Premium Charge Applied

And so it begins: £260.21 deducted for the Premium Charge at 12:49PM today on a gross profit for the week of £1,749.20 (net £1,260.21 at 4.5%) - so a total commission of 19.375%. Not far short of the 20% they promised!

Now the problem of how to incorporate this into my spreadsheet. Since I like to track my P&L by sport, I should probably pro-rate this per bet, but that will be hard to do. Maybe this problem will be enough for Betfair to make me exempt from the charge? I'll give them a call...

It seems a lot of people misunderstood the allowance of £1,000 that goes against this charge. It started 60 weeks ago, and for many people including myself, was "used up" long ago. How you can use up an allowance that never existed at that time is a bit of a joke.

I was on BETDAQ yesterday for some of my trading. Still lower liquidity than Betfair, but from what I see and read, BETDAQ is picking up all the time, and perhaps that tipping point will soon be reached.