Australian racing
- firlandsfarm
- Posts: 2688
- Joined: Sat May 03, 2014 8:20 am
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 wrote: ↑Sun Jul 05, 2020 3:22 pmWhen you were allowed to trade up to 24 NSW markets (and as much $$$ as you want) I called them tokens, but now the limit is $6000 regardless of how many markets you trade I prefer to call them chips. It's just like being in a casino every week with $6K worth of free chips and you can keep the profits.
"Chips" is just a slang term that I made up to represent the $6000 you can trade. $6K is the limit you can trade without having to pay turnover charge. Anything more than that and you get charged 2.4% of your total back bets for the week on NSW markets.firlandsfarm wrote: ↑Mon Jul 06, 2020 7:34 amThanks Derek but I must say I still don't know what it is! Sorry for my ignorance but I've tried searching Betfair Help and as usual it doesn't come up with any helpful suggestions. Anyway Is the AS$6,000 the Turnover Charge parameter? I can't see any mention of anything that might vaguely relate to a chip or token. Maybe my thinking is being deflected by those terms … what do Betfair call it/them?Derek27 wrote: ↑Sun Jul 05, 2020 3:22 pmWhen you were allowed to trade up to 24 NSW markets (and as much $$$ 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.
https://www.betfair.com/aboutUs/Betfair ... #Turnover2
- firlandsfarm
- Posts: 2688
- Joined: Sat May 03, 2014 8:20 am
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.Derek27 wrote: ↑Mon Jul 06, 2020 1:17 pm"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
Bettors would be unaffected by turnover charge because they will generate more than 1.25% commission on turnover by generating 1.5% commission on losers and usually more on winners, which excludes them from the charge. The 10% commission though, would kill any small-margin betting system.firlandsfarm wrote: ↑Mon Jul 06, 2020 3:35 pmFor traders I can see it hurts but it would just about kill any betting system.
Racenet has a list of tracks and a lot of other useful info: https://www.racenet.com.au/tracks
Here's a useful calendar if you trade NSW markets: https://racing.racingnsw.com.au/FreeFie ... tings.aspx?
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- Posts: 443
- Joined: Wed May 18, 2016 1:24 pm
Thanks, will certainly take that one in to account when moving on to the software as I am currently not using Betangel. Although I understand that might sound stupid, priority for me is now to get the psychology part of trading first right before moving on to this one
Scheduled outage
Wednesday 8th July from 0845-0915 BST
which I think is 5.45pm-6.45pm AEST today
https://forum.developer.betfair.com/for ... 5-0915-bst
Wednesday 8th July from 0845-0915 BST
which I think is 5.45pm-6.45pm AEST today
https://forum.developer.betfair.com/for ... 5-0915-bst