Another stab in the back from Betfair

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  • citlec
    SBR Wise Guy
    • 03-08-08
    • 557

    #1
    Another stab in the back from Betfair
    We will shortly be making changes to our terms and conditions. These changes will come into effect on the 22nd of September 2008. From this date we will be introducing a new charging mechanism (Premium Charge) that will affect a small number of our most successful customers.

    We are writing to inform you that had the new charge been in place over the last 6 months then you would, at some point, have been required to pay Premium Charges. If your betting in the future continues to be as successful as it has been in the past then you could be required to pay Premium Charges in line with others who, like you, fall into the top 0.5% of our customers.

    Please note that whilst the changes to our terms and conditions will come into effect on the 22nd of September 2008, the first charges will not be collected until the following week (week commencing 29th September 2008).

    The changes to our terms and conditions and full details of the new charge can be found here. Any questions that you may have in relation to the new charge should be directed to premiumcharge@betfair.com.

    The Betfair Management

    Rumor has it its 20% they are charging.

    They claim that im in the top 0.5% of successful people on betfair in the last 6 months but yet my P+L is -4,600 in the last 3 months so how can they claim im successful?
  • Peep
    SBR MVP
    • 06-23-08
    • 2295

    #2
    Why would they bother doing that?

    Just a money grab? I can't see why they would care who wins or loses, any more than a poker site should care who wins or loses.
    Comment
    • citlec
      SBR Wise Guy
      • 03-08-08
      • 557

      #3
      You could call it greed. They changed there commission structure about 12 months ago which meant people was paying more commission in the long run and now they do this.
      Comment
      • bigboydan
        SBR Aristocracy
        • 08-10-05
        • 55420

        #4
        I do recall the revised commission about a year ago sir. People were really complaining about it on the forum too I might add. I guess they feel they can get away with it or else they wouldn't try it again this year.
        Comment
        • APK
          SBR High Roller
          • 11-23-06
          • 188

          #5
          Why charge 20% to their best customers?
          Like they care who wins, they'll get their commission anyway.

          I read it earlier today and can't get my head around it.
          Comment
          • kisado
            SBR Wise Guy
            • 09-09-08
            • 519

            #6
            Simple greed. One of the deadly sins. They've been touting themselves as eliminating the middleman so they can offer 'true market-value' odds. What bullshit. They have turned into the middleman they professed to be eliminating and are now pilfering "Premium Charges". This sickens me.
            Comment
            • APK
              SBR High Roller
              • 11-23-06
              • 188

              #7
              Betfair customers that open an account at betdaq get on 2% commission till the end of the year if they ask by mail.
              Comment
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