Commission is the price you pay for using BetFair.
Thankfully commission is only paid on winning bets, which means you can avoid the commission by losing........although that's not the smartest thing we've ever suggested.
Everyone starts with the same basic commission rate (unless you happen to be sleeping with someone from BetFair), and then it can be reduced as you stake more on the markets.
Whilst the standard rate of 5% is high compared to some in the industry (Smarkets have a flat 2% and Matchbook have been running 0% on football), as with many things in life, you get what you pay for.
The service and liquidity at BetFair mean it's the go to site, regardless of the commission. After all, if the price is better, you might be making back that commission regardless.
Stick with us and learn the Advanced BetFair Trading techniques and you should soon see that commission rate reduce, and with it you'll also see enhanced bonuses and cashback offers.
Commission is calculated by multiplying your net winnings by the Market Base Rate (also known as MBR). Different markets have different base rates, but in general you'll be starting with 5%. That means that for every £100 won on a market with a 5% MBR you will pay £5 in commission. Not an insignificant amount, but it should have been offset in the enhanced odds you received when placing your bet.
Discounts to your commission rate are calculated based on your accumulation of BetFair points. BetFair points are earnt at a rate of 1 for every 10p of commission paid or implied commission (the amount you would've paid had your bet won). To get the maximum discount rate of 60% (essentially giving you a commission rate of 2%) you will need to have created £15,000 of commission, or implied commission, every week. That's a lot of high value trades, but there are certainly some people out there that achieve this.
Worth noting at this stage is a nod to sites that offer auto trading bots for BetFair. These systems log into BetFair and make trades on your behalf, or produce a list of suitable trades for you to complete to 'green up'. These systems, should not be used. There are many reasons for this, but the main one is they fall foul of the transactions charge BetFair implemented to stop these machines working (and by working we mean taking any liquidity in the market and making it harder for the regular punters to place bets). You can read more about transaction charges here.
Thankfully commission is only paid on winning bets, which means you can avoid the commission by losing........although that's not the smartest thing we've ever suggested.
Everyone starts with the same basic commission rate (unless you happen to be sleeping with someone from BetFair), and then it can be reduced as you stake more on the markets.
Whilst the standard rate of 5% is high compared to some in the industry (Smarkets have a flat 2% and Matchbook have been running 0% on football), as with many things in life, you get what you pay for.
The service and liquidity at BetFair mean it's the go to site, regardless of the commission. After all, if the price is better, you might be making back that commission regardless.
Stick with us and learn the Advanced BetFair Trading techniques and you should soon see that commission rate reduce, and with it you'll also see enhanced bonuses and cashback offers.
Commission is calculated by multiplying your net winnings by the Market Base Rate (also known as MBR). Different markets have different base rates, but in general you'll be starting with 5%. That means that for every £100 won on a market with a 5% MBR you will pay £5 in commission. Not an insignificant amount, but it should have been offset in the enhanced odds you received when placing your bet.
Discounts to your commission rate are calculated based on your accumulation of BetFair points. BetFair points are earnt at a rate of 1 for every 10p of commission paid or implied commission (the amount you would've paid had your bet won). To get the maximum discount rate of 60% (essentially giving you a commission rate of 2%) you will need to have created £15,000 of commission, or implied commission, every week. That's a lot of high value trades, but there are certainly some people out there that achieve this.
Worth noting at this stage is a nod to sites that offer auto trading bots for BetFair. These systems log into BetFair and make trades on your behalf, or produce a list of suitable trades for you to complete to 'green up'. These systems, should not be used. There are many reasons for this, but the main one is they fall foul of the transactions charge BetFair implemented to stop these machines working (and by working we mean taking any liquidity in the market and making it harder for the regular punters to place bets). You can read more about transaction charges here.