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  #11  
Old 16th November 2017, 05:27 PM
partypooper partypooper is offline
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UB, re commission, yes that's why I quoted 25-30% LOT, as I was aware that the commission "depends" this premium thing, what's the criteria for that is it based on S/R or on a $ amount?

Today 25 hits; no accidents but with still a possible 11 races to come (depending on prices) though I have taken some advice, to give this a long dry run.
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  #12  
Old 17th November 2017, 08:38 AM
Mark Mark is offline
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Quote:
Originally Posted by partypooper
Today 25 hits; no accidents but with still a possible 11 races to come (depending on prices) though I have taken some advice, to give this a long dry run.


Don't bother with a "dry run".
If your research shows it wins just do it.
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  #13  
Old 17th November 2017, 11:13 AM
partypooper partypooper is offline
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another 6 yesterday no accidents, but that is the extreme!
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  #14  
Old 17th November 2017, 12:17 PM
Shaun Shaun is offline
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When it comes to betfair i believe that you need to put the money down, even in small amounts as the market can do some strange things at times.
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  #15  
Old 17th November 2017, 01:12 PM
darkydog2002 darkydog2002 is offline
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Hi Mark.

The hardest part of Betting is the confidence and capital to start.

I,m with you there.

Cheers.
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  #16  
Old 17th November 2017, 03:45 PM
UselessBettor UselessBettor is offline
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Quote:
Originally Posted by partypooper
UB, re commission, yes that's why I quoted 25-30% LOT, as I was aware that the commission "depends" this premium thing, what's the criteria for that is it based on S/R or on a $ amount?

Today 25 hits; no accidents but with still a possible 11 races to come (depending on prices) though I have taken some advice, to give this a long dry run.


premium commission info is availabel here : http://www.betfair.com/aboutUs/Betfair.Charges/

You will only be considered for the Premium Charge if, over the lifetime of your account, you satisfy the following criteria:
- Your account is in profit;
- Your total charges generated are less than 20%† of gross profits; and
- You bet in more than 250 markets.

Two further conditions reduce the likelihood that you will be required to pay the Premium Charge:
- Any single win that constitutes more than 50% of your gross profits over the lifetime of your account will be excluded from the calculation; and
- Each customer will have a lifetime allowance of £1,000 against the Premium Charge.

Each week the customers who meet all the conditions set out above will be charged the lesser of:
The difference between 20%† of the previous week’s gross profits and the total charges generated during the week; and
The difference between 20%† of gross profits and the total charges generated during the lifetime of the account.
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  #17  
Old 18th November 2017, 01:15 PM
partypooper partypooper is offline
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It's certainly flattened the whole thing!
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  #18  
Old 18th November 2017, 03:17 PM
UselessBettor UselessBettor is offline
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Quote:
Originally Posted by partypooper
It's certainly flattened the whole thing!


What do you mean ?
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  #19  
Old 18th November 2017, 05:46 PM
partypooper partypooper is offline
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The whole Betfair thing I mean not this particular idea. But there again I guess you have to be earning to pay tax!
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  #20  
Old 18th November 2017, 06:42 PM
UselessBettor UselessBettor is offline
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Quote:
Originally Posted by partypooper
The whole Betfair thing I mean not this particular idea. But there again I guess you have to be earning to pay tax!


Yes and its 20% on gross profit. So from that point it kind of gets easier to work out commission even though your paying more
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