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August 17, 2009

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Comments

galejo

But surely they will have to bring in the "any premium charge prior to introduction will have assumed to have been paid" rule, won't they??

Although admittedly, hard facts seem tough to get hold of so far!

Matt

Lets hope so Jon, though things are very sketchy. The whole thing makes my head hurt, it really does.

Mind Games

Aren't PC charges calculated weekly? You would just pay the PC on your weeks' profit. People who have been losing for 5 years and winning for a year won't pay the PC until they recover their losses? Maybe I'm wrong, that's what I understood from their blurb.

Ron Dell

I agree with galejo. When they brought the current scheme if you'd paid >20% you started on your actual rate, if you'd paid <20% you started on 20%. Why would you assume they'd change this when they've never given any indication that they would?

You often mention the people that you know high up in Betfair. Shouldn't you ask them first before posting something that's going to worry punters and is in all likelihood a big steaming pile of rubbish? My money is on you (and everyone else) being in a £0 premium charge hole when they change it.

When I read your blog I can't help thinking sometimes what a whiny ungrateful person you come across as. If your £130k number is true then you must have taken at least £1 million out of them over the years. So you're getting ten times what the average person in Britain earns, tax free, out of them yet you never post anything about Betfair that isn't negative. If Bert Black reads blogs like this he must rue the day his site created the monster of the exchange pro-punter, someone who is happy to collect the golden eggs but who continually talks longingly about the day some time in the future when the golden goose is dead.

Matt

You know what, I did over-react when I wrote this, the situation is not quite as bad as I paint, though I stand by comments I have made that what I did in the past and the fortune (or not) that I experienced then, should not affect where I stand on PC in the future.

You are quite right, if I continue to bet at over 20% commission in the future, there should be no problem. I just have to track where I stand each week and try to make sure I offset things in weeks where I'm getting 'lucky'. Unfortunately, 'lucky' runs are not something the PC is supposed to catch if you take a reasonable amount of risk in their markets (and I do) - yet I find myself at risk of paying it should fortune decide that my edge is going to be cashed in next week. Like it or not, this is a failing in the way the PC is put together.

You're right about me coming across as a whiny person, I do tend to post when I'm having a go at Betfair. But that is because I know they read this website and I do take advantage. I'll make a positive post about Betfair soon, to offset my negativity, there's plenty positive to say. And I'll try to make sure I don't cross the line from constructive criticism to boring negativity, I'm fully aware it's not the most entertaining read sometimes. Without Betfair I wouldn't be doing anything I am right now.

Keith - UK Racing

I get round this problem by managing my betting across 7 accounts, although the maths get even more complicated as you are then balancing the commission discount with trying to avoid paying Betfair's premium charges. On top of that I also have 3 accounts with Betdaq who these days have a lot better liquidity, probably from the folk who have jumped the Betfair ship.

herby

But its so easy way out of this Betfair mess for you.Dont you have a girl friend or friend who has no Betfair account? Then its time for you to open one for her/him.Easy,isnt it?

Matt

Herby, if it were that easy I would have done so. Sadly it isn't, Betfair have people that work to track accounts that take measures such as those to avoid the premium charge. They link the new accounts to your old ones and charge you the amount you would have paid.

I did suggest opening an account in my wife's name (then girlfriend) in a Betfair chat session, they were quick to say they would link them.

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