THAT DREADED LETTER FROM BETFAIR!

[betfair winner]

I just got this dreaded email (below) from Betfair!
I thought that by winning a few quid over a year or so would not cause me to be eligible, but clearly they think that i have won far too much money!
Effectively I now am paying  20% not 5% commission on winnings. Whilst I like to do what i can to help local charities and the poor and needy, having paid out £1700 in commission to Betfair last year, i do not consider these people a special case! How they can justify these charges after yet another outage today is beyond me.
Anyone with a bright idea as to how to minimise these absurd charges welcome!
 

We are writing to inform you that last week, for the first time, you would have been required to pay Premium Charges.  However, in line with our policy for customers that incur the charge for the first time, last week's Premium Charges have been waived. The charges should appear on your account statement as both a 'Debit' and a 'Credit' of exactly the same amount.

Please be aware that in future, if your betting continues to be as successful as it has been, you may be required to pay Premium Charges.

Full details of the charge can be found in the 'Betfair Charges' section of 'About Us'. Any questions that you may have in relation to the charge should be directed to premiumcharge@betfair.com .

The Betfair Management
 
 

 
  Please gamble responsibly. Visit www.gambleaware.co.uk .
Betfair [Malta] Ltd | Triq il-Kappillan Mifsud | St. Venera - SVR 1851 Registered in Malta under company number C-40083
BETFAIR® and the BETFAIR LOGO are registered trade marks of The Sporting Exchange Limited.
©The Sporting Exchange Limited. All rights reserved.

Privacy Policy

 

[mcbee]

hi
betdaq has no prem charge at the moment.
if you have made that amount, then it would pay you to have a custom bot made for betdaq.

well done (wish i had to pay prem charge, maybe one day)

mcbee

[nigelbleddfa1]

Congratulations ! Most of us dream of having to pay the Premium Charge. There is discussion of it on other trading forums which you may find of help. There is a software called Geek's Toy. It is quite unlike MFP so I hope nobody minds me mentioning it here. Take a look at the forum at geekstoy .com/forum

I am sure that the more sensible people there will be able to help you.Be sure to search for Premium Charge on that forum first.

[scummbags]

I would be very careful about 'tax evasion'. Betfair are very aware of this technique and if you start placing larger than normal bets or a different type of bet than normal they will view this as you trying to avoid 'paying them their money' and more than likely freeze your account. Take the hit then move on to Betdaq in my opinion.

[betfair winner]

Good plan Scummbags
Problem is Betdaq does not work with Market feeder and  liquidity is still a problem particularly in the horse racing mid price market where most of my activity is.
Looks like whatever one does there is a downside.....................

[1oser]

Congratulations and commiserations!

The only way to reduce premium charges is to lose more and that's very hard[for you by the looks of things]! The only other way is to have a strategy that more or less breaks even after paying commission.