Betfair Premium Charges – should I be pleased!?

[Racing Daily]

I’d love to see everyone migrate elsewhere, i’d just

LOVE

it!
As has been said though, they hold the majority share of the market, so they can rip the gonads off of their customers just like eBay does.
It’s a disgrace, but the majority accepts it.

[Goldikova]

I’m beggining to have less sympathy for people who compromise their own moral’s in order to stick with Betfair. I’ve fallen out with bookies over a meer pittance before, Betfair included. If you are willing to stand their and take it then you can have no complaints. Id rather take a lesser profit from another exchange as a preference to feeding the narcissistic greed of Betfair. Fiver percent is a massive ammount of profit for them, so to then dip their big dirty hands into peoples accounts is just not right.

[Seagull]

Drone
I have no connection with Patrick Veitch or his publishers.

However to read how some one who started out having just £20-£50 on a horse to someone who made £10,049,993.03 in 8 years he clearly has a story to tell.

This is someone who Michael Tabor used to pay to provide him horses to back so clearly someone who clearly knows what he is doing.

It may suprise most of us but the majority of his selections are from simply studying form, draw bias etc etc and although he may now have some inside knowledge through owning many horses the vast percentage of his wealth was gained by using the form that is there for all of us to see.

I have purchased many horse racing books and this is amongst the best.

[Librettist]

Dear Christopher,

Thank you for your e-mail.

We do spend a huge amount of money on marketing, either to acquire new customers, retain existing ones, or reactivate former ones. For more than 98% of our *winning* customers, the commission they pay when they win meets that cost, because although they win overall, their betting has a healthy mix of wins and losses and its unlikely that they will ever need to pay the Premium charge.

For less than 2% of our winning customers that isn’t true, as the rate at which they win, in the long-term means that they remove money from Betfair having paid less than it cost us to get that money there in the first place.

We have introduced the Premium charge to enable Betfair to continue growing in the long-term, and for there to be ever-increasing amounts available to be won by all customers.

Please do not hesitate to contact us if you have any further enquiries.

Kind regards

Darren Barnard

Thanks for the advice in replies above – I have sworn to never bet with them again. Whether that proves practical only time will tell.

[Anonymous]

If ever there was a statement to not release to the public, that was it.

Reprehensible Betfair b*llshit.

[dave jay]

.. less than 2% .. I thought it was less than 1% a couple of months ago.

The problem with the 2% figure, is that it is not the same 2% of punters every time.

[shmeeko69]

Unfortunately you won’t get far with Betfair. They have become a monster & are vying for Ftse 350 status & trying to keep their shareholders happy. Not good for the punters, as the additional costs get passed on to them & whilst they continue to grow & can afford to advertise at every sporting event & ground in the UK, nothing will get in their way. They’ve forgotten who put them their & in eight years & have become a sporting superpower !

Cheers

Mark

[Racing Daily]

Dear Christopher,

Thank you for your e-mail.

We do spend a huge amount of money on marketing, either to acquire new customers, retain existing ones, or reactivate former ones. For more than 98% of our *winning* customers, the commission they pay when they win meets that cost, because although they win overall, their betting has a healthy mix of wins and losses and its unlikely that they will ever need to pay the Premium charge.

For less than 2% of our winning customers that isn’t true, as the rate at which they win, in the long-term means that they remove money from Betfair having paid less than it cost us to get that money there in the first place.

We have introduced the Premium charge to enable Betfair to continue growing in the long-term, and for there to be ever-increasing amounts available to be won by all customers.

Please do not hesitate to contact us if you have any further enquiries.

Kind regards

Darren Barnard

Thanks for the advice in replies above – I have sworn to never bet with them again. Whether that proves practical only time will tell.

So they are saying that you should subsidise their marketing efforts to get more customers, and increase their market share? Do you own a share in Betfair? No, I thought not.
Yes, it’s an ignorant, reprehensible answer to a relevent question. You just got fobbed off mate, that ain’t on. They will get the point if enough high users go elsewhere.

[shmeeko69]

Yes your spot on, I find Betfair now take an arrogant stance & have totally forgotten about the people who built their business over the last eight years. I went to one of their education days last september in Middlesbrough, just before they announced the premium charge & not one of them had the courage to enlighten the audience of these forthcoming charges !

Mark

[Anonymous]

I think it’s also worth noting that Betfair are, as far as I know, the only company who charge when customers deposit by PayPal (Ladbrokes, William Hill and Paddy Power certainly don’t and I’m not aware of any other companies who utilise the PayPal system).

[Anonymous]

I took the liberty of copying Mr Barnard’s e-mail on to Andrew Black’s blog, Librettist, in the hope of establishing if the comments made were a true reflection of Betfair’s stance on premium charges.

He said that, based on previous experience, it was a ‘don’t go there’ subject for him.

[gamble]

I don’t post much these days
I am often mobile
and find I am always loading pages.

The average age of a combat soldier in Nam
was nineteen
always loaded
he wasn’t really sure what was going on

Softbank’s operating profit for the year
before the charge was introduced
was twenty
twenty twenty twenty percent

I do remember Andrew Black’s response.
He is fairly upfront with his views
and I like that and will respect his present silence.
His different thoughts
created the big blue
and big blue became blue hulk
the day the charges came in

many weren’t really sure what was going on

[Sean Rua]

Judging by figures I’ve read, the major Exchange is already in decline. These figures relate to the levy paid to racing. This levy is based on gross profits.
The trend is down, which is not exceptional in the current economic climate.

[Racing Daily]

Judging by figures I’ve read, the major Exchange is already in decline. These figures relate to the levy paid to racing. This levy is based on gross profits.
The trend is down, which is not exceptional in the current economic climate.

It’s hard enough to make 105% ROI just to break even, but when they expect to take a fifth of anything over that it really takes the biscuit and is representitive of how greedy they really have become.
It surprises me not one jot if many have decided that they just cannot make it pay any more.
Have BF any friggin’ idea how hard it is to make a regular positive roi? And if they have, have they not encompassed the idea that they may well permanently damage their business by acting like parasites?

[Librettist]

I took the liberty of copying Mr Barnard’s e-mail on to Andrew Black’s blog, Librettist, in the hope of establishing if the comments made were a true reflection of Betfair’s stance on premium charges.

He said that, based on previous experience, it was a ‘don’t go there’ subject for him.

‘Don’t got there’ subject? I thought he ran Betfair?! Or am I well behind the times in this as well?

[Librettist]

Any chance you could post Andrew Black’s blog address – have done a quick search but could not find it – thanks Equitrack.

[Mr Frisk]

http://www.bertsblog.co.uk/

[Author]

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