Commission Generated/Premium Charge/Australian Markets

[buyshirts]

Hi
A question regarding Commission generated on Australian greyhounds, i'm paying average commission on Australian dogs of roughly 6% compared to my normal 2% on other stuff will all of this 6% go on my commission generated when my premium charge is calculated or is it less due to some of this extra being State Taxes levied on betting in some Australian states?

[Euler]

No, it's a bit of a con on Betfair's behalf. They only count commission at 3%, even if you paid 10% for the purposes of premium charge it's called 'commission generated' and is recalculated as though you paid 3%.

[buyshirts]

I should of really taken more notice but as has been pointed out by multiple people, multiple times i should of been on top of it so a slap on the wrist for me.
But there is a surprised Betfair charging with one hand and not counting it on the other hand!

[Euler]

I had a 'discussion' with Betfair this week about this.

They always claimed traders don't pay enough commission, but it doesn't help that they don't actually count it properly. I must have paid a fortune over twenty years.

[buyshirts]

As we know that Traders probably aren't paying their fair share but as you highlighted in your video Betfair having static measures aren't fair a the very least it should be an annual profit amount. As they maintain that not many people pay PC then maybe they should increase the 2% lowest general comm up to say 3% and see how much of a hole that fills of an implemented annual profit rather than a lifetime amount.

[sa7med]

No, it's a bit of a con on Betfair's behalf. They only count commission at 3%, even if you paid 10% for the purposes of premium charge it's called 'commission generated' and is recalculated as though you paid 3%.

Do they consider actual commission or generated commission in order to determine how much premium charge you are charged when you move up a tier? ie if you are less than 10% lifetime commission (generated or actual?)

[jamesedwards]

No, it's a bit of a con on Betfair's behalf. They only count commission at 3%, even if you paid 10% for the purposes of premium charge it's called 'commission generated' and is recalculated as though you paid 3%.

I thought the 3% was only the assumption used for 'implied commission' in losing markets. The calculation I have been using is:

Commission Generated = (A + B) / 2

A = actual commission paid on winning markets (eg 2% in UK or 6%-10% in Aus)
B = implied commission on losing markets at 3%

Am I wrong?

[jamesedwards]

No, it's a bit of a con on Betfair's behalf. They only count commission at 3%, even if you paid 10% for the purposes of premium charge it's called 'commission generated' and is recalculated as though you paid 3%.

Do they consider actual commission or generated commission in order to determine how much premium charge you are charged when you move up a tier? ie if you are less than 10% lifetime commission (generated or actual?)

This would suggest they use 'Lifetime commission generated'.

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[Derek27]

WTF is "Ä£250,000"??

The 'lifetime' calculation only comes into effect when you've had a week without paying PC, either through losing or not winning enough. Then your lifetime PC becomes greater than your PC rate and you pay the lesser of the two.