Does the new premuim charge still offset the total charges?

[oscar123]

Sorry for starting a new topic, but I tried posting this on another thread and it just got lost amongst all the other posts:

Lets say for example your overall charges is at 25%, so you have never incurred the charge up until now.

But from July, due to your past profitability you are now on 40%.

If you make £1000 for the week, and your total charges are £150, 15 %.

Do you get hit for the full £400, or are the charges for the week taken into account and you get hit for £250?

Is the maximum premium charge still the difference between 40/50/60% of your profit and your charges paid. Or are they now just taking 40/50/60% on your profit, regardless of what you have already paid on the week?

[mcfc1981]

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

[mcfc1981]

try this link see if u can make head n tail out of it.

https://terms.betfair.com/terms/

[oscar123]

Thanks mcfc1981. I'll have a look.

[mcfc1981]

let me know what u make of it.

[mcfc1981]

ive been on the phone they want 40% of future profit,your current % doesnt really matter.

[oscar123]

So you dont even get to offset your total weekly charges?

If you manage to get your weekly charges up to 20%, they still charge you the full 40?

[mcfc1981]

they take the difference from your week not the life time.
if ur on 10% for the week they will take another 30% in charges

[andyfuller]

As I said elsewhere:

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]

is that how the current pc works????
i thought it was off your lifetime p/l
if u was on lifetime of 19% u would pay an extra 1% on the weds on your weekly profit.

[andyfuller]

You would pay 1% of your lifetime PnL to bring you to 20% on the current PC system but that isn't 1% of your weekly profit. As a percentage of your weekly PnL it will be far higher than 1%.

In my case last week I had paid lifetime total charges of 19.69% so was 0.31% short of the 20%.

So I needed to pay a further 0.31% of my lifetime PnL to Betfair as Premium Charge.

But that as a percentage of what I made last week represented 17.19% of what I made for the week.

In the future I would have to have paid 57.19% of what I made on the week as an additional Premium Charge on top of what I had already paid in commission.

Assuming I have understood it all correctly.

[mcfc1981]

still cant get my head round it ive never paid before, will wait till they take the1st pc charge and take it from there.

[oscar123]

So even if you started doing extra backing/laying/arbing etc to help get your charges down, you will still be punished badly?

Keeping charges above 20% I think is just about do-able, or at least keeping them high enough to reduce the current charge.

But getting them over 40%? I dont see how that can be done. And any big winning weeks, which will come whatever, will get punished at an even higher rate.

I couldnt quit trading and go back to gambling, as it would be impossible to make a profit getting hit for 40% on a winning week and not getting anything back on a winning week.

So basically, once you go through the 250 mark, you are getting hit hard however you win and however much extra commission you try and genearte?