Transaction Fees

[ChileCheese]

Just curious, why does SBR take 1% off the top of Transfers? It doesnt actually cost them anything for us to transfer. Seems kind of odd.

[lemart5]

It keeps money in there pocket.

[sickler]

Just curious, why does SBR take 1% off the top of Transfers? It doesnt actually cost them anything for us to transfer. Seems kind of odd.

It's to discourage transfers (peer to peer betting). They want you to bet in the SBR sportsbook

[SprayBoy]

yeah it's just a way to keep the points flowing their way I would imagine

[NrmlCurvSurfr]

It's to discourage transfers (peer to peer betting). They want you to bet in the SBR sportsbook

Wouldn't that be equivalent to -101 (assuming the two bettors were playing at even money) ? Thats still better than the sbr book. Just saying.

[sickler]

Wouldn't that be equivalent to -101 (assuming the two bettors were playing at even money) ? Thats still better than the sbr book. Just saying.

The transaction fee applies to both the sender and receiver. If you give me 100 points, we each get nicked a point.

It's more to discourage posters from running books on the forum. There used to be several, it ended with the introduction of the transaction fees. I see Thadeus giving it a go in the points forum, he appears to be the only one.

[pavyracer]

Wouldn't that be equivalent to -101 (assuming the two bettors were playing at even money) ? Thats still better than the sbr book. Just saying.

Well a transfer has to be made first between bookie and bettor and each is taxed 1% then if the play wins another 1% tax on both to transfer back the points. So it's actually a 4% tax on a bet. So if you offer -110 lines it costs you 4% so you lost almost half of your vig on the transfers.

[NrmlCurvSurfr]

The transaction fee applies to both the sender and receiver. If you give me 100 points, we each get nicked a point.

It's more to discourage posters from running books on the forum. There used to be several, it ended with the introduction of the transaction fees. I see Thadeus giving it a go in the points forum, he appears to be the only one.

Oh I see. Thats not a bad Idea I suppose.

Maybe SBR could give us a limited amount of free transfers and then anything over that would get taxed.