Did you deduct the 5% fee for betfair?
Plus a few more bits and pieces along the way

shucks forgot about that! but whats these bits and pieces?

is the 5% deducted from WINNINGS only? and if so;
is it from each individual bet?

I will check my account Party, but I stopped betting on betfair for many reasons, one of them is that somehow I get small charges I can't explain.

True I must admit, I'm not full bottle on it myself, not to mention I can't, nay, I will not sit in front of a computer all day.

I'll let you know.

You pay the com. on net winnings for that race.

Crackone, thanks for that, but I gotta tell ya I smile every time I see your username, POMMY humour from way back, hahahh!

Anyway, I'm slowly getting the drift of Betfair, even with the commission, it looks like a 6-8% advantage.

But I've noticed so far, the advantage seems to be on winners ABOVE 3-1 is that fair comment?

The lower end seems to about even stevens with best tote and less than Top fluc, which would make BOB a better product for conveyances at say 3-1 or less?????

Also one has to remember if you are dutching the effect of that 5% is VERY significant, in the sense that say you cover 3 horses then you have already backed 2 losers BUT you are paying 5% on the so called "winnings" eg say you back 3 horses $100 each and get the winner at 2-1, so you "win" $200 and pay $10 comm. you actually only broke even but STILL paid $10 comm.??

Still seems like only betfair is winning to me?

PS. I have some data from Typhoon pools, that shows that the advantage on the lower end. i.e. 3-1 and less is about a 5% advantage over best tote, with no restrictions, no sitting in front of the comp all day etc etc.

Mmmmmmm, more food needed!

That seems about right in my experience although better prices can be had if one can 'read' the ebb and flow of the market. Umm, if I'm reading that correctly you have outlayed $300 and returned $300 - no commission. Commission is paid on the nett winnings on the race only.

Dennis G, great news BUT are you sure about that as i've already been assured that the commssion is levied on each INDVIDUAL BET???????

By the way I'm not knocking anything just trying to establish the best deal, e.g. recently IAS promoted Super Price, guarantees better than 2 totes, ...... so eg totes $2.....$2,50c......... $3 SB pays $3, IAS pays $2.51c and calls it "SUPER PRICE" I ask you where would you have rather backed it????

The commission is paid on the profit from the race.

here is an actual example of dutching and the charges Party, see if you make any sense of it?

14:03 2010-02-26 Comm Charged 4.89% On Net winnings of AUD45.2 (2.21)
13:59 AUS Ipsw (AUS) 26th Feb / 14:00 To Be Placed / 8. Koranovsky Back $2.84 * 30.00 Won 55.20
13:54 AUS Ipsw (AUS) 26th Feb / 14:00 To Be Placed / 5. Shanhai Pass Back $2.39 * 10.00 Lost (10.00)

Hi Party,

just a small note that its not all roses with betfair. The prices that you are getting are post race I presume or some index on the web site. They are NOT what you would get when you decide to take the bet. The prices fluctuate, the ammount available (liquidity) varies and you have to actually get them. Sometimes I missed bets because the prices changed so often that I failed to keep up with them and never got matched.

You pay commision on every profit that you make from a winning race. If you bet 2 horses and you got $2 div for each and one won you would actually not pay commision because the overall result would be break square (no win).

The SP from betfair is in my opinion not favorable to backers as many people place laybets at smaller prices to drag the SP down there by creating an ideal opportunity to abitrage the bet, no good for those that are trying to bet the other problem is that you can never assure that there will be the money available to fulfill your bet.

You are spot on the higer the price the more errors by those that provide the back bets. You will get no favours on a thing that is short in the market. Bookies prices are a good guide to what the betfair price will finish up at.

The higher the price the greater presure on the layers to entice the backers to take their price hence the prices are higher.

Gone are the days where you could make a killing on longshots. All te stupidity is gone from the market and pitens are available on any decent div.

As far as the commision , depending on your betting activity it goes down to a 2% but I think the volume must be quite high and sustained to achive that but 3-4% is probably quite achivable.

As for Typhoon pools, their prices are atractive, their pools are not ! If you bet any serious money their you will destroy the price. That is the curse of any new comers to the tote game, they have no liquididty to take bets, the exact reason why Aus TOTE never got anywhere, they always offered good prices for those that bet $10 or less.

All the above are just my opinions and beliefs and may not be all acurate.

Providing that you can overcome the limitations then there certainly is a nice way to enhance your profit for ne extra risk. If you want to bet $1000 , its the same bet regardless of the price you take, there is no extra risk taking $5 about a horse where others are offereing $4.

Michal