For the vast majority of Betfair customers, the only charges paid to Betfair will be commission on net winnings in a market, as set out in more detail in Section 1 below.
There are additional charges to deter extreme usage of the facilities provided by Betfair: customers who place more than 1000 bets in any hour may also be charged a transaction fee depending on the number of bets placed and the amount of commission they have already paid, as set out in Section 4 below. In addition, customers who make more than 20 data requests in any one second may also be charged a fee depending on the number and type of data requests made and whether they were also generating matched bets as opposed to just reading data. Fees relating to data requests are set out in Section 5 below.
Charges relating to the deposit and withdrawal of funds to or from Betfair are set out in the deposit and withdrawal pages within the ‘My Account’ section on the website. However, additional charges may apply in some cases. These charges are set out in Section 6.
Finally, a small number of customers who, in the long-term, generate very little commission compared to the amount they win will incur Premium Charges. Any customer affected by this charge will be notified in advance. Details of the Premium Charge are set out in Section 7 below.
An Inactive Account Fee will be payable by customers who have not logged in to their Betfair account for thirteen consecutive months or more and who have a Betfair account in credit. Details of the Inactive Account Fee are set out in Section 8 below.
1) Commission, Market Base Rate, Discount Rate, Betfair Points, Betfair Points Statement and Betfair Holidays
Betfair charges a Commission on your net winnings on a market. If you have a net loss on a market you do not pay commission.
Commission is calculated by multiplying your net winnings by the Market Base Rate, as shown on the Rules tab. From this we will apply a discount. The more you bet with us the greater the discount you will receive.
The size of this discount, or your Discount Rate, is determined by the number of Betfair Points you have accrued on your account. Betfair Points are earned in proportion to your betting activity - the more you bet, the more points you accrue, the greater your Discount Rate. Please note that your discount rate will be capped at 20% unless you have completed Betfair's Know Your Customer check requirements.
You earn Betfair Points every time you bet on a market. You will earn 1 point for every 10 pence of commission paid (if you have net winnings) or implied commission (if you have a net loss). Implied commission is calculated in exactly the same way as commission but refers to losses rather than winnings. Betfair Points are awarded equally whether you win or lose.
Example:
You have net winnings in a market of £400.
The Market Base Rate is 5%.
Your current Discount Rate is 40%.
Therefore the commission you pay is £12 (£400 x 5% x (1-40%)).
You earn 120 Betfair Points.
Example (using implied commission):
You have net losses in a market of £100.
The Market Base Rate is 5%.
Your current Discount Rate is 30%.
Therefore the implied commission is £3.50(£100 x 5% x (1- 30%)).
You earn 35 Betfair Points.
For the purpose of calculating Betfair Points your commission or implied commission on a market is rebased to British Pounds at the time of settlement.
