Betfair - Premium Charge

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Shawn2k
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Shawn2k

Betfair - Premium Charge
« on: May 14, 2019, 08:29:27 PM »

Hi,

Premium Charge - As I've understood Betfair's rules about this - This is most likely to happend to a very strong trader or extremely strong valuebettor - Or an "unlucky" arber (Who have won to much on the sharp side...). You need to do this if I've understood correct; Have paid less than 20% of your lifetime profit in “total charges”.

So theoretically if I'm +5% lifetime PURE VALUEBETTOR, I probably should not pay Premium Charge, am I right? In that case you most probably have paid more than 2% of the profits in charges.

...Please correct me if this is wrong - I'm not very experienced at Betfair, even though I've used it for some years (Used the other exchanges more).


Any thoughts appreciated,
Shawn

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dealer wins
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dealer wins

Re: Betfair - Premium Charge
« Reply #1 on: May 14, 2019, 10:14:00 PM »

Yes you would have paid way more than enough commission.  It would be extremely rare for an arber or value bettor to run up against premium charges, its mainly highly successful traders who tend to constantly green up and have nearly always winning markets with few or no losing ones.

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Re: Betfair - Premium Charge
« Reply #2 on: May 15, 2019, 02:07:01 AM »

  It would be extremely rare for an arber to run up against premium charges

with many finding 2.5% commissions not extremely rare, if you have 250 bets on roulette all on red or black
and for different stakes then possibitys to be in profit after 250 bets is quites high, with new betfairs account
with good rate your arber bets are same % as roulette wheel and very easy to be in profits after 250 bets and pay charge.
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Shawn2k
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Re: Betfair - Premium Charge
« Reply #3 on: May 15, 2019, 10:11:16 AM »

On the other side, Matchbook (And Smarkets)... they pretty much catch everyone with a certain volume, am I right?

Actually Betfair seems most fair at this point.
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DPG
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Re: Betfair - Premium Charge
« Reply #4 on: May 20, 2019, 09:50:52 AM »

On the other side, Matchbook (And Smarkets)... they pretty much catch everyone with a certain volume, am I right?

Actually Betfair seems most fair at this point.

That's because Matchbook and Smarkets aren't actually exchanges. They do anything and everything to protect their own market makers, (even though their market makers are clueless and just use bots to copy Betfair exchange).

Betfair is not the most fair, it's just the most not unfair at this moment in time. Having said that the liquidity and volumes matched on Betfair are at an all time low. They do well on IPL cricket but all the rest is pretty much dead.
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DPG
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Re: Betfair - Premium Charge
« Reply #5 on: May 20, 2019, 09:57:38 AM »


It really says something when Betfair do not advertise or promote their exchange because their main product is their sportsbook and yet they are still the best (of a bad bunch) in the exchange industry.

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Wolfie
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Re: Betfair - Premium Charge
« Reply #6 on: May 20, 2019, 12:22:49 PM »

Hi,

Premium Charge - As I've understood Betfair's rules about this - This is most likely to happend to a very strong trader or extremely strong valuebettor - Or an "unlucky" arber (Who have won to much on the sharp side...). You need to do this if I've understood correct; Have paid less than 20% of your lifetime profit in “total charges”.

So theoretically if I'm +5% lifetime PURE VALUEBETTOR, I probably should not pay Premium Charge, am I right? In that case you most probably have paid more than 2% of the profits in charges.

...Please correct me if this is wrong - I'm not very experienced at Betfair, even though I've used it for some years (Used the other exchanges more).


Any thoughts appreciated,
Shawn

It could happen only if you are in a rare winning streak. The more bets you have, the less your probability to pay. It shouldn't worry you long term.
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Shawn2k
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Re: Betfair - Premium Charge
« Reply #7 on: May 20, 2019, 12:46:11 PM »

Betfair is not the most fair, it's just the most not unfair at this moment in time.

I agree.
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miloshr5
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Re: Betfair - Premium Charge
« Reply #8 on: June 27, 2019, 01:10:09 PM »

Hi guys. I know this isnt the right topic to ask this question, but I couldnt find an appropriate one... So, any help/advice would be strongly appreciated. I bet professionally for couple of years now,betfair exchange generates most of my income... Since yesterday betfair has forbidden to play from my country (Serbia). My account isnt suspended but I cannot lay a bet from Serbia, so the first solution that came in to my mind is VPN, but I am really not sure should I use it, or there is some better way to make it possible to play. My biggest concern is if I get discovered by betfair security they will take all of my money, and its a quite big amount cause I need it in order to play with success (is that even possible if the account is on my name? ) Please, any advice would mean so much since this is my only income, and I support my family out of it. Thanks!
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DPG
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Re: Betfair - Premium Charge
« Reply #9 on: June 27, 2019, 06:02:15 PM »

Use a betfair white label. If they catch you using a VPN the greedy bastards will confiscate all your money.
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campeones
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Re: Betfair - Premium Charge
« Reply #10 on: June 27, 2019, 08:23:50 PM »

Read the forum mate and you ll will find what you want.
In your shoes, I would get an Orbit account from one of the supported agents.
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Shawn2k
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Re: Betfair - Premium Charge
« Reply #11 on: September 03, 2019, 01:16:06 PM »

For those of you unlucky enough to have reached Premium Charge - Is the first week free? I've seen it myself, and also read a couple of random places online that the first charge get reversed (you simply don't pay it). Will this amount be charged later, or is it actually free?

And.... Is it correct that you can divide your fee with 2 when we count commission paid - But both winning and losing bets count towards it? In example you pay 2% flat. Winning bets actually don't count as 2% fee in lifetime profit\charge, but 1%. And losing bets also 1%.

..This last part would actually hurt winning players even more, since they got more winnings... pretty greedy stuff  ::)

If anyone here has some experience it would be great to know a little about this  :)
« Last Edit: September 03, 2019, 01:19:49 PM by Shawn2k » Logged
pythonic
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Re: Betfair - Premium Charge
« Reply #12 on: September 04, 2019, 07:27:50 AM »

Yes, the first charge is free AFAIR.
There is also an initial allowance of 1k or 2k, so after becoming eligible they would only start to really charge you once this allowance is consumed.
The commission is calculated as (winnings + losses)/2 at a fixed rate of 3%. This should be good for you if your commission rate is below 3% and otherwise it is worse for you than the normal calculation.
If you do straight bets then your winnings and losses will approximately be of the same magnitude in the long run, so it doesnt matter really.
But if you green up a lot like many traders do than this method of calculation increases the PC significantly.
Hope that helps.
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Shawn2k
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Shawn2k

Re: Betfair - Premium Charge
« Reply #13 on: September 04, 2019, 08:21:02 AM »

Allowance is 1k. This makes you eligible if you get over 5k in winnings lifetime (1k = 20% of 5k) - which could happend for some arbers after just 250 bets. Just a good run (In this case it's bad) can get you there.

The big issue when you get there as an arber is that you simply can't use them anymore. You can't risk paying 20% of your winnings. Premium Charge was made to charge the winners more, but it also catch arbers and other "innocent" players. This is not just sad for the players affected, but also Betfair themselves, as they end up losing some of the players they actually want. Paradox.
« Last Edit: September 04, 2019, 08:28:36 AM by Shawn2k » Logged
pythonic
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Re: Betfair - Premium Charge
« Reply #14 on: September 04, 2019, 09:02:29 AM »

Agreed. 250 bets is also a small number really.
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