Incoming AP win will take me from PC1 band to PC2 on Betfair, what will I be charged?

Justin7 · 04-21-12, 10:11 AM

Originally posted by Spanner

Lifetime Net Profit stands at £235,000.
Ante Post win on Top Goalscorer market in the Premiership stands at £20,000.

If your Lifetime Net Profit is above £250,000 you are charged PC2 (Premium Charge Rate 2 which is 40%). Because my win will put me in that bracket I am wondering if for the first week you enter that bracket do you pay out at the new rate? On a £20,000 win, the difference between PC1 and PC2 could be around £4,000 so if they waive of the extra charge it would make sense to go on holiday for a bit.

Many thanks for your help.

What do the terms say? Perhaps they will charge PC2 on the amount above 250k?

whatagoal1 · 04-22-12, 03:32 AM

if you have won more than 250,000 then you are liable to 40% PC
the only way you will not pay is if they have already collected 40%(i.e 100k)commision in the past.

so you winnings could go as high as high is, there is no premium charge if your commision is over 40%

one bit of good news for you is the fact that they do not charge the first week you become liable to the PC

HeeeHAWWWW · 04-22-12, 09:09 AM

Have to say, PC2 seems so punitive I can't imagine continuing at betfair after reaching it. PC1 was enough to drive me away, but I'm not a trader so had more choice.

Art Vandeleigh · 04-22-12, 01:19 PM

You have to have bet on more than 1000 different markets to be slapped with PC2.

Btw, if any individual win accounted for more than 50% of your total profit, it will be EXCLUDED from PC2 calculations

Are you sure you fit all the criteria?

You can double check here (scroll to section 7)

http://www.betfair.com/aboutUs/Betfair.Charges/