Wednesday 10 September 2008

BETDAQ v Betfair

BETDAQ have replied to my e-mail requesting details of their commission and offered a flat 2% until 2009. No word on what happens after that, but I am going to pull out some funds from Betfair and take advantage of this offer. 

They did also express surprise at Betfair's move, which I'm sure met with some disbelief from BETDAQ's executives. They must be rubbing their hands in glee at this change in fortune.

I have written to Betfair to complain about this swingeing tax, but I doubt that I shall receive a personal reply.

Should an Exchange even care who the winners are? Just a thought. Personally I'm fine with the winners paying all the commission, but 20% is just wrong. 5% seemed fair and reasonable.

I did also point out that there is currently no credit given for the balance I keep, which typically is between £15k and £30k. Very disappointing.

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