BETFAIR DRIED OUT MY ACCOUNT
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enzabella2009
- Posts: 747
- Joined: Tue Nov 03, 2009 3:58 pm
Thank you all for yor careness and kindness.3rd time this year, £37 data usage charges, £402 data usage charges, £637 Tx exposure. 3 out of 3 money back. I have moved betdaq until the world cup...
Hi,
With regards to the 1000 bets/hour rule, does anyone know how is this calculated by betfair?
There are two parts to this,
I have seen an official comment on the BDP forum about them counting the number of reqs/second being based on a calendar second, not 20/1000ms. This is dodgy in my view as unless your PC clock is synced to the BF servers, you could be as far as 500ms out. This is typical of Betfairs rules and I suspect that the 1000/hour is per calendar hour, so again you are allowed 1000 between 09:00 - 10:00, another 1000 between 10:00 - 11:00, etc.
The part that concerns me more though is how they actually count bets. If I place an order for £10 and that is taken by 3 opposing betfair users (e.g. £3, £2 & £5). do they count this as 3 bets or 1? I only placed 1 order, however it took 3 other orders from other people to fill mine.
Bet Angel counts them individually on the Guardian screen, so in the example above Guardian would show the number 3 in my 'Matched bets' column. Surely Betfair do not count them this way as I have no control over how many opposing orders it takes to fill my single order.
If anyone can confirm that Betfair would only count this as 1 bet, I would appreciate it.
BTW, I think their charges are extortionate, they are way out of proportion to what people generally make/lose on Betfair. It would be fairer if any such charges were based on your balance rather than charging a billion pound per byte of data over your quota. So I am pleased for you Enzabella.
Thanks
SB
With regards to the 1000 bets/hour rule, does anyone know how is this calculated by betfair?
There are two parts to this,
I have seen an official comment on the BDP forum about them counting the number of reqs/second being based on a calendar second, not 20/1000ms. This is dodgy in my view as unless your PC clock is synced to the BF servers, you could be as far as 500ms out. This is typical of Betfairs rules and I suspect that the 1000/hour is per calendar hour, so again you are allowed 1000 between 09:00 - 10:00, another 1000 between 10:00 - 11:00, etc.
The part that concerns me more though is how they actually count bets. If I place an order for £10 and that is taken by 3 opposing betfair users (e.g. £3, £2 & £5). do they count this as 3 bets or 1? I only placed 1 order, however it took 3 other orders from other people to fill mine.
Bet Angel counts them individually on the Guardian screen, so in the example above Guardian would show the number 3 in my 'Matched bets' column. Surely Betfair do not count them this way as I have no control over how many opposing orders it takes to fill my single order.
If anyone can confirm that Betfair would only count this as 1 bet, I would appreciate it.
BTW, I think their charges are extortionate, they are way out of proportion to what people generally make/lose on Betfair. It would be fairer if any such charges were based on your balance rather than charging a billion pound per byte of data over your quota. So I am pleased for you Enzabella.
Thanks
SB
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enzabella2009
- Posts: 747
- Joined: Tue Nov 03, 2009 3:58 pm
In addition to any commission payments, Betfair customers will be charged a transaction fee if they process a large number of transactions.
NB – Transaction Charges only apply to customers placing or editing more than 1000 bets an hour.
At the end of every day, we add up all the bets you placed or edited (whether matched, cancelled or lapsed). If this number is in excess of 1000 in any hour of the day then:
i) for customers placing bets through the Application Programmers Interface (API), we will multiply this number by 1p; and
ii) for website customers, we will multiply this number by 2p.
For the purpose of Transaction Charges, bets on financial markets will count as 0.25 of a bet. This will form the basis of the transaction fee, but we will offset this fee against the following amount:
(Commission + Implied Commission) ÷ 2
where
Implied Commission = market losses x 3%
Any remaining amount will be charged to your account on a daily basis. Should your (commission + implied commission) ÷ 2 exceed this amount, you will not be charged a transaction fee. Accounts that relate to one person, entity, API subscription or a Master account (Trading version only) with related Sub accounts are treated as one customer for the purposes of transaction charging. Note that no Betfair points will accrue for transaction fees.
Example 1:
You are an API user who pays (commission + implied commission) ÷ 2 of £18.50 throughout a given day.
However, between the hours of 14:00 and 15:00 you placed 2500 bets and between the hours of 15:00 and 16:00 you placed 3250 bets, but in other hours you placed less than 1000 bets.
Your base transaction charge is (2500-1000)*£0.01 + (3250-1000)*£0.01 = £37.50.
Therefore you will be billed an additional £37.50-£18.50 = £19.00 on the following day.
Example 2:
You are a Website user who pays (commission + implied commission) ÷ 2 of £20.00 throughout a given day.
However, between the hours of 14:00 and 15:00 you placed 3000 bets on financial markets and 1500 bets on non financial markets. In all other hours you placed less than 1000 bets on all markets.
Your base transaction charge is (((3000*0.25) + 1500)-1000)*£0.02 = £25.00.
Therefore you will be billed an additional £25.00-£20.00 = £5.00 on the following day.
I hope this can help....I have no doubt that if users will not raise their voices will be more charges applied from betfair in the future. I have striked over betfair unfairness few times over this year, today I have moved all my funds to betdaq. I know it is difficult to trade on betdaq but I also know that my bankroll won` t be robbed by betfair mafia ..
NB – Transaction Charges only apply to customers placing or editing more than 1000 bets an hour.
At the end of every day, we add up all the bets you placed or edited (whether matched, cancelled or lapsed). If this number is in excess of 1000 in any hour of the day then:
i) for customers placing bets through the Application Programmers Interface (API), we will multiply this number by 1p; and
ii) for website customers, we will multiply this number by 2p.
For the purpose of Transaction Charges, bets on financial markets will count as 0.25 of a bet. This will form the basis of the transaction fee, but we will offset this fee against the following amount:
(Commission + Implied Commission) ÷ 2
where
Implied Commission = market losses x 3%
Any remaining amount will be charged to your account on a daily basis. Should your (commission + implied commission) ÷ 2 exceed this amount, you will not be charged a transaction fee. Accounts that relate to one person, entity, API subscription or a Master account (Trading version only) with related Sub accounts are treated as one customer for the purposes of transaction charging. Note that no Betfair points will accrue for transaction fees.
Example 1:
You are an API user who pays (commission + implied commission) ÷ 2 of £18.50 throughout a given day.
However, between the hours of 14:00 and 15:00 you placed 2500 bets and between the hours of 15:00 and 16:00 you placed 3250 bets, but in other hours you placed less than 1000 bets.
Your base transaction charge is (2500-1000)*£0.01 + (3250-1000)*£0.01 = £37.50.
Therefore you will be billed an additional £37.50-£18.50 = £19.00 on the following day.
Example 2:
You are a Website user who pays (commission + implied commission) ÷ 2 of £20.00 throughout a given day.
However, between the hours of 14:00 and 15:00 you placed 3000 bets on financial markets and 1500 bets on non financial markets. In all other hours you placed less than 1000 bets on all markets.
Your base transaction charge is (((3000*0.25) + 1500)-1000)*£0.02 = £25.00.
Therefore you will be billed an additional £25.00-£20.00 = £5.00 on the following day.
I hope this can help....I have no doubt that if users will not raise their voices will be more charges applied from betfair in the future. I have striked over betfair unfairness few times over this year, today I have moved all my funds to betdaq. I know it is difficult to trade on betdaq but I also know that my bankroll won` t be robbed by betfair mafia ..
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oddstrader
- Posts: 344
- Joined: Fri Apr 16, 2010 4:55 pm
good for you - would be great if more moved to betdaq