It will work the same as the current PC, they will hit you every Wednesday for x amount which will bring your weekly Total Charges up to 40% of your weekly Gross Profit.mcfc1981 wrote:WHAT R THEY TRYING TO SAY, R THEY GOING TO CHARGE ME MY BASIC COMMISSION ON ALL BETS THEN AT THE END OF THE WEEK TAKE 40% OF ANY PROFIT?
New PC charge now up to 60% from 18 July 2011
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andyfuller
- Posts: 4619
- Joined: Wed Mar 25, 2009 12:23 pm
just phoned them,what jokers they are.
i asked the question will i be paying 40% on future profit or the difference between 22.5% on and 40%
answer mmmmmmmmm none of the staff are sure at the minute
when were all up to speed someone will give u a call back
i asked the question will i be paying 40% on future profit or the difference between 22.5% on and 40%
answer mmmmmmmmm none of the staff are sure at the minute
when were all up to speed someone will give u a call back
There's an email address for Premium Charge enquiries - [email protected].
And if you want to let Betfair know what you think of the Premium Charge increase, Niall Wass is the director in charge of marketing - [email protected].
Jeff
And if you want to let Betfair know what you think of the Premium Charge increase, Niall Wass is the director in charge of marketing - [email protected].
Jeff
mcfc1981 wrote:just phoned them,what jokers they are.
i asked the question will i be paying 40% on future profit or the difference between 22.5% on and 40%
answer mmmmmmmmm none of the staff are sure at the minute
when were all up to speed someone will give u a call back
In plain english it meansFerru123 wrote:I wonder what that means in plain English...
'Will allow us to capture a greater share of wallet from existing customers' - I wonder if Betfair's competitors will pick up on the fact that Betfair have basically admitted that they want to extract more money from their existing customers?
Jeff
freddy wrote:If there are any people that are still unsure of Betfairs Directionthen
"We are developing an integrated Exchange and sportsbook product that will allow us to provide more in-play markets as well as giving customers guaranteed execution in less liquid markets. We believe this liquid Exchange and sportsbook combination will be unique to Betfair and will allow us to capture a greater share of wallet from existing customers as well as attracting new ones."
thankyou to all the profitable traders that have showed us how to profit from our markets,
now please all bugger off, we will take it from here
I wonder how that will affect price movements on Betfair.
For example, if Betfair are laying a favourite, they won't want it drifting well above the odds the other bookies are offering.
Jeff
For example, if Betfair are laying a favourite, they won't want it drifting well above the odds the other bookies are offering.
Jeff
Innertube wrote:Freddy, the best comment on here by far. That is exactly Betfair's plan, they are undergoing a full transition to a bookmaker. Sod the exchange mechanism.
you will pay 40% as they calculate the premium assuming that up to 18July you generated 40% charges.mcfc1981 wrote:just phoned them,what jokers they are.
i asked the question will i be paying 40% on future profit or the difference between 22.5% on and 40%
answer mmmmmmmmm none of the staff are sure at the minute
when were all up to speed someone will give u a call back
Someone on the FB page (http://www.facebook.com/pages/Betfair-P ... 2673473703) suggested an open source exchange (ie 0% commission and no charges), which sounds like a good idea in principle.
If someone could be pursuaded to launch one (with revenue coming from advertising and from software companies using the API for their platforms), that would be the ideal solution IMHO.
Jeff
If someone could be pursuaded to launch one (with revenue coming from advertising and from software companies using the API for their platforms), that would be the ideal solution IMHO.
Jeff
no I haven't and I probably could make it pay on betdaq but the big thing is I am 31. I am at the point now where I have probably quite a few months before this charge will hit me. My choices are try and start again on betdaq and literally have no fallback. Betdaq was the backup plan! If betdaq turns round and does the same thing 5 years down the line where do I go? I am then unemployable. I can smash through my remaining allowance, bundle it away go back to the office with my tail between my legs, get back some good experience, look for another job and have a good deposit for a house in the bag and supliment my income on betdaq.freddy wrote:Thats a shame, i guess there are quite a few that will have to do that.
Presumably you've given Betdaq a good go ???
Sports trading is great! I love it! but this just shows theres no long term future in it.
Yeah i know what your saying totaly makes sense in your position.
Mine's slightly different as ive always been mostly self employed in the past, so if it ends in a few years time on Betdaq and there is noware else to go ,
i can just about get away with the gaps in the C.V.
i hope anyway
.
Mine's slightly different as ive always been mostly self employed in the past, so if it ends in a few years time on Betdaq and there is noware else to go ,
i can just about get away with the gaps in the C.V.
i hope anyway
.Betfair have told me the following (in an effort to convince me that it's worth my while learning how to trade, as I'll be able to earn lots of money before the charges will affect me):
"When looking at Betfair's top 70 winners combined from last year, these customers made a larger profit than Betfair."
Maybe their thinking is 'if you can't beat them, join them'...
Jeff
"When looking at Betfair's top 70 winners combined from last year, these customers made a larger profit than Betfair."
Maybe their thinking is 'if you can't beat them, join them'...
Jeff