Betfair has revealed its decision to discontinue the current premium charge, introducing a new ‘Expert Fee’ instead, a strategy aimed at reducing the proportion of users incurring extra fees by half.
Under this new framework, Betfair’s most successful clients will incur a weekly surcharge in addition to the standard commission. This ensures their total contributions equal a designated percentage of their gross profits.
This revision is anticipated to halve the number of Betfair clients subjected to the charge and lower costs for others. Effective from January 6, it replaces the previous lifetime earnings cap with a fresh 52-week measurement system.
Profits and losses over a 52-week duration will now dictate the fee rate applicable. The rate varies in accordance with user profit levels but will be limited to 40%, a reduction from the previous maximum of 60%.
The Expert Fee categorizes users into three groups: those profiting up to £25,000 within 52 weeks remain subject only to the base commission rate. Those earning between £25,000 and £100,000 will incur a 20% rate, while profits exceeding £100,000 in the same period will attract the highest 40% rate.
Users’ positions within these bands can shift based on their financial performance over the designated weeks. Betfair also introduces ‘The Buffer’, designed to accommodate losses or added commission accrued since the user last incurred the Expert Fee or shifted to a different rate.
Customers can track their fees through the Expert Fee section on the dashboard, available on Betfair’s website starting January 13, 2025.
The January rollout of the Expert Fee concludes 16 years of Betfair’s premium charge system. In 2011, the platform had further implemented super premium charges, reaching up to 60% for top traders. Eligibility for such a charge required a net profit exceeding £250,000, a total commission below 40% of lifetime gross profits, and participation in over 1,000 markets.
Richard Hayward, Betfair’s managing director, stated, “This adjustment significantly reduces the number of customers facing additional fees and is just one of the many upgrades we plan for the exchange in 2025. We are committed to further innovations to enhance user experience and boost liquidity for everyone.”
The full article can be read on EGR Intel’s website under the title “Betfair unveils new Expert Fee system as premium charge structure scrapped.”