Unfortunately, Racing NSW have a race field fee approach (the Turnover Model) where every “back bet” attracts a race field 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 Turnover Charge is aimed at customer activity which generates large volumes of back bets without providing Betfair with the corresponding revenue to cover the race field fees imposed. Therefore, without the Turnover Charge, Betfair would be left with a turnover fee payable to Racing NSW but no revenue with which to pay it.
On and from 1 June 2020, Betfair is changing the criteria for the Turnover Charge and the way that it is calculated, this is aimed at addressing the ongoing issue outlined above and to align the Turnover Charge with the race field fees that are imposed by Racing NSW.
The Turnover Charge is only applicable on NSW thoroughbred markets (turnover charge markets).***