Betmate Points - commission discount system
Betmate are introducing a new commission discount system from April 1st which is similar to Betfair. Check email for details, or it's here:
In the email they do say that everyone will start with 2500 points (so everyone starts on 3% commission) but the rate of decay is 15% per week I think after reading the above quickly? So if you don't use your Betmate account regularly you will find yourself at a 5% commission rate fairly quickly (after 26 weeks to be exact).
Betmate operates a layered commission structure whereby the more you bet, the lower your rate will be. Commission is charged on your net winnings from any single market. You do not pay any commission on losing bets.
The standard commission rate is 5 per cent, but you will be able to bring that down to as low as 2 percent depending on the volume of bets you have matched. You will gain one Betmate commission point for each £25, $40 or €40 amount won or lost across all markets.
At the end of each week (0400 Hrs Monday) the points you have earned in the previous seven days will be added to 85% of your total carried forward from previous use to give a figure that determines your rate for the next seven days.
Our commission bands are as follows:
If you require any more information please contact our helpdesk via email at: firstname.lastname@example.org
. Betmate are committed to providing the best service for you and see these changes as a necessary part of our development.
Not sure how this affects Asian Handicap markets, hoping they don't change the 2% rate on those but no doubt they will.
By my calculations you would have to win/lose a bit over £9000 a week to cover the 15% decay and stay on 3%.
Originally Posted by munk
I got wind of this a few weeks ago and have already pulled out of here, as they have no advantage over other sites except the 3% commission rate. My understanding is that the 2% AH markets are also history at the end of the month, and if you look at the markets you will see that all mention of 2% has already been removed. So, bye BetMate. There is however talk of an improved service - we shall see.
Of more concern to me is whether these changes are just BetMate, or are GBE wide, i.e. whether BetDaq will be affected (especially the 2% AH markets there). The talk of an 'improved site' is why I am wondering about changes being beyond BM, or perhaps they are leaving GBE, or just bringing their interface into line with BD's? This is all simply speculation at this stage. The only tiny sign of any change which I've gathered about BD is that I believe the free Moneybookers deposits at BD end on the 31st March?
Does anyone have any more concrete info than this?
Yes I noticed they seem to have taken out any mention of commission from the 'Info' tabs now, I had a look earlier and wasn't sure if it had always been like that but now you mention it I think they did used to say 'this is a 2% commission market' or similar.
I can't understand it at all why they've done this. There was barely enough liquidity in most markets as it was - this will only make it worse for them.
The 2/3% commission was the only thing that made me choose Betmate over Betdaq (and Betfair), so now it's a toss up between Betfair and Betdaq/mate and I'm afraid Betfair wins out unless miraculously GBE manage to tighten up the spreads which I can't see happening (especially if the commission is 5%!).
Looks like they've thrown in the towel then and handed the victory over to Betfair. Real shame.
Since Betfair introduced a Premium Charge, there's seemingly been nothing more from BF's competitors than short-term commission reductions and banner ads proclaiming their site didn't have a Premium Charge. Daq removed the 2% MB deposit fees which felt like a nice touch but in reality simply stopped them being negatively out of line with pretty much everywhere else you can bet online using e-wallets. BM still have those deposit charges at this point and it's hard to imagine any such commission structure widening their appeal so I assume in their calculations that this new structure will not make themselves less successful than they currently are. How that can be though, I'm not too sure
I use exchanges so little now I am happy to say I'm a 5%
So BM are basically going to same commission/points structure as Daq, albeit with an initial points balance of 2500... I really don't see the point in Betmate existing come the end of the year in that case.
The 0% Fees on e-wallet deposits is a promotion, and if you look on the daq forum you'll find this (note the smallprint!)
Originally Posted by musicbox
So make sure you load up before the end of the month.
Originally Posted by Betdaq
Don't hate the player, hate the game!
Sigh - well I'll miss you Betmate but this is complete business suicide - the liquidity has never been there really compared to BF and the reduced commission (in particular on the a/h markets) was the only reason to put up with the revolting colour scheme and irritating invititation to go to Pacific Poker.
I always did find it odd that BM was just a Daq skin with lower commission mind - kind of defeated the purpose of the main BetDaq site - which given Cassava licence the liquidity from daq it seemed odd to offer customers a better deal?
Are daq also killing the 2% rate on the handicaps anyone know? Wondering to move my secondary exchange float back there or just leave it in the bank post 1st April.
They are owned by 888/Cassava who licence the liquidity from The Global Betting Exchnage ltd who own Daq.
Originally Posted by DoctorGonzo
Rather similar to the relationship between 888sport and Blue Square.
So they are different companies operating them rather then a simple skin relationship.
Just an update to this - I emailed them to ask what the situation would be regarding Asian Handicap commission and they said that it would be subject to your personal commission band - ie 5% by default!
So yes I really can't see the point in using Betmate once the rates go to 5% - well, anything over 3% really, the 2% discount on Betfair's rates (and 2% AH comm) *just about* made them competitive with Betfair but unless they somehow magically reduce the spreads / increase liquidity then it won't be worth using them once the rates go up over 2/3%.
They must know this and that they'll lose most of their customer base overnight - suggests a prelude to a closure to me.
I wonder if Cassava are just giving up on the project and are no longer happy to pay whatever premium they were doing to GBE in return for allowing a lower default commission rate?
Yep, Cassava are up to something;
(btw this 'new' cashier took days to action MB withdrawals the last few times I used it with 888Sport)
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