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Originally Posted by jfc
As we can see Betfair avoided defining an active customer until pressed. Then it responded in a roundabout fashion.
The criterion of at least one bet that week, is hardly what reasonable people would consider active.
It includes freeloaders, once-a-year'ers and many others whose turnover is so inconsequential that they are a loss-making segment for Betfair.
If instead Betfair had chosen a more meaningful group say "regulars" with a disclosed criteria of say 100 markets a month, then we would be in a position analyse Betfair's claims.
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You are arguing against yourself here, the figure also includes the traders, the arbers, the punters who bet every race every day. It also includes the bookies laying off huge amounts on the exchange.
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But obviously that sensible move would result in a figure far in excess of that 0.5%.
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Clearly there is some degree of misinterpretation here. The 0.5% figure relates to people affected, the rest actually pay no premium charge because they already have paid their share of commission. Many quite large investors on various forums have queried their account statements and done a premium charge reconciliation, finding they are not affected at all. Possibly in the future they may be affected, but this would be a one-off circumstance.
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That figure of 0.5% received a thorough caning on the Betfair forum, since a very high percentage of posters found themselves affected.
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a very high percentage of posters claimed to find themselves affected, a very different thing.
They are scared that they will pay in the future. The number of posters claiming to be affected does not tally with all analysis of winning customers.
It is clear that people are inflating their own capabilities to mount an effective argument.
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Yet for some reason we find people actually going in to bat for Betfair
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It's not a matter of going into bat for Betfair, it's a matter of getting some accuracy.
Betfair did not cause a mass exodus from the markets, punters overreacting caused it. The whole announcement has caused confusion and controversy because they did a very poor job of explaining it fully.
I will be affected because I don't pay commission unless I win on a market, therefore I don't currently pay as much commission as a punter.
However, I'm far from throwing in the towel to another exchange which has it's own problems.
There are ways to get around things, almost always.