Quote:
Originally Posted by The Ocho
I have no idea how the premium charge works and will, most likely, never get there. For us laypeople how does this work if they take 20% from you? How can they justify that? It seems an awful lot of greed on their part.
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They justify it by saying that they need that level of turnover for advertising, etc to bring in more punters for the winning punters to keep playing against.
It affects less than 0.5% of punters because most punters win and lose often and generate commission. Some punters do not lose very often. These punters (0.5%) end up paying less commission overall so to bring them up to the average commission that other punters pay we get charged 20%.
Trust me 20% is fine. Its when you hit the next level where I am going to feel it. When you get to the premium charge at higher rates you are paying 40% on commission. I expect to hit that level this year. To be at the higher rates you must have:
1. Lifetime net profits*** exceed 250,000 pounds. (about $450K-$475K AUD)
2. Commission generated less than 40% of lifetime gross profits
3. Bet in more than 1,000 markets
I meet condition 2 and 3 at the moment. I am quickly approaching condition number 1 and as I said will more than likely hit it early this year.
I don't mind paying the commission. I use the platform, I make a profit. I just see it as a tax which I can generate easily enough with break even systems which in turn increases liquidity and makes it a better platform for other punters.