
18th February 2013, 01:03 PM
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Banned
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Join Date: Jan 1970
Posts: 868
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This charge will only apply to customers who during a week meet all three of the below criteria:
have matched back bets on 50 or more markets which Betfair is subject to a turnover fee from a racing body (‘turnover charge markets’);
have matched back bets with an aggregate value of $2000 or greater on turnover charge markets; and
the total commission generated by the customer on turnover charge markets is less than 1.5% of the aggregate value of matched back bets placed by the customer on those markets.
Total commission generated is half of the commission paid plus half of implied commission, calculated by the formula = (commission paid + implied commission) ÷ 2.
Implied commission is 3% of player losses where players make an overall loss on a single market.
Turnover charge markets will be identified in the grey text of the market view.
MG you need to calculate how much commission you paid on those winning bets & if it less than 1.5% of your total bets then turnover charge may apply.
Also I am fairly sure Betfair give you one weeks grace & let you know that the turnover charge will apply in future if you meet the 3 criteria.
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