OFFICIAL Betfair Premium Charge Portal Link 2012

UPDATED TO FEATURE NEW 2012 LINK:

You must be logged into your BF account via another browser window for your Premium Charge report screen to appear. You must also be eligible for the Premium Charge. Losing customer will only see an error message such as:

 ”??? Exception.General ???” your account is eitherNOT eligible for Prem Charge.

 

OFFICIAL LINK: (courtesy of Elitebet VIP)

https://account.betfair.com/regpay-myaccount/premiumcharge/summary.html

Make sure you are logged into the Betfair Account you want to check your premium charge status on before clicking this link otherwise an error page will be generated.

Also, if you are NOT eligible for the Premium Charge, this page will not show the relevant data about your account such as how much you have won or lost overall on your account.

This may be because Betfair (like any bookmaker) is not keen to remind losing customers their overall profit and lost from gambling.
Who are Elitebet VIP?
Elitebet VIP is the ally of higher-staking gamblers (minimum bet size: $500). 
Our relationship managers help private gamblers around the globe process withdrawals and make deposits FAST. We aid gamblers who require access to reliable, safe gambling platforms for higher stakes.
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DETAILED PREMIUM CHARGE GUIDANCE – BELOW:
ARE YOU WORRIED ABOUT THE DANGER OF PAYING THE PREMIUM CHARGE? Don’t Stress. Instead, open an account with Bet365, get £200 in free bets, Live Streaming and market beating odds…

 

How does the Premium Charge actually work?

Below, we offer an example of the content of the Betfair Premium Charge Portal screen. The facility is only active and available to view by account holders eligible to pay the charge.

If you start to win consistently with a high strike-rate, this is the screen you will use to see how big the charges you must pay are:

 

In this example, a series of ticks and crosses reveal whether the user needs to pay Premium Charge this week – and if so how much.

Betfair works out your charges at the end of the week and takes your money out of the account mid-way through the following week.

You must pass all the hurdles detailed below before you will be required to pay the charge.

In this example, the customer whose Prem Charge Portal Link we are looking at does qualify for PREMIUM CHARGE on a number of Criteria, but not on others. Because the account does not pass all the Premium Charge hurdles, he does not need to pay the BETFAIR Premium Charge this week – or anytime soon in this case.

These are the hurdles a customer eligible for premium charge will be judged on each week – to decide exactly how much he needs to pay:

1) MARKETS – How many markets has the customer played in?

No Premium Charge applies for the first 250 different markets a customer plays in after openinig a Betfair account. This is to ensure that valuable new customers are given a soft introduction before charges kick if they keep achieving a high strike rate of wins.

In the example Premium Charge screen above, the customer has played in more than 250 markets, so he gets the dreaded RED TICK. This means he is eligible for the PREMIUM CHARGE on this test.

But remember: no account will actually have Premium Charges deducted until all the hurdles are crossed – with red ticks notched against each one.

2)  PROFIT OR LOSS TALLY: Has the customer made a profit overall (after commission) since he first opened an account with Betfair?

If not, he’s free to keep gambling untroubled by extra charges beyond his losses. This imaginary customer has made a profit, so he’s still in the firing line.

3) CHARGES: Next Hurdle: Charges (fees, tax etc…) paid to Betfair.

How much are they in each category since the account as opened?

All sports exchange customers pay commission of course (on a sliding scale between 2% and 5%) but there are other charges leved which are noted at this stage in the portal display as well. For example, how much Premium Charge has been paid in the past on the account and have any Data charges which have been imposed already.

(These are fees levied against high-tech Betfair customers who bombard the company’s servers with electronic pings demanding information about the latest prices. They use this information to exploit price variations to make money, but Betfair feel they put a heavy load on their IT equipment so charge for people who batter their IT infrastructure too heavily in the desperate quest for profit.)

4) Next Hurdle: A calculation to assess how much charges have been paid on the account relative to the profits achieved.

a) Add up all the charges paid by a customer, over the lifetime of the account.

b) Then add up the lifetime profit (if any on the same account)

Is the result of a), above, less than 20% of the result for b), above?

If it is, that means that the lifetime charges paid by that customer amount to less than 20% of his lifetime winnings. Therefore he is in the Premium Charge firing line.

5) In our example above, the charges paid by our imaginary customer amount to 36% of his overall profit. This is a long way above the minimum percentage of 20% charges/profit ratio, so this punter is Premium charge exempt for the time being under the present regime.

He won’t be paying the premium charge until his lifetime charges/profit ratio drops below 20% which would require a series of wins with a high strike rate.

Let’s imagine though, that profit figure was under 20%. What happens next?

Well, the next criteria is did the customer win last week? Our example customer lost £200 last week. So for this week, there is no “profit” to levy premium charge on. Some Good News: Nobody has to pay the premium charge if they lose on a week.

If the customer had made a profit, he would be eligibile for Premium Charge if the charges paid fell below the 20% threshold, but not before then.

Now here’s the thing. This customer would previously have been a long, long way from paying the Betfair premium charge anytime soon.

But – assuming his lifetime PNL breached the £250,000 lifetime level , then his ratio of (36:100) (Charges Paid to Betfair: Overal Lifetime Profit) would be too low to escape from the new, higher, recently introduced higher-level Premium Charge.

If such a customer made a profit on a week (and used up his £1,000 lifetime allowance which is still intact in this case) he would become eligible to pay.

So inevitably, new previously exempt customers will be coming into the firing line from the new higher CHARGE.

We really hope none of this is ever likely to impact you. To be honest, if your gambling is just a bit of fun you are probably best off leaving betting exchanges alone.

You have the option of going to an online sportsbook where if you play recreationally you will be treated like royalty. You can bet in-running on tennis and footbal matches.

Of course, no normal sportsbook will put up with consistent long term winners, but if you haven’t reached that stage of your betting career, you simply cannot beat the value of the fixed odds bookmakers with concession, free days out to the races etc.

Our personal recommendation is Bet365 because we just don’t believe there is another fixed odds bookmaker out there offering so many markets, live in-running, TV streaming, with better concessions or FREE BET offers. And best of all your account will be kicked off with £200 in free bets. To be honest, if you bet regularly, it is our sincere belief you would be criminally stupid if you had the opportunity to open an online account with Bet365 and don’t bother doing so.

NEW HIGHER BETFAIR PREMIUM CHARGE CRITERIA:

Lifetime net profits exceed £250,000
Lifetime commission generated less than 40% of lifetime gross profits
Bet in more than 1,000 markets
The Premium Charge rate applied to each customer that satisfies these conditions is dependent on their lifetime commission generated to gross profits ratio. The exact rate will be determined by the following table:
Lifetime commission generated
to gross profits ratio Applicable Premium Charge rate
< 5% 60%
5% – 10% 50%
> 10% 40%
hi all, for the past year, I have been using betfair regularly for
football trading, and the week before last, my account has reached the point
where I have to start paying betfair premium charges. But just
then, I hit a big loss trading the liverpool/chelsea game, which made my entire
week’s profit negative and thus no premium charge for that week.
This morning, I got an email from betfair saying my account is
suspended for suspicion of premium charge avoidance, and that they are
to conduct a 10-days investigation on my account in which period I won’t be
allowed to perform any activities on my account. I am really outraged and
baffled by betfair’s such actions.
Just wondering if anybody has
encountered similar situation before. How are they going to carry out their
“investigation” and what will be the possible
consequences?
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Exacta
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Postby
toptrader » Tue Nov 16, 2010 9:30 am
Had a friend with similar issue and they also suspended my
account, but wouldn’t even give a time period. They locked all the money away so
you couldn’t access it despite the fact i was going on honeymoon and wanted to
withdraw it
best resolution is to keep hammering the call centre adn try
and get as high up as you can. I find writing to the CEO ofen works with this
sort of thing, where people lower down don’t take you seriously
Good
luck. As you say, you’ve done nothing wrong, it’s bordering on illegal for them
to withhold the money in your account.
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toptrader
Posts: 65
Joined: Sun Jan 31, 2010 9:58 pm

Postby
LeTiss 4pm » Tue Nov 16, 2010 9:42 am
Stories like this don’t enhance Betfair’s reputation or
respectability
To treat customers like that is bordering on the
despicable
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LeTiss 4pm
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Postby
Human123 » Tue Nov 16, 2010 11:28 am
Bizaare that they could try and put it down to someone losing
money to avoid the charge!
I am sure
they even encourage you to arb more so that you might not have to pay the charge?
If they are
claiming he arbed the money away so he could avoid the charge then they are surely
claiming he had inside information as how can anyone know for sure that their
bet was going to lose?
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Human123
Posts: 88
Joined: Mon Dec 14, 2009 1:44 pm

Postby
toptrader » Tue Nov 16, 2010 11:54 am
Could try and claim he was colluding with another customer to
place a bit on the exchange who would take the opposite side as soon as it
appears, therefore guaranteeing a transfer of money between accounts
Was
the losing bet at strange odds compared to everything else that got
matched?
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toptrader
Posts: 65
Joined: Sun Jan 31, 2010 9:58 pm

Postby
Euler » Tue Nov 16, 2010 12:28 pm
Never heard of this before, you sense that there was
something else going on here. But it seems odd that Betfair would pick up on a
bet, as they would earn comission on that?
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Euler
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Postby
hgodden » Tue Nov 16, 2010 12:33 pm
Surely they can’t suspend your account for just taking a one
off big hit? I’ve been thumped a couple of times with one off big losses due to
going in play since the introduction of the PC which have pretty much wiped out
my weeks profit but this didn’t start an investigation! I can only think that
something else must have happened for them to flag him up, if not then they’re
out of order
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hgodden
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Postby
andyfuller » Tue Nov 16, 2010 5:59 pm
Agree witht he last few comments – something isn’t quite
right here. there is no reason for Betfair to suspend anyone
for premium charge avoidance much like there is
nothing wrong with tax avoidance. I suspect that
this is not the whole picture and something else is happening for example using
different accounts and switching money between them, not that I am saying that
is what happened here but something isn’t right with this story.
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andyfuller
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Postby
Ferru123 » Thu Nov 18, 2010 11:49 pm
I’d take the bastards to the small claims court, and include
a sum for the hassle and stress they’ve put you through.
I strongly
suspect they’d settle out of court to avoid the publicity. The last thing they
want is punters worrying about whether they’ll get their money
back…
Jeff
toptrader wrote:Had a friend with similar issue and they also
suspended my account, but wouldn’t even give a time period. They locked all the
money away so you couldn’t access it despite the fact i was going on honeymoon
and wanted to withdraw it
best resolution is to keep hammering the call
centre adn try and get as high up as you can. I find writing to the CEO ofen
works with this sort of thing, where people lower down don’t take you
seriously
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Ferru123
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Postby
mister man » Fri Nov 19, 2010 12:36 am
interesting on two counts.
1. whatever the rights and
wrongs here, i think betfairs customer service levels are a joke.
2. the
responses highlight the shortcomings of internet forums. where facts and
opinions/debate are very rarely transparent.