Betfair - Increasing rates

Originally Posted by Daverrd

Hareeba, have enjoyed reading your posts in this thread. Just wanted to ask if you have tried the WBX exchange?

I joined the other day and found an old article that they match commission discounts from other exchanges (http://www.prlog.org/10115420-wbx-to...sion-rate.html). I emailed them to find out if it’s still offered and they said yes.

So I managed to get my discount rate carried over from Betfair which I thought was decent, and managed to get my bets matched (mostly betting on NBA and Premier League). Thought it might be useful for you or anyone else in here with good discount rates at Betfair/Betdaq.

No. Never really looked closely into them. Not sure they can really offer me anything more than I can get at Betfair and Matchbook. And they only offer EUR and GBP I think?

How do they compare with Matchbook for NBA and EPL? I'd think with zero comm. Matchbook would be a better option currently?

Originally Posted by Hareeba!

No. Never really looked closely into them. Not sure they can really offer me anything more than I can get at Betfair and Matchbook. And they only offer EUR and GBP I think?

How do they compare with Matchbook for NBA and EPL? I'd think with zero comm. Matchbook would be a better option currently?

Yeah at the moment no AUD, but I read AUD will be added soon (http://www.aussportsbetting.com/bett...r-reviews/wbx/).

So far I've got some decent bets down on both sports at WBX with no issues. The problem with Matchbook is that I read that the commission they charge is on both wins and losses. Still a lot better than Betfair commission model though.

Originally Posted by YPS

At the moment i have 106.000 betfair points and i have to pay a commission of 3,64% ! (instead of 2,3)

Not enough they increased the the base commission rate to 6,5%, they also reduced the discount rate to this scheme:

0 - 999 0%
1,000 - 3,999 1%
4,000 - 6,999 2%
7,000 - 10,999 3%
11,000 - 14,999 4%
15,000 - 18,999 5%
19,000 - 20,999 6%
21,000 - 22,999 8%
23,000 - 25,999 10%
26,000 - 28,999 12%
29,000 - 31,999 14%
32,000 - 35,999 16%
36,000 - 39,999 20%
40,000 - 43,999 22%
44,000 - 48,999 24%
49,000 - 54,999 26%
55,000 - 60,999 30%
61,000 - 66,999 32%
67,000 - 72,999 34%
73,000 - 79,999 36%
80,000 - 87,999 40%
88,000 - 95,999 42%
96,000 - 107,999 44%
108,000 - 125,999 46%
126,000- 50%

That means UK customers needs lousy 23.000 betfair points for a 3,6% commission,
i need a minimum of 96.000 bf points for a 3,64% commission.

That is completely unfair. And greedy

And no, i´m not from Russia, Ukraine or Serbia, i´m from Austria

That's horrendous and seems on the surface to be totally unfair.

But is there some justification for Betfair's position in other countries?

For example, in Australia, Betfair did increase the base commission rate for racing from 5% to 6.5% when they were slugged with the 1.5% racefields turnover levy. That was their justification for the increase in their commission on racing.

Are there extra taxes they have to pay in the countries where they have increased commission rates which might justify their action?

I don't know. Just asking.

Why wouldn't you just bet with ladbrokes, there odds are good and you will get the bet amount you want on anything. At betfair you may only get partially accepted, in fact you will encounter that often. Plus the tax on your winnings.

Originally Posted by corporatecoward

Why wouldn't you just bet with ladbrokes, there odds are good and you will get the bet amount you want on anything. At betfair you may only get partially accepted, in fact you will encounter that often. Plus the tax on your winnings.

The end of the world cometh the day I can get more accepted at Ladbrokes than at Betfair.

Originally Posted by corporatecoward

Why wouldn't you just bet with ladbrokes, there odds are good and you will get the bet amount you want on anything. At betfair you may only get partially accepted, in fact you will encounter that often. Plus the tax on your winnings.

Problem with Ladbrokes is that most UK bettors have either had their sportsbook account closed, or limited. Is their exchange completely separate from their sportsbook?

No one i know is prepared to take the risk and start winning there. I did ask their customer service department and they said it should be ok. Should is not good enough for me

Originally Posted by superhans

Problem with Ladbrokes is that most UK bettors have either had their sportsbook account closed, or limited. Is their exchange completely separate from their sportsbook?

No one i know is prepared to take the risk and start winning there. I did ask their customer service department and they said it should be ok. Should is not good enough for me

ladbrokes exchange unavailable to australian residents

Ladbrokes Exchange is not even on the radar

Betdaq not even on the radar

They are not ready yet to compete

Originally Posted by jjgold

Ladbrokes Exchange is not even on the radar

Betdaq not even on the radar

They are not ready yet to compete

betdaq = ladbrokes exchange

on wikipedia it says "BETDAQ is the second largest betting exchange operator with 7% market share"

probably not true anymore

Originally Posted by Hareeba!

None in the traditional handicapping sense.
Only into profitable angles to use race ratings and finding good people and services to follow.

so basically all your bets are made by tailing others?

Originally Posted by Hareeba!

That's horrendous and seems on the surface to be totally unfair.

But is there some justification for Betfair's position in other countries?

For example, in Australia, Betfair did increase the base commission rate for racing from 5% to 6.5% when they were slugged with the 1.5% racefields turnover levy. That was their justification for the increase in their commission on racing.

Are there extra taxes they have to pay in the countries where they have increased commission rates which might justify their action?

I don't know. Just asking.

Well, I'm glad to hear you agree it is horrendous. No, they have offered no justification for the increase. No, nothing, tax wise, etc., has happened in the countries affected (essentially the rest of the world outside, Ireland, UK and Australia). They are doing it because they believe they can. It is that simple. Although you are presently un-affected in Australia, I wouldn't be too confident that that will always be the case. If this move raises Betfair's profits and no meaningful shift in liquidity to the competition ensues, I think it's fairly safe to assume you will be seeing your increase fairly soon.

Originally Posted by TFC

Well, I'm glad to hear you agree it is horrendous. No, they have offered no justification for the increase. No, nothing, tax wise, etc., has happened in the countries affected (essentially the rest of the world outside, Ireland, UK and Australia). They are doing it because they believe they can. It is that simple. Although you are presently un-affected in Australia, I wouldn't be too confident that that will always be the case. If this move raises Betfair's profits and no meaningful shift in liquidity to the competition ensues, I think it's fairly safe to assume you will be seeing your increase fairly soon.

I see no way it can increase profits. Turnover must fall as players desert them if they can't see a way to make money any more using Betfair.

Originally Posted by allin1

so basically all your bets are made by tailing others?

Mostly but not entirely.

Originally Posted by Hareeba!

Mostly but not entirely.

will the PC ever ruin your betting with betfair?

Originally Posted by allin1

will the PC ever ruin your betting with betfair?

I hope not. I have a strategy in place which I believe will continue to shield me from the PC.

However, as mentioned in another thread recently, I know of one punter who is happy to be subjected to the PC!

I find it near impossible to follow his reasoning and figures but I've known him for 30+ years, he's an actuary and very smart with numbers. He claims being subject to the PC allows him to make more profits out of Betfair than beforehand!