EXCLUSIVE NEWS : Betfair’s Premium Charge Scrapped! Full Details Revealed

[@betangeltv]

Here is the early Christmas present I have been promising. I didn't mention in the video that the commission generated will offset any charges. So don't forget that. I'll update this article to clarify any points not made in the video: - www.betangel.com/betfair-scrap-premium-charge/

[@SoSurreal-f9p]

Well done Peter for taking credit for the change ;)

[@adam160908]

Good news on the face of it but i could never understand why they targeted 20% from the small winners once you had amassed a certain figure no matter how many years you had been using Betfair instead of having a figure that rolled over every year, i just put it down to greed.

[@kopthelotklopp1523]

I wonder why they’ve done this? Are they trying to save the exchange? Because it seems to have been in managed decline for a while now.

[@PaulNicolas888]

Yes I think they have finally recognised the traders have largely vanished, the scene has been dead since 2019 in the UK (or on life support). I'm sure a threat from some of the big Asian markets has been waved at them here, it's certainly not the likes of me who used to make between £10k and £20k from the markets, this will bring me back though.

[@aaa-ky5ds]

Betfair exchange has been on it's knees for years. They had to do something. Problem is the trust is gone as they were so greedy when they were a monopoly. If I had the choice between betfair exchange or Smarkets I would choose Smarkets all day.

[@stmh9660]

They are probably trying to avoid users moving to betting brokers to use the clandestine betfair (Orbit X and some others you can access). Another thing is competition stepping up, Polymarket for example, it's a crypto dumbed down / brain rot version of Betfair, during the US presidential elections betting markets, Polymarket had a way bigger turnover than Betfair, by a long shot and that is saying a lot because that specific market in Betfair is colossal. Something else that definitely needs changes is the base commission, I paid 6.5% right away when I first started using betfair, moved to a betting broker and I pay 3%, huge game changer, if my commision was 3% on betfair, I would definitely move back to it. Good to see more competition in this segment of the industry, monopoly never benefits the end user

[@Vile_Entity_3545]

They banned me for no reason a year ago and I had been with them for 8 years. No reason just shut my account down.

[@grahambeyer6254]

Thank you for the early Christmas present Peter and Betfair, have a Merry Christmas and a Happy New Year to all involved in getting this done.

[@VinylGolfHammers]

Great news Peter! Thank you and Merry Christmas! 🎅

[@fraac]

very happy with this. nice work, peter!

[@lubosdanis5547]

Love it....looking forward seeing more activity on markets

[@mkouadri1573]

great video pete ,i can see the trading volume going up a bit.

[@betangeltv]

Hope so!

[@matthewmunn6965]

Christmas has come early for Peter!!!!!

[@johnvarospec8811]

Great news! Simplifies things, simpler system. One of the biggest hassles with PC was calculating it, this is simpler and less taxing on lower end. Happy to pay if I win larger amounts. Haven't used BF for over a year now because of PC disputes. Will be making a comeback.

[@aaa-ky5ds]

It's more complicated. Try and figure out buffer fee. I had loads of headaches with wrong PC amounts being taken and spending days trying to get it corrected so I stopped betting with them. This buffer fee will no doubt cause same problems.

[@grahambeyer6254]

Maybe when Adam Heathcote get's back to full health again this will tempt him back.

[@grahambeyer6254]

Does this work a little bit like the tax system? So you only get charged on the amount over the limit. So 0% on the first £25k anything over up to £100k is charged at 20% and so on. Because if you profit just £1 over that limit say £25,001 then you'll be charged 20%. Surely you should only pay 20% on anything over upto £100k.

[@gergynamfauk]

this is the biggest question , you would think it is the latter , if not then it could be manipulated, and some will if not then its a really good system and everyone knows where they stand in that every 1000 extra you make = 800 extra profit , no one wants to get to a point where 25 k = 25k but 25001 =20 k and some change , even if you made an extra 5k then your still worse off than not making any of that 5k , so it has to be payable only on profits over not totals

[@HermesTTT]

If your account moves/is above £25k on week 52, then you pay 20% on profit made in week 53. No expert charge before that. That is how I understood it.

[@PaulNicolas888]

I asked this very thing. Hopefully Peter/Betfair will clarify as it's a big point

[@GNMbg]

it would be great if it works like this

[@MartinGreen932]

Unfortunately it looks like it is not based on a tax system. Its a disaster for many punters who may slip into the £25k limit or £100k limit. It will be a farce whereby someone who stays around +24k pays ZERO and +99k 20% . But if you hover around 25-30k gross profit you get clobbered with a full 20% every week of profit. And a 100k winner gets a massive 40% clobbering.

[@alan_oz]

Thanks for the update Peter.

[@sinajberg]

Nice content and great news all in all. When is expert fee actually captured by Betfair - is it only at the point when withdrawal is initiated?

[@betangeltv]

It's done a 52 week rolling basis

[@petergibbs1683]

If you all moved to betdaq liquidity would rise to the levels of betfair & you wouldnt have to pay anything over normal standard charging tus saving you a fortune.

[@PaulNicolas888]

And get banned by Betdaq or Smarkets, both of those are nothing but bookies. Both ceed their own markets so they don't like us taking their money. Smarkets Premium charge is crazy more expensive than even Betfair.

[@betangeltv]

In 2008 when the first PC was charged we created Bet Angel for Betdaq. In 2011 when Betfair upped the PC we did a massive refresh on Bet Angel for Betdaq. Hardly anybody moved over. Nobody prompted the product despite it being completely free. I have shown it's perfectly possible to trade on Betdaq as well, but nobody ever seems to switch.

[@spaintrader]

@@betangeltv Sure, because on Betdaq there aren’t as many markets as on Betfair. I’ve tried it a couple of times, and I was alone on the ladder… it’s very frustrating, to be honest.

[@mariobucha5235]

@@betangeltv It's quite possible that if betdaq took over the monopoly, they would eventually make PC too

[@John-c4x4v]

To make if fairer they should add that you have to be a liftime winner before you move to the expert fees

[@betangeltv]

You will only pay it if you are a lifetime winner. On the flip side. If you are a lifetime winner but your strategy is declining, you will no longer have to pay any excess charges.

[@mpld1979]

Hi Peter, thank you for the video. A few thoughts. Firstly, you don't look your normal healthy self. I hope you are ok and if you are feeling rough, I hope you get better soon. Secondly, I can see why Betfair are readjusting their bandings. I think their percentage of winnings are greedy. I will keep my eyes and options open to over platforms.

[@betangeltv]

Thanks for your concern. My wife said the same thing. I changed the lighting and it made me look awful. But it would have taken too long to reshoot the content, so I just went with it. I'll look better in the next video!

[@lukebayshaw1958]

Most greatest news

[@johnc4]

So how is active weeks worked out, if I use BF during the European football season have the summer off so say 10 months of use is the 11th month August or am I back to 9 months

[@betangeltv]

Only weeks were you bet / trade will count. So in those down periods just do something tiny to keep the account active. A small bet or trade of some sort.

[@lebiecki78]

Maaaaaasssssive news ❤❤❤❤❤❤

[@adam160908]

Pity they are not scrapping the PC retrospectively LOL just like the disgraceful way they introduced the PC which impacted any ongoing retrospective bets which also affected your P&L with regards as to whether you exceeded the PC threshold.

[@gregprocter765]

Imagine having your own betfair account lol

[@PaulNicolas888]

This is excellent news, though I would like one point clearing up I think. So. If one earns 26K profit does one then pay 20% on the £1k or on the whole £26k? Great video Peter and thanks for helping this change be made.

[@betangeltv]

There is a buffer before you have to start paying. They have tried to explain it in their FAQ's

[@temp911Luke]

When does it start ? 6th of Jan ?

[@markgreen9738]

Better news for traders than system users/Big Punters. System users have always paid much more commission than traders as they paid commission on every single bet which was the way Betfair intended as when it started there were backers and layers and a much smaller number of traders. The premium charge was brought in as traders could trade massive numbers on one market but in effect be only charged a fraction as it is on the profit not the turnover. System users could escape premium charge altogether by having huge turnover on side bets that just 'break even' . Those people will now be paying a charge (and so will just big punters) when they may have not in the past. But overall, if most people will see a benefit, then good news. Agreed that it should never have been introduced to punish loyalty ! EDIT (Just read they will deduct the commission paid each week from the charge, not had time to review how that changes things!)

[@betangeltv]

No, they won't necessarily be paying a charge as commission is offset against charges, so it's unlikey.

[@glastonburyperspective6912]

Thank you for this video. If a trading period of 52 consecutive weeks is considered the chargeable period, could a one week break during any 52 week period keep me out of the charging criteria? 😊

[@betangeltv]

Active weeks are weeks were you do something. So a one week break doesn't really change anything. If you want an inactive week to count, just place any sort of bet.

[@scottbailey4716]

When do they take the Percentage rate off? Is it at the end of the 52 Week Period?.

[@BEYONDTHESCOREBOARD1]

How many are really paying premium charges on a daily basis when you can just use a friends account and skip that whole thing?

[@markmchugh5049]

I wonder how Betdaq, Matchbook, Smarkets etc will respond to this news?

[@jamesrgjnr1]

There will be some market manipulation now.

[@brovashift]

Did they say anything about scrapping deposit limits as well? 🎉

[@temp911Luke]

lol you wish. As a matter of fact from March 2025 deposit limit for most of us will be £100 unless you prove you are a head of Sony or Microsoft. :)

[@GNMbg]

@@temp911Luke really? who told you this ?

[@temp911Luke]

@@GNMbg Found this on twitter the other day: "From February 28, 2025, the UK Gambling Commission (UKGC) is lowering the threshold for financial vulnerability checks from £500 to £150 in a 30-day period. This means a larger number of customers will fall within the scope of these checks, and operators need to adapt to stay compliant."

[@shroudedlands9550]

On the premium charge graphic it says the rate is 20% if lifetime p&l > £0. Is that number not £10k ?

[@betangeltv]

It's complicated but there was a £1k allowance before it kicked in.

[@gusalien333]

Yes, they give some money back to the big traders but now they take it from every small trader that just makes above 25K. Never the less i want to say something... the solution for Betfair on increasing liquitidy is to open somehow the U.S.A. market and every trader must push to that direction.

[@betangeltv]

Unfortunately that's impossible, the US is a closed shop and Betfair failed to get traction over there.

[@malcolmwasher9915]

There changing the fee to a new name not scrapping it

[@GrantF-e7s]

So what you cannot deposit more than £100 a month anyway

[@antskilu1354]

for this 1% MC and 0.5 of this 1% are syndicats

[@Abruzzi4]

This is worse

[@grahambeyer6254]

How does this affect Betfair are they losing out or gaining?

[@betangeltv]

It's a delicate balance, but its a net negative because over 50% of people drop out of the PC mechanism and over 80% pay fewer charges.

[@Majko-ei1uw]

I don't think it's fair am 50k down life time and have started profiting consistency I lose out because of this

[@betangeltv]

You only pay it if you are in profit over your lifetime. So you won't be affected.

[@iain777uk]

What a strange week! From vanguard increasing their charges to Betfair removing their premium charge. WOW! PS thank you Peter 👍

[@temp911Luke]

Whats vanguard?

[@darrengould7254]

Only if you've got less than £32K with Vanguard though isn't it?

[@patrickpiranha4912]

Peter, Recent subscriber here: Have had a very good rummage around your offerings and just wanted to thank you for your intellectual contributions that are always excellently produced and always from a place of altruistic intent with no nefarious agenda. Those very small minority who actively whine and complain, because let's face it you can't please all of the people all of the time, well haters always gonna hate! Keep doing what you're doing for us appreciative viewers 😊 Merry Christmas to you and yours 🌲🎁☃️

[@willywagtail4182]

Great comment mate totally agree Merry Christmas from Australia!

[@betangeltv]

I truly appreciate your support! It means a lot to know that my efforts are making a positive impact. Wishing you a wonderful holiday season!

[@johnristheanswer]

What is the percentage of people who are currently paying PC. That must have been disgusted at these meetings. Secondly , what percentage of people make ' any profit ' over 52 weeks currently ?

[@JohnTomlinson-c4n]

Your in the pocket of Betfair. If i win £500 a week over 52 weeks I'll be paying 20% Charges 😢😢

[@betangeltv]

Nope, commission generated offsets the charges. People seem to be missing this and I should have put it in the video. Under PC you could pay 20% when you hit £5k in your lifetime. So it's a massive shift away from that.

[@koppite9600]

About to be Happy Birthday Jesus 🎉

[@paulthurlow3330]

Very unclear as it states GROSS profit >£25k then 20%. Gross is before commission, so techically If you are a break even player after commisions you could make £25 Gross but have paid £25k in commssion. You are at exact break even. You have already paid 100% commission on your Gross profit. Do they now want an EXTRA 20%???? OR are they saying you are already paying more than 20% so we will leave you alone?

[@betangeltv]

Commission paid counts towards any charges in the same way it did before.

[@paulthurlow3330]

@@betangeltv OK so the above example would pay no more up to £100k. The page in Betfair that did show the amount I had paid in commissions is no longer there. It also did show the percentage paid in comms as a whole for the amount won. I was around 36%, so still way over 20% and could still make £100k without the new fee. I hope that old page gets put back up at some time so I know where I am at.

[@dansmith7013]

What about if someone has lost a million pounds over the lifetime of their account and then goes on to win 100k in the next 12 month Rolling period?

[@SoSurreal-f9p]

They'll just have to be happy they're now making a few quid. Too many accounts were hitting 250K and disappearing now they will disappear at 100K

[@WonkDaWillyDaHonk]

To all comment readers, you will never pay the new fee, cus you'll never make more than £25k trading sports on betfair.

[@aaa-ky5ds]

Want a bet mate? Bet you £1000 and winnings paid to my paypal account.

[@peterpeter8217]

Lol because u cant others can. I'm a full time sports bettor and make way more then that, but i do it via an broker so i dont pay premium charges anyway.

[@stevemariner5980]

Can I get my premium charge payments back… 😢

[@jimy2x]

The exchange must be in decline for this to happen. Hopefully this leads to a resurgence.

[@PaulNicolas888]

The Exchange itself is thriving due to the amount of white lists to the Asian bookmakers Betfair is on. However I suspect one of those huge players probably had enough of the 60% charges

[@xfoxuk]

Expert fee avoidance video?

[@SilvaLB]

we can thank white labels for this.

[@kolins3733]

Finally 😑😑😑

[@andrewngai7185]

wow big news

[@John-c4x4v]

So a loosing lifetime player finally finds a new winning system and will have to pay 20%+ even though he a lifetime betfair looser?

[@peterpeter8217]

Still criminal greedy behaviour

[@betangeltv]

Since exchanges were born it's become clear that some additional fees are required for higher earners. But this takes a lot of people out of that charging mechanism.

[@peterpeter8217]

@@betangeltv What is the reason additional fees are required for higher earners while they already take 2% of their winnings? Isn't is all about the total liquidity going around on Betfair exchange, whoever wins doesnt matter for them since they get the ( at least ) 2% commission anyway.

[@peterpeter8217]

@@betangeltv Dont know why KZbin deleted my comment. But what is the reason for additional fees that are required for higher earners?

[@betangeltv]

I haven't deleted any comments, KZbin will often mark comments for approval.

[@betangeltv]

Some people win at a prodigous rate, so you need to replace that money back into the system somehow.

[@lukebayshaw1958]

Wow

[@SPINK-HORSERACING-TRADING]

lets see

[@luciananton3900]

First!

[@michaelcorrigan4625]

Rachel Reeves should be listening to this. Give people money and they will spend it.👍

[@themunros1]

Nice to see the positivity in this message. Quite different to Mr Berry, whose take is: "in reality, it changes nothing really" ...bah humbug 😂

[@betangeltv]

It's funny to see somebody who will clearly benefit from this, who has moaned constantly about PC, moan about the changes.

[@kriss1616]

I don't believe it happened