We would like to announce our new Betfair Discount Ladder which goes live on Monday, June 17th 2013 in Czech Republic. As you may know Betfair points allow you earn a discount on the commission rate you pay and can reduce you commission by as much as 60%. The new simplified ladder will help you more easily understand the value of your Betfair points. As before more points mean a bigger discount – see the table below which you can keep for reference. We have also included a full explanation of our pricing on the following page.
We greatly appreciate your continued custom and wish you luck when accumulating Betfair points.
From To Discount rate
0 6,999 0%
7,000 16,999 10%
17,000 28,999 20%
29,000 48,999 30%
49,000 79,999 40%
80,000 149,999 50%
150,000 - 60%
Betfair charges a Commission on your net winnings on a market. If you have a net loss on a market you do not pay commission.
Commission is calculated by multiplying your net winnings by the market Base Rate, as shown on the Rules tab. From this we will apply a discount. The more you bet with us the greater the discount you will receive.
The size of this discount, or your Discount Rate, is determined by the number of Betfair Points you have accrued on your account. Betfair Points are earned in proportion to your betting activity - the more you bet, the more points you accrue, and so the greater your Discount Rate. Please note that your discount rate will be capped at 20% unless you have completed Betfair's Know Your Customer check requirements.
You earn Betfair Points every time you bet on a market. 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). Betfair Points are awarded equally whether you win or lose.
You have net winnings in a market of £400.
The market Base Rate is 5.0%.
Your current Discount Rate is 40%.
Therefore the commission you pay is £n (£400 x 5.0% x (1-40%)).
You earn 120 Betfair Points.
For the purpose of calculating Betfair Points your commission or implied commission on a market is rebased to British Pounds at the time of settlement.
Your Discount Rate is calculated from your current Betfair Points every week. This occurs at midnight (GMT) every Sunday.
Once your Discount Rate has been calculated, your Betfair Points balance is reduced by 15%. This is known as the 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 that rate immediately.
Discount Rates are applied at the time of market settlement rather than bet placement. These might be different for you in long term markets.
The Betfair Points Statement within your My Account section provides a full history of your Betfair Points. It shows changes as a result of your betting activity, as well as any weekly decay and relevant promotions. This statement also shows your current Discount Rate.
Remember, you are able to prevent the weekly decay of your Betfair Points by using a Betfair Holiday. You may continue to bet during your Betfair Holiday but you will not earn Betfair Points for any markets settled during this period.
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 you cannot accrue more than four unused Betfair Holidays on your account.
The Betfair Holidays section within the My Account section provides a calendar for the next 26 weeks and enables you to book or cancel Betfair Holidays for any of these weeks.