Premium Charge will be changed in October

[mak]

Hi to all
can someone clarify the following?

1. If someone is winning the last week 1000 he does not have to pay PC is that right?

2. If he wins 2000 he have to pay for PC (1000 x 20%)-commission that already been paid? = 150

3. if next week there is no winnings or loses what happens?

4. When BA for betdaq will be ready?

Can someone help on this please ?

[Captain Sensible]

It's a bit more complicated than that and you'd need alot more info such as comms paid etc to work it out.

have a look at the premium charge portal

https://premiumcharge.betfair.com/PremiumPortal/portal as it'll give you a better idea how close you are to PC charges even though it's due to change on 12 Oct.

Basically as soon as your commission paid is less tan 20% of you winnings you'll be liable and get a £1000 PC allowance to use before the start taking any money off you.


1) Ummm depends how much commission you've paid to win that 1000

2) The PC is calculated weekly so previous weeks have no effect other than to the rolling 60 weeks which may or may not push you into pc territory , see it's not that simple to calculate

3) No rebates for losing weeks if that's what you were looking for

4) I have no idea

[mak]

""Basically as soon as your commission paid is less tan 20% of you winnings you'll be liable and get a £1000 PC allowance to use before the start taking any money off you.""

Can we get an example?
say I am winning 5.000€ the last 60 weeks (commision paid 5% ~300€)
this week I am winning 1.500€ (I wish..), can I calculate PC?

I will try to read more about it (too complicated though)
Thanks Captain

[Captain Sensible]

Can we get an example?
say I am winning 5.000€ the last 60 weeks (commision paid 5% ~300€)
this week I am winning 1.500€ (I wish..), can I calculate PC?

Alot depends on how much commission you've paid to get that 5.000€ as I doubt you have never had a losing market to get that amount. You get credited with implied commission for losing markets so they need to be added into any calculations for that 60 week period.

You also need to know how much commission (actual and implied commission) has been paid to win that 1.500€

Best bet is looking at the premium charge portal as it'll give you those details and how close you currently are to paying as the rules will change soon anyway to the lifetime of your account

[mak]

Thanks Captain

[doris_day]

Well, the changes have helped me which is nice. I've been paying £3-400 a week almost since the PC started but from the statement Betfair sent me yesterday, it'll be a couple of months before I start paying again.

For the first couple of years after I joined Betfair back in 2001 I did a lot of arbing and as luck would have it I lost quite a bit on Betfair. Although I was winning overall, my bookies accounts were quickly limited and I finally ran out of friends and relatives to open accounts for, so my arbing days were all too soon over.

About 18 months ago I designed an automated algorithm which has been doing very well and its very efficient. Too efficient for Betfair by the sounds of it, although the PC was only put into place because they wanted to boost their bottom line prior to going public (once recession looks over) and they had the bright idea of 'stealing' the profits from their winning clients just because.....well, they could get away with it as they weren't regulated correctly.

Well, the upshot of the new PC calculations is that my previous losses can now offset my recent profits and although Betfair won't be returning any of the money they've already 'stolen' from me, at least I'll be getting a few months respite.

Better than nowt, eh ?

[Captain Sensible]

Beware of those bearing false gifts Doris, they'll soon claw those couple of months back with the end of the £1k allowance and the drop in implied comms to 3%, long term you'll be worse off.

[doris_day]

That's guaranteed......