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Pete , I dont think its that simple, as if you are someone who has made steady profits over the last 10 years that exceed 250k , you now have a bill to pay with betfair in the near future
Thats plainly wrong …unless of course you can explain why it is not
cheers
Ricky
If Betfair had started out allowing modestly higher prices than the bookies, it would not, I believe, have been so successful, and neither would punters resent the envy which has evidently led to this extraordinary premium. But neither would it, in any case, be capitalism in any form to arbitrarily limit the exposure of the amateur bookies they have created, so it’s a vicious circle.
Maybe the CEO and directors feel that they should get larger bonuses at their customers’ expense, what with the boardrooms of businesses which make massive losses, crowning their achievements with massive bonuses.
Trouble is, it is likely to lead to a degree of disaffection, irrespective of any premium over bookies prices it may still afford. People who make money by their wits simply do not like being treated like the general public, who are routinely exploited beyond measure by rip-off Britain. We shall see.
Licensed thievery on a grand scale, they are stealing loads on the in running markets every day with their cross matching as well as doing loads of hoovering and they’re still not satisfied. They want it all for themselves, a despicable company.
Copy of email I sent to Betfair after they wanted to know why I had closed my account recently:
Thank you for your email.
I do not wish to self-exclude as you suggest – I wish to close my account permanently.
You asked for the reason. The reason is that in 2008 I was stung for a four-figure ‘Premium Charge’ after a particularly good run. Since then I have been on a significantly poorer run (as you will see if you check my account). I am hardly the sort of punter that your PR men refer to when describing who should pay the Premium Charge yet I was still caught out. Seems that they weren’t referring to Harry Findlay either! Getting that charge threw me to such an extent that it affected my trading with Betfair and confidence in the company. I have now scaled down my trading and I find that liquidity is available on other exchanges that do not penalise you for winning, like Betfair does, and that there is now no longer any incentive for me to use Betfair over any other exchange (or ordinary bookmakers now that prices are more evenly matched).
The final straw was your recent announcement of a massive hike in the Premium Charge.
I can no longer contribute to a company that treats it’s customers in such a way. Incidentally, I would not have a problem if you went after the real milkers, the 1.01 merchants with a time-lapse advantage, the hooverers and arbers.
Of course, I you would like to return my premium charge I would be happy to reconsider, but I know that will never happen, so I shall sit back and watch the Betfair implosion with interest over the next few years!
Sincerely,
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