Betfair premium charge relaxed!

[Adam]

Must admit I didn't see this coming! Tbh I just thought they would run the exchange into the ground and then sack it off.

This will pull a ton of people out of PC eligibility altogether who were previously paying it, and make a load more people stop worrying about hitting the 40% threshold. Plus no 50%/60% rate either by the sound of it.

Hopefully this will encourage more activity on the exchange.

[Adam]

@nick Do you mean the standard 2% commission? Yes they're definitely still charging that, this is specifically about the premium charge on top of that.

[nick]

@Adam I think they have missed the word extra out of the blurb, 'Winners will need to profit more than £25,000 per year to qualify for any EXTRA charges'. I think there will still be the 2% charge.

[Adam]

Apparently they're revamping the reporting dashboard as well, which is desperately needed. The figures shown on the current PC page aren't even the figures used in the calculation!

[Richard Latimer]

I guess it means short terms some people will be there way ahead of time but longterm it's not going to affect the bottom line as much. Excellent news on the whole.

[Adam]

@james-everard Yes! It's calculated based on a rolling 52-week total instead of lifetime profit.

[james everard]

Are they scrapping the life time profit before the £25k annual profit applies ?