Betfair charges and other exchanges

[Alliance01]

Been using betfair til now but doing well and nearing the dreaded premium charge. Really not keen on getting smashed for such high charges. Is betdaq a reliable alternative? What do all you other sports traders use because I can't be alone with having this problem!?

 

[Lord Flasheart]

Been using betfair til now but doing well and nearing the dreaded premium charge. Really not keen on getting smashed for such high charges. Is betdaq a reliable alternative? What do all you other sports traders use because I can't be alone with having this problem!?

open up some accounts in friends names,etc

 

[Alliance01]

open up some accounts in friends names,etc

Trying not to flout the rules if possible! Heard horror stories of getting blocked and all that.

I have accounts at all the bookies but it is the flexibility of the exchanges I need.

 

[Lord Flasheart]

Trying not to flout the rules if possible! Heard horror stories of getting blocked and all that.

I have accounts at all the bookies but it is the flexibility of the exchanges I need.

can you give me an idea of what your doing,I was a bookie for 10 years. Dont give any secrets away of course. I sure a network of accounts could soon be put in place,what have you to lose if they are going to hit you with 50%. Is that right,50% of everything on a winning week and tuff when you lose.Do you have to have won 259k to be in that category,thanks

 

[Alliance01]

You get hit with 'higher' charges aka premium charges, if your commission paid is less than 20pc of gross profits, your ac is actually in profit and you had bet in more than 250 markets. Not exactly hard. The effect is to make 20pc on gross profit ie not net of any losses. That's a pretty tasty transaction cost. The bigger issue comes in that this steps up to 40%, 50% and an eye watering 60% under certain cases ie 250k net profits, bet in more than 1000 markets.

For me, I do mainly football, in play. Loads of games all over the world!!

 

[Lord Flasheart]

You get hit with 'higher' charges aka premium charges, if your commission paid is less than 20pc of gross profits, your ac is actually in profit and you had bet in more than 250 markets. Not exactly hard. The effect is to make 20pc on gross profit ie not net of any losses. That's a pretty tasty transaction cost. The bigger issue comes in that this steps up to 40%, 50% and an eye watering 60% under certain cases ie 250k net profits, bet in more than 1000 markets.

For me, I do mainly football, in play. Loads of games all over the world!!

so if i bet in say 16 horses races a day,is that 16 markets or is each horse a markets,thanks

 

[Alliance01]

bit more to it than that, it isnt each bet but it isnt each event either.I

in each event i.e a football match, you have a number of markets i.e. match odds, first goal-scorer, correct score etc etc. so if you restrict your bets in one event to one market within that event then you keep your count low. if however you are watching just one game and have a nibble on match odds, correct score, full time/half time, first goal scorer, number of corners then you are up to 5 already.

you can see how you could get to 250 and 1000 'bets' quite quickly!

 

[Lord Flasheart]

bit more to it than that, it isnt each bet but it isnt each event either.I

in each event i.e a football match, you have a number of markets i.e. match odds, first goal-scorer, correct score etc etc. so if you restrict your bets in one event to one market within that event then you keep your count low. if however you are watching just one game and have a nibble on match odds, correct score, full time/half time, first goal scorer, number of corners then you are up to 5 already.

you can see how you could get to 250 and 1000 'bets' quite quickly!

what timescale for the 250 markets,

 

[rsh01]

Betdaq is getting a lot more liquid for this reason, loads of (pre race) horse racing traders have switched over to them for a decent % of races.

I used betangel platform, their forum is pretty busy with this sort of chat. The owner writes a blog, often moaning about training ppl up who could then make more money than him (due to lower commissions), 60% is crazy fee, but he is up his own ass as well.

But why not just join and give 'em a go. I actually quite liked medium liquidity when trading tennis matches. There's stupid amounts (100s k) on BF bid/offer for match results on faves used to drive me a crazy, someones at the game on a phone with a few mill to flip too and fro.

 

[Alliance01]

what timescale for the 250 markets,

I got to 250 in a matter of weeks but, from memory, this extra charging I think kicks in after 60wks and is done in a rolling basis thereafter.

 

[Alliance01]

Betdaq is getting a lot more liquid for this reason, loads of (pre race) horse racing traders have switched over to them for a decent % of races.

I used betangel platform, their forum is pretty busy with this sort of chat. The owner writes a blog, often moaning about training ppl up who could then make more money than him (due to lower commissions), 60% is crazy fee, but he is up his own ass as well.

But why not just join and give 'em a go. I actually quite liked medium liquidity when trading tennis matches. There's stupid amounts (100s k) on BF bid/offer for match results on faves used to drive me a crazy, someones at the game on a phone with a few mill to flip too and fro.

BF is one of those platforms I think that once you are settled in it, you don't really consider moving from. It means you end up getting stung though. Betdaq may be the way forward though.