Betfair increase commission on NSW races

[iambic_pentameter]

http://www.brisbanetimes.com.au/sport/h ... ww5gy.html

Posting here to give visibility but mods may wish to post it in Aussie racing?

[iambic_pentameter]

From Betfair:

https://www.betfair.com.au/hub/racing-n ... explained/

[Lutruwita]

Such a shame. With QLD, NT and Victoria moving to a 35% of profit model (I am not sure about Tasmania) in recent years, I hoped WA would be next, followed by NSW once V'landys is put to pasture. What money hungry grubs racing NSW are.

[spreadbetting]

I gave up with the NSW stuff when they brought in the turnover charge just wasn't viable to trade them especially botting. They're just be far too short sighted as there are so many other meetings or other sports for punters to turn to.

[xitian]

I gave up with the NSW stuff when they brought in the turnover charge just wasn't viable to trade them especially botting.

Actually they loosened the restrictions a while back which made it much more realistic. One of the criteria you have to pass before paying the charge is trade more than 1000 turnover markets in the week. I currently target every AUS race and haven't ever hit that limit.

These new NSW restrictions seem more stringent though. I'll probably leave it a week after the new charges come in to see what impact it has. Then might just have to cut back on some specific courses.

What would be handy is if they had a definitive listing of what courses are covered by what charges. Even better, have that information on the API for the event info.

[Naffman]

I gave up with the NSW stuff when they brought in the turnover charge just wasn't viable to trade them especially botting. They're just be far too short sighted as there are so many other meetings or other sports for punters to turn to.

It's not Betfair's fault, its the racing regulators (esp. in NSW) where they value the tote much more than corparates and exchanges. And looking objectively at it you can't blame them, the amount of money they generate of the tote which goes back into prizemoney is far better than over here.

[spreadbetting]

I gave up with the NSW stuff when they brought in the turnover charge just wasn't viable to trade them especially botting.

Actually they loosened the restrictions a while back which made it much more realistic. One of the criteria you have to pass before paying the charge is trade more than 1000 turnover markets in the week. I currently target every AUS race and haven't ever hit that limit.

These new NSW restrictions seem more stringent though. I'll probably leave it a week after the new charges come in to see what impact it has. Then might just have to cut back on some specific courses.

What would be handy is if they had a definitive listing of what courses are covered by what charges. Even better, have that information on the API for the event info.

Thanks , it's really annying the lack of info they provide about the turnover charge and many charges to be fair. Would be good if they included indicators to show the turnover charge markets. I compiled my own but seems it's so out of date and whilst looking just it seems there were changes to the turnover markets back in 2016. I'll have to revisit my bots re:turnover charges now they've changed the limit to 1000 turnover markets a week.

[Naffman]

I remember I got banned a while back, they said I could trade but total liquidity had to be less than 2K AUD, yet somehow people seem to be heavily trading the big meetings (ie The Championships).

[Lutruwita]

I gave up with the NSW stuff when they brought in the turnover charge just wasn't viable to trade them especially botting.

Actually they loosened the restrictions a while back which made it much more realistic. One of the criteria you have to pass before paying the charge is trade more than 1000 turnover markets in the week. I currently target every AUS race and haven't ever hit that limit.

These new NSW restrictions seem more stringent though. I'll probably leave it a week after the new charges come in to see what impact it has. Then might just have to cut back on some specific courses.

What would be handy is if they had a definitive listing of what courses are covered by what charges. Even better, have that information on the API for the event info.

I am not allowed in NSW/WA, regardless of what the website says.

[Lutruwita]

I remember I got banned a while back, they said I could trade but total liquidity had to be less than 2K AUD, yet somehow people seem to be heavily trading the big meetings (ie The Championships).

Yes, I don't understand. Betfair are getting charged 3% on turnover, so they'd be losing quite heavily. I am not sure why they don't just walk away from NSW.

[gazuty]

It is interesting to look at the markets after these kinds of events and see if there is any impact. Often it is hard to detect (in my anecdotal experience).

[Naffman]

If NSW were Betfair friendly again I would no doubt come back! Except as long as V'landys is in charge I can't see that happening and even after he's gone I can't see it changing.

[Euler]

Curiously, I've received no notification from Betfair either directly or through my accounts.

[xitian]

Me neither!

[Naffman]

The TAB (tote) pay 7 cents for every $1, BF pays 1.5 cents per $1, not really a hard decision tbf! We've seen the state of racing in this country where a country galloper at flipping Warracknabeal can earn more than a class 3 horse!

Prizemoney at Bathurst last night was £95K vs £35K at Bath tonight.