Sunday, 21 September 2008

Out Of Sorts

Since Last Post P/L: £548.32
Monthly P/L: £548.32

With all this uncertainty surrounding the new Betfair Premium charge it should of no surprise to learn that my trading over the last few weeks has been erratic. Yep, I've made a profit but my actions have been undisciplined and my results far too inconsistent. It seems that whenever change occurs in my life the same pattern emerges as exactly the same thing happened when my son was born in March. Maybe it's not just Betfair that find managing change difficult after all?!?

As today signals the last day of Premium Charge freedom I should now be in a position of clarity but if I'm honest I still haven't figured out what my next actions are going to be. Of course, there are a list of options; increase my stakes, explore Betdaq, dabble with spread betting etc. but I'm keen not to rush in and get my fingers burned (act in haste and repent at leisure and all that).

I still feel victimised though so this hasn't stopped me from taking a few steps to show my disapproval:
  • I withdrew £2242 from my Betfair account earlier in the week. Not allowing Betfair to make a few pennies in interest has given me some satisfaction but I've left enough in there to act as a temporary float whilst I mull things over.
  • I've created a jpg image on the left hand side of my blog that illustrates I oppose the new Premium Charge. This may seem petty but I'm sure that Betfair think this issue will blow over so I'm keen to keep reminding people it exists. If you want a copy of the image to display on your own blog/website etc. then leave your email address in the comment section of this post and I'll send it over to you.
  • After receiving an invitation to attend the Betfair Academy programme I politely declined. Even though this is something that did interest me, how can I now promote a company that targets winners? The link to Betfair will remain on my link list but only to show the exchange still exists (please note - I don't get any type of commission from that link).
  • Created my own little Bollywood spoof movie about the charge. View it here. Just a little bit of light entertainment to accompany the many other spoof movies posted on the Betfair forum.

It's also interesting to learn that the people over at Bet Angel seem equally as disgruntled as me. This is the notice that currently appears when you log-in to use their software:

We note that despite being lobbied by us and our customers, Betfair have not made any further statements about the new charges. Therefore we have to assume they will come into effect on Monday. If they make no further statements over the weekend we plan to initiate a web conference session with interested users on Monday evening 7PM UK time. During this session we will have an open discussion and lay out our thoughts and plans. The session will be hosted by Peter Webb. Please check back on Monday morning on this page for details of how to join the session.

I'll be joining the session to see what Peter and the team have to say but I'm not too hopeful. I'm guessing that it'll go along the lines that steps have been made to design alternative software but these things will take time etc. If this is the case then it looks as though the exodus to Betdaq may have to be put on hold for the time being.

So that's that, but as some of you may have noticed I haven't posted any results for September yet. I felt that talking about wins/losses was inappropriate given the circumstances so here's a small catch-up:

American Football: £48.94

Cricket: £251.24

Horse Racing: £17.41

Golf: £84.54

Motor Sport: £177.04

Rugby Union: £39.46

Special Bets: £62.39



Cassini said...

Hi Mark - I would like your jpg image to use on my blog if you don't mind. Like you, I've been a little distracted these past few days over the Premium Charge. I also pulled out some money to leave just a working balance in my account, and have been using BETDAQ - familiarising myself with it's foibles as it were. I hope that liquidity over there will improve as of tomorrow. Good luck on the NFL today.

Mark Iverson said...

Hi Cassini,

What's your email address? I'll then forward you the jpg.

If you don't want to post it on the blog then email me at and I'll reply.

All the best mate,


Nick said...

And now we have Betfair arcade games! FFS

Mark Iverson said...

It's all gone Pete Tong Nick!