Transaction charges

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Transaction charges

Postby Dai_Young » Sat Aug 15, 2020 8:22 am

With regards to the new transaction charges being implemented by betfair from September 1st, does anyone know if bet cancellations are counted as a transaction? The gruss transaction counter doesn't count them. It's been so long since I've had to consider this that I've forgotten how it works.
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Re: Transaction charges

Postby Captain Sensible » Sat Aug 15, 2020 12:04 pm

Transaction have always been when a new bet ref was generated so new bets and updated bets. Cancelled order aren't classed as transactions
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Re: Transaction charges

Postby Dai_Young » Sat Aug 15, 2020 12:09 pm

Captain - thank you
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Re: Transaction charges

Postby tradeaj71 » Sat Aug 15, 2020 11:26 pm

From September 1st , Failed transactions will count within the hourly alowance (which is a change from the current situation) but not cancellations.
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Re: Transaction charges

Postby Castillo » Thu Aug 20, 2020 10:14 am

Dai_Young wrote:With regards to the new transaction charges being implemented by betfair from September 1st

I wasn't aware of revised Transaction Charges being implemented from Sep 1st, is there a link to the Betfair site which details what changes are being made?

Thanks
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Re: Transaction charges

Postby tradeaj71 » Thu Aug 20, 2020 11:36 pm

I was informed by email.

You shoud be able to view here:
https://m.mail.betfair.com/nl/jsp/m.jsp ... e_campaign
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Re: Transaction charges

Postby Captain Sensible » Fri Aug 21, 2020 12:12 am

They mentioned it in June's newsletter, the main part I took from it was the "• There will be no exemptions from this charge." so hopefully it puts everyone on the same footing now.

Transaction Charge Changes

Over the years, the Exchange has processed an increasing number of transactions at an ever-increasing
cost to infrastructure and stability.
Therefore, from 1st September 2020, Betfair will be changing the thresholds of the Transaction Charge. The
changes are as follows:
• The new limit of “free” transactions will be set at 5,000 transactions per hour.
o A “transaction” shall include all bets placed and all failed transactions.
• Every transaction that exceeds the limit will incur a cost of £0.002 (a fifth of a penny).
o This cost will be offset by a user’s commission generated.
• There will be no exemptions from this charge.
We have modelled the new charge to disincentivise wasteful transactional behaviour and promote
platform stability on a level playing field. It is possible to trade multiple events and markets without ever
incurring any of these charges.
Your account manager will be in touch if you would have incurred these charges in the past, giving you an
opportunity to update trading strategies and fix bugs before the charge goes live on 1st September.
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Re: Transaction charges

Postby N Counter » Fri Aug 21, 2020 9:17 am

Can anyone tell me what constitutes a failed transaction?
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Re: Transaction charges

Postby GaryRussell » Fri Aug 21, 2020 9:48 am

A failed transaction is when the bet is rejected due to balance exceeded or market suspended for example.
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Re: Transaction charges

Postby N Counter » Fri Aug 21, 2020 3:04 pm

Thanks Gary.
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Re: Transaction charges

Postby Castillo » Fri Aug 21, 2020 4:32 pm

Thanks for the info tradeaj71 & Captain....

So it's 5000 per hour instead of 1000 & the cost of any further transactions exceeding this amount has decreased to £0.002 as opposed to £0.01
Regarding failed transactions, when the API starts playing up depending on your Excel Spreadsheet design it's very easy to cancel & resubmit bets which because of the API_Error never get placed, I personally manage this by monitoring the Cell N2 so if it exceeds 1000 or 5000 in Sep no further bets are placed....=IF(AND($N$2>=1000),"STOP","") etc.

But glad to see the increase to 5000 because if you are involved in many markets with below minimum stakes 1000 transactions per Hour doesn't last very long.

Cheers
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Re: Transaction charges

Postby Captain Sensible » Fri Aug 21, 2020 4:47 pm

You'd have to be pretty hardcore to pay transaction charges now with 5000 per hour free and every £1 in comm offsetting you an additional 500. Should open a few more avenues for people who've previously capped their transactions too.
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Re: Transaction charges

Postby N Counter » Fri Aug 21, 2020 4:55 pm

Is there any information about whether these charges would be offset against premium charge?
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Re: Transaction charges

Postby Captain Sensible » Fri Aug 21, 2020 5:39 pm

Not offset against PC, they're charged daily and only offset by that day's implied commission
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Re: Transaction charges

Postby N Counter » Fri Aug 21, 2020 5:57 pm

Thanks Captain.
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