Wednesday, 28 January 2009

I Don't Like Wednesdays


The Betfair Premium Charge is going from bad to worse. 

Having been hit by a charge in the £400s for the past two weeks, today I was hit by one over £730, which amounts to a whopping 21.2% of my NET profits for the week, not gross - they are taking regular commission plus this bastard Premium Charge. I thought this charge was supposed to max out at 20%?

Anyone got any clever ideas of how to get around this? Other than trying to lose more!

And I really hate that you can have a big win on a Monday, and not know until 9 days later how much you really made. But still no viable alternative, so on we go. Mumbling and grumbling.

7 comments:

Anonymous said...

Ring Betfair and ask to talk to Tony Clare the man behind this scumbag tax and ask him how he can justify this daylight robbery!

Anonymous said...

Cassini, I thought you were more of a value inplay bettor then trader (which would be implied by a regular PC contribution). Or have you had a high number of winners over the relative time period?

Apologies for being nosey, Im just surprised that you are getting hit by it (or at least to this extent.)

JPG

Cassini said...

JPG - I mostly bet in-play, but as a trader. When the value is to trade out of a position, I do. I seldom take a position and let it expire. I added a new column to my spreadsheet to track my 60 week record, and the problem is exacerbated by the fact that last January was by far my best month, and this month is currently my second best month all-time, so my 60 weeks is currently book-ended by two profitable periods.

Anonymous said...

Ah, I see, thanks for the reply. Your right, you'll be getting hit hard by last Jan's figures if they were profitable for you. You want as many of your winning weeks to come off as possible.

I take it you're the big hitter laying huge amounts on NBA teams in the circa 1.03-1.09 range then?!?!

JPG

Cassini said...

JPG - let's just say that laying those kinds of odds in the NBA can be very lucrative. Take last Wednesday, Lakers / Bobcats in OT, Lakers on a run up by 6 - still a lot of time. Someone backed Lakers at 1.01. Value? I don't think so. After a second OT Lakers went on to lose in fact, but I'd greened up long ago. Good luck.

John said...

I just got a $200 premium charge for a week which I lost $300. Havent gotten an answer about it yet.

Cassini said...

That's a new twist!