Sadly, I still aspire to incur the Premium Charges discussed herein.
Despite having several botting strategies that consistently make money over any given 7 day period (the odd losing day, but always up over any given week); and having stopped the impulses of chasing losses or silly manual over-staking that for many years negated my small strategies, I'm still struggling to increase stakes to a point that generates more than around £1,000 per calendar month.
At this rate, It will still be years until I am liable for any PC charge, I believe?
CS
PC - Going from 50% to 40%
Unread post Wed Feb 10, 2021 12:34 pm
JohnT wrote: ↑
Wed Feb 10, 2021 4:06 am
Derek27 "other charges" never changes--yours will always be 0
To calculate buffer you can divide total charges by 0.4 and subtract gross profit.
You mean multiply?
Is that true for higher rate payers? I just assumed if you're lifetime PC was under 20% when it was introduced or under 40% when you get hit by the higher rate, they credit you with a nominal charge as though you've paid it. Does the 'other charges' also include data/transaction charges? I've never had to pay those.
"other charges" was for those who had won over £250K at the time PC was introduced.
I don't think data/transaction charges was included on the portal.
JohnT wrote: ↑
Wed Feb 10, 2021 4:06 am
Derek27 "other charges" never changes--yours will always be 0
To calculate buffer you can divide total charges by 0.4 and subtract gross profit.
You mean multiply?
Is that true for higher rate payers? I just assumed if you're lifetime PC was under 20% when it was introduced or under 40% when you get hit by the higher rate, they credit you with a nominal charge as though you've paid it. Does the 'other charges' also include data/transaction charges? I've never had to pay those.
"other charges" was for those who had won over £250K at the time PC was introduced.
I don't think data/transaction charges was included on the portal.
That calculation works out to a really big number (which i know can't be right).
So I thought maybe it's because total charges still shows 50.09%. So I divided total charges by 50.09 and multiplied by 40.00 first, but that works out to -£20 (which can't be right either).
Although already used in Total charges, I'm wondering if Other Charges has some kind of role... it's baffling...
I'll post again when Betfair have responded.
Youve mentioned before that if people are ahead of the curve, to come to you/BetAngel and discuss ways to mitigate the problem.
I'm at 30% lifetime total charges but heading toward 20%. Is there anything I can do to avoid hitting that 20% number?
tees wrote: ↑Wed Feb 10, 2021 8:02 pmThat calculation works out to a really big number (which i know can't be right).
So I thought maybe it's because total charges still shows 50.09%. So I divided total charges by 50.09 and multiplied by 40.00 first, but that works out to -£20 (which can't be right either).
Although already used in Total charges, I'm wondering if Other Charges has some kind of role... it's baffling...
I'll post again when Betfair have responded.
For example if you've been on 50%.
Gross profit £500K
Total charges £250K
£250K divided by 0.4 = £625K.
You're able to win £125K plus all the commision generated in wimning that amount.
I'm with you now. I mistook total charges for gross profit.JohnT wrote: ↑Wed Feb 10, 2021 11:50 pmtees wrote: ↑Wed Feb 10, 2021 8:02 pmThat calculation works out to a really big number (which i know can't be right).
So I thought maybe it's because total charges still shows 50.09%. So I divided total charges by 50.09 and multiplied by 40.00 first, but that works out to -£20 (which can't be right either).
Although already used in Total charges, I'm wondering if Other Charges has some kind of role... it's baffling...
I'll post again when Betfair have responded.
For example if you've been on 50%.
Gross profit £500K
Total charges £250K
£250K divided by 0.4 = £625K.
You're able to win £125K plus all the commision generated in wimning that amount.
So I got a partial response from Betfair over a week later after using their messenger service. My PC portal page will reflect 40% from next week. However, I didn't get a response on how to work out the offset/buffer amount, so I've asked this question again via their messenger service.
When I inquired about my PC portal when getting a new account the woman on rhe chat facility never even heard of it!tees wrote: ↑Thu Feb 18, 2021 9:15 pmSo I got a partial response from Betfair over a week later after using their messenger service. My PC portal page will reflect 40% from next week. However, I didn't get a response on how to work out the offset/buffer amount, so I've asked this question again via their messenger service.
I never did get a response back from Betfair on how to work out the 'buffer'.
However, I did finally manage to work it out. It can never be an exact amount, as the goal posts move depending on the results of your future trading/betting.
From your PC portal page, let's say your details have just been updated, and you have gone from 50% to 40% and it shows the following new figures:
Your Gross profit & loss = 500,000
Your Total charges = 210,000
210,000/500,000 = 42%
You have 'paid' 2% more than the 40%. So:
210,000/40% = 525,000
And the difference is the 'buffer':
525,000-500,000 = 25,000
Ta da!
Of course, as mentioned above - goal posts - this is will never be an exact amount but it serves as a useful guide.
Hope it makes sense!?
However, I did finally manage to work it out. It can never be an exact amount, as the goal posts move depending on the results of your future trading/betting.
From your PC portal page, let's say your details have just been updated, and you have gone from 50% to 40% and it shows the following new figures:
Your Gross profit & loss = 500,000
Your Total charges = 210,000
210,000/500,000 = 42%
You have 'paid' 2% more than the 40%. So:
210,000/40% = 525,000
And the difference is the 'buffer':
525,000-500,000 = 25,000
Ta da!
Of course, as mentioned above - goal posts - this is will never be an exact amount but it serves as a useful guide.
Hope it makes sense!?