Hi mattio and anyone who will listen,

Don't be fooled, the Betfair takeout doesn't seem like much (5%) but it sure adds up (particularly if using recovery rather than straight out level stakes betting).

Take for example today. I was trying out the backing the 3rd fav mode (level stakes simulation bets which lost over the complete day) but the 3rd fav had to be over $6 on BF. In the sixth race the 3rd fav won and paid $8.40 (matched at 9.4). 5% of 8.40 is 42c making the actual amount won for that bet $7.98.

Okay, that's fine if it was the first race but, as it was the 6th race, I would have lost $5 in the previous races. This means I won (in simulation mode) $3.40 for the day which was reduced to $2.98 by the 42c (5%) commission.

BF wouldn't of deducted only 5% from my money today for commission though - they actually took out 12.3% from the $3.40 which I actually won today leaving me with $2.98. And of course it gets worse if your chasing losses in recovery mode.

Be warned