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>However there are now other exchange betting options, with at least some degree of liquidity - Betdaq, Smarkets and Matchbook for example. That's good to know
by GigabyteCoin 9y ago
>However there are now other exchange betting options, with at least some degree of liquidity - Betdaq, Smarkets and Matchbook for example.
That's good to know.
But do they impose the same sort of "60% winners tax" that betfair does? Or anything close to that?
Because if so, I wouldn't even bother signing up.
I don't need to gamble that badly!
- joosters 9y agoUnfortunately the other betting exchanges have far far less liquidity than Betfair, and much of the bets on offer are from bots that are simply mirroring the odds on Betfair (with their own margin added on) Basically, all the money goes on Betfair because that’s where all the money is. It’s a vicious circle, great for BF and very difficult for any competitors to break in to the market.
- phillc73 9y agoBetfair is for sure the most liquid. Smarkets and Matchbook are growing. I've not used Betdaq. However, if people are worried about hitting the Premium Commission levels on Betfair, and the other exchanges are mirroring prices, then surely it's worthwhile spreading stakes around.
- phillc73 9y agoThe so called "60% winners tax" doesn't kick in on Betfair, according to the linked article above, until you've reached a total lifetime profit of £250,000. Up until that point you'll still pay the normal 2%-5% commission in winnings. How long do you estimate it will take you to clear £250k profit in Betfair? I'd say sign up and worry about it when it's likely to happen.