From 18th July 2011 Betfair will be making some changes to the Premium Charge. The current Premium Charge mechanism will remain in place but higher rates may now apply to a small number of customers (less than 0.1% of annual active customers).Full details of the changes can now be found on the Betfair Charges page under the About Us section of the website. However, the changes can be summarised as follows:• Customers will only be subject to Premium Charges at higher rates if they satisfy all of the following conditions:o Lifetime net profits* exceed £250,000o Lifetime commission generated less than 40% of lifetime gross profitso Bet in more than 1,000 markets• Customers that satisfy all of the above conditions will be asked to pay Premium Charges at rates between 40% and 60% on all future exchange activity.All customers that will be affected by these changes have already been contacted.For more information, please visit our FAQ section here promotions.betfair.com/pcharge/We hope the information provided will outline why we are making these changes and how they will be implemented in practice. If you have any further questions, please send them to [email protected].*by net profits we mean the amounts won less the amounts lost, on all exchange markets, less all commission paid and Premium Charges debited.
Topic: Changes to the BetFair Premium Charge (Read 7396 times)