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Thread: Percentage of profitable Betfair users

  1. #1
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    Default Percentage of profitable Betfair users

    The vast majority of people attempting to trade on Betfair will not make a profit.

    The text below is taken from Betfair.com and was highlighted by me to show the point I am making:

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

    Premium Charges
    The Premium Charge only applies in respect of bets placed on the Betfair Exchange and it does not apply to any bets placed on other Betfair products.

    In addition to the other charges detailed above, a small number (less than 0.5%) of our most successful customers will incur Premium Charges.

    Any customer affected by the Premium Charge will be notified in advance.

    Calculating Potential Charges
    Each week Betfair will calculate your ‘gross profits’* made, and your ‘total charges’** generated over the lifetime of your account. The details of these calculations are explained below.

    You’ll only be considered for the Premium Charge if your account is in profit and only if the total charges generated since joining Betfair are less than 20%† of your gross profits.

    The vast majority of customers, and even the majority of those whose betting on Betfair is profitable since they joined, do not meet both these conditions and will not incur the Premium Charge.


    While those conditions accurately describe our most successful customers, they might also apply to new customers who have only bet in a few markets, or those whose accounts are in profit because of a significant big win. To ensure that those accounts are not inadvertently charged, we’ve added two further conditions: any single win that constitutes more than 50% of lifetime gross profits will be excluded from the calculation, and customers will only be considered for the Premium Charge after they have bet in more than 250 markets.


    †Premium Charges at higher rates
    Higher rates of Premium Charge will apply to the very small number of customers (less than 0.1%) that satisfy the following conditions over the lifetime of their account:

    Lifetime net profits*** exceed £250,000
    Commission generated less than 40% of lifetime gross profits
    Bet in more than 1,000 markets






    If you think you're going to be one of the tiny minority who does make a profit trading Betfair, you're probably delusional. Think about that long and hard before you spend any money trying to trade for a profit.

  2. #2
    Forum Guru lcredd's Avatar
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    If I can do it anyone can!

    Start small; win/lose 10p a race and increase stakes as you grow more confident.
    You CAN minimize your losses and you CAN win a lot of money.

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    Quote Originally Posted by lcredd View Post
    If I can do it anyone can!

    Start small; win/lose 10p a race and increase stakes as you grow more confident.
    You CAN minimize your losses and you CAN win a lot of money.
    In reality for the vast majority of people, that's simply not true. Most will never turn a profit, never mind be able to make a living from Betfair trading.

  4. #4
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    More than 99.9% of Betfair users will never make enough money to pay the 60% premium charge which is for users who are in more than 250 grand profit.
    Let that sink in. LESS THAN 1 in 1000 people will ever be able to make 250 grand profit from Betfair.

    It could be a lot less than that but Betfair probably don't want to openly admit it and lose customers who think that one day they will make money. It's a dream. It just won't happen. The chances of making a living from Betfair are virtually nothing.

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