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Let scrooge explain it:
I thought it was Fagin?
Yes of course your right, Fagin from Oliver Twist, Charles Dickens!!
However,if it was Dermot Desmond in a master disguise all i can say is……….he needs a good meal,no point in making fortunes if your not willing to pay for a good meal!!
I like this post from the Betfair forum .. I’ll post it here for anyone who missed it ..
SEPTEMBER 2001
Joe Punter: Twenty tenners please.
Betfair Bob: You would be better off putting that on Betfair rather than this betting shop, It could be as much as 40 on there, less 5% comm, gives you over 37/1.
Joe Punter: Really? I will have a look at that.
SEPTEMBER 2008
Joe Punter: Twenty tenners please.
Betfair Bob: You would be better off putting that on Betfair, it could be as much as 40 on there, less your commission, which is your net winnings multiplied by the Market Base Rate, after your Discount Rate is converted from your Betfair Points Total, and applied to the Market Base Rate, unless of course, you have taken a Betfair Holiday, when your Betfair Points will not be credited, so your Discount Rate will remain the same, but you won’t be subject to a 15% decay in your Points Total at the end of the week.
However, if you win you may qualify for the Premium Charge of up to 22.5% which is dependant on your forthcoming weekly profit in relation to the commission payable for that week or on a rolling 60 week average, which is when your commission and implied commission is calculated and divided by two, which is ok because it can be offset against the £1000 Premium Charge allowance, and at the end of the week you find out what price you got.
Joe Punter: Twenty tenners please.
… Pick a pocket, understatement of the year IMO, worse prices than the bookies after this change.
I saw the article today saying the reasoning for the change was because they didn’t want to run out of losing punters. Betfair have really lost the plot, unless they are going to give losers a cut of their money back from the Premium Charge how is that going to work? If they really meant what they were saying they would be simply banning winning accounts but aren’t doing that, they are just taking a piece of the action for themselves.
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