Transaction Fees
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.
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It keeps money in there pocket.Comment -
It's to discourage transfers (peer to peer betting). They want you to bet in the SBR sportsbookOriginally posted by ChileCheeseComment -
yeah it's just a way to keep the points flowing their way I would imagineComment -
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.Originally posted by sicklerComment -
The transaction fee applies to both the sender and receiver. If you give me 100 points, we each get nicked a point.Originally posted by NrmlCurvSurfr
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.Comment -
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.Originally posted by NrmlCurvSurfrComment -
Oh I see. Thats not a bad Idea I suppose.Originally posted by sickler
Maybe SBR could give us a limited amount of free transfers and then anything over that would get taxed.Comment
