I was looking at the Betfair Forum regarding the Premium Charges, and a user called 'armida' explains it in such way that I got all excited and had to put it somewhere or tell someone!
SEPTEMBER 2001
Joe Punter: Twenty tenners please.
Betfair Bob: You would be better off putting that on Betfair rather than this betting shop, It could be as much as 40 on there, less 5% comm, gives you over 37/1.
Joe Punter: Really? I will have a look at that.
SEPTEMBER 2008
Joe Punter: Twenty tenners please.
Betfair Bob: You would be better off putting that on Betfair, it could be as much as 40 on there, less your commission, which is your net winnings multiplied by the Market Base Rate, after your Discount Rate is converted from your Betfair Points Total, and applied to the Market Base Rate, unless of course, you have taken a Betfair Holiday, when your Betfair Points will not be credited, so your Discount Rate will remain the same, but you won't be subject to a 15% decay in your Points Total at the end of the week. However, if you win you may qualify for the Premium Charge of up to 22.5% which is dependant on your forthcoming weekly profit in relation to the commission payable for that week or on a rolling 60 week average, which is when your commission and implied commission is calculated and divided by two, which is OK because it can be offset against the £1000 Premium Charge allowance, and at the end of the week you find out what price you got.
Joe Punter: Twenty tenners please.
Let me tell you, It really did make me chuckle :) Ha Ha
Another thing I just wanted to mention was a couple of websites that I have come across recently which are worth a visit. I remember when I first started betting and was very naive in thinking that this was an easy way to make money. I really can't remember how much money I've spent on rubbish e-books and systems that promise riches but deliver a bucket load of rags instead! The first one is http://www.onlinebettingexposed.com/. It's run by Paul & Craig, and they seem to spend their own money testing various systems and ebooks to highlight scams and more importantly point out systems that seem to work. Even though the testing is only done for a period of 1 month, I genuinely feel that the forum on the site is invaluable in that other people post their comments regarding systems and progress and you can easily see which systems are doing well over a longer term.
If you are into following tipsters, then a visit to http://www.moneymakerreview.com/ is recommended. I have been a member for a good while now, and it used to be called The Secret Betting Club. It's run by two chaps called Mike & Dan who are professional gamblers. They review tipsters and follow them with their own money over a considerable period of time, i.e. 12 months plus. They issue a monthly newsletter that review lots of services, including profit and loss at SP, Advised Prices, Betfair Prices etc, Level of Customer Service, Proofing results etc. They have their own forum which is worth it. It is a very friendly place and there is always someone offering advice if needed.
By the way, I'm not 'selling' the above websites so that I can make some money from it. and nor am I an affiliate type person. I genuinely feel that for people that are into buying systems or following tipsters then they are both a very good starting point. If, however you are good and confident in your own ability or despise paying for this sort of thing then that's fine too. That's me done for now, I think it's an early night tonight :(
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