Hope someone can help,
I am currently on the cusp of premium charge at 20% and i have been watching peters videos he says that there is a away of changing your betting style to help the way you account is calculated for the charge , i have read about churning and improving you generated commision which can help .
So basically what i am asking for is some advise how to do it and maybe a example or explanation from someone who has been through the process .... would befiar look down on this /is it ok to do this ...?? Any help would be greatly appreciated ...Jim
Premium charge advise
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spreadbetting
- Posts: 3140
- Joined: Sun Jan 31, 2010 8:06 pm
The majority of people churning comms are usually doing it to stay in the 40% band rather than 50/60% for higher rate PC. For that you need to be in the 10% lifetime commission figure.
At the 20% figure there's little if anything to be earnt by simply churning money at the same prices on the CS 0-0 and U0.5 or similar 'arbs'. Unless you're on sub 3% comm rate it'll cost you money and it can almost be a full time job churning if you haven't automated things especially if you're looking for small arbs between x-markets.
So in essence if you're style of play is currently keeping you over that 20%. or close to it. when you hit that £250K lifetime winnings you'll drop into the 40% band anyway. Trying to avoid the 20% PC by churning is a pointless exercise if it's not going to add to your bottom line and if you have strategies that wlll add to your bottom line you should be doing them already.
At the 20% figure there's little if anything to be earnt by simply churning money at the same prices on the CS 0-0 and U0.5 or similar 'arbs'. Unless you're on sub 3% comm rate it'll cost you money and it can almost be a full time job churning if you haven't automated things especially if you're looking for small arbs between x-markets.
So in essence if you're style of play is currently keeping you over that 20%. or close to it. when you hit that £250K lifetime winnings you'll drop into the 40% band anyway. Trying to avoid the 20% PC by churning is a pointless exercise if it's not going to add to your bottom line and if you have strategies that wlll add to your bottom line you should be doing them already.
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ShaunWhite
- Posts: 10559
- Joined: Sat Sep 03, 2016 3:42 am
Whether it's worth doing depends on what your current total charges and gross profit are (don't post them it's obvioulsy personal). If those numbers are small and you're already at say 19% then that's a very different proposition to them being large and it being 8%. Take a look at what you would need to do to your total charges & gross profit figures to get over 20% first. It might be too late to do much about it. If you're not able to calculate the total charges using the method in the Ts&Cs then your total comm paid should be near enough.
Depending on the scale of the adjustment you need, there are several ways to generate commission from trading related markets to broadening your strategy parameters to include more breakeven markets. I assume most ways have been discussed on the forum so some searches might bring up something suitable.
Depending on the scale of the adjustment you need, there are several ways to generate commission from trading related markets to broadening your strategy parameters to include more breakeven markets. I assume most ways have been discussed on the forum so some searches might bring up something suitable.