[mixed up]

Originally Posted by pakalasa

I've just read through this thread. One thing I'm baffled by, why are people talking about gambling at the bookies when they can get higher odds on Betfair and the like.
Surely, one of the golden rules of gambling is to get the highest odds, you possible can.

I only usually use betfair to lay a horse i rather back horse wit (BOG) incase the horse drifts and if they reverse the decision i'll still get paid in the bookies.I just think im better off with (BOG) as i don't think the price is much better than the bookies unless i'm backing a real outsider

[CiaranC]

Originally Posted by pakalasa

I've just read through this thread. One thing I'm baffled by, why are people talking about gambling at the bookies when they can get higher odds on Betfair and the like.

This isnt really true any more.

BF arent even close to best price on any fav at kempton tonight for example. Thats before you take out the 5% commission.

[premierstone]

Originally Posted by pakalasa

I've just read through this thread. One thing I'm baffled by, why are people talking about gambling at the bookies when they can get higher odds on Betfair and the like.
Surely, one of the golden rules of gambling is to get the highest odds, you possible can.

Originally Posted by mixed up

I only usually use betfair to lay a horse i rather back horse wit (BOG) incase the horse drifts and if they reverse the decision i'll still get paid in the bookies.I just think im better off with (BOG) as i don't think the price is much better than the bookies unless i'm backing a real outsider

Originally Posted by CiaranC

This isnt really true any more.

BF arent even close to best price on any fav at kempton tonight for example. Thats before you take out the 5% commission.

Depends what your betting on really, for many sports there is absolutely no liquidity in the market and alot of the time the as Ciaran says the % difference in price is offset by the commission (5% is a little off as it drops based on your activity).

All that said I would never have a golf bet with a high street bookies the prices on BF for golf are soooo much better its crazy.

[J-Fit]

Betfair are gradually morphing into a bookmaker and are rumoured to be closing some accounts now due to premium charge avoidance. What people don't realise is that if you start to make really good money on Betfair, you will be asked to pay 22% commission (on average). If you begin to make really, really good money, that will rise to 40-60% of your overall profits. Still, short of Betdaq ever waking up, it's still the best way of making money via gambling (trading IS gambling!), and I suppose the premium charges are no different to income tax if you are in at that level of profitability.

[digme]

Originally Posted by J-Fit

Betfair are gradually morphing into a bookmaker and are rumoured to be closing some accounts now due to premium charge avoidance. What people don't realise is that if you start to make really good money on Betfair, you will be asked to pay 22% commission (on average). If you begin to make really, really good money, that will rise to 40-60% of your overall profits. Still, short of Betdaq ever waking up, it's still the best way of making money via gambling (trading IS gambling!), and I suppose the premium charges are no different to income tax if you are in at that level of profitability.

Have you any articles? I've not heard anything about this.

[J-Fit]

Originally Posted by digme

Have you any articles? I've not heard anything about this.

http://www.guardian.co.uk/sport/2011...harge-increase

No prob, here you go.

It never ceases to amaze me how little people actually know about these charges and the reason is simple: Betfair said barely anything about it when they announced it. They only posted it on their website in the announcement section and only in English. The 22% charge has been in since 2008. The 60% one was introduced around 6 weeks ago and affect a hell of a lot more people than Betfair are letting on.

[TiltedBrain]

60%

[TiltedBrain]

Originally Posted by J-Fit

http://www.guardian.co.uk/sport/2011...harge-increase

No prob, here you go.

It never ceases to amaze me how little people actually know about these charges and the reason is simple: Betfair said barely anything about it when they announced it. They only posted it on their website in the announcement section and only in English. The 22% charge has been in since 2008. The 60% one was introduced around 6 weeks ago and affect a hell of a lot more people than Betfair are letting on.

Interesting article.......

Never really thought about punters at live events while online having an edge.

[pakalasa]

Originally Posted by J-Fit

http://www.guardian.co.uk/sport/2011...harge-increase

Very clever marketing, don't you think?
That's all it is.

[J-Fit]

Originally Posted by pakalasa

Very clever marketing, don't you think?
That's all it is.

What? How? There's people that make their living of sports trading. Do you think they see it merely as marketing?

[pakalasa]

Originally Posted by TiltedBrain

Never really thought about punters at live events while online having an edge.

They're the guys you see on the roofs looking at games with a labtop in their hands.

[J-Fit]

Originally Posted by pakalasa

They're the guys you see on the roofs looking at games with a labtop in their hands.

Not sure what exactly you mean by that but it's untrue either way.

[pakalasa]

Have a read of this. Where does it say that you pay a 60% tax.

Max of 60% DISCOUNT RATE on the comision rate alright.

http://www.betfair.com/aboutUs/Betfair.Charges/

[pakalasa]

Originally Posted by J-Fit

Not sure what exactly you mean by that but it's untrue either way.

I've seen them at big GAA matches. If a goal is scored for example, they try and get a bet in before anyone else has time to react on-line. Say if a goal is scored in the last few mins of a very tight game. Makes sense to me.

[pakalasa]

Originally Posted by J-Fit

What? How? There's people that make their living of sports trading. Do you think they see it merely as marketing?

Marketing on the part of Betfair - as in you too can earn over €250k from just trading. Why would Betfair charge a levy of 60% on winnings. A sure way to kill teeh golden goose. They make money on turnover. They don't care if ait all goes to a very select few.