Betfair commision question

[SpudMan]

Hi guys, i got a quick question about betfair commision charges.

does the standard rate of commision (5%) decrease when u put money in CERTAIN markets only.

for example, i was actively betting on wimbledon and the comminsion rate had lower to 4.52.

but when i betted on the horse racing market, my winnings were commissioned with the standard 5%.

Is it that the more money u put in a particular market, u only get commision rate decreased for that market only? and not for all markets i.e. overall?

Thanks

[ScottyXS]

General betfair commission is 5% but that is rounded.
So could be the nearest number to 5% you could get on your winnings would be 4.5%
Some markets do have slightly different commission rates (at least they did) but all mentioned on the Rules tab when you select a market

[jbrs]

For me, the commision % was the same for all kinds of sports
jbrs

[Cassius Marcellus]

What's commission?

You only pay it if you win

[arcadia00]

Originally Posted by Cassius Marcellus

You only pay it if you win

Which is itself, entirely unfair.

[banmark]

I think we can all agree on that, but how they are doing it is the question.
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[froment]

Given that BetFair is not classic bookmaker, commission is the way they make money - you pay 5% of your net winnings; i.e., if you have winning on the market, you pay 5% of your profit only, not on entire payout; if you have loss, you don't pay commission.

Commission is 5%, unless otherwise stated in market info, for each market individually; but I don't remember I have ever seen something else than 5%, at least for football. But, depending on your winnings, you can reach certain levels of discount - in relation with your winnings, you collect points, and at the certain level of points, you have a discount.

Everything nicely explained here: http://help.betfair.com/contents/ite.../index.en.html

Don't forget "weekly decay" of points - each week, BetFair decreases your points for 15%, which means you must permanently earn money to keep your level of discount.

Well, there is a premium charge, too, additional charge which applies to those who have huge winnings, but me and my friends are far away from that zone, huh, so I don't know how premium charge works...

[froment]

Originally Posted by arcadia00

Which is itself, entirely unfair.

Hm, I wouldn't agree with you; as I said, BetFair is not classic bookmaker (except for their "multiples", where you bet against BetFair and not other bettors), and has various advantages - better odds, laying, trading, using external applications for easier betting, so I found those advantages to overcome disadvantage of commission - that's the way they operate, they don't earn money from your losing bets, as other bookies.

Commission is quite unpleasant, I would agree with that, but it is set fairly - if you don't earn, BetFair doesn't earn, too; but if you earn, BetFair earns, too; it's not unfair, in my opinion, it's only unwelcomed, with too poor discount rates.

[arcadia00]

Originally Posted by froment

Hm, I wouldn't agree with you; as I said, BetFair is not classic bookmaker (except for their "multiples", where you bet against BetFair and not other bettors), and has various advantages - better odds, laying, trading, using external applications for easier betting, so I found those advantages to overcome disadvantage of commission - that's the way they operate, they don't earn money from your losing bets, as other bookies.

Commission is quite unpleasant, I would agree with that, but it is set fairly - if you don't earn, BetFair doesn't earn, too; but if you earn, BetFair earns, too; it's not unfair, in my opinion, it's only unwelcomed, with too poor discount rates.

But Betfair could earn, that is my point, though not best earnings, which is why they don't.

My quip was a simple one. But I meant that it is fairer but not commercially expedient to make both the winner and the loser pay commission.

Both parties should pay commission, because the fee is for the utility provided by the matching of the bet.

Tradesports was the only exchange where at one time both parties had to pay price proportionate fees. Of course it no longer exists, so...

[froment]

Originally Posted by arcadia00

Both parties should pay commission, because the fee is for the utility provided by the matching of the bet.

Hm, I don't think I'd like it; it would probably work by including commission into stake (so, if you stake 20 eur, actual stake is 19 eur, and 1 eur is commission (in fact, it probably must be less than 5% if both parties pay that), which would complicate calculations, especially when trading; and in any case, I don't see big improvement for average punter, who has both winning and losing runs; such a commission goes to favor of those who have permanent winnings, and that's exactly what current commission at BetFauir supresses!