PC - Going from 50% to 40%
I don't think you'll be in good standing with Betfair for PC avoidance.xtrader16 wrote: ↑Wed Feb 10, 2021 9:37 am...
I thought it would be just as easy to lose money on Betfair and make it back on Ladbrokes /Betdaq accounts and keep your Betfair accounts under £20k profit......the difference in the two options, money wise, is huge.
...
Surely it's easy to lose £500 on Betfair whilst covering most of the £500 on other exchanges?
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.
That's what I was doing a few years ago. You won't get as much as you want on with the bookies and you can't keep it up for long, the bookies gub you.xtrader16 wrote: ↑Wed Feb 10, 2021 9:37 amDo you mind if ask: Why did you allow your accounts to show such profits so Betfair can charge you their Premium Charges.
I thought it would be just as easy to lose money on Betfair and make it back on Ladbrokes /Betdaq accounts and keep your Betfair accounts under £20k profit......the difference in the two options, money wise, is huge.
Just asking like....I understand for those who got the PC applied retrospectively but not for those who knew the rules well in advance. Why allow your account to get to that level?
Surely it's easy to lose £500 on Betfair whilst covering most of the £500 on other exchanges?
I think Betdaq have their own PC so you're bound to win on one of the exchanges.
- Crazyskier
- Posts: 1157
- Joined: Sat Feb 06, 2016 6:36 pm
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
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
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.