Betfair loses race fields legislation case

[spreadbetting]

Yes, you have to meet all three criteria to start being charged. But I wouldn't be suprised if you got a call from Betfair if you started costing them too much money despite what their rules state.

[Galilee66]

Just a thought - does this mean that every back bet included in a scratch trade would count toward the charge?

G66

[Euler]

Yes, if you scratch a trade then the back bet attracts the charge.

[rubysglory]

Spoke to Betfair today.

New Turnover Charge is 'in addition to' the recent increase in the Base Rate to 6.5%.

rg

[mugsgame]

Spoke to Betfair today.

New Turnover Charge is 'in addition to' the recent increase in the Base Rate to 6.5%.

rg

What a suprise

[gazuty]

Base rate is 6.25% right?

[rubysglory]

Hi Gazuty. Base Rate between 2.60% and 6.50% on Australian and NZ racing less any discounts due as normal. Furthermore, from what I understand the Turnover Charge is applied as a Levy and is not subject to discounts that may otherwise be payable.

rg

[jmcole]

The CEO of Betfair Australasia was interviewed on Radio Sports National last week, discussing Betfair in Australia 5 months on from the High Court Decision.
Interview can be heard at

http://www.rsn.net.au/downloads

To listen, select the podcast for Thursday 23rd August under Racing Ahead.

[Euler]

Interesting interview, thanks.

[Euler]

Direct link: -

http://www.rsn.net.au/audioplayer/13456 ... 230812.mp3

[mugsgame]

A couple of things jumped out.
1) When he mentions how "loyal" Betfairs' customers are. What he was really saying is "we have a monopoly with our product and we can charge what we like. There are some morons even paying us 60% back of their winnings hahaha"

2) He mentions the dedicated department that "liases" with the larger customers.
That would be the Premium Charge department then.

[rubysglory]

I found it interesting how those customers referred to as being highly 'price sensitive' was exampled as the type of customers that have been lost to not only Betfair but the whole racing industry. To me this is just another example of how racing administrators globally have generally little understanding of the inverse concept of commission and turnover.

rg

[Euler]

Been busy tracking traded volumes on the Aussie markets since the changes. Have to say, I've seen very little difference in the markets. Not sure what that means?

[mbeebee]

A couple of things jumped out.
1) When he mentions how "loyal" Betfairs' customers are. What he was really saying is "we have a monopoly with our product and we can charge what we like. There are some morons even paying us 60% back of their winnings hahaha"

2) He mentions the dedicated department that "liases" with the larger customers.
That would be the Premium Charge department then.

absolutely first class observation ...

[rubysglory]

Been busy tracking traded volumes on the Aussie markets since the changes. Have to say, I've seen very little difference in the markets. Not sure what that means?

Unable to provide actual data but the weaker class midweek races appear somewhat illiquid compared to that which existed prior to the changes. Although historically markets are generally weaker at this time of year as we enter Spring and there is a lot of unknown form with horses returning from a long winter break, I feel that although the volumes are only marginally down the 'packets' of money wagered is significantly smaller.

rg