Betfair Premium Charge

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Derek27
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Joined: Wed Aug 30, 2017 11:44 am
Location: UK

jamesedwards wrote:
Tue Jun 21, 2022 7:00 pm
gazuty wrote:
Tue Jun 21, 2022 11:54 am
Naffman wrote:
Tue Jun 21, 2022 10:06 am
My gross profit looks like my net profit is it the same for you?
Sadly it’s now fixed (and I have to pay again) and it looks like you were spot on - on the gross v net.
Amazing how efficiently Betfair identify and fix issues when it's them who will suffer :lol:
They haven't fixed the issue, they've just rolled back the changes. You wouldn't think it would have been difficult to test it on a beta site before going live!
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Bog
Posts: 190
Joined: Sat Aug 11, 2018 7:19 am

How are the numbers for last week for you guys?
I'm not folowing that much the PC page, the only number that I was paying attention, was 'Total charges percentege', that was always over 21.5% since last week ( at least the last 3-4 years). Today it's showing 20.1%, and it's wrong and imposibile, because it was a losing week and beside that, I generated a lot of comission. To have have such a decrease in percentege, I shoud have had a very veryyyyy profitable week.
What it's the next step? Should I contact support or it will be corected by itself? It's causing unnecessary stress time.
They are keeping records for Lifetime summary on a weekley basis? Unfortunely I don't have any screenshot made before this error.
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jamesedwards
Posts: 2234
Joined: Wed Nov 21, 2018 6:16 pm

Bog wrote:
Mon Feb 06, 2023 7:19 am
How are the numbers for last week for you guys?
I'm not folowing that much the PC page, the only number that I was paying attention, was 'Total charges percentege', that was always over 21.5% since last week ( at least the last 3-4 years). Today it's showing 20.1%, and it's wrong and imposibile, because it was a losing week and beside that, I generated a lot of comission. To have have such a decrease in percentege, I shoud have had a very veryyyyy profitable week.
What it's the next step? Should I contact support or it will be corected by itself? It's causing unnecessary stress time.
They are keeping records for Lifetime summary on a weekley basis? Unfortunely I don't have any screenshot made before this error.
Everything looks roughly correct for me, although my lifetime commission is out by 11p and it's never normally out by more than a penny for rounding, so it's possible something somewhere has calculated differently for some reason.
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Derek27
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Location: UK

My gross profit is two pence out, it's usually correct to the exact penny. I didn't trade anything shortly after midnight that could account for the extra two pence.

I was actually thinking of posting about it last night but thought people might think I'm being pedantic. :)
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Bog
Posts: 190
Joined: Sat Aug 11, 2018 7:19 am

Cheers James & Derek. Betfair fixed the issue today :mrgreen: They 'forgot' to add to Total Charges, the total of previous premium charges that was deducted from my account. Now the percentege it's ok. I will verify more often, from now on

But the basic question remains - When there it's an error, why is always in players disadvantage?
If it would have been to their disadvantage, I'm sure I wouldn't have had to contact support to investigate & correct the mistake:))
sionascaig
Posts: 1053
Joined: Fri Nov 20, 2015 9:38 am

In the financial world, if a company makes an error they have to redress the customer to a position of no worse off including a penal interest rate from the point of loss. Penalties for not doing so include shutting the company down to new business until issues resolved.

I've seen projects where redress payments can amount to £100m

Given the amount of monies involved in the "gambling" industry, it begs the question why they are not subject to something similar (and that should defo include exchange outages due to poor controls / lack of investment).
deestar
Posts: 178
Joined: Thu Feb 20, 2020 6:17 pm

Bog wrote:
Mon Feb 06, 2023 7:19 am
How are the numbers for last week for you guys?
I'm not folowing that much the PC page, the only number that I was paying attention, was 'Total charges percentege', that was always over 21.5% since last week ( at least the last 3-4 years). Today it's showing 20.1%, and it's wrong and imposibile, because it was a losing week and beside that, I generated a lot of comission. To have have such a decrease in percentege, I shoud have had a very veryyyyy profitable week.
What it's the next step? Should I contact support or it will be corected by itself? It's causing unnecessary stress time.
They are keeping records for Lifetime summary on a weekley basis? Unfortunely I don't have any screenshot made before this error.
I've been chasing an error on mine. I had a poor week a few weeks ago that pushed me over the 40% threshold for that week. No PC to pay that week, but the excess (about £10) was never carried over into the following week. So my lifetime % is saying I've paid £10 too much. Not a big deal but this was the first time it went over 40% in one week since they have obviously changed the way they are running the calculation which makes me wonder if they have a error in the (new?) calc. Was always correct prior to the change. Probably a rounding sensitivity as my lifetime is sitting at 40.00262.
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ShaunWhite
Posts: 9731
Joined: Sat Sep 03, 2016 3:42 am

sionascaig wrote:
Mon Feb 13, 2023 9:33 am
In the financial world, if a company makes an error they have to redress the customer to a position of no worse off including a penal interest rate from the point of loss. Penalties for not doing so include shutting the company down to new business until issues resolved.

I've seen projects where redress payments can amount to £100m

Given the amount of monies involved in the "gambling" industry, it begs the question why they are not subject to something similar (and that should defo include exchange outages due to poor controls / lack of investment).
The last thing the industry needs right now is more government interference. Gambling is part of the enternatinment industry (aka gaming) not the financial world, and has no compulsion to provide a platform for the few who chose to derive an income from it. It would be like having a regulatory framework around how often the pub quiz machine was switched on.
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Derek27
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Location: UK

Mine's spot on this week. I was hoping they'd knock off last week's extra two pence.
lsmiles
Posts: 18
Joined: Sun Sep 07, 2014 11:59 am

Hi there, I hope I'm in the right place for help. Can anyone help me in locating Premium charge details on the Betfair website? I was under the impression I could find it under My Account > Betting Activity as show in the attached screen shot but can't find anything.

Thanks
Last edited by lsmiles on Sun Mar 19, 2023 7:17 am, edited 1 time in total.
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Derek27
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Location: UK

lsmiles wrote:
Sun Mar 19, 2023 12:28 am
Hi there, I hope I'm in the right place for help. Can anyone help me in locating Premium charge details on the Betfair website? I was under the impression I could find it under My Account > Betting Activity as show in the attached screen shot but can't find anything.

Thanks
It should be at the bottom of that list, below transaction history. Try the link below.

https://myaccount.betfair.com/activity/premium-charges
lsmiles
Posts: 18
Joined: Sun Sep 07, 2014 11:59 am

Thanks for the reply and that's where I thought it should be. I tried the link but get the 404 message stating the page doesn't exist.
Last edited by lsmiles on Sun Mar 19, 2023 7:18 am, edited 1 time in total.
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Kai
Posts: 6092
Joined: Tue Jan 20, 2015 12:21 pm

I think you have to be paying premium charge or get close to paying it before they let you see the page
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jamesedwards
Posts: 2234
Joined: Wed Nov 21, 2018 6:16 pm

lsmiles wrote:
Sun Mar 19, 2023 1:30 am
Thanks for the reply and that's where I thought it should be. I tried the link but get the 404 message stating the page doesn't exist.
The link is correct. Your Premium Charge page only shows up once your account reaches a certain level where qualification for PC becomes imminent.
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Derek27
Posts: 23471
Joined: Wed Aug 30, 2017 11:44 am
Location: UK

Perhaps it's just as well the link didn't work, because if it did it would have led to my premium charge page for all the forum to see. :lol:

It's outrageous that Bumfair doesn't give new customers or people who haven't reached PC access to this information. It's like a credit card that hides your balance until you've maxed it out!

You used to be able to email Bumfair and request account information but it's probably worth making a request for it via the chat facility. If you can get your lifetime P/L and commission paid you'll be able to keep your own accounts and know if/when you're approaching PC.
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