More Betfair Bullshit

[squallsquall]

...
We anticipate that the changes will reduce the number of customers affected by the charge and also the total amount of Premium Charges collected each week.
...

...
The £1,000 allowance against the charge, the 250 market threshold and the exclusion of any single win that constitutes more than 50% of gross profits will also apply to the lifetime of each account
...

Am I missing something or is this just completely ridiculous? The free allowance and the 250 market threshold just became utterly useless. Still they "expect to collect less Premium Charges each week". Yeah right.

[Dunder]

Am I missing something or is this just completely ridiculous? The free allowance and the 250 market threshold just became utterly useless. Still they "expect to collect less Premium Charges each week". Yeah right.

Betfair consulted a dozen or so of their biggest market makers before they made they changes to the PC structure. I understood from them that this statement is, in fact, corrrect. The "0.5%" of customers figure that they quote, however is way wide of the mark.

But yes, you are spot on about the 250 market and GPB 1000 allowance.

Incidentally, I also understood that the almost all of Betfair´s biggest customers advised BetFair that they would have been much happier with the alternative "tax" what was being looked at, which was a simlple percentage paid back to BF after GBP 10 or so million of matched bets per month. This would have been so much easier for Betfair to sell, than the mess that is the current PC.

[Karayilan9]

Everyone will start moving to other exchanges, Betfair needs more competition its all getting to their heads.

[Dunder]

Everyone will start moving to other exchanges, Betfair needs more competition its all getting to their heads.

It would be nice to think that, but it won´t happen. For a rival exchange to take off, it would have to have a demonstrably better product, not just a lower fee/commission structure.

Betdaq has been around for very nearly as long as Betfair, WBX is like a ghost town, Betsson and MyBet likewise.

Right now Betfair matches billions in bets every day, they are utterly dominant. The problem is that they know that.

[Pareto]

Im happy with the changes.

I had stopped playing at Betfair in May because I, after an amazing run last winter, were going to pay premium charge.

But since the removal of the 250 weeks period I can play again.

[trumpdown]

Too bad you all don't give Matchbook a try. US dollar is strong!

[Karayilan9]

It would be nice to think that, but it won´t happen. For a rival exchange to take off, it would have to have a demonstrably better product, not just a lower fee/commission structure.

Betdaq has been around for very nearly as long as Betfair, WBX is like a ghost town, Betsson and MyBet likewise.

Right now Betfair matches billions in bets every day, they are utterly dominant. The problem is that they know that.

Yeah its just a dream
Its a shame what Betfair is doing, they are victimising people for using their product for what made it unique, the buying/laying. They should treat their successful customers better.