New Betfair Transaction Charge

[2020vision]

Hi All

Is there anyone out there that could translate this into plain English for me please?

Does this mean that we will once again be able to offset over 1,000 transactions
per hour against the Betfair PC or only on profits/losses? Any examples of this?

As you are a Betfair customer who has recently been affected by the Transaction Charge, we're writing to inform you of a change that we will shortly be making to the way the charge is calculated.

In order to bring the Transaction Charge in line with our other charging mechanisms, we will be changing the definition of Implied Commission. From 22nd February 2010 Implied Commission will be calculated using a flat 3% rate of market losses instead of your personal commission rate. Potential Transaction Charges will then be offset against the following amount:

(Commission + Implied Commission) ÷ 2

Where Implied Commission = market losses x 3%.

Maybe I'm just thick, Thanks - Michael

[milfor]

No. They just make the same change with the transaction charge they made with the premium charge:

Depending on the markets you played in your implied commission was between 3% and 3.5% normally. Now they say it's always 3%. This means that you can make LESS transactions before incurring transaction charge. But if you make not more than 1000 transactions per hour you are still safe of course.