Pay Less Commission with Discount Rates
Discount rates enable Betfair customers to pay even less commission on its all ready low margin product. Depending on how and how much you use your account, you may be automatically paying less commission.
For example, if you have a discount rate of 10% and the Market Base Rate is 6%, you will pay a rate of 5.4% on net winnings.
6% Market Base Rate x 10% (your discount) = .60
6% Market Base Rate – .60 = 5.40%
Discount Rates & Betfair Points
You earn Betfair Points every time you bet on a market. These points are calculated by converting your activity to British Pounds at the time of settlement. 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 the same way as commission but refers to losses rather than winnings. Betfair points are awarded equally whether you win or lose.
Click on the thumbnail to enlarge the Points Table.
To view your Betfair Points, simply sign in and click on My Account.
Your points summary will be in the summary view (click the image to enlarge).
Weekly Decay of Betfair Points
Once your Discount Rate has been calculated, your Betfair Points balance is reduced by 15%. This is known as Weekly Decay. If you continue to bet at the same level each week, your Discount Rate will remain unchanged. If your Betfair Points at any time imply a higher Discount Rate, you will move to the rate immediately.
Another way of preventing Weekly Decay is to take a Betfair Holiday. A Betfair Holiday is a week that you can book in via the My Account section, where Betfair Points do not change, regardless of your activity. This means if you don’t bet (or bet less) you won’t incur Weekly Decay and if you do bet, you won’t incur any points.
You earn one Betfair Holiday when you register and one additional Betfair Holiday every three months thereafter. You may use your Betfair Holiday at any time but cannot accrue more than four unused Betfair Holidays on your account.
To view your points statement, or book a Betfair Holiday, simply sign in, click on My Account and on the Summary Page in Betfair Points click on “More”.