Betfair Expert Fee REVEALED: Surprising Reasons You Might Never Pay

[@pauljones4060]

I got out of the expert fee by being crap at Betfair trading .

[@aaa-ky5ds]

Same here mate I've lost thousands. Whenever I bet on anything the odds go the other way. I think it's fixed.

[@jeedub6142]

@@aaa-ky5ds It's not.. you just need to work out why you're entering the trades, and figure out why it's not working. Likely, you're being emotionally driven and reacting to things, instead of pre-empting things and taking your time. (Although, in the moment, this is quite a self-reflective thing to do... takes time) Good luck with learning, and developing your trading. EDIT: To clarify; I was a manual (retail) trader on the forex markets for years and lost money from acting late in moves and then being left holding the bag when the move in the market was over. It took a step away and a re-learning of the process to figure out where I was allowing myself to be guided by emotions, instead of pure logic.

[@stephenoreilly3061]

😂😂 this comment made me happy

[@betangeltv]

Learning that the market isn't fixed, is the first step to mastering it - kzbin.info/www/bejne/kJ3Qfn6opqutbsk

[@eightbo]

@@pauljones4060 😂😂 quality. But maybe you're just in the wrong sport or need to think more long term (52 profits and 48 losses will seem random during the trading day but if you can repeat that consistently it's actually slightly better than random - a key difference)

[@zzhughesd]

Peter. Nice and clear video thanks. Wasn’t aware had tweaked re named it.

[@betangeltv]

Glad to help

[@harrogateflyer]

Thank You Peter, great insight as ever.

[@pedrombaptista]

But I have to admit this is the best change since I started trading in 2005, betfair is going the right away in my humble opinion. Even if they are not always 100% professional about it they are learning, and Im glad you got to help them. Im sure you did an amazing job. You are one of the people I've always followed by your simplicity and at the same way complex toughts, made me walk miles while I wasnt profitable. Thanks for being here for us Peter you have my name so you had to be an amazing guy. cheers

[@aaa-ky5ds]

Sir Peter this is a huge change. For small winner on PC, we go from paying 21% (as was the case how it was calculated if you had no losses in the week) to paying just 2%!!! Massive difference. I can even use my account to arbitrage again. Just hope if I have losses they don't ask for SOW documents.

[@andrewvickers4487]

It's a big step up from the premium charge for sure and I'm all for a brighter future for exchange betting. However I think it's only fair that we question their moves, especially in light of the fact that they happily raked in the PC for all those years... For example, why didn't they simplify things by doing away with the fee/charge altogether and just increase the base rate with earnings once you reach a certain amount? I'm just wondering how much profiteering is added on while they secure a more viable future. Sorry to sound so negative with what is no doubt adding a lot of incentive. Happy new year Peter!

[@jimmymcjimmy9160]

Just a wee correction it was launched as a desperate attempt to generate a bigger turnover for a failing business model, we can discuss and have our own opinions of why its failing but truth be told it will be very difficult to resurrect a fraction of what betfair used to be like.

[@aaa-ky5ds]

Yeah the betfair exchange is at the end of it's life cycle. Don't get why a bookmaker bought it? Same happened to ladbrokes and betdaq.

[@betangeltv]

Betdaq is an independant exchange

[@aaa-ky5ds]

@@betangeltv Yes. Used to be owned by ladbrokes.

[@stephenoreilly3061]

Betfair is surely not at the end of its life cycle ? Seems it’s only getting more popular among gamblers

[@betangeltv]

@aaa-ky5ds - It's been independent for some time, doesn't seem to have made much difference.

[@fraac]

so i should still be hedging, even with expert fee?

[@betangeltv]

If you can generate commission at no cost to you, then it makes sense to do so.

[@aaa-ky5ds]

If I'm not an expert but an intermediate and get lucky on 2 or 3 football bets will I have to pay it?

[@aaa-ky5ds]

To be honest I'm not an expert at anything so I shouldn't have to pay any commission at all.

[@OzzyMtz]

🎉

[@pedrombaptista]

They did a nice job with this but they have to be more professional about it this is a joke. Disrespect of old school clients.

[@aaa-ky5ds]

They should have removed premium charge for small winners about 10 years ago.

[@creightonjason]

Just pure greed by Betfair.

[@aaa-ky5ds]

Yeah too greedy for their own good. They have lost their monopoly.

[@betangeltv]

To whom?

[@kopthelotklopp1523]

I won’t be paying it because they closed my account after 19 years with no clear explanation. Melts.

[@betangeltv]

My account was once closed, unknown to me by updating a phone number on one account that matched the updated details elsewhere. It was automatically closed as they don't allow duplicates and have a system to detect it. You should actively pursue the reason why, it could be that simple.

[@eightbo]

Why are accounts getting closed? I'm afraid to lose my account, just gonna try and make some cash before it happens and switch to financials if so

[@betangeltv]

@eightbo - I'm not worried about it, I think some of it comes from panic around affordability checks etc.

[@eightbo]

@@betangeltv true it's only a slight concern, but when long-standing accounts like megarain and this commenter get shut down (admittedly, context is lacking), it seems possible to be in that situation yourself one day

[@kopthelotklopp1523]

@@eightbo Yeah I’m certain it’s not to do with something like an updated phone number. I work in the industry and many former colleagues have also been closed so possibly IP from our office as we all logged in at work. Also with me I used to deposit and withdraw almost daily, often well in to four figures so possibly as Peter mentioned it’s to do will affordability or maybe AML etc. I lost count of the amount of times I provided documents and proved it I had a big loss on the exchange I’d won more elsewhere. Trying to get a reason out of them though I’d like getting blood out of a stone. A lot of the reasons will be for internal use only. They told me I’d broken terms and conditions but didn’t specify which one(s).

[@eightbo]

You were right all along Peter! I'll not pay expert fee yet 🕺🪩 ⬇️⬇️⬇️ *Weekly Summary* _(Based on activity from 6th Jan - 12th Jan 2025)_ Expert Fee Due: £0.00 Gross P&L: £2,623.79 Commission Generated: £177.45 Fee Rate: 20% Last Week Buffer: £103,771.00

[@aaa-ky5ds]

What's a buffer?!?

[@betangeltv]

Betfair carry forward any 'overage' so you still won't necessarily pay if you fall into a payment band.

[@eightbo]

@@aaa-ky5ds buffer is how much you can make before incurring the expert fee