Betfair - Increasing rates

[davidchong]

I cant believe after sucessful months i got this email.

Dear David, At Betfair you always get the best possible products and services. To ensure you continue to get a premium experience, we are increasing the base commission rate on Betfair Exchange markets in your country to 6.5% from January 30th. You can of course continue to earn significant discounts of up to 60% on this commission rate through the Betfair points system. A full explanation of how your commission is calculated can be found atBetfair Learning. This rate increase does not apply to any promotional markets with a fixed commission rate. Thank you for your continued business and good luck with your future betting at Betfair. Yours Sincerely, Betfair Customer Service <small>Please note that the “Rules” tab which is found on each market on the “Classic” or “Old” version of Betfair is incorrectly displaying the Market Base Rate as 5%. Please ignore the information about the Market Base Rate on the “Classic” or “Old” version of Betfair. The correct Market Base Rate for you is 6.5%.</small>

[simply]

Betfair already increased commission for most countries before 5-6 months. Some countries have 7% commission already.

[HeeeHAWWWW]

Getting greedier every year.

[sbavi]

I got this too.

Seems high time i completely shift over to Pinnacle and Matchbook.

[Winner_13]

Why dont u play @ pinnacle?

[Hareeba!]

"To ensure you continue to get a premium experience"

eh? pardon? how does that work?

I'd simply like to hear some justification for this hike in commission.

So far fortunately it doesn't apply in Australia except on racing which was supposedly to offset the unfairly applied turnover tax but I'm not sure that is justifiable in all States any more.

[HeeeHAWWWW]

I'd simply like to hear some justification for this hike in commission.

"We basically have a monopoly, so this makes us more money".

[Hareeba!]

"We basically have a monopoly, so this makes us more money".

I think it will actually do the opposite.

Punters will be moving in droves to Matchbook, Pinnacle and SBO.

[Celtics08]

I think it will actually do the opposite.

Punters will be moving in droves to Matchbook, Pinnacle and SBO.

Monopoly for betfair traders you can't find another exchange with this liquidity.

[Hareeba!]

Monopoly for betfair traders you can't find another exchange with this liquidity.

Yes, traders certainly have fewer options.
I tend to overlook them as in Australia we can't trade online in play so I don't get involved in that.

[pellumb341]

Monopoly for betfair traders you can't find another exchange with this liquidity.

what if all traders move to betdaq ?? Betdaq will have liquidity and betfair won't.It's not that hard , just all traders move to betdaq.

[Spacefrog]

How does betdaq commission works?
Do they charge by bet or by market?
What is the commission rate?

I´ve been looking in betdaq TC´s and i cant find an answer.

[HeeeHAWWWW]

I think it will actually do the opposite.
Punters will be moving in droves to Matchbook, Pinnacle and SBO.

I certainly hope so.

Didn't happen with the premium charge though, or the super-PC.

[kkkkk]

Nobody is moving to Betdaq or Ladbrokes or wherever, Betfair has gigantic liquidity and opponents dont even offer 1/3 of their markets becose of idiotic management. they want to concentrate on fewer markets with top liquidity but they dont realise that bettors want all markets and then will move. on other hand those competitors dont want to invest in rest markets, thats it.
and betdaq has increased commisions some months ago from 3 to 5% and their commision table is even worser then betfair.
end of story.

[jjgold]

Betdaq has no volume and looks like it never will

Pinnacle just as good as Betfair now as is Matchbook both ladder books jumping for joy

[TFC]

Lousy crooks. Just got my notice of the increase today.

To everyone suggesting we use Pinnacle, most of us already do for straight betting -- but, unfortunately, you can't use it for trading.

Betdaq is the only real alternative for traders. However, they don't have near the liquidity (yet!). See this comparison from the Australian Open last week, for example:
'

However, with this increase in many countries, that may change. I really hope it does. I hate Betfair and would dearly love to close my account there. Betfair's monopoly needs to be broken or these increases (along with their ridiculous "premium charge" on successful bettors) will only continue. I encourage all punters interested in trading to move at least a bit of their wallet over to Betdaq. With Ladbrokes new backing it will slowly begin to grow -- with our help. I think Betfair has pushed its luck too far this time.

Just to be clear: if you don't do live trading there is absolutely no reason whatsoever to open a Betfair account now. It's just not competitive.

[YPS]

. I hate Betfair and would dearly love to close my account there. Betfair's monopoly needs to be broken or these increases (along with their ridiculous "premium charge" on successful bettors) will only continue. I encourage all punters interested in trading to move at least a bit of their wallet over to Betdaq. With Ladbrokes new backing it will slowly begin to grow -- with our help. I think Betfair has pushed its luck too far this time.
.

I also hate them and i know a lot of their customers hate them.

For me, i´m finished with them.
It doesn´t make sense for me to pay them about 4000-5000 Euros in commission every month
and in the end of the month, my income was Zero.
They are greedy assholes

[Hareeba!]

Just to be clear: if you don't do live trading there is absolutely no reason whatsoever to open a Betfair account now. It's just not competitive.

I don't do live trading. It's not legal online in Australia.

But there is no way I'd leave Betfair and I'd strongly encourage anyone who bets on racing to open an account there. They are by far and away the best place for betting on racing.

And for sports no other establishment offers as many markets. For some sports I bet on Pinnacle's and SBO's limits are pretty low. Betdaq? Australians can't bet there!

Yes the increase in commission in some countries and the premium charge crap is a concern but fortunately doesn't directly affect me. I just wish Betfair would get back to concentrating on what they set out to be in the beginning - and achieved it remarkably well.

[allin1]

out of the top betting places out there, betfair seems to be the most hated one, but they have the monopoly when it comes to trading.

[Spacefrog]

I encourage all punters interested in trading to move at least a bit of their wallet over to Betdaq. With Ladbrokes new backing it will slowly begin to grow -- with our help. I think Betfair has pushed its luck too far this time.

Just to be clear: if you don't do live trading there is absolutely no reason whatsoever to open a Betfair account now. It's just not competitive.

How does betdaq commission works?
Do they charge by bet or by market?
What is the commission rate?

I´ve been looking in betdaq TC´s and i cant find an answer.

[TFC]

I don't do live trading. It's not legal online in Australia.

But there is no way I'd leave Betfair and I'd strongly encourage anyone who bets on racing to open an account there. They are by far and away the best place for betting on racing.

And for sports no other establishment offers as many markets. For some sports I bet on Pinnacle's and SBO's limits are pretty low. Betdaq? Australians can't bet there!

Yes the increase in commission in some countries and the premium charge crap is a concern but fortunately doesn't directly affect me. I just wish Betfair would get back to concentrating on what they set out to be in the beginning - and achieved it remarkably well.

After Betfair's 30% hike in commission, I doubt they can be competitive -- even in the horse market. If you are outside Australia Betdaq is now a better option for horse racing. However, even if you are in Australia I'd now question Betfair's mythic "Best prices" . This is an example from another forum but it bears with my own quick examination and calculating of prices today:

First race at Lingfield this afternoon, January 25th, 2014. Prices taken at 11:42GMT


Betfair with 6.5% commission


3.29075
4.927
5.114
9.8825
8.667
16.4275
16.895
28.115


Top bookie prices


3.25
5
5.5
9
9.5
15
21
29

And an examination of the football 1X2 markets show things are even worse. They've really shot themselves in the foot this time. When casual punters and even professional arbiters (where a lot of their liquidity apparently originates) realize the price they now have to pay to play they will begin to leave in droves. At least I hope they do. Betfair is gambling that punters remain docile and swallow or not really notice a 30% increase in their fees.

Prices (11.19am GMT) from Odds Portal


Best with bookies


Bournmouth 11.92
Draw 6.02
Liverpool 1.33


Top recreational online bookie


Bournmouth 11.0
Draw 6.0
Liverpool 1.30




On Betfair with zero commission


Bournmouth 12.0
Draw 6.2
Liverpool 1.31


On Betfair with 6.5% commission


Bournmouth 11.285
Draw 5.86
Liverpool 1.28985

So long Betfair, it was nice while it lasted.

[TFC]

How does betdaq commission works?
Do they charge by bet or by market?
What is the commission rate?

I´ve been looking in betdaq TC´s and i cant find an answer.

Betdaq is exactly like Betfair used to be (search under Help on the upper right of welcome page). Like Betfair, they charge by market and they have tiered commission rates starting at 5% going down to 2% (depending on how much you bet in a week). They currently have a promotion for 3% base Commission rate for newcomers for the first 6 months (plus a generous €100/£100/$100 Deposit bonus).

[Brooks]

ill try betdaq. on wednesday morning i woke up and had 810 dollars removed from my account for premium charge. i almost threw up and my rates go up to 6.5 percent. i tried so hard to keep my commission discount at least 20% so id pay 4% commission and it was all for naught. what a waste. i requested my entire balance and will move on

[caveira]

Bye bye Betunfair!

[YPS]

ill try betdaq. on wednesday morning i woke up and had 810 dollars removed from my account for premium charge. i almost threw up and my rates go up to 6.5 percent. i tried so hard to keep my commission discount at least 20% so id pay 4% commission and it was all for naught. what a waste. i requested my entire balance and will move on

They removed it without any prior notice?

That´s horrible and would be near theft imo

[Foxx]

I certainly hope so.

Didn't happen with the premium charge though, or the super-PC.

Yes the increase in commission in some countries and the premium charge crap is a concern but fortunately doesn't directly affect me. I just wish Betfair would get back to concentrating on what they set out to be in the beginning - and achieved it remarkably well.

Hopefully someone will take them over and get back to grass roots. Almost happen last year but the bid got rejected.

Aparently Betfair USA may be live for the upcoming Monmouth meet in New Jersey. You will have to be a NJ resident physically in NJ though.

[Hareeba!]

After Betfair's 30% hike in commission, I doubt they can be competitive -- even in the horse market. If you are outside Australia Betdaq is now a better option for horse racing. However, even if you are in Australia I'd now question Betfair's mythic "Best prices" . This is an example from another forum but it bears with my own quick examination and calculating of prices today:

First race at Lingfield this afternoon, January 25th, 2014. Prices taken at 11:42GMT


Betfair with 6.5% commission


3.29075
4.927
5.114
9.8825
8.667
16.4275
16.895
28.115


Top bookie prices


3.25
5
5.5
9
9.5
15
21
29

And an examination of the football 1X2 markets show things are even worse. They've really shot themselves in the foot this time. When casual punters and even professional arbiters (where a lot of their liquidity apparently originates) realize the price they now have to pay to play they will begin to leave in droves. At least I hope they do. Betfair is gambling that punters remain docile and swallow or not really notice a 30% increase in their fees.

Prices (11.19am GMT) from Odds Portal


Best with bookies


Bournmouth 11.92
Draw 6.02
Liverpool 1.33


Top recreational online bookie


Bournmouth 11.0
Draw 6.0
Liverpool 1.30




On Betfair with zero commission


Bournmouth 12.0
Draw 6.2
Liverpool 1.31


On Betfair with 6.5% commission


Bournmouth 11.285
Draw 5.86
Liverpool 1.28985

So long Betfair, it was nice while it lasted.

All very well to compare with bookie prices but none of the bastards will let me bet with them on UK racing and the same with most on Aus racing. Betfair is essential to me. There are no real alternatives.

[tradeout]

Market Base Rate structure will be as follows:

MBR 5%
United Kingdom
Ireland
Italy
Gibraltar
Malta
Denmark

MBR 7%
Albania
Armenia
Croatia
Monaco
Serbia & Montenegro
Slovakia

MBR 6.5%
All other countries

[Hareeba!]

Market Base Rate structure will be as follows:

MBR 5%
United Kingdom
Ireland
Italy
Gibraltar
Malta
Denmark

MBR 7%
Albania
Armenia
Croatia
Monaco
Serbia & Montenegro
Slovakia

MBR 6.5%
All other countries

Where did you get that from?
Last I heard Australia would remain at 5%

[kkkkk]

After Betfair's 30% hike in commission, I doubt they can be competitive -- even in the horse market.

Nobody uses betfair horse markets for pregame betting, 95% is just for trading. And horse trading is most worth much better then tennis or any other sport. there are no other markets with such big movements pregame, not to mention inplay.

[Winner_13]

How come people do not use pinnacle?

Does some1 have an example where its actually better to use betfair and pay the 5-7% commission?
Assuming same lines

[Hareeba!]

How come people do not use pinnacle?

Does some1 have an example where its actually better to use betfair and pay the 5-7% commission?
Assuming same lines

What do you mean? Of course if they are both quoting the same line and odds Pinnacle comes out on top but that's not always the way it is.
Any serious punter who can would use both Pinnacle and Betfair, amongst others.
I get a bit tired of people always referring to Betfair's 5% commission. Most serious players aren't paying that.
I always factor in Betfair's commission when deciding whether to bet there or at Pinnacle or somewhere else.
Betfair net of commission is still better than Pinnacle enough times to make it worthwhile.
On top of that there is the benefit of using an exchange where you can ask for a price and hopefully get matched later if the odds you want aren't there at the time.
Then of course there are the hundreds of markets and options which Pinnacle doesn't offer.

[nicelemons]

I've heard betfair duplicates bets and steals money

[nicelemons]

Does betfair still owe that player millions?

[Sawyer]

Won't be surprised if they make it %8 next year, lol.