Betfair Rewards Plan - 2% commission!!

[Kai]

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.

Thanks, will have to work on that since my lifetime comms look below 5% currently with being full time for 5 years so I've been paying PC since the first year. But will have to go into more depth on how to churn more and how to generate more comms, thank God for Bet Angel's automation, but it looks inevitable to me that every trader goes past the 250k and gets hit by PC2, because how the hell could you even generate >40% lifetime comms to completely avoid it, no idea if those numbers are achievable.

[LinusP]

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.

Thanks, will have to work on that since my lifetime comms look below 5% currently with being full time for 5 years so I've been paying PC since the first year. But will have to go into more depth on how to churn more and how to generate more comms, thank God for Bet Angel's automation, but it looks inevitable to me that every trader goes past the 250k and gets hit by PC2, because how the hell could you even generate >40% lifetime comms to completely avoid it, no idea if those numbers are achievable.

I vary between 40-45% mostly from outright betting.

[Kai]

Well done, although was wondering if those numbers were achievable from trading activity alone.

[jimibt]

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.

Thanks, will have to work on that since my lifetime comms look below 5% currently with being full time for 5 years so I've been paying PC since the first year. But will have to go into more depth on how to churn more and how to generate more comms, thank God for Bet Angel's automation, but it looks inevitable to me that every trader goes past the 250k and gets hit by PC2, because how the hell could you even generate >40% lifetime comms to completely avoid it, no idea if those numbers are achievable.

I vary between 40-45% mostly from outright betting.

assuming a large %age of your activity was outright betting, would this new 2% bracket be a better proposition to manage over time?

[LinusP]

Thanks, will have to work on that since my lifetime comms look below 5% currently with being full time for 5 years so I've been paying PC since the first year. But will have to go into more depth on how to churn more and how to generate more comms, thank God for Bet Angel's automation, but it looks inevitable to me that every trader goes past the 250k and gets hit by PC2, because how the hell could you even generate >40% lifetime comms to completely avoid it, no idea if those numbers are achievable.

I vary between 40-45% mostly from outright betting.

assuming a large %age of your activity was outright betting, would this new 2% bracket be a better proposition to manage over time?

I am personally on 200k+ points so already 2%, any account on 40%+ is also likely to already be on 2% if betting to high volumes.

[ShaunWhite]

Well done, although was wondering if those numbers were achievable from trading activity alone.

My day to day automated trading runs at a hair over 30% with a lifetime iro 26/27%. No straight bets. I'm not in the 250k+ band yet so I don't pay PC, just regular commission. If you plan to be profitable (and who doesn't) then forward planning is well worth it and can't be done soon enough, if you wait until you need it it's much harder to start changing your ingrained comm/profit ratio.

[sa7med]

Well done, although was wondering if those numbers were achievable from trading activity alone.

My day to day automated trading runs at a hair over 30% with a lifetime iro 26/27%. No straight bets.

Woah. Do you run a lot of break even strategies?

[Euler]

It does make a bit of difference.

Y, I think it was just a dig that there is nothing for higher rate PC payers.

[Tuco]

You still pay PC so they could offer you 0% and it wouldn't make a blind bit of difference.

...that's what I thought - was having a discussion with a pal today about this.

My ratio is currently 4.678%, so surely I'd be better off on the Rewards+ 8% commission for now and then change once I'm comfortably above 10%.

I might also win on the free slot rewards!

[tees]

I'm surprised that so many PC payers are already on 2% comms. I'm one of those lazy ones that knew the higher rate PC was coming but didn't do anything about it. For the last few years I've been on 50% PC and have been trying for a year now to get/churn my way to the magic 10%+ to get me into the 40% bracket (forecasted for next April). I've never been able to get my commission below about 3.3% as I have to carefully manage my Betfair balance from which I take an ever decreasing wage each month. 2% means I will be able to take advantage of implied commission and should make it a bit easier for me going forward though I will miss the bonuses/cash races that have helped me a bit this past year. I just thought there were a few more PC payers like myself skirting on the edge and wondering if it's all worth it.

[buyshirts]

Im a new PC payer at 40% level and my commission each week is roughly 3-5%.

So firstly im screwed going forward virtually no chance to get down to 20% even with a decent amount of automation and this being the case it don't matter which of the plans i pick?

[rik]

It does make a bit of difference.

Y, I think it was just a dig that there is nothing for higher rate PC payers.

dont get the dig, nothing what?

[rik]

Im a new PC payer at 40% level and my commission each week is roughly 3-5%.

So firstly im screwed going forward virtually no chance to get down to 20% even with a decent amount of automation and this being the case it don't matter which of the plans i pick?

sure your on 40%? only way youll get down to 20% rate is if your lifetime profit below 250k if not youll stay on 40

[jimibt]

Im a new PC payer at 40% level and my commission each week is roughly 3-5%.

So firstly im screwed going forward virtually no chance to get down to 20% even with a decent amount of automation and this being the case it don't matter which of the plans i pick?

sure your on 40%? only way youll get down to 20% rate is if your lifetime profit below 250k if not youll stay on 40

what i'm *wondering* is whether my wifes account (cough) which is used purely for outright betting will attract any further significant commission if i (i mean SHE) moves it to 2% basic. i'm assuming as there are no offset bets getting placed on this account, that all commission required is being paid. in short, should it breach the £250k threshold, will it attract PC, even tho purely dealing in outright bets... as i said *my wifes* account purely deals in outright betting!!

[Tuco]

what i'm *wondering* is whether my wifes account (cough) which is used purely for outright betting will attract any further significant commission if i (i mean SHE) moves it to 2% basic. i'm assuming as there are no offset bets getting placed on this account, that all commission required is being paid. in short, should it breach the £250k threshold, will it attract PC, even tho purely dealing in outright bets... as i said *my wifes* account purely deals in outright betting!!

I don't think it matters what type of betting you do? As far as I understand, once you breach 250k lifetime net profit you will move to higher rate PC irrespective of the markets and/or type of trader you are or betting you do?

Another thing no-one appears to have mentioned is that again as far as I know, once you are a higher rate PC payer, if your commission/gross lifetime profit ratio falls below 10% you will move to 50% and if it moves to below 5% you will pay 60%, ie the higher rate PC band is flexible and changes with your commission/gross lifetime profit ratio.

Do please correct me if I'm wrong - thank you!