Australian racing

[Naffman]

Poor fucker, his money makes the horse lose 3 legs

Are you able to trade against her profitably?

Usually they'll move in the direction you want but will often take a position too

[firlandsfarm]

Can someone help me by explaining the Bf commission rules for Aus racing please. I'm not trading, just placing £2 Lay bets so because of the small amounts the commission %age goes to two places but it seems to round to 6%, 7.50% or 10%. I realise I can see it in the Rules link on the Bf website but I'm automating and a 10% commission rate can severely dent a system's P&L!

Explained here
https://www.betfair.com.au/hub/commissions-and-charges/

Thanks for the link Anbell that link is just what I wanted … why didn't Befair take me there in the search!

[spreadbetting]

Hell of a lot of markets overnight , is it some special race day in Aus or just Betfair adding in extra meetings?

My bot played 189 markets out of a possible 250 races.

[Derek27]

Can someone help me by explaining the Bf commission rules for Aus racing please. I'm not trading, just placing £2 Lay bets so because of the small amounts the commission %age goes to two places but it seems to round to 6%, 7.50% or 10%. I realise I can see it in the Rules link on the Bf website but I'm automating and a 10% commission rate can severely dent a system's P&L!

Also should I be aware of what you guys call "chips"?

I'm not finding the Bf Help pages very helpful (never have!). For example a search for "Australian Horse Racing commission rate" or any extracted variant of that doesn't throw up any morsel of help.

For NSW markets (which have 10% commission) there's a strict $6000 weekly limit for back bets, starting midnight Sunday/Monday GMT. That amounts to approximately £3300. If you exceed that limit you're liable to pay 2.4% turnover charge on all your back bets, that's a minimum of $144.

[Derek27]

I normally start ranting when SSR switches to Hong Kong racing but perhaps it's a good thing today, because I was in two minds about risking squeezing a few quid out of my last chips.

[Naffman]

Desperado Mont Angel r8 bool

[Naffman]

racing.com now saying unavailable in UK

[Derek27]

Bastards! What is it with the world that we can't even share a bit of video?

[firlandsfarm]

… my last chips.

chips???

[Derek27]

… my last chips.

chips???

When you were allowed to trade up to 24 NSW markets (and as much $$$ as you want) I called them tokens, but now the limit is $6000 regardless of how many markets you trade I prefer to call them chips. It's just like being in a casino every week with $6K worth of free chips and you can keep the profits.

[Derek27]

Interesting opening maiden at Wagga, couldn't wait to start firing my chips.

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[Derek27]

Missed the break. BSP 3.6!

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[firlandsfarm]

When you were allowed to trade up to 24 NSW markets (and as much $$$ as you want) I called them tokens, but now the limit is $6000 regardless of how many markets you trade I prefer to call them chips. It's just like being in a casino every week with $6K worth of free chips and you can keep the profits.

Thanks Derek but I must say I still don't know what it is! Sorry for my ignorance but I've tried searching Betfair Help and as usual it doesn't come up with any helpful suggestions. Anyway Is the AS$6,000 the Turnover Charge parameter? I can't see any mention of anything that might vaguely relate to a chip or token. Maybe my thinking is being deflected by those terms … what do Betfair call it/them?

[Derek27]

When you were allowed to trade up to 24 NSW markets (and as much $$$ as you want) I called them tokens, but now the limit is $6000 regardless of how many markets you trade I prefer to call them chips. It's just like being in a casino every week with $6K worth of free chips and you can keep the profits.

Thanks Derek but I must say I still don't know what it is! Sorry for my ignorance but I've tried searching Betfair Help and as usual it doesn't come up with any helpful suggestions. Anyway Is the AS$6,000 the Turnover Charge parameter? I can't see any mention of anything that might vaguely relate to a chip or token. Maybe my thinking is being deflected by those terms … what do Betfair call it/them?

"Chips" is just a slang term that I made up to represent the $6000 you can trade. $6K is the limit you can trade without having to pay turnover charge. Anything more than that and you get charged 2.4% of your total back bets for the week on NSW markets.

https://www.betfair.com/aboutUs/Betfair ... #Turnover2

[firlandsfarm]

"Chips" is just a slang term that I made up to represent the $6000 you can trade. $6K is the limit you can trade without having to pay turnover charge. Anything more than that and you get charged 2.4% of your total back bets for the week on NSW markets.

https://www.betfair.com/aboutUs/Betfair ... #Turnover2

OK, thanks Derek and sorry for being so slow on the uptake! The problem was there are so many 'freebies' thrown around today I thought you were enjoying one! For traders I can see it hurts but it would just about kill any betting system.