On the plus side....At least they have spent all those 10's of millions of premium charge profits on ensuring that the exchange runs smoothly and never goes down. Oh no wait...Hang on!
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I remember the day it was announced... Forum meltdown is an understatement. Personally, it was a sad day as even if you took BF at face value, it meant there was a gap in the original business model. When they released the sportsbook 4 years later, it was the nail in the coffin for the dream of what it could have been. A new exchange is possible (maybe just focus on one sport at first) but would need market makers/seed money for all markets for a while. Still not sure what the best comission structure for it would be though
It's actually more than the headline rates, e.g. you pay 22.5% not 20% of gross profit due to how they calculate implied commission. Worth highlighting.
Me again! Just re-visited this great video - Love you Caan XXX (LOL) This 'Premium Charge' is a bit like the Handicap method used in Golf. The Better you get - the more they penalise you! LOL ;-)
Ha ha " they went in without the lube "...I don't remember your videos being funny in yesteryear ? Brilliant. That was multi-informative . I always assumed that Betfair would have looked after you personally Caan and kept you on the 5% commission from when you started promoting them from 2014 onwards ? Especially since they approached you.
haha that would be a fine thing. people often assume this sort of thing but the reality is I've never had anything extra off them, didn't even get paid when they featured me in the marketing campaign is successful customer back in 2014.
I had always thought that the days of the old fashioned "Highwayman" were long gone - then you produced this video and I realised that they still exist - even today! "Stand AND deliver!!!" LOL
Serious question. What's stopping you finding close matches between betfair and smarkets (or another bookmaker) and placing strategic bets so that you lose on the betfair exchange? Football id imagine would be the best option and even losing a few quid doing it wouldn't be another near the 40-60% charge. Would that work to keep your overall winnings down and therefore avoiding these charges?
are you serious? it was possible long before it's changes and all betting has had these kind of problems since the very beginning. there's no evidence to say the horse racing is worse or better than any other sport, in fact from market place observation I would say greyhounds is far worse. fixing bets and corruption run parallel to human behaviour, just look at Barney Curley for example, he was doing it in the 80s! if a trainer wants to lay a horse and they don't have the exchanges as an option they can always back all the other horses in the race with inverse proportionality and make sure there's doesn't win. horse successfully laid...
@@CaanBerryProTrader what 😂😂😂 I actually thought you were intelligent Stop talking absolute nonsens So Barney is a cheat now now not a genius? The exchanges have destroyed horseracing Trainers caught on camera saying they lay horses Vets in big yards giving information out so family members can lay the horse It goes on and on
Dude there's no need to be rude or start name calling. Barney made his money by betting on things that only he had knowledge about, the very thing you are complaining about. Genius, cheat, whatever you want to call him depends on opinion. The exchanges haven't destroyed horse racing any more than Google has destroyed looking up information, technology has changed the world, making it better for the end-user, broadly speaking. Of course trainiers lay horses, and bet on them, its part of life. Happens in every industry, always has done and always will do! Throwing out jibes like "i thought you was intelligent" sounds very bitter, a bit like the claim that 5k a week is a lot. It's not :)
@@CaanBerryProTrader I don't understand are the people who win large amounts able to profit lifetime? Or is winning too much at Betfair going to make the account go to zero over time?
@@donaldlyons17 by its definition, you only pay the PR when you are making good profits (as you only have to pay for it when commision isnt already paying it for you) so it will never be able to make you go to 0 or even close to it (given you are profitable to begin with). You can surely make a living from the betfair exchange, unlike any bookmaker, PR is somewhat of a luxus problem, though it still not nice once you get there. Most ppl i know that are making a living from betting dont really complain though, they are happy to make a living off of it.
that's not correct those it you just need to have made £5,000 profit over the lifetime of your account or thereabouts when you consider generated commission, assuming your operating on an efficient basis. I don't know about you but as far as I'm concerned and I'd assume most viewers people are interested in this because they want to make money not replace the existing job with another one that then pays Betfair copious amounts of commission for the hard work they have done. not mention the risk they have taken.
if you're making money from their live casino good on you I wouldn't have thought it's easily possible. as soon as I catch on they'll brand new or steak restrict you instead. just like the sportsbook
pay the 20% as soon as they charge more then create more betfair accounts. if they want to rob you then play the game back at them. thankfully i am not close to having this problem lol. obviously not something people want to broadcast they are doing but its hardly a criminal offense.
Why not earn your dollar before the start of the premium earning more than betfair yourself as Mr Caan Berry. Then introduce the premium charge so no one else can ever replicate and carry on regardless as Mr Caan Berry but under Newfield Ltd
smarkets have their own pro tier charges. They are applied to turnover instead of profit so it's actually worse. They don't start until 25000 profit though.
IS IT 250 K OF WINNINGS FROM BETS , OR YOU HAVE LITERALLY TAKE OUT 250 K OF PURE PROFIT INTO YOUR BANK OVER TIME , WHAT I MEAN IS IF YOU WIN £1000 BUT THEN LOSE £900 A DAY LATER SO YOUR ONLY UP £100 WHAT DOES BETFAIR TAKE INTO ACCOUNT !!!!
I'm close to the 40-60 rate and it's a bit nerve-wracking ... it's hard enough to win for Betfair to do this ... This also happens because in the UK the online gambling tax is 0%. Otherwise it would be impossible.
@@CaanBerryProTrader What I can do? Maybe distribute my bets on other websites. I will do pure trading on betfair and punter trading on other sites ...
@@CaanBerryProTrader to be honest I really can’t think of any easier way to do it than if someone was to multi account on different IPs. But then it doesn’t sound very fun having to look over your shoulder for the premium charge evasion mob. Suppose the key thing to remember is not to solely focus on making an income from the exchanges because at some point the amount you can make is insurmountable, that’s why although I’m young I’m already thinking ahead to other investments and fields to get into to proliferate my sources of income after what I eventually reach in max profits from the exchange.
@@CaanBerryProTrader finding more accounts could be risky. If it's a friend he could take over your funds.and If it's a family member they could on it and suspend his account for cheating.
this is correct although once you've done all the hard work to master it I don't think it's that reasonable that Betfair where should add this premium charge.
Take it if you were asked to speak at another pro trader event you would tell them to ram it? I don't see a lot of pros promoting betfair except Alex? Relaxed account charges maybe?
If they were to answer the serious issues directly then I can consider it (presuming they were paying well too) they've had enough favours off me. I can't speak for anyone else, although the one you mentioned there yeah didn't know about this charge when I met him.
Couldnt you lower the effective % by laying on the exchange then backing on another bookie thus transferring your winnings out of betfair and only loosing the difference in the market prices?
If you could do that consistently why bother? Just back them with the other bookies and don't lose your money on the exchange. Of course that isn't possible!
Caan left out a major point here that actually makes the premium charge a lot more reasonable: it doesnt add up to your commision, but only takes the difference from commision to the 20 (40, 60)%. I am a profitable trader for over a year now (its my only income and i live off of it) and havent paid a single penny in premium charge. This may be the exception, as i had some strategies running that were creating a lot of commision, but still it will never be a flat out 20% (40, 60)% on your winnings. Once you get to those 60%, its very likely commision wont cover it all, but thats a luxus problem because you are already making mad money ;) (not saying the 60% is fair, i think this value may be a little to high, but i still hope i ll get there once as that means i m making quiete the winnings)
hi Aaron, I didn't leave it out it's mentioned in the criteria towards the end of the video. if you aren't paying it yet it's because your charges exceed more than 20% of your lifetime profits, meaning that, and no disrespect when I say this; you're not very efficient. Once you start making good money you will exceed that rate very quickly. take a look at the calculation again :)
@@CaanBerryProTrader I may have missed it. Couldnt find it when skipping through aswell, granted i skipped though very quickly. All i could see is: 1. a picture of the rules which indeed hold that information, but ppl aint gonna stop and read unless maybe you point it out and 2. you saying that commision needs to be below 20%, which still makes it sound like as soon as i m below 20% i have to pay the additional 20% and not fill up to it. Me not being very efficient seems unrelated. I showed my experience with PR to clarify what the diffrence between paying 20-60% PR and filling up to those values can mean in actual practice. Also, i certainly dont mind being un-efficient if that means i dont have to pay PR. Just to put that out here: i m not here to praise PR, certainly i d like it better without them, i just felt like the picture you were showing of PR is missleading to how it actually works.
I do say that in the vid. I'd be concerned if you are generating that kind of generated commission because you are wasting a lot of your time just giving money back to the exchange through inefficiency. also as somebody else pointed out in the comments you don't actually pay 20% overall you pay 22.5% because the way the original generated commission is calculated. That said it's confusing enough for most average viewers so there's no real need to go there, the point is the charges are a joke in their current format and completely contradict what the brand was all about and became famous for.
@@CaanBerryProTrader Can you leave a timestamp to where you explain this in the vid? If that time (its not really time because i m automated) is used to pay commission in order to reduce PR, its not really wasted, just not super efficiently used. Of course i d rather spent my time placing big winner bets, but generally speaking i m taking any bet that has a positive expected value. I m not gonna throw away the small money only because there is potential big money out there, especially when taking the small money doesnt hinder me at all from also taking the big money. Dont get me wrong here, i get your drift and generally support your message with PR being far from amazing, i just got a different picture of the mechanics from watching this video compared to how it pans out in praxis. I think a lot of your viewers shouldnt concern themselves with the 20% premimum charge they may eventually have to pay (or better, fill up to from their paid commision), but rather with getting there.
at 4:38 ish. It's not a case of throwing away small or big money but you should save yourself some time and heartache throwing away the inefficient money. You could of course automate something to turnover money at marginal +EV to increase generated commission and therefore lower premium charge but from what your saying, you aren't doing that. And even if you were, it still has a huge effort cost for formulation and upkeep. the numbers would need to be massive to make it worthwhile. it's not just a case of filling up on generated commission, if only it was... I agree, and as I said in the video, the 20% isn't what the video is about, it's just some ground level info for the viewer so they understand the upper levels. does link in description that explains the charges further. I find it a little bit surprising that somebody that pays these charges is so so keen to defend them. I'd expect that more from Betfair or something, although perhaps not as they know it's undefendable in its current format!
You do your viewers a disservice Caen. You never talk about Asian Bookmakers and the option for UK customers to use them. They offer a white label exchange. If you have mentioned this in a previous video I apologize. I just haven't seen it. I don't think you can trade on them, is this why you don't discuss them or are you afraid of a backlash from the bookmakers you use? Really though you should be discussing and promoting them. It is directly the competition of the Asian bookmakers that offer the only chance of UK based bookmakers to change their ways. If there was an exodus to Asian Bookmakers they would have to take note. I should add. Asian bookmakers and agents do not penalize winners, the whole point of your video.
What a rip off this gets "better" any ones winnings are becoming taxed more than ever in sneaky ways,what anyone wins is there's to keep not get cheated out of a win...exchanges I have noticed are no longer fair,they are just as bad as a bookie,a rip off..
Yes, and in some respects you can't blame them as a company but they've completely doubled back on what they stand for. The concept is great and customer base is what made them grow so fast in a very competitive industry, it's just a shame that that's been forgotten. The founders seem to have been replaced with city bean counters that are only interested in squeezing profit at every opportunity.
@@CaanBerryProTrader Would it be theoretically possible for a "grass roots" group of gamblers to set up their own exchange without any of these supertaxes? Where the maximum commission is always 5%, in order to pay for the upkeep of the exchange, the website, etc.
@@CaanBerryProTrader Betdaq suspended your account? Ok, that's kinda harsh, I remember when you were recommending them. Is there no safe haven for winners anymore without getting screwed?
Well I guess you could earn £250,000 then you would have to cut in a friend or family member u trusted no start an account in their name. If your were of a mi d to do so of course! 😉
If you're earning that kind of money, do you really have the right to moan? Maybe you should work in a rubbish 9 - 5 job at £8 an hour, like the rest of us, and see if you're still moaning.
That's exactly what I was thinking haha so if you're earning just under 250 k a year you don't have to pay the high percentage commission That's just under 5k a week 😂😂
Oh I know how that feels with no qualifications and 8 years military service under my belt. I just chose to do something about it! Working 9 - 5 is nice though, you have lots of leisure time and less responsibility or pressure outside of it in terms of work. Just because somebody earns well it doesn't mean they should be entitled to less does it? what kind of thinking is that?
Yes he has the right to moan if a business he has built up through skill, intelligence and a lot of hard work gets smashed by an unscrupulous 3rd party.
@@CaanBerryProTrader for sure. Absolutely nobody knows unless you hit a big win or consistently get better find out year 5/8/10 where pull 20k a year. Wouldn’t have guessed BF upto this.
On the plus side....At least they have spent all those 10's of millions of premium charge profits on ensuring that the exchange runs smoothly and never goes down. Oh no wait...Hang on!
Exactly my point! Crashes, outages etc are regular.
If you want to beat a bookmaker's odds consistently, check out this video: ruclips.net/video/3cEdjH4TBh4/видео.html
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I remember the day it was announced... Forum meltdown is an understatement. Personally, it was a sad day as even if you took BF at face value, it meant there was a gap in the original business model. When they released the sportsbook 4 years later, it was the nail in the coffin for the dream of what it could have been.
A new exchange is possible (maybe just focus on one sport at first) but would need market makers/seed money for all markets for a while. Still not sure what the best comission structure for it would be though
I do wonder sometimes if the exchange would have continued and replaced the majority of the industry, had they let it.
Well done Caan! Keep calling them out !
nothing wrong with sharing the truth around is there
It's actually more than the headline rates, e.g. you pay 22.5% not 20% of gross profit due to how they calculate implied commission. Worth highlighting.
Me again! Just re-visited this great video - Love you Caan XXX (LOL)
This 'Premium Charge' is a bit like the Handicap method used in Golf. The Better you get - the more they penalise you! LOL ;-)
haha
Ha ha " they went in without the lube "...I don't remember your videos being funny in yesteryear ? Brilliant. That was multi-informative . I always assumed that Betfair would have looked after you personally Caan and kept you on the 5% commission from when you started promoting them from 2014 onwards ? Especially since they approached you.
haha that would be a fine thing. people often assume this sort of thing but the reality is I've never had anything extra off them, didn't even get paid when they featured me in the marketing campaign is successful customer back in 2014.
@@CaanBerryProTrader Hmmmm, I seem to remember that you had a 'bottle' or two from them? lol
I had always thought that the days of the old fashioned "Highwayman" were long gone - then you produced this video and I realised that they still exist - even today! "Stand AND deliver!!!" LOL
Haha stand and deliver, had me chuckling. Hope you're well, George.
@@CaanBerryProTrader I'm fine thanks. I hope all is well your end too? :-)
umm so... if this is bad then what exchange to use? there isnt any?
Hi, are there any instance when the higher rage charge does not kick in even though you have net winnings less commission of over £250K?
Serious question. What's stopping you finding close matches between betfair and smarkets (or another bookmaker) and placing strategic bets so that you lose on the betfair exchange? Football id imagine would be the best option and even losing a few quid doing it wouldn't be another near the 40-60% charge. Would that work to keep your overall winnings down and therefore avoiding these charges?
Good question, shame none of the experts have replied. I don't know much about it myself.
The exchanges should never of been allowed for horse racing purposes but of course , more money Betfair make the more goes back into horse racing
why shouldn't they have been allowed any more or less than other sports
Come on Caan the laying of racehorses has turned the sport of kings into a corrupt mess
are you serious? it was possible long before it's changes and all betting has had these kind of problems since the very beginning. there's no evidence to say the horse racing is worse or better than any other sport, in fact from market place observation I would say greyhounds is far worse. fixing bets and corruption run parallel to human behaviour, just look at Barney Curley for example, he was doing it in the 80s! if a trainer wants to lay a horse and they don't have the exchanges as an option they can always back all the other horses in the race with inverse proportionality and make sure there's doesn't win. horse successfully laid...
@@CaanBerryProTrader what 😂😂😂
I actually thought you were intelligent
Stop talking absolute nonsens
So Barney is a cheat now now not a genius?
The exchanges have destroyed horseracing
Trainers caught on camera saying they lay horses
Vets in big yards giving information out so family members can lay the horse
It goes on and on
Dude there's no need to be rude or start name calling. Barney made his money by betting on things that only he had knowledge about, the very thing you are complaining about. Genius, cheat, whatever you want to call him depends on opinion. The exchanges haven't destroyed horse racing any more than Google has destroyed looking up information, technology has changed the world, making it better for the end-user, broadly speaking. Of course trainiers lay horses, and bet on them, its part of life. Happens in every industry, always has done and always will do! Throwing out jibes like "i thought you was intelligent" sounds very bitter, a bit like the claim that 5k a week is a lot. It's not :)
This is really shocking, and quiet disappointing. I always thought that the exchange was at least fairer than bookies but apparently not
It is, until you start winning a lot.
@@CaanBerryProTrader I don't understand are the people who win large amounts able to profit lifetime? Or is winning too much at Betfair going to make the account go to zero over time?
@@donaldlyons17 by its definition, you only pay the PR when you are making good profits (as you only have to pay for it when commision isnt already paying it for you) so it will never be able to make you go to 0 or even close to it (given you are profitable to begin with). You can surely make a living from the betfair exchange, unlike any bookmaker, PR is somewhat of a luxus problem, though it still not nice once you get there. Most ppl i know that are making a living from betting dont really complain though, they are happy to make a living off of it.
that's not correct those it you just need to have made £5,000 profit over the lifetime of your account or thereabouts when you consider generated commission, assuming your operating on an efficient basis. I don't know about you but as far as I'm concerned and I'd assume most viewers people are interested in this because they want to make money not replace the existing job with another one that then pays Betfair copious amounts of commission for the hard work they have done. not mention the risk they have taken.
Do they charge the rates if you making money from their live casinos as well?
if you're making money from their live casino good on you I wouldn't have thought it's easily possible. as soon as I catch on they'll brand new or steak restrict you instead. just like the sportsbook
There seems to be a gap in the market for someone to come in and offer some competition.
they all seem to have gone the same way with these charges though.
Tax free competition
pay the 20% as soon as they charge more then create more betfair accounts. if they want to rob you then play the game back at them. thankfully i am not close to having this problem lol. obviously not something people want to broadcast they are doing but its hardly a criminal offense.
I would expect some people do that, but like you say, it's likely they would keep it secret.
Why not earn your dollar before the start of the premium earning more than betfair yourself as Mr Caan Berry. Then introduce the premium charge so no one else can ever replicate and carry on regardless as Mr Caan Berry but under Newfield Ltd
I presume you are referencing Mr Ranogajec
Great video love your channel do you reckon they will simply the tax for example a flat rate Instead of the premium charge?
I hope not that would kill everything!
@@CaanBerryProTrader ah ok
Great video great content even tho it's on this subject. Need another platform to be not as greedy and we will come!
thanks Andrew!
Are smarkets the same? Thought they were just 2%
smarkets have their own pro tier charges. They are applied to turnover instead of profit so it's actually worse. They don't start until 25000 profit though.
IS IT 250 K OF WINNINGS FROM BETS , OR YOU HAVE LITERALLY TAKE OUT 250 K OF PURE PROFIT INTO YOUR BANK OVER TIME , WHAT I MEAN IS IF YOU WIN £1000 BUT THEN LOSE £900 A DAY LATER SO YOUR ONLY UP £100 WHAT DOES BETFAIR TAKE INTO ACCOUNT !!!!
yes that's correct his winnings only deposits don't count
I'm close to the 40-60 rate and it's a bit nerve-wracking ... it's hard enough to win for Betfair to do this ... This also happens because in the UK the online gambling tax is 0%. Otherwise it would be impossible.
yes, what do you plan to do when you hit it?
@@CaanBerryProTrader What I can do? Maybe distribute my bets on other websites. I will do pure trading on betfair and punter trading on other sites ...
@@CaanBerryProTrader to be honest I really can’t think of any easier way to do it than if someone was to multi account on different IPs. But then it doesn’t sound very fun having to look over your shoulder for the premium charge evasion mob. Suppose the key thing to remember is not to solely focus on making an income from the exchanges because at some point the amount you can make is insurmountable, that’s why although I’m young I’m already thinking ahead to other investments and fields to get into to proliferate my sources of income after what I eventually reach in max profits from the exchange.
Is there not competition out there now to vote with your fingers and switch to like Matchbook or Smarkets.
They have worse charges (on turnover not profit).
If anyone who gets nearly to the point of "premium charges" wil stop playing and cash out, what they going to do about it?
And or find ways to get more accounts, or so I'm told anyway...
@@CaanBerryProTrader finding more accounts could be risky. If it's a friend he could take over your funds.and If it's a family member they could on it and suspend his account for cheating.
I never won on betfair long term. Taking 5% for me is pure greed
Opt in for the 2% if you're not in the PC club.
@@CaanBerryProTrader I didn't know that thanks. Your videos are brilliant. Really hope you continue to grow. 🥳🥳🙏🙏
caan are affordability checks actually coming in?
Sounds like it, half the firms are running around like headless chickens to prepare. Sad times.
You can set it to take 2% commision if u go to a lower tier on the exchange.
I will never bet on 150 markets horses n football for me.
Pretty much Betfair have built their own tax haven on these British shores by calling it a commission 🇬🇧
One way of putting it I guess.
Are you paying 40%. Surely you've matched the 40% criteria after all this time. Or do they charge you 60% anyway?
You mentioned when you get to £250k there is a £5k allowance, is that every year or a one off 'present' ? TIA
No, its a lifetime allowance. The 5k allowance is at profitable, not 250k. Thats the upper levels.
You have to take controlled loses and be on both sides of the trade before you hit that number.
this is correct although once you've done all the hard work to master it I don't think it's that reasonable that Betfair where should add this premium charge.
Take it if you were asked to speak at another pro trader event you would tell them to ram it?
I don't see a lot of pros promoting betfair except Alex? Relaxed account charges maybe?
If they were to answer the serious issues directly then I can consider it (presuming they were paying well too) they've had enough favours off me. I can't speak for anyone else, although the one you mentioned there yeah didn't know about this charge when I met him.
I had no idea
unfortunately not many do mate
They charge you 60% every week ?? or every month ??
weekly
@@CaanBerryProTrader How to pay less or do not reach this level too quickly ?? I'm starting to make decent money right now.
If you don’t like it withdraw your money and leave .
Learn how to lose Caan and give them all of your money . ❤
Why dont you move to Smarkets ?
because they're charging structure makes it untradeable see the Jason Trost video
Couldnt you lower the effective % by laying on the exchange then backing on another bookie thus transferring your winnings out of betfair and only loosing the difference in the market prices?
and if the bet goes the other way you pay premium charge on your own balance from the bookies...
If you could do that consistently why bother? Just back them with the other bookies and don't lose your money on the exchange. Of course that isn't possible!
Daylight robbery!
Caan left out a major point here that actually makes the premium charge a lot more reasonable: it doesnt add up to your commision, but only takes the difference from commision to the 20 (40, 60)%. I am a profitable trader for over a year now (its my only income and i live off of it) and havent paid a single penny in premium charge. This may be the exception, as i had some strategies running that were creating a lot of commision, but still it will never be a flat out 20% (40, 60)% on your winnings. Once you get to those 60%, its very likely commision wont cover it all, but thats a luxus problem because you are already making mad money ;) (not saying the 60% is fair, i think this value may be a little to high, but i still hope i ll get there once as that means i m making quiete the winnings)
hi Aaron, I didn't leave it out it's mentioned in the criteria towards the end of the video. if you aren't paying it yet it's because your charges exceed more than 20% of your lifetime profits, meaning that, and no disrespect when I say this; you're not very efficient. Once you start making good money you will exceed that rate very quickly. take a look at the calculation again :)
@@CaanBerryProTrader I may have missed it. Couldnt find it when skipping through aswell, granted i skipped though very quickly. All i could see is: 1. a picture of the rules which indeed hold that information, but ppl aint gonna stop and read unless maybe you point it out and 2. you saying that commision needs to be below 20%, which still makes it sound like as soon as i m below 20% i have to pay the additional 20% and not fill up to it. Me not being very efficient seems unrelated. I showed my experience with PR to clarify what the diffrence between paying 20-60% PR and filling up to those values can mean in actual practice. Also, i certainly dont mind being un-efficient if that means i dont have to pay PR. Just to put that out here: i m not here to praise PR, certainly i d like it better without them, i just felt like the picture you were showing of PR is missleading to how it actually works.
I do say that in the vid. I'd be concerned if you are generating that kind of generated commission because you are wasting a lot of your time just giving money back to the exchange through inefficiency. also as somebody else pointed out in the comments you don't actually pay 20% overall you pay 22.5% because the way the original generated commission is calculated. That said it's confusing enough for most average viewers so there's no real need to go there, the point is the charges are a joke in their current format and completely contradict what the brand was all about and became famous for.
@@CaanBerryProTrader Can you leave a timestamp to where you explain this in the vid?
If that time (its not really time because i m automated) is used to pay commission in order to reduce PR, its not really wasted, just not super efficiently used. Of course i d rather spent my time placing big winner bets, but generally speaking i m taking any bet that has a positive expected value. I m not gonna throw away the small money only because there is potential big money out there, especially when taking the small money doesnt hinder me at all from also taking the big money. Dont get me wrong here, i get your drift and generally support your message with PR being far from amazing, i just got a different picture of the mechanics from watching this video compared to how it pans out in praxis. I think a lot of your viewers shouldnt concern themselves with the 20% premimum charge they may eventually have to pay (or better, fill up to from their paid commision), but rather with getting there.
at 4:38 ish. It's not a case of throwing away small or big money but you should save yourself some time and heartache throwing away the inefficient money. You could of course automate something to turnover money at marginal +EV to increase generated commission and therefore lower premium charge but from what your saying, you aren't doing that. And even if you were, it still has a huge effort cost for formulation and upkeep. the numbers would need to be massive to make it worthwhile. it's not just a case of filling up on generated commission, if only it was...
I agree, and as I said in the video, the 20% isn't what the video is about, it's just some ground level info for the viewer so they understand the upper levels. does link in description that explains the charges further.
I find it a little bit surprising that somebody that pays these charges is so so keen to defend them. I'd expect that more from Betfair or something, although perhaps not as they know it's undefendable in its current format!
You do your viewers a disservice Caen. You never talk about Asian Bookmakers and the option for UK customers to use them. They offer a white label exchange. If you have mentioned this in a previous video I apologize. I just haven't seen it. I don't think you can trade on them, is this why you don't discuss them or are you afraid of a backlash from the bookmakers you use? Really though you should be discussing and promoting them. It is directly the competition of the Asian bookmakers that offer the only chance of UK based bookmakers to change their ways. If there was an exodus to Asian Bookmakers they would have to take note. I should add. Asian bookmakers and agents do not penalize winners, the whole point of your video.
Will look to talk about them more.
What a rip off this gets "better" any ones winnings are becoming taxed more than ever in sneaky ways,what anyone wins is there's to keep not get cheated out of a win...exchanges I have noticed are no longer fair,they are just as bad as a bookie,a rip off..
I would argue the bookies a worse but only marginally.
It’s just more greed !
Yes, and in some respects you can't blame them as a company but they've completely doubled back on what they stand for. The concept is great and customer base is what made them grow so fast in a very competitive industry, it's just a shame that that's been forgotten. The founders seem to have been replaced with city bean counters that are only interested in squeezing profit at every opportunity.
@@CaanBerryProTrader Would it be theoretically possible for a "grass roots" group of gamblers to set up their own exchange without any of these supertaxes? Where the maximum commission is always 5%, in order to pay for the upkeep of the exchange, the website, etc.
and there like to suspended customers as they did with you
That was Betdaq, not Betfair. And of course bookies of all varieties.
@@CaanBerryProTrader Betdaq suspended your account? Ok, that's kinda harsh, I remember when you were recommending them. Is there no safe haven for winners anymore without getting screwed?
Johny bruh
sins? lol
i bet on 250 markets every week😆
Lifetime...
@@CaanBerryProTrader over 7,000
Well I guess you could earn £250,000 then you would have to cut in a friend or family member u trusted no start an account in their name. If your were of a mi d to do so of course! 😉
Betfair do have a team that look for people who are evading the charge like this.
@@CaanBerryProTrader Is Smarkets any good as an alternative to Betfair?
It's not secret - it's spelled our clearly in their terms and well publicised 🤦♂️🤦♂️🤦♂️🤡🤡🤡 Click bait video acting all butt hurt
When trump is reinstated I want my winnings betfair
I don't think he's going to be now is he... ?
How to win
Winners not welcome. Nothing new.. When you get over this Caan? Move to finacial markets or something and be the next Warren Buffet already. Haha
Looks like a whole new playing field. I'll never come close to WB's interlect.
@@CaanBerryProTrader interlect - that answer says it all !
@@johnbowling4269 It certainly says something. I mean, if spelling was important, then English teachers wouldn't be so broke :D
If you're earning that kind of money, do you really have the right to moan? Maybe you should work in a rubbish 9 - 5 job at £8 an hour, like the rest of us, and see if you're still moaning.
That's exactly what I was thinking haha so if you're earning just under 250 k a year you don't have to pay the high percentage commission
That's just under 5k a week 😂😂
Oh I know how that feels with no qualifications and 8 years military service under my belt. I just chose to do something about it! Working 9 - 5 is nice though, you have lots of leisure time and less responsibility or pressure outside of it in terms of work. Just because somebody earns well it doesn't mean they should be entitled to less does it? what kind of thinking is that?
You didn't listen close enough - LIFETIME, not per year. Also, 5k a week isn't that much!
@@CaanBerryProTrader ah I see , over the lifetime
5k a week isn't much?
Yes he has the right to moan if a business he has built up through skill, intelligence and a lot of hard work gets smashed by an unscrupulous 3rd party.
Caveats. Rules. Quite unreal. You’d not know until you’re hit
yeah that's why I thought I would make the video.
@@CaanBerryProTrader for sure. Absolutely nobody knows unless you hit a big win or consistently get better find out year 5/8/10 where pull 20k a year. Wouldn’t have guessed BF upto this.