Betfair points

[andyp]

Please can somebody explain the betfair points system to me? As i understand it, the more bets you place the more points you get resulting in less commission on any of your winnings.

However, when i look at my statement it shows quite frequently 'betfair weekly decay' which deducts a large amount of my points! :anger Just wondering why this was?

[mathare]

Right - you get a point for every 10p in actual commission and every 10p in implied commission, calculated on the net market profit.

If you win £10 on a market and have a comm rate of 5% you'll pay 50p in commission and get 5 points. Lose £20 on a market and you'll pay no commission but get 10 points as you have an implied commission of £1.

Betfair tots your points up as you go along. The more you bet, the more you win and lose and the more points you have. When you reach certain milestones your discount rate goes up and your actual commission rate goes down.

Every week, on a Sunday, Betfair deduct 15% of your commission points as a weekly decay. If they didn't do this then eventually everyone would reach the lowest commission rate through gradually accruing points. This way only the punters with the top turnovers have the lowest rates.

If you bet at the same levels each week your points will stay roughly constant.

You can use Betfair holidays (which you earn 1 of every 3 months and can hold a maximum of 4) to avoid the weekly decay when you know you will be away (or not betting much) but using these means you don't earn any points as well as not losing any for that week.

[andyp]

Cheers mat, the fountain of knowledge as ever! :spinning

[vegyjones]

Or in laymans terms

Points mean Prizes!!!!

[mathare]

Cheers mat, the fountain of knowledge as ever! :spinningJust paraphrasing off the top of my head exactly what the Betfair help would have told you :)

[vegyjones]

Just paraphrasing off the top of my head exactly what the Betfair help would have told you :)
Yes, no rep for the cut and paste job please! :laugh

[andyp]

Or in laymans terms

Points mean Prizes!!!!

The Arsenal goalkeeper? :doh

[andyp]

Yes, no rep for the cut and paste job please! :laugh

Fair point, i think a neg rep should even it out for Mat! :D

[mathare]

Yes, no rep for the cut and paste job please! :laughI said I was paraphrasing - that's not cut and paste ;fire

[andyp]

Ok, ok, more positive rep on the way to even out the last error.. that vegy caused!! :D

[Win2Win]

...and give Vegy some neg for starting it in the first place :D

[vegyjones]

I said I was paraphrasing - that's not cut and paste ;fire
You say tomato I say tomato!! :doh

Doesn't quite work when written down! Ooo