Australian racing

[gazuty]

None of it really matters if you pay pc.

Except what it does to the market as a whole of course.

[Naffman]

What’s going on with the new Australian commission? Hard to find anything out when you’re not based in Aus and don’t get the emails, thanks

Commissions now 5%, 7% or 10% depending on market. No discounts to that unless in VIP program.

None of it really matters if you pay pc.

Except what it does to the market as a whole of course.

Thanks Gaz, yeah 7% is a big jump when even most casuals would be paying less than 5%

[Naffman]

I saw the VIP levels on twitter but can't seem to find it now, us UK players will probably pay full whack anyway so definitely going to have to think about my approach as I'm sure others will.

[Derek27]

That's a relief. When I saw this news I thought it was going beyond 10%.

I've just looked at the MBR page, it's been updated but the table is incomplete!

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

[ShaunWhite]

I saw the VIP levels on twitter but can't seem to find it now, us UK players will probably pay full whack anyway so definitely going to have to think about my approach as I'm sure others will.

Well at least I won't have to worry about keeping my points high and points holidays. Shame though because I was on 24% discount. I get that it won't be the same impact for PC payers but for those of us who avoid PC by keeping their commission ratio high it's a hit to the bottom line.

[Heisenberg]

Surely the day is drawing near when BF pull out of Australian racing altogether. I'm told that even with the amended commission structures, they are still eating a lot of the taxes/levies and are essentially leaving the AU markets up as loss leaders.

[Euler]

Volumes are growing on Aussie markets and most PC payers are not fussed with high market base rates. So I think whatever they are doing is working.

[Heisenberg]

Yes, quite true. But historically when BF have adjusted commission rates it's quickly been followed by the AU racing authorities doing something to counter the change. It's quite clear that BF isn't welcome in Australia as far as the various racing bodies are concerned. Although maybe now that the TAB are actively involved in trading it will diminish their resolve somewhat!

[Derek27]

Got it now! I was confused by the blank table below but I now realise it's colour-coded.

Wouldn't be any harm in displaying the percentages though. Do they think we're four-year-olds?

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[Euler]

I like the picture of the doggy.

[Naffman]

Surely the day is drawing near when BF pull out of Australian racing altogether. I'm told that even with the amended commission structures, they are still eating a lot of the taxes/levies and are essentially leaving the AU markets up as loss leaders.

I will really scale down my betting there now, I would be offered the 30% discount so might use that as leverage but I suspect it’ll only be offered to Aus based customers.

Amazing how they keep persevering with NSW racing, perhaps it gets new customers through the door as you say to bet on other codes/sports.

The end does appear to be nigh but glad to have made a nice amount out of it for this amount of time, 2% comm on other racing is far more attractive even if you have less of an edge.

[ShaunWhite]

I will really scale down my betting there now, I would be offered the 30% discount so might use that as leverage but I suspect it’ll only be offered to Aus based customers.

I may have been wrong about MBR discounts for UK customer no longer applying although I did say I wasn't sure. I'm just waiting for confirmation of that.

[gazuty]

From what I see in communities focussed on outright value betting, rather than trading/ greening/ being a liquidity provider (choose your poison), the commission rates really do matter to those seeking value. Essentially commission is an overround to them, the higher it is the harder it is to beat the overround and extract the value. Hence that might push those people out of the market - but time will tell.

Surely the day is drawing near when BF pull out of Australian racing altogether. I'm told that even with the amended commission structures, they are still eating a lot of the taxes/levies and are essentially leaving the AU markets up as loss leaders.

Spot on, racing authorities have never been enamoured with BF.

[Slugcrusher]

Interestingly Crown who own Betfair in Australia have just been sold to a Hedge Fund.

It seems likely as a trivial part of the Crown casino empire Betfair Aus will be sold off as a distraction.

This commission gouge with probable long term loss of customer implications suggests a fattening up for quick sale.

Wonder if TAB will buy as they are a huge player but currently struggling with wagering??

[deestar]

Ouch.

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