Betfair Turnover Charge on it's way...

[norisk]

Many customers will be aware of the recent Australian High Court ruling requiring wagering operators to pay a fee based on turnover to accept bets on New South Wales thoroughbred and harness racing. Racing Victoria and Racing Queensland are both also moving to a fee regime based on turnover with Queensland commencing on 1 August 2012 and Victoria expected on 15 August 2012.

Betfair has been reevaluating its pricing structure in the wake of these decisions and it has been determined that regretfully a turnover charge will be applied to a very small group of customers who meet specific criteria. This will ensure Betfair can continue to offer the best wagering product in the market and provide our customers access to all Australian racing content. The charge will come into effect on 30 July 2012.

http://betfair.com.au/turnovercharge/

[norisk]

Trading just about done & dusted on OZ Racing I believe...

[Shaun]

Using betfair for trading on oz markets is finished, this will be interesting to see the effect it has on the markets.

[moeee]

Hopefully it stops ************s setting my wagers for 3 cents worth!!!
So annoying

[norisk]

What you on about mo?

[moeee]

say want $10 on something.
occasionally I get set for 3 cents
or 12 cents

These pesky little bets are annoying

[Gee]

say want $10 on something.
occasionally I get set for 3 cents
or 12 cents

These pesky little bets are annoying

another way for them to get money out of the every day gambler i'm no pro but doesn't seem fair to me

[Chrome Prince]

Traders are lining up at the gallows!

Despite this new charge, Betfair’s prices will remain the best of any wagering operator on Australasian racing.

Entirely false and misleading statement.
It is correct that Betfair's prices are the best, but there fees and charges and commissions and taxes and premium charges and and and.... are the highest, meaning the nett price is not always the best.
On many occasions Top Fluctuation or best tote would be miles better even without charges.
To claim they are the best is false.
Among the best would be o.k., but to state they are the best is entirely wrong.

Oh if only I had millions, a class action could be brought with a statement like this.

[Gee]

Traders are lining up at the gallows!

Despite this new charge, Betfair’s prices will remain the best of any wagering operator on Australasian racing.

Entirely false and misleading statement.
It is correct that Betfair's prices are the best, but there fees and charges and commissions and taxes and premium charges and and and.... are the highest, meaning the nett price is not always the best.
On many occasions Top Fluctuation or best tote would be miles better even without charges.
To claim they are the best is false.
Among the best would be o.k., but to state they are the best is entirely wrong.

Oh if only I had millions, a class action could be brought with a statement like this.

hit a quadie worth alot and your in action

[Shaun]

I agree, i have done tests in the past and the betfair SP was beating best tote, but the question remains about how much you can back at BFSP.

[The Ocho]

Thanks norisk

This is terrible for Aussie betfarians that trade a fair bit. I don't think it will affect me with my BIG $20 and $50 back and lay bets (when I could be bothered on a Saturday) but you never know.

The talk about best prices, how much you can get set for at BFSP and the like is surely somewhat muted though by the bookies closing or severely restricting accounts of anyone remotely successful. You really only have two options then with your local tote or betfair, haven't you?

[norisk]

Exactly The Ocho, only 2 realistic options & one is a proposition that appears to be getting worse day by day.

I have this looming type feeling I will be back stuck with the tote sooner rather than later.