I understand that you can be on 49 races without paying a turnover charge.if you bet on 55 races, are you charged for the 5 races over 50 or all 55 races?
Ste
ausy racing charge
If you go over the 50 races for the first time, Betfair will contact you and give you a warning (that you are not an economical customer). They advise that you should "change your betting strategies". So you do get a warning.
After the warning, it is my understanding you are now "turnover chargeable".
After the warning, it is my understanding you are now "turnover chargeable".
It's exactly like hhh says.
I find BF have been quite ambiguous about the matter. Infact, the 50 markets rule doesn't apply (even though it's stated in the ""rules""). If you exceed $2000 lays in TO markets you're a potential target for them.
I know some bigger traders trade them so it must be possible. I'm slightly on the dumb side so I don't touch TO markets anymore. Shame to leave few $$$ lying on the table.
So I'd say milk the TO markets for all you can until you get a few calls, then stop or change tactics.
I find BF have been quite ambiguous about the matter. Infact, the 50 markets rule doesn't apply (even though it's stated in the ""rules""). If you exceed $2000 lays in TO markets you're a potential target for them.
I know some bigger traders trade them so it must be possible. I'm slightly on the dumb side so I don't touch TO markets anymore. Shame to leave few $$$ lying on the table.
So I'd say milk the TO markets for all you can until you get a few calls, then stop or change tactics.
Walshy,
Read all about it here:
http://www.factsaboutfunding.com.au/
There is a thread on the forum called "Race fields Legislation" or similar that provides background history to it all.
In short, trade Victoria, Queensland, Tasmania & NT as much as possible (I assume the more liquidity they do get will help them stay with the gross profit model in future).
Only trade up to 50 markets from NSW, SA, WA & ACT per week (Monday to Sunday). (Also assume the less liquidity they get, the more likely
they will move away from turnover model).
Steve,
I missed your actual question sorry. I think there is an equation they use to work out your turnover fee based on their net losses for the week from your activities. Check out the "Race fields Legislation" thread - this has the emails from betfair that provides their t&c's.
Read all about it here:
http://www.factsaboutfunding.com.au/
There is a thread on the forum called "Race fields Legislation" or similar that provides background history to it all.
In short, trade Victoria, Queensland, Tasmania & NT as much as possible (I assume the more liquidity they do get will help them stay with the gross profit model in future).
Only trade up to 50 markets from NSW, SA, WA & ACT per week (Monday to Sunday). (Also assume the less liquidity they get, the more likely
they will move away from turnover model).Steve,
I missed your actual question sorry. I think there is an equation they use to work out your turnover fee based on their net losses for the week from your activities. Check out the "Race fields Legislation" thread - this has the emails from betfair that provides their t&c's.
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steven1976
- Posts: 1744
- Joined: Tue Jan 19, 2010 6:28 am
Hi HHH,
Sorry if not understood in my original post. I was trying to say for example if I traded 49 or 50 races in the week for say 20,000. My understanding is I wouldn't pay. However if I accidentally went over 50 races and traded 55 races, would I be subject to the charge on all 55 races or just the 5 races over the 50 mark.
Ste
Sorry if not understood in my original post. I was trying to say for example if I traded 49 or 50 races in the week for say 20,000. My understanding is I wouldn't pay. However if I accidentally went over 50 races and traded 55 races, would I be subject to the charge on all 55 races or just the 5 races over the 50 mark.
Ste
Steven1976, in case you met turnover charge conditions (50+ markets and 2k+ on "back" bets) you will be charged for all the markets, affected by TC, wich you played (55 in your example)steven1976 wrote:Hi HHH,
Sorry if not understood in my original post. I was trying to say for example if I traded 49 or 50 races in the week for say 20,000. My understanding is I wouldn't pay. However if I accidentally went over 50 races and traded 55 races, would I be subject to the charge on all 55 races or just the 5 races over the 50 mark.
Ste
Here is list of tracks: http://betfair.com.au/turnovercharge/states_tracks.html
Orange ones are bad
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steven1976
- Posts: 1744
- Joined: Tue Jan 19, 2010 6:28 am
Thanks somewhere, that explains what I was wanting to know.