Just spoke to Betfair and the turnover charge is still applicable. Apparently the turnover charge page will be updated soon.
Despite the change in their fee structure Victorian racing will be business as usual.
Australian racing
Betfair Oz CEO Tim Moore-Barton on http://www.rsn.net.au/ Racing Ahead program tomorrow morning.
Discussing the new pricing strategy & impact on wagering environment
Discussing the new pricing strategy & impact on wagering environment
If I proposed an alternative whereby the money made by pc was divided by bets placed and was charged in that manner (effectively as a cost per trade for using the exchange) what do people think?
Ostensibly pc is charged on the basis that pc payers have "worked it out" and are not otherwise paying their fair share towards the cost of the exchange.
Perhaps betfair should lower the bet placement threshold to 100 per hour (which doesn't interfere with recreational/mug punters) and charge 1 cent per bet (in replacement for PC)
Stock exchanges charge some fixed fees for placing trades. Should we encourage a move to that model?
Otherwise today's changes don't matter so much to those out there that pay PC.
Ostensibly pc is charged on the basis that pc payers have "worked it out" and are not otherwise paying their fair share towards the cost of the exchange.
Perhaps betfair should lower the bet placement threshold to 100 per hour (which doesn't interfere with recreational/mug punters) and charge 1 cent per bet (in replacement for PC)
Stock exchanges charge some fixed fees for placing trades. Should we encourage a move to that model?
Otherwise today's changes don't matter so much to those out there that pay PC.
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spreadbetting
- Posts: 3140
- Joined: Sun Jan 31, 2010 8:06 pm
Dunno if everyone else has had the email stating the changes in the base rates yet again.
Hi all,
Apologies for the very short notice however I wanted to draw your attention to some changes that are to be applied to the Market Base Rate of Australian Horse Racing, Dog Racing and Harness Racing. Note these will be effective from 7th July 2015.
• Betfair will be lowering the Market Base Rate to 6% (from 6.5%) for all thoroughbred races in Victoria and South Australia as well as Harness Racing in Victoria and Greyhound Racing in New South Wales
• Betfair will be introducing a variable Market Base Rate across Horse, Greyhound and Harness Racing across States ranging from 6% to 8%
Rates By Code By State
You will be able to see what Market Base Rate applies to the race you are going to bet on in the “Rules” tab in the Market
Why are we doing this?
1) Racing authorities have recognised the role the Exchange plays in the wider wagering ecosystem and want to make it easier for Betfair to operate
2) In some States the Market Base Race has increased due to the charges levied at Betfair in these States
Note
• Ante Post bets will only have their Market Base Rate changed if it has been lowered
• Ante Post bets will be settled at the Market Base Rate on the day i.e. The lowest possible Market Base Rate
Once again apologies for the short notice but this is something that has been forced upon me at equally short notice.
Thanks
James
Hi all,
Apologies for the very short notice however I wanted to draw your attention to some changes that are to be applied to the Market Base Rate of Australian Horse Racing, Dog Racing and Harness Racing. Note these will be effective from 7th July 2015.
• Betfair will be lowering the Market Base Rate to 6% (from 6.5%) for all thoroughbred races in Victoria and South Australia as well as Harness Racing in Victoria and Greyhound Racing in New South Wales
• Betfair will be introducing a variable Market Base Rate across Horse, Greyhound and Harness Racing across States ranging from 6% to 8%
Rates By Code By State
You will be able to see what Market Base Rate applies to the race you are going to bet on in the “Rules” tab in the Market
Why are we doing this?
1) Racing authorities have recognised the role the Exchange plays in the wider wagering ecosystem and want to make it easier for Betfair to operate
2) In some States the Market Base Race has increased due to the charges levied at Betfair in these States
Note
• Ante Post bets will only have their Market Base Rate changed if it has been lowered
• Ante Post bets will be settled at the Market Base Rate on the day i.e. The lowest possible Market Base Rate
Once again apologies for the short notice but this is something that has been forced upon me at equally short notice.
Thanks
James
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trader-eric
- Posts: 15
- Joined: Wed Jun 10, 2015 7:49 pm
Hi all, can somebody set me straight regarding Qld racing please? I must have missed something regarding Turnover Charge for Qld as I have only been trading on the races flagged as Green on this new commission meter to date except Qld, why are they in the red @ 8% across all codes 
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spreadbetting
- Posts: 3140
- Joined: Sun Jan 31, 2010 8:06 pm
I think it's just the Market Base Rate that's changed on tracks not their turnover status. Sadly the link I used to use for the turnover markets has been redirected to the MBR page http://betfair.com.au/helpcentre/turnov ... racks.html so I can't check to see if they're still non turnover. Just have to wait til a QLD market crops up and check the info.
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spreadbetting
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- Joined: Sun Jan 31, 2010 8:06 pm
Just did a search and seems they've simplified the turnover page rather than have a list of turnover courses. http://www.betfair.com.au/helpcentre/turnovercharge/
"Where does the Turnover Charge apply?
As at 7 July 2015, the Turnover Charge applies in the following markets:
WA All codes
ACT All codes
NSW Thoroughbred and Harness Racing"
"Where does the Turnover Charge apply?
As at 7 July 2015, the Turnover Charge applies in the following markets:
WA All codes
ACT All codes
NSW Thoroughbred and Harness Racing"
Yes and yes. Despite going back to a turnover model, the reduced percentage still makes it viable for Betfair. Business as usual.
Do you think they would be better or worse off across the board? Would this drive turnover in your opinion?
I'm all for change if it's in the long term good of the exchange.
I think under your proposed structure I would pay little or no PC. Not sure how Betfair would like that.gazuty wrote:If I proposed an alternative whereby the money made by pc was divided by bets placed and was charged in that manner (effectively as a cost per trade for using the exchange) what do people think?
Do you think they would be better or worse off across the board? Would this drive turnover in your opinion?
I'm all for change if it's in the long term good of the exchange.
Under my proposal the outcome for betfair would be neutral. You take revenue generated by PC and divide it by number of individual bets made (not matched but made). (There will of course be consequences for spoofers and those engaged in microbetting etc).blueport wrote: I think under your proposed structure I would pay little or no PC. Not sure how Betfair would like that.
Do you think they would be better or worse off across the board? Would this drive turnover in your opinion?
I'm all for change if it's in the long term good of the exchange.
Unfortunatley for me I'd probably pay more under this model. Although that would depend on the price per bet placed (which I predict will be less than 1c per bet when bc divides total pc into those that make more than 100 bets per day).
Fixed fee is an economically fairer way than a percentage of winnings if we are talking about making a "proper contribution" to exchange infrastructure.