Hi
I noticed when trading on horse racing in US and AUS, the Betfair commission charge is different compare to UK market. Currently I been charged for 10% rather then the normal 2% rate. I have read all the section of Betfair rule below, but can't see it's been mentioned anywhere. Did anyone else noticed this?
I have UK registered account.
https://www.betfair.com/aboutUs/Betfair ... /#charges1
Thanks
betfair commission for market in none UK countries
Commission for Australian markets is always higher because some courses have a turnover charge which Betfair have to pass on some how.
https://www.betfair.com.au/hub/racing-n ... explained/
https://www.betfair.com.au/hub/racing-n ... explained/
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ShaunWhite
- Posts: 10559
- Joined: Sat Sep 03, 2016 3:42 am
It's higher on all of them whether they qualify for Turnover Charge or not, for Australian thoroughbred, harness and greyhound racing the Market Base Rate ranges from 6% – 10% depending on the state and racing code. The one you want to watch out for is Turnover Charge on NSW tracks https://www.betfair.com.au/hub/racing-n ... er-charge/
This charge applies to customers who during a week meet all three of the below criteria:
. have matched back bets on 25 or more RNSW markets;
. have matched back bets with an aggregate value of $2000 or greater on RNSW markets; and
. the total commission generated by the customer on RNSW markets is less than 1.5% of the aggregate value of matched back bets placed by the customer on those markets.
The charge will be 1.2% of the aggregate value of matched back bets on RNSW markets.
This is in addition to commission.
The small sweetener is that Commission Discount Rates still apply in Australasian markets even though they no longer apply to non-Australasian markets.
This charge applies to customers who during a week meet all three of the below criteria:
. have matched back bets on 25 or more RNSW markets;
. have matched back bets with an aggregate value of $2000 or greater on RNSW markets; and
. the total commission generated by the customer on RNSW markets is less than 1.5% of the aggregate value of matched back bets placed by the customer on those markets.
The charge will be 1.2% of the aggregate value of matched back bets on RNSW markets.
This is in addition to commission.
The small sweetener is that Commission Discount Rates still apply in Australasian markets even though they no longer apply to non-Australasian markets.