One of the unique benefits of the Betfair Exchange is the ability for customers to trade in and out (back and lay) as prices on a market fluctuate in the build up to the jump or start of the game and then in-play.
Unfortunately, the National Rugby League (NRL) have a product fee approach (the Turnover Model) where every “back bet” attracts a product fee, even if a customer is trading and therefore generating very high levels of back bet volume relative to their eventual net customer winning position.
The NRL Turnover Charge is aimed at customer activity which generates large volumes of back bets without providing Betfair with the corresponding revenue to cover the product fees imposed. Therefore, without this Turnover Charge, Betfair would be left with a product fee payable to the NRL but no revenue with which to pay it.
On and from 21 September 2020, Betfair is implementing a Turnover Charge on NRL markets and certain other rugby league events, this is aimed at addressing the ongoing issue outlined above.