The Dark Truth Behind Betfair's Secret Charge

[@pdawgbetscasually1885]

God job dude. Betfair wont hold the monopoly forever. I saw in canada a company called STX offering exchange since betfair left in 2016. The biz model is interesting and it can last. It justa need less negative publicity from the press. Also, have you been watching the pre season games? Chelsea looks good…

[@michaelbarry5869]

why is there not competition to betfair

[@kopthelotklopp1523]

As a trader in the industry I can say bookmakers dont make 4 percent on every race or football match. They'll usually have big liabilities on one outcome or another but as long as they lay at the right prices they'll win in the long run. Most big firms won't lay off their liabilities either.

[@timz2917]

why do I pay 5% on betfair?

[@ionparaschiv2052]

Probably you are not in UK. Different countries, different basic commission rates.

[@UnderwaterFishFilms]

genuine question then, why not just make new account in my friends or families name and give them money for it? i dont see any problem because they cant see whos playing irl?

[@Bruno-gj5vn]

Kie, your content is in another level man. Keep up the good work and Thanks!

[@KieMillett]

Thank you very much!

[@Mightyflynn77]

Why are smarkets not an option? Lower liquidity?

[@richardtodd5184]

My question. I get 0% commission on Smarkets. Surely that's a better option.

[@_RACEHORSES_]

60% tax what a con Bet Fair trully is , just another internet con.

[@zalibecquerel3463]

Greetings from Australia, with a 7% betfair commission on all racing products, 5% on Football, and 10% on Rugby League and some horse racing markets. With no "commission discounts" for those with high turnover. That said, those rates are forced onto betfair by the governing bodies of sports... who also have a lot of political influence. The 10% commissions can be blamed solely on one person, Peter V'landys.

[@pauldennis1670]

Hi Kie, thanks for taking the time to make the video. Can I please ask do you do this full time? If so what’s your plan going forward if the premium charge makes it worse value than betting with the bookies? Also do you think the upcoming affordability laws will kill it for the pros? Thanks.

[@footballoracletrader]

I think i can help with that. As he said, the bookies will limit any winning bettor. So if you are profitable and you consistently make money, you will still use betfair because even though they'll charge you more, at least they won't limit you. 😊

[@petergibbs1683]

You didnt understand, if you are successful through the bookies you will ne nammed. & traders cant use the bookies as they both back & lay & at the bookies you can only back. Its the bookie who does the lays.

[@lurifixen0]

Great video! Do you know how the yearly comparison for traded volume on football markets looks like on Betfair? Can't seem to find anything myself

[@mrpatel4873]

Plenty of people selling losing accounts I got one last year 60k down 🥳

[@Motivation-qn5ss]

Hiya Nice vid , I'm not at that level but surely the premium fee can be off set to the taxes as an expense if your earning that amount of money?

[@johnristheanswer]

No one seems to know the true number of PC payers. How many people have actually made £250k profit ?

[@tiffisfine1665]

At what level of lifetime profit did your premium charge kick in? From your screen shot around £5k?

[@Kasi8999]

I'm happy to pay 20% as I don't have to pay tax on 2nd this income. If you look at the isa account, you have to pay the dealing cost, which is around 10-30% . But if my betfair tax goes to 60%, then im out of it.

[@multanified1860]

How much is premium charge in simple words

[@Kasi8999]

@@multanified1860 20%

[@timporter4008]

Do you pay the premium charge paying 20% could deal with but once you get to 40% or 60% that will not be much fun though in saying that if you paying that high rate you must be making a lot

[@petaryanakiev7066]

I think Betdaq doesn't have premium charge and liquidity is not that bad

[@darshakfaria1938]

Excellent content.

[@arthurbarneys7249]

Great video as always Kie. Just checked that tab and I have that premium tab too. Though I must admit my allowance is still £1000. Just playing devils advocate but maybe betfair put that tab there because the details were previously buried in small print and they realise people have realised that, and big players can afford legal help to make that bad practice a realization for betfair. Just thinking out loud.

[@potblack7951]

Excellent Kie!…hope this video has some effect somewhere!👊

[@stevemarchant3670]

Is it a £1000 a week allowance or £1,000 lifetime allowance before the 20% premium charge kicks in?

[@ionparaschiv2052]

£1000 lifetime allowance

[@adamarmstrong1487]

try orbit exchange with a broker, better liquidity too

[@GNMbg]

better liquidity means they putting their own money in the market and will kick you out eventually, I use BetInAsia where the market for Orbit is the same as the original Betfair... stay away from AsianConnect if you are a winner

[@adamarmstrong1487]

the extra orbit liquidity isnt broker money no, its betfair liquid + player money from likes of asia where betfair is restricted. Used to use asian connect before they stopped accepting uk players, drinbet the broker i use currently @@GNMbg

[@econrith]

ok Looks like I have to go with any other platform

[@chollis380]

1st band premium charge works out more than 20% since the Betfair parasites sneakily charge implied commission, so eg if you are on 5% and pay PC you actually end up paying 22.5% on your winnings

[@winningsportsbettingadvice]

Implied commission offsets the premium charge so I would love to see a worked example explaining how you end up paying more ?

[@MrMediterrano]

BetFair is forcing prople to gnoming

[@simonegiberti7680]

Hi but isn't 5% the commission that Betfair or Betflag apply?

[@temp911Luke]

Its 2% everywhere now. On bf you just need to change your plan.

[@Capitaodaivi]

Had no idea of this…thanks

[@mattrader]

in Italy by law the commission cannot be more than 10% so no premium 😅

[@uwotm8]

Please could you send me a link to this as I can't find it on Google

[@neilratcliffe6814]

Great work as usual Kie. look forward to your next video buddy 👍

[@billsamuls7620]

BE BETTER TO CHARGE 2 AND HALF PC UNDER 60 POUNDS AND 6PC 120 POUNDS AND OVER

[@stevekent3991]

The real truth in my eyes is that I prefer to pay extra if it helps Betfair keep it’s Exchange platform maintained, developed and profitable. It’s a great product, a modern day cash machine.

[@antskilu1354]

heh if ht 0.5 is 1.20 at start and at 20 min. evens then where is this 104% ? also u can change ur name ,country ,gender ,family D-size etc. if u are so in profit

[@FlameFlickers]

You've made quite a few mistakes in only two sentences - it's almost impressive 😂 Firstly, you're comparing odds at two different stages of a match so of course they'll be different. Odds of 1.2 Ov0.5 at kick off would be the odds of a goal being scored in the entire first half and odds of 2.0 after 20 minutes had been played would be the odds of a goal in the remaining 25+ mins of the first half. They're two completely different scenarios so of course the odds are different. The 104% book with a 4% overround he referred to was related to the Bet365 odds example at the start of the video. When he converted odds available for the 3 possible outcomes to percentages, they totaled 104% whereas, on Betfair, the same market would have had close to a 100% book. The 4% difference is how bookies make their profit and why an exchange is always better value than a bookie.

[@antskilu1354]

@@FlameFlickers ok

[@TheChurlishBoor]

@@antskilu1354 Using a fake passport whilst also remaining in the UK will likely bring the law on top on you. If you are abroad, are you going to trust someone in the UK to place your back and lay orders for you in milliseconds of your decisions? Maybe you are thinking about using a VPN? With Betfair..? Go on. Try it. See what happens to your credit account access. Paddy Power (Betfair's owners) were not born yesterday, you know.

[@winningsportsbettingadvice]

I’m sorry to say as someone who actually has made over $250k profit on Betfair that this video is highly biased against the premium charge without actually understanding why it’s there. It’s also scare mongering as very few people have a strike rate high enough where their losing bet commission does not offset the charge. Most people pay much more than 20% commission on their profits just by including the implied commission on their losers. Also once you get up to the 40% level you don’t pay the premium charge in the way you think and there is a lot of things Betfair does to offset the charge. Without going into it , hitting 40% premium charge actually made it easier to make a profit on Betfair, not harder. Feel free to reach out to me to understand it from someone who actually pays the charge.

[@OllieWWillie]

I know you said 'without getting into it' but I'd love it if you did get into it. I've started my journey and am going well early and want to know if the juice is going to be worth the squeeze. Thanks and happy to chat offline if it's better.

[@chollis380]

Absolute Rubbish , so you think getting less than 4/5 for a Even money shot is good value😂😂

[@winningsportsbettingadvice]

@@chollis380 That’s not how it works. Thinking PC changes the odds is complete nonsense.

[@antagonistic9009]

I would have to disagree with nearly everything you have stated in your post, Kie's video is very accurate and honest about the premium charge, and I would say he has good reason to be biased against it, especially the way it is hidden. As great as Betfair was when it was introduced it has always been a flawed system, allowing people to both bet and lay will enable a high number of users to win consistently and remove money / wage from the exchange, obviously the perfect scenario for Betfair would be that everything that got deposited into the exchange went backwards and forwards between each punter and only get removed from the exchange through Belfair's 5% commission charge. In that respect I can understand Belfair's need for the charge and think that many premium charge players obviously would rather not pay it but think 20% is maybe fair enough, and Kie implies that as well. I would even go as far as to say 40% although pretty steep could be acceptable if Betfair was using the money to encourage more people to the exchange as they stated when the charge was introduced, but the 60% is just greed. Maybe the way it was introduced in 2008 showed what was likely to come, an email a fortnight or so before the introduction telling you your commission was changing and explaining the 250 markets and 1k allowance etc, only to find you had used up your allowance years prior, that one thing I believe alienated more people than just about anything else. Kie is not scare mongering, depending on your betting / trading style you could reach the premium charge fairly quickly, most of the people I see defending the premium charge in the way you have seem to have KZbin channels, run courses or other interests and would prefer as little as possible to be known about the charges. Looking at your channel I see you place a very high number of automated bets, that may well reduce your commission, but that is not the way most people play or want to play the exchanges. Now the points I am most curious about in your post, the 3rd and 4th paragraphs, firstly I would say that once you get to the top level you do pay the premium charge in exactly the way you would think, and am struggling to see how Betfair help to offset the charge unless you are talking about the exchange player placing thousands of extra bets to offset the charge? But the one I really would like to hear about is how "hitting the 40% charge actually made it easier to make a profit on Betfair, not harder"?

[@deletebilderberg]

‘Reach out’ What the heck does that mean?