betfair charges?

[bentos]

when and how do betfair charge us for the data usage on there site...im seeing charges of £4 to £10 or so a day. How and when will they take this money off me?

[Captain Sensible]

I think they're charged daily if you go over the limits. It can get a bit complicated to explain so probably best read Betfairs charges page , the bit you need to look at is the transaction and data request charges.

http://www.betfair.com/aboutUs/Betfair.Charges/

A lot depends on how much commission you pay as they do offset charges against commission paid. People generally find they get charged whilst they're data collecting or playing with small stakes. I'm sure alot of us exceed their limits on a regular basis but because of our comms paid we never end up paying extra in data charges

[bentos]

thanks for the reply its just i can check what i get charged daily and im not sure when they are going to actually request the money i dont want it to add up and then get a big bill.....i bet in-running and i wont open the market up until i have to because it seems i get charged more for having the race open with it receiving the prices with my refresh rate being on 1 sec. i pay 5% and that comes off my winnings but not sure where they will take the data charge from and how

[Captain Sensible]

They don't accumulate the charges they deduct them the following day off your current balance.

If you go to your account statement on the website you can select Data Request Charges to filter them from the drop down menu and you'll see they're taken off daily. You'll see what time they get deducted from your account as it's possible you'll miss them just from having lots of transactions on the statement.

I've no idea why you're getting charged if you've a 1 second refresh on inrunning markets, maybe it's transaction charges for placing over 1000 bets per hour or turnover charge if you're playing the Aus racing. I'd email datausage@betfair.com ask them for a breakdown they'll usually very quick and will send you a csv file listing your transactions and why you're being charged. It'd be worth checking why as the data/transaction charges can easily ramp up and it may be something very simple to do to avoid them.

[bentos]

im only going on the gruss software application which tells you what you have been charged from the account drop down box....but i havent seen anything come off my betfair balance...i will enquire today.............while im on could you please tell me how i can setup a stop loss for in-running i wud love to have a button where when i press it if i get the price reaction correct i make a green book of x amount but if the price goes the wrong way it triggers a stop loss to lose x amount
eg. i want to bet £10....if the price goes correctly i green up to profit £5 on every horse if it goes the wrong way i lose £2.....the stop lose wud have to be cancelled once the race greened up just in case there was a faller at the last when clear.....would this be possible if so could you explain what i would need to do? much much appreciated if you could

regards

Nick

[Captain Sensible]

I didn't realise you were using some drop down box in Gruss to calculate the charges. If Betfair haven't taken any off you don't need to worry that they're stockpiling them to hit you later , the data/transaction charges are taken daily if they're due. I haven't seen the drop down box so no idea what figures it's calculating I'll try and look later today when I'm trading.

As for the stop loss I've no idea as I don't use them , have a search of the board or the manual for stop losses as there is a comprehensive stop loss facility within the program. If you can't find what you need do a post in the help section re:stop losses as it'll be overlooked in here.

[bentos]

THANKS FOR THE REPLY I WILL POST ON THE HELP PAGE

[Captain Sensible]

Just had a look at the request drop down on Gruss, unless yours is showing something different it looks like you're just reading the details wrong




The details it shows are just the amounts of commission you've paid and the the amount of 'Implied Commission' which is the commission earned from your losses. It's not showing how much you'll pay , it just uses that figure to calculate any extra data requests you could do without paying charges. On mine it shows I could ramp up to 61 requests per second for an hour without paying any additional data charge.

[alrodopial]

On mine it shows I could ramp up to 61 requests per second for an hour without paying any additional data charge.

A lot of betting is required for this!!!

[peleus]

Sounds logical, but what would be the minimum here?

[bentos]

cheers captain