Betfair Rewards Plan
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Betfair Points are not rewarded for play on Sportsbook, Arcade, Casino, Live Casino, Bingo, Poker or Exchange Games. Freezing your Betfair Points. When you're not betting on the Exchange, you can freeze your Betfair points to prevent a weekly 15% reduction and your commission rate will stay the same. A Betfair points freeze lasts for one week. Betfair have now announced that their new rewards program for their UK exchange customers. The program is called ‘My Betfair Rewards’ and is available in the ‘Promotions’ section of the Betfair Exchange site. There are 3 different reward packages to choose from. Betfair's Basic rewards plan is exactly what it sounds like: basic. This plan offers no rewards; in fact, it even disqualifies you from some of Betfair's promotional offers. However, the Basic rewards plan allows you to make use of the minimum, 2% commission rate. Betfair Poker has always enjoyed a good player active base on the poker side, reason for running numerous monthly promotions here. Even from the beginning, the welcome package rewards new depositor players with free tokens to different tournaments for the Betfair Poker Live team qualification.
Betfair Exchange is the industry's most popular betting exchange. Until recently, the exchange took some pretty hefty commissions. However, in response to new competition, Betfair have released a new commission model which involves commissions as low as 2% on your winning bets. In this article, we'll look at how commissions work on the Betfair Exchange, with the newly implemented rewards plans.
What Is the Commission on Betfair Exchange?
The lowest commission available on the Betfair Exchange is 2%. This applies to all winning bets, and is calculated based on net winnings, which is the total profit from a bet plus the original stake. In other words, if you win a £100 bet at 1.5 odds, you'll pay 2% of £150, or £3, in commission. The commission on Betfair Exchange can rise to 5% or 8% if you choose to sign up for one of Betfair's new rewards plans. While this might not sound so attractive, it can be a good trade-off for casual punters. Of course, if you have a betting strategy that profits consistently, you're better off sticking with the 2% commission.
Betfair Rewards Plans
Betfair Rewards Plan Login
As mentioned, commissions on the Betfair Exchange depend on which of Betfair's rewards plans you are signed up to. There are a total of three rewards plans. While they cost nothing to sign up for, they each have their own pros and cons.
Basic
Betfair's Basic rewards plan is exactly what it sounds like: basic. This plan offers no rewards; in fact, it even disqualifies you from some of Betfair's promotional offers. However, the Basic rewards plan allows you to make use of the minimum, 2% commission rate.
Rewards
The next rewards plan offered by Betfair is called Rewards. This plan will increase your Exchange commission to 5%, which is a big jump. In exchange, Betfair provides a fair few bonuses for users of this plan. First of all, users on this plan will get a free £5 accumulator bet every month. What's more, they'll get 10 free spins a month on Betfair's Age of Gods. They'll also get access to the Cash Race promotion. Last but not least, users on this plan will get to play Betfair's Beat the Drop for free, once a month, with the chance to win up to £32,000. There's no doubt about it: this plan is definitely less favourable for professional sports betters, who'll lose out on a further 3% of their winnings for mediocre rewards. But for the casual punter, with just a few hundred pounds to play with, this plan is a lot more interesting.
Rewards+
The third and final rewards plan on Betfair is called Rewards+, or Rewards Plus. This plan increases your commission rate to 8%, but the rewards are even better. Perhaps the most interesting reward on this plan is that users will get 10% back on their losses, on a monthly basis, per the terms and conditions. Aside from that, users on this plan get similar, but more significant benefits to users on the Rewards plan. This includes a free £10 accumulator every month, 25 free spins every month, extra prizes for the Cash Race promotion, and two free plays of Beat the Drop every month.
Once again, the Rewards+ plan isn't too interesting if you consistently profit from sports betting. However, it can be beneficial for casual punters, who don't always turn a profit.
Which Betfair Rewards Plan Should You Choose?
So, we've looked at the three rewards plans offered by Betfair and how they affect your commission rate on the Betfair Exchange. But which plan should you choose? If you have a betting system that allows you to make more than £200 a month, like Hinto, we'd absolutely recommend sticking with the Basic plan. If you mainly bet for fun or make less than that, we think the Rewards+ plan is the way to go, because of all the fun and exciting rewards it offers. Truth be told, we can't see too many reasons to go for the middle-tier Rewards plan. Either you're making some decent money with sports betting, in which case you'll want the lowest commission, or you're not, in which case you'll want all the rewards you can get.
How Do Rewards Work with Betfair Premium Charge?
Unfortunately, there's a separate commission for the most profitable Betfair users called Betfair Premium Charge. No matter which rewards plan you choose, you'll be hit with the Premium Charge if you meet certain conditions, which are related to how much you profit versus the amount of commission you pay.
How to Reduce Betfair Exchange Commissions
If you're already on Betfair's Basic rewards plan, there's nothing you can do to reduce your commission rate any further. If you're on either of the other two rewards plans, you can of course change to the Basic plan to pay lower commissions. As for Premium Charge, there's unfortunately no feasible way to get around it, as we explain in this article.
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Final Thoughts
Commissions on the Betfair Exchange can be as low as 2% of your net winnings, if you opt for the Basic rewards plan. There are a total of three reward plans, and the other two sacrifice a low commission rate for monthly rewards and promotions. In general, we recommend sticking with the commission-friendly Basic plan if you're a profitable better; otherwise, you can consider the Rewards+ plan for some more excitement in your punting adventures.In any case, don't get too caught up with how much commission you're paying. If you're using the right betting system, like Hinto, you can turn a monthly profit even with the heftiest commissions!
If you haven’t received an email, click on the following link to learn more: –
To navigate directly to choose a rewards plan visit here: –
Special deals
For some time I’ve been aware that Betfair had been making a few offers to different customers. But this has been based very specifically around certain types of account activity.
The net effect of this was to balance out a number of different incentives and rewards for the different types of activity on the exchange. But most of these have been net neutral in terms of their impact on individual accounts and the amount of commission that has been paid. There didn’t seem to be any pattern and it applied to horse racing as much as cricket. But it did seems to be selective from an account perspective.
There were individual promotions as well, but detail on them and why there were offered was a bit sketchy.
Betfair rewards
About one month ago we started getting reports that Betfair had initiated a program called a ‘rewards plan’ where customers could choose to fix their commission in return for additional incentives or lack thereof. Curiously this wasn’t reported by customers in the UK and it seems to replace the Betfair points and switch it to a
Best Betfair Rewards Plan
At first, it looked like this was being specifically offered to particular customers but referring information on their website appeared to show it had been in place at least since June. Quite a few reports were coming in despite the offer not appearing to be generally available. You can see the discussion in the forum: –
No exceptions? Apart from Premium charge payers!
I’m not aware of any particular exceptions but if you are aware of any then I will add them to this blog post for the benefit of anybody that arrives here. Of course, if you are a higher rate premium charge payer this is a bit of an irrelevance. Whatever deal I choose to sign up on, will always get topped up to the higher rate of premium charged that I have to pay each week.
However, for the vast majority of users. I would imagine that there is an incentive to be to sign up to one of these particular schemes. The basic rewards plan basically excludes you from any interim promotions but gives you a 2 per cent commission on net winnings on Betfair exchange markets. I am sure that this will be attractive to many people. The other two schemes give you varying commissions and varying incentives to take up additional offers that take place.
It looks like it will allow you to switch to one of these plans. So it’s probably worth doing fairly immediately. That doesn’t appear to be that many terms and conditions applicable. However I noticed on one email that I didn’t get that it was implying that the ability to change plans looks to expire at some point in the near future.
However, the ability to switch plans before this date has set appears to be the case. So even if you make a mistake it looks like you can actually change backwards and forwards between these commission plans before the lockdown date.
Betfair Rewards Plan App
If you’re interested in learning more about this and the impact on your trading and the potential impact on the exchange come in and have a chat on the forum thread that’s been very active now for some time on this thread. Everybody is discussing this particular move by Betfair and the likely impact on their own peer tells and on the activity on the exchange.
Join in the discussion here: –
The race to the bottom?
It is interesting to see this move as it seems to signal a shift in Betfair’s betting exchange strategy. A comment in February 2018 indicated that Betfair would not follow the rush by other betting exchanges, such as Betdaq, Smarkets and Matchbook to lower commission rates.
However, I’ve noticed that volumes have been slipping on key markets for some time and this has accelerated in 2019. Betfair have actually stopped publishing data on indiviudal markets. But because I record and archive data on all markets I trade I can see all market changes first hand.
While a move to lower commision doens’t benefit me at all, as a higehr rate premium charge payer. I’d imagine it should have an impact on some markets by encouraging a bit more activity. I’m hopeful that this will happen, but open minded enough to sit and wait to see if it feeds through into the numbers.
Driving growth in Betting exchanges
If the move is to counter offers by other exchanges, it’s a welcome sign that competition does have an impact can drive future growth.
This move may hurt other betting exchanges, particular the Betdaq exchange who have invested money to promote themselves as the 2% commission exchange. I remember commenting to them that if I was a competitior an easy way to undermine their proposition was to match it. As you would then trash the entire marketing message. That looks like it has come true.
It will be interesting to see where the market heads from there. Better pricing should keep people in the game for longer and allow people
Betfair Rewards Plan Account
Ultimately using exchanges as a pool to hedge into while skinning liquidity into punter friendy formats is the way I would use exchanges. The potential is there but not all aspects are being address, but a reduction in commision should make exchanges a better proposition, attractive and a simpler proposition again.