The nail in the coffin for me. :(

extract from statement issued -

"In order for us to continue to offer an Australian racing product to customers, it is necessary to implement an increase to prices on all Australasian racing markets," Betfair announced in a statement issued late on Friday.

"From May 1 2012, Betfair's market base rate on all thoroughbred, harness and greyhound races in Australia and New Zealand will increase from 5% to 6.5%.

"Customers will still obtain Betfair Points on these markets in the ordinary manner and will remain eligible to receive a discount on the commission payable in accordance with their discount rate (the maximum discount rate remains 60%).

"This price increase does not apply to any sport or overseas racing markets.


Had to happen & still much better than the alternative, feel for the traders tho,

it does not effect traders unless liquidity drops as they are on a low percentage anyways and pay little commission, that's why they pay PC

That's a 30% increase in the commission. :mad: :(

thank you for that NoRisk

Up a whole 1.5%
WOW - I'm shaking at the knees - How on earth am i ever going to survive.

They could have gone up 20% and I reckon I would still be doing better at Betfair than I am with a tote system that continually drops well over 100% after the race has started.
Thats the greyhounds , don't know about you horse people.

I wish they had of increased it to 10%.
How the ******** will I be able to mentally work out 6.5% :(

then I dont feel for the traders...

I'm not sure everyone understands the difference an extra 1.5% makes when applied to every single winning bet, no matter how little you end up winning overall.

From what i have seen if you are on lower commission you will not have to pay the 1.5% it will be staggered just like it is now, those on 2% might pay 2.6%

It certainly will have an impact Chrome - for example my commission for the last few days is $139, estimate it would have been $194 under the new structure.

The suppose the impact appears extreme as I mainly back or lay on 1 or 2 runners a race, but regardless still much better off than having to move back to the TAB's.

Well, Chrome I won't say it, I would love to say it but I won't but I will say that I would love to say it but I won't hee hee!

Well, I woke up to a rude shock.
Endora doesn't like Derwood, so suddenly my commission jumped from 4.40% to 5.72%.

Saaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaam!!!!

Your old! :D

2012-05-01
16:52 1937758872 2012-05-01
16:49 AUS Town (AUS) 1st May / 16:49 R7 1200m Hcap
Comm Charged 5.46% On Net winnings of AUD


2012-04-30
17:03 1936233688 2012-04-30
16:33 AUS Dubb (AUS) 30th Apr / 17:00 R7 1000m Mdn
Comm Charged 4.16% On Net winnings of AUD



Much the same story here CP. 4.16% to 5.46%.

May have to have a rethink about my whole strategy now.
************.. damn...poo......blast mumble mumble

could be worse fellas, could be back to


;)

Sad but true Norisk.

The way I am approaching all of this is the same as any event which eats into the bottom line - a tax hike (probably be dead & buried before another one of those comes around considering the state of the planet;)), power hike, rego hike, child support:o & on it goes...

Although one starts to wonder on occasion who one is actually busting a gut for...

" Although one starts to wonder on occasion who one is actually busting a gut for... "

Have been going down that track a bit myself lately NR.
Used to be that we worked

1 day for the tax man
1 day for the bank
1 day for the housekeeping etc
and the rest was ours.

Now it seems that the whole week is for someone else.
No easy answers, but I'm all ears if anyone has any suggestions.

2 average days in, have gone from 4.3% to 5.6%, and paid roughly an extra $9. Could have been worse, ie no Betfair at all.

Yeh looks like business as usual with solid turnover today.

Picked this up on a racing website i look at from time to time.

Anyone else heard this for all you Betfair users(not me),
I certainly hope this does not happen.


BETFAIR STUNNED BY NEGATIVE REACTION

An insider tells us that Betfair is so stunned by the negative reaction to their increased commission to cover the race fields levy they may be forced to abandon Australian Racing altogether.

Cheers.

link?

Recieved this morning in an email,

Amongst other things.

www.horseracingaust.info

Or i can send you the original email.

Cheers.

Just spoke with the proprieter it's not on the website,

It's an information thing that's passed out to members(via email)
Will send the email if you want for verification that i actually,
Recieved it

There are some articles not this one on the proffessional punters diary,
That may interest some regarding overseas bookie William Hill.

Cheers.

I didn't realize I had such an impact ;)

I have abandoned AUS markets completely in protest.
I used to have bets in every race including the trots, so turnover wise, I wouldn't say my contribution was small, although profit was.

As Mark indicated, traders and market makers will not worry one bit, but it becomes totally uncompetitive with Best Tote on the types of horses I back and for backers or layers of single horses.

It has even had an impact on those horses under $10, not just first and second favourites.

So I have moved my betting to UK and USA and have taken up AUS sports betting so my commission remains without the levy :D

I was just joking about my impact, my contribution is probably very small by average standards, but if I've done it, surely the bigger bettors will or have moved on, because of the greater impact on the profit.
It's only a matter of time.

Now to the bigger picture.
As a precedent has been set, what's to stop the AFL, or any other sport demanding a levy to publish the games and bet on them.
The AFL gets the turnover levy and is distributed to clubs after a percentage for the administrators and regulators of the sport?

I know for the last week i have moved everything to bookies and have not used betfair.

Sports administrators would be derelict in their duty if they don't follow suit.

And there off!
 

Been fiddling around with USA markets just recently myself CP, but what I can't figure out is how do you know when they're gonna jump? Is there any way we can get current knowledge?

Found a website that streams but of course it has the dreaded delay factor.

A couple of days ago. Indiana was jumping up to 5 minutes ahead of schedule. It does your head in!

Yes, Indiana often jump well before advertised start time, a few days ago it was at least 20 mins prior to schedule for each race!
I generally use Betfair live streaming (flash version) and as soon as they start loading the first horse into the actual barrier, you know they'll jump in seconds.
They say the delay is 15 seconds, but depending I think it gets up to at least 30 seconds at times.
Sometimes I've been caught out with a large field not one horse loaded and they're off, so I actually think the delay varies up to 60 seconds depending on the track.
I usually stick to first horse in, they're about to fly the gates.

Thanks
 

Many thanks for that tip CP, I'll give it a whirl.

Pimlico is the offending venue this morning. Grrr!

TWOBETS, try http://espn.go.com/horse/liveracing08.html

Their delay is generally less.

TWOBETS I find the "running late" at some tracks is far more annoying. After a while you get used to the delay.

Yep I've used twinspires myself, sometimes you can toggle the two and get untelevised races from one or the other.

At twinspires CCleaner is you're friend ;)

Ta very much.
 

Thanks Mark. ESPN was the site I had been using and yes I agree the delay is quite a bit less than Betfew. Still, as CP says maybe one will have a venue while the other doesn't, so it's all helpfull stuff. Ta again.