Smarkets is going to 3% on profits and losses in 2020 for winning players

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Author Topic: Smarkets is going to 3% on profits and losses in 2020 for winning players  (Read 1467 times)
arbetour
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arbetour


Another nail in the coffin. For those who have made £25K in net profit over the previous 12 calendar months with them this will be applied. That's 6% commission before you have started! Not much room for manoeuvre.
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DPG
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3% on winning bets and 3% on losing bets if you exceed £25k net profit over the previous 12 calendar months. What kind of betting exchange would charge 3% on losing bets?

This is all because their in house market making operation are absolutely clueless. They reported £9m losses last year and they must still be losing money now. They will go bust in a few years time if they continue with Hanson for their liquidity.


If my P&L drops below the Select Tier threshold, can I have my tier reviewed?
If your net P&L over the previous 12 calendar months falls below £25,000 you can apply to have your commission rate reviewed and amended at Smarkets’ discretion


They can keep you on it if they don't want your business.

« Last Edit: December 24, 2019, 09:29:43 AM by DPG » Logged
dealer wins
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As bad as Matchbook lol  And with BF at 2% and BD 0% for most sports they are finished
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Never trust a goose!!!
balls of steele
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Smarkets is included in the Sportmarket Pro tool but the lay option is not there. I believe the new commission rate is only bad for those who lay bets.
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DPG
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To put it in to context Pinnacle are happy to take bets of £1,000,000 on some matches. These lot are having trouble if someone makes £25,000 in an entire year.
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ArbController
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This is the first I've heard of this, and quite stupid actually. SM already majorly behind exchanges like BF and MB.

This just doesn't make sense.
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