Betfair Points System Explained
The Betfair Points System is a system of credits that are used to calculate your commission rate - the percentage of winnings (and losses) that is paid to Betfair for use of their service.
Points are accrued each time you bet on the Betfair Exchange. You earn one point per 10p of commission paid on winnings (or implied commission, if you have net losses).
Net market winnings of £100
5% base rate commission
Current discount rate is 0%
Commission paid is £5
You gain 50 Betfair points.
Here's another example whereby loses are made and commission discounts are a factor:
For implied commission:
Net losses in a market of £200
5% base rate commission
Current discount rate is 10%
Commission paid is £9 (£10 x 5% x (1-10%))
So no matter if you're winning or losing, you'll be accumulating points. What this does mean is that as your discount rate on commission increases, it becomes increasingly difficult to gather points. Couple this with greater points intervals between discount rates and it becomes exponentially harder to reach higher discount rates.
Number of points between first and second discount rate: 1,500 (1,000 - 2,500)
Number of points between penultimate and final discount rate: 24,000 (126,000 - 150,000)
The number of points you have acquired translates into different discount rates depending on where your Betfair account in registered. For instance, a user in the UK with 80,000 Betfair points will enjoy a 50% discount on commission. For users in Austria, Switzerland and the Ukraine, 126,000 points are required for the same 50% discount.
While points stack to earn different discount rates in different countries, there are also differences in the maximum amount of discount that can be earned. In the majority of countries the maximum discount rate is 60%.
Each week Betfair erodes your points total by 15%, this is known as the Weekly Decay. You can take a number of Betfair holidays during which the points erosion process does not apply. These holidays are 1 week in duration and you gain another holiday every 3 months up to a maximum of four holidays. You neither lose nor gain Betfair points during this period, should you decide to renter the exchange, for instance.
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