Premium Charge Question

[wesdag]

Could someone please explain how losses impact on the premium charge.

Assuming I'm in profit of course and have used up my allowance, if during a week I had:

£1,000 of winning bets
£500 of losing bets

so therefore net profit of £500
and assuming commission of 4%

would pc be payable and at what amount?

Thanks in advance.

[milfor]

Assuming you are "only" on the normal 20% premium charge (not 40% or 60%).

commission generated:

4% of 1000: 40
3% of 500: 15
total: 55

As winner and loser have to share commission: 55/2=27.50
Betfair wants 20% of 500: 100
So you would have to pay 100-27.50=72.50 premium charge.

Last year I advertised a loophole against premium charge on this forum.
But nearly nobody believed me and the loophole is closing at the moment unfortunately.

[wesdag]

Thanks for your reply.

Such a shame there's no workable loophole to get round this robbery.

[rourkem]

That just confirms my doubts. Thanks for this as well!

[Dai_Young]

https://betting.betfair.com/betfair-ann ... 224-6.html


Some pretty good news I think