Betfair Premium Charge
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Nero Tulip
- Posts: 708
- Joined: Wed Apr 15, 2009 5:29 pm
I'm seeing some rumours circulating re: Premium Charge bands. Anyone heard anything ?
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spreadbetting
- Posts: 3140
- Joined: Sun Jan 31, 2010 8:06 pm
More like 60%Euler wrote:Just arrived in my inbox, 40%!
It's a charge that will end the trading days of some, and it's an aspiration charge for those who don't reach the criteria yet
This shows just how precarious BF's position is. They are not growing, they have become obsessed with the bottom line and couldn't give a toss about their customers. The only way they appear to be increasing turnover is by increasing charges for customers
There is no future at all for BF if they continue this way
This shows just how precarious BF's position is. They are not growing, they have become obsessed with the bottom line and couldn't give a toss about their customers. The only way they appear to be increasing turnover is by increasing charges for customers
There is no future at all for BF if they continue this way
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Nero Tulip
- Posts: 708
- Joined: Wed Apr 15, 2009 5:29 pm
Betdaq. And also time to up my turnover on breakeven punting strategies again. Thankfully I'm in the 40% band.
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Nero Tulip
- Posts: 708
- Joined: Wed Apr 15, 2009 5:29 pm
"From 18th July 2011 Betfair will be making some changes to the Premium Charge which may affect you directly.
Full details of the changes can now be found on the Betfair Charges page under the About Us section of the website but the changes can be summarised as follows:
Customers will be subject to Premium Charges at higher rates if they satisfy all of the following conditions:
Lifetime net profits (gross profits less commission paid and Premium charges debited) exceed £250,000
Lifetime commission generated less than 40% of lifetime gross profits
Bet in more than 1,000 markets
As of 20th June 2011 your exchange betting activity satisfies the criteria set out above. In order to view the Premium Charge rate that will apply to your future betting as well as the calculation that determines your rate and the date from which the rate becomes effective, we have developed a secure online portal. The portal can be accessed at terms.betfair.com by logging in with your Betfair username and password.
For the purposes of introducing a change to the Premium Charge rate that applies to your betting, we will assume that you have always incurred the Premium Charge at the prevailing rate. For example, if the Premium Charge rate applicable to your betting is now set at 40%, we will assume that you have always paid Premium Charges at 40%. This will ensure that you are considered to have generated total charges equal to at least 40% of lifetime gross profits at the point that the new rate becomes effective.
For more information, please visit an FAQ section on our forum. We hope the information provided will outline why we are making these changes and how they will be implemented in practice.
Alternatively, if you have any additional questions about the changes we are making that are not covered in the FAQs then please contact your account manager or email [email protected].
Yours sincerely,
Betfair Pricing"
Full details of the changes can now be found on the Betfair Charges page under the About Us section of the website but the changes can be summarised as follows:
Customers will be subject to Premium Charges at higher rates if they satisfy all of the following conditions:
Lifetime net profits (gross profits less commission paid and Premium charges debited) exceed £250,000
Lifetime commission generated less than 40% of lifetime gross profits
Bet in more than 1,000 markets
As of 20th June 2011 your exchange betting activity satisfies the criteria set out above. In order to view the Premium Charge rate that will apply to your future betting as well as the calculation that determines your rate and the date from which the rate becomes effective, we have developed a secure online portal. The portal can be accessed at terms.betfair.com by logging in with your Betfair username and password.
For the purposes of introducing a change to the Premium Charge rate that applies to your betting, we will assume that you have always incurred the Premium Charge at the prevailing rate. For example, if the Premium Charge rate applicable to your betting is now set at 40%, we will assume that you have always paid Premium Charges at 40%. This will ensure that you are considered to have generated total charges equal to at least 40% of lifetime gross profits at the point that the new rate becomes effective.
For more information, please visit an FAQ section on our forum. We hope the information provided will outline why we are making these changes and how they will be implemented in practice.
Alternatively, if you have any additional questions about the changes we are making that are not covered in the FAQs then please contact your account manager or email [email protected].
Yours sincerely,
Betfair Pricing"
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lesblakeman
- Posts: 15
- Joined: Wed Jun 22, 2011 4:02 pm
Staggering development , had to read it three times to take it in.
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JollyGreen
- Posts: 2047
- Joined: Sat Mar 21, 2009 10:06 am
It could reach 60% unless I am misreading something.
Basically this is a "we've screwed everyone over for as long as we can but despite this our service remained shit and we couldn't plug the leaks. Therefore having failed to deliver a reliable platform and excellent service we need you to pay more to help us stay afloat!"
Basically this is a "we've screwed everyone over for as long as we can but despite this our service remained shit and we couldn't plug the leaks. Therefore having failed to deliver a reliable platform and excellent service we need you to pay more to help us stay afloat!"
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JollyGreen
- Posts: 2047
- Joined: Sat Mar 21, 2009 10:06 am
Most robbers wear a mask but Betfair just smile and send out the e-mail as if it is good news!
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as a relative newbie I really feel for the guys that have to take this hit, I am not one of them, I hope this is the prompt everyone needs to move to betdaq, I am utterluy disgusted and seriously consdering taking my money out after today and dropping the lot into betdaq and get betangel for DAQ, I hope this sinks betfair I really do