Betfair is pleased to announce the lowering of commission rates on all Queensland racing codes.
From Wednesday the 11th of January 2017, a Market Base Rate (MBR) of 6% will apply to all thoroughbred, harness and greyhound racing events in Queensland. Down 25% from the existing 8% Market Base Rate.
The lowering of the MBR across all Queensland racing has been achieved by working closely with Racing Queensland who understand the unique service that the Betfair Exchange provides to our customers.
The lowering of the Market Base Rates for Queensland racing codes will bring them in line with Victorian thoroughbred and harness racing codes, Greyhound Racing NSW, all Tasmanian racing codes and South Australian thoroughbreds as a 6% product.
What about Discount Rates?
Discount rates are unaffected by these changes, customers will continue to enjoy a discount on the Market Base Rate up to 60% based upon their wagering activity. Learn more about Discount Rates and how they apply here.
How do I find out what the Market Base Rate is for a Market?
To find out what the Market Base Rate is for any market, simply click on the “Rules” section of the Market.
The 6% Market Base Rate image will be displayed in all 6% jurisdictions.
What are Betfair’s MBRs for all of Australian Racing?
On Australian thoroughbred, harness and greyhound racing, the Market Base Rate ranges from 6% – 8% depending on the state and racing code. Refer to the image below to find out exactly what rate is charged as of 11 January 2017.
Why does Betfair have variable Market Base Rates?
Betfair is charged different fees to provide the betting exchange from state to state. Variable Market Base Rates are reflective of the fees each racing body charges Betfair.
Betfair’s long term aim is to establish the right product fee model for the betting exchange across all Australian racing codes, enabling us to keep our MBR as low as possible. Learn more about Betfair’s Market Base Rates here.
Read Betfair’s Media Release here.