Betfair Rewards Plan - 2% commission!!
the big winners are probably on 2 or close to 2% anyway, i guess its more of a targeted promotion.
the bonuses ive been given over the years probably a waste of money it had no influence on my activity on betfair if i got a free spin on some some slot every now and then or a free bet.
a flat 2% should entice players with more marginal strategies to increase their turnover or attract more of those matched betters/arbers which might otherwise go to betdaq or bet elsewhere
dont know if it will increase betfairs "bottom line" thats for them to analyse but id think it will improve customer satisfaction if they let you choose whats important for you
the bonuses ive been given over the years probably a waste of money it had no influence on my activity on betfair if i got a free spin on some some slot every now and then or a free bet.
a flat 2% should entice players with more marginal strategies to increase their turnover or attract more of those matched betters/arbers which might otherwise go to betdaq or bet elsewhere
dont know if it will increase betfairs "bottom line" thats for them to analyse but id think it will improve customer satisfaction if they let you choose whats important for you
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wearthefoxhat
- Posts: 3221
- Joined: Sun Feb 18, 2018 9:55 am
If everyone pays 2% then it's a good promotion/marketing move to support the recent aquisition of the Stars Group. (although some of the calculations I've read, it won't make a difference to the PC payers)
I've benefited from their existing 2% promo, so reckon it would be good for everyone too.
Having said that, I'm about to launch a Betdaq offensive up until xmas, so loyalty doesn't count for much...
you usually make short statements without explaining what you mean exactly.
You mean this choice has not been offered to pc customers? I assume you are on 2% anyway?
For premium charge customers that aren't on 2% yet this will mean less total charges as premium charge is based of generated not paid commission, can make a few percent difference based on your win/loss ratio, i put an example on the other thread about this.
Im a PC payer and just got offered (and selected) the new plans yesterday.rik wrote: ↑Wed Oct 02, 2019 2:05 pmyou usually make short statements without explaining what you mean exactly.
You mean this choice has not been offered to pc customers? I assume you are on 2% anyway?
For premium charge customers that aren't on 2% yet this will mean less total charges as premium charge is based of generated not paid commission, can make a few percent difference based on your win/loss ratio, i put an example on the other thread about this.
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spreadbetting
- Posts: 3140
- Joined: Sun Jan 31, 2010 8:06 pm
If you paid 0% comms you'd soon find your lifetime comms drifting below 5% and find your PC bracket jump to 60%.
So much depends on how you play the markets as a PC payer as to whether you'd benefit from a 2% comm rate in the long term. The majority of people may as well simply switch to it as they're unlikely to be affected by it and if they are they'll know how to fix it.
I was under the impression that you'd jump your PC bracket if you've made over x in profit. Didn't realize there was a benchmark lifetime commission as well? Gah, really have to look into this.spreadbetting wrote: ↑Wed Oct 02, 2019 4:20 pmIf you paid 0% comms you'd soon find your lifetime comms drifting below 5% and find your PC bracket jump to 60%.
So much depends on how you play the markets as a PC payer as to whether you'd benefit from a 2% comm rate in the long term. The majority of people may as well simply switch to it as they're unlikely to be affected by it and if they are they'll know how to fix it.
It does make a bit of difference. On 2% most traders would be generating more commision than paying, and vice versa with 5% comm rate. I'm calculating paid/generated commision of my bots and can simulate different commision rates. You'll have to trust me that these figures are correct or do your own excel simulations.
Scenario 5%:
gross pl 1790.92
paid comm 405.77
generated comm 297.75
PC 60.43 (1790.92 * 0.2 - 297.75)
total comm 466.2 or 26% of gross pl
Scenario 2%:
gross pl 1790.92
paid comm 162.31
generated comm 176.02
PC 182.16 (1790.92 * 0.2 - 176.02)
total comm 344.47 or 19.2% of gross pl
2% scenario you get a lot bigger PC charge, but total comm paid is 122 less
Yikes, I should have been paying more attention. So what's the verdict then? The plan with the highest comms % is the way to go long term when higher PC rates are concerned, to avoid getting stuck in the higher bracket of 60%?sa7med wrote: ↑Wed Oct 02, 2019 4:29 pmI was under the impression that you'd jump your PC bracket if you've made over x in profit. Didn't realize there was a benchmark lifetime commission as well? Gah, really have to look into this.spreadbetting wrote: ↑Wed Oct 02, 2019 4:20 pmIf you paid 0% comms you'd soon find your lifetime comms drifting below 5% and find your PC bracket jump to 60%.
So much depends on how you play the markets as a PC payer as to whether you'd benefit from a 2% comm rate in the long term. The majority of people may as well simply switch to it as they're unlikely to be affected by it and if they are they'll know how to fix it.
Really need an eli5 version with clear instructions, too much conflicting opinion
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spreadbetting
- Posts: 3140
- Joined: Sun Jan 31, 2010 8:06 pm
Depends if you ever think you'll get into the higher rate bands. For most people I know who do this for a living when it clicks you kind of know you can earn a living from it but even then you'd still have a year or two to start taking any action needed to pump up your comms rate.
So unless you're close to hitting the £250K lifetime winnings or winning at a rate it's getting close I'd simply take the 2% and start to worry when you do hit that purple patch.
Just keep an eye of your lifetime comms rate which you can easily see on the PC page, if you don't have access to that page you'd be over 20% and have no worries.
So unless you're close to hitting the £250K lifetime winnings or winning at a rate it's getting close I'd simply take the 2% and start to worry when you do hit that purple patch.
Just keep an eye of your lifetime comms rate which you can easily see on the PC page, if you don't have access to that page you'd be over 20% and have no worries.
For me, the new 2% flat rate is the single best piece of news from betfair since the exchange launched. I have a clear incentive to increase my turnover substantially. I can also appreciate that very few other betfair customers will feel this is an opportunity to benefit as much as I do.
You'd say this almost wipes out people's incentive to use Betdaq and Smarketsweemac wrote: ↑Wed Oct 02, 2019 5:01 pmFor me, the new 2% flat rate is the single best piece of news from betfair since the exchange launched. I have a clear incentive to increase my turnover substantially. I can also appreciate that very few other betfair customers will feel this is an opportunity to benefit as much as I do.