So, Betfair have decided to tinker with their Premium Charges yet again, except this time they've really gone for the jugular. Instead of 20%, they now want 40-60% of your winnings depending on how much commission you generate for them. The good news? There isn't any. Your account will need to have a lifetime net profit of £250k (although it's likely this condition will get ditched in the near future) but Betfair are basically saying that if you keep winning you'll pay eventually.
For those who believe the spin that this only effects 0.1% of Betfair users, you are mistaken. It effects everyone. This is the issue. Betfair have only looked at what it will cost them in losing these 500 or so accounts. They've not taken the time to fully understand the impact these charges have on those below the 250k 'magic' number. People aspiring to this level plan their lives around Betfair's charges and as in any line of business will do what they can to minimise the impact.
The result? Everyone who's read about these new charges is either contemplating life without Betfair or thinking of a way not to pay. Eitherway, it's a lose-lose situation for for a company who had huge customer loyalty and market awareness only a few years ago.
Surely it's time people started walking to Betdaq? Full details of the new charges can be found here.