BetfairX Rebate Scheme
Posted on 19th Aug 2010, at 17:48
Last updated on 11th Sep 2011, at 22:19
NOTE
Latest version of this page is now located here:
Thanks.
Introduction
We are very pleased to announce that all TGT members are eligible to receive a rebate on their Betfair activity - this is the 'BetfairX' scheme. You will receive roughly 10% of all sportsbook exchange commission you pay each month back as a rebate from us if you register for a Betfair account via the BetfairX scheme.
The offer is open to new and existing Betfair users - if you are already an existing Betfair user you are eligible to open an extra account, although alternative funding arrangements must be used to fund the new account (ie different bank account or Moneybookers email address).
How Does BetfairX Work?
The BetfairX scheme works as follows:
- Open a new Betfair account via the TGT BetfairX link.
- Email your details to us so we can verify the account was successfully tracked via the BetfairX link.
- Automatically receive a rebate/cashback from TGT each month your account has been actively generating exchange commission.
Each of these steps are described in detail below.
Important Note
Before you open a BetfairX account it is very important to understand that your Betfair account registration MUST track correctly otherwise we cannot pay you a rebate. It is recommended that you clear all cookies before starting to ensure the registration tracks correctly - see this link for information on clearing browser cookies .
Step By Step Guide to BetfairX
Please follow the steps below very carefully to get started with BetfairX.
Step 1: Open a BetfairX account
To open a BetfairX account, please register a new Betfair account via the following link:
BetfairX Account Registration
This should take you to the default Betfair home page - from there, register for a new account as normal (make sure you're logged out of your 'old' Betfair account first!). You do not need to enter any referral codes if prompted, the most important part is that you register for the account via the link above.
Step 2: Email your details to TGT so we can verify the account was successfully tracked via the BetfairX link
Once you have deposited successfully, please email us so that we can confirm that the account has tracked successfully and you will be eligible for BetfairX rebates. We cannot pay rebates if your account has not tracked, so please follow this step very carefully!
The details we require to verify your account registration are as follows:
- TGT Forum Username
- Full Name (first and last name is fine)
- Betfair Account Registration Date
- Betfair Account Registration Time
- Moneybookers Email Address - the address to which you would like the BetfairX rebates to be paid
Important
If at all possible, please only use the email link below to submit the details. By clicking on the email link below, your email program should open with a pre-prepared template for you to complete all the required details.
The email link to use to submit your details is as follows:
BetfairX New User Registration Email Link
Once you have sent the email, please use the account as normal (the account will not show up on the affiliate system until you have had some activity on the account so you need to have had some activity on the account first before we can verify it tracked OK). When your account does show up on the affiliate system (usually 24hrs after your first activity) we will provide you with details about what happens next (also covered below, basically you receive the rebates!).
Step 3: Receive BetfairX Rebate Payments
Once your BetfairX account registration has been verified, you are free to use the account as normal. Whenever you pay commission on the Betfair sports exchange, a portion of that commission will be paid to TGT as affiliate revenue and in turn you will receive half of whatever affiliate revenue we receive.
Betfair usually pay affiliate revenue towards the end of each month for the previous month's activity - so for example all affiliate revenue generated in January will be normally paid out towards the end of February. When TGT receives payment from Betfair, we will check how much rebate is due to you and pay you directly via the payment method you indicated on your BetfairX 'New User Registration Email' above.
You do not have to do anything / request your rebate, it will be processed and sent out automatically when it is due.
Frequently Asked Questions and Answers
General FAQ
Q: I already have a Betfair account, is it OK to open a second account?
Yes it is OK to open a second account. There are many reasons you might want to open more than one Betfair account - for example to ringfence funds for a particular staking strategy (ie a trading account, mug punting account, etc) or event (ie a new football season, betting on something like the World Cup) or perhaps to use only for casino/poker activities. Betfair recognizes this and allows you to open more than one account as long as you do so within reason.
Q: I already have a good Betfair discount rate, will I lose that when I start using my new account?
Yes you will start your new Betfair account on a discount rate of 5%. Generally it will take around 1-2 months to reach the same discount level again if you continue wagering at the same rate PLUS of course you will also be getting the benefit of the rebate back each month as well which adds to your discount rate (roughly a 0.5% extra discount on your rate)!
Depositing into Betfair FAQs
Q: I want to deposit into my new Betfair account but I've already used Moneybookers to deposit into another Betfair account - what can I do?
You can use the same Moneybookers account to deposit into more than one Betfair account so long as you use a different Moneybookers email address to deposit into each Betfair account.
Firstly, add a new email address (obviously an account you have access to!) in your Moneybookers profile page. Next, set this new Moneybookers email address as 'primary' - again in your Moneybookers profile page. Finally you can deposit into Betfair using the new Moneybookers email address. When done, you are free to change the primary Moneybookers email address back to what it was (although remember to change it again if you need to deposit - or withdraw).
If you have any questions about this please email TGT/BetfairX support (see below).
Q: I want to deposit into my new Betfair account by card, but I've already used the same card to deposit into an old Betfair account - what can I do?
A credit/debit card can only be 'attached' to one Betfair account - so for example if you already used a card to deposit into a previous Betfair account, you can't re-use the same card to deposit into your new BetfairX account. HOWEVER it is fine to use another card to fund the new account as long as the card number is different from any other card(s) you've used on other Betfair accounts.
This means for example if you used an old 'xyz bank' debit card on an old Betfair account and that card has since expired, you will be able to use your new/replacement 'xyz bank' card on the new Betfair account. Also for example if you used 'xyz bank' card on your old Betfair account, you are free to use 'abc bank' card on your new Betfair account.
BetfairX Rebate FAQs
Q: How will I be paid the BetfairX rebate?
You will be paid via Moneybookers. If you require payment via another method, please contact us to request this.
Q: When will I be paid a BetfairX rebate?
Betfair normally pay affiliate revenue at the end of each month for the previous month's activity (ie January's affiliate revenue is paid towards the end of February). When Betfair pay us, we will pay you any rebate amount due. You do not need to contact us to request a rebate.
Q: What is the minimum rebate amount that you pay?
There is no minimum rebate amount any more (prior to January 2011 the minimum rebate threshold over which you had to have earnt to get paid was £10, this has now been scrapped). As a result, whatever you earn - no matter how large or small - you will get paid each month automatically.
Q: How is the BetfairX rebate calculated and how does it relate to how much commission I've paid?
Betfair pay 25% of 'net exchange commission' to us as affiliate revenue and we pay you half of all affiliate revenue we receive for activity on your account. HOWEVER importantly 'net exchange commission' is usually less than the amount of commission listed in your Betfair statement due to the following definition of 'net exchange commission' in the Betfair Affiliates T&C:
"Net Exchange Commission" means total commission generated by Betfair from exchange betting via the www.betfair.com website less adjustments made for any credit card charge-backs or any other reversal of a payment, fraudulent or otherwise voided or modified transactions, bad debt, the cost of any promotional offers (including but not limited to any sign up bonuses), payments to any sporting bodies (including but not limited to any football governing bodies and the British Horse Racing Board or any similar body in any jurisdiction) and liability to any betting duty or licensing fees for data or other duty, tax or expense that may arise;
(click here for the full affiliate T&C )
As a result this means it is not possible to calculate exactly what percentage of your commission you will receive as a rebate - but we will pay you half of whatever we receive as affiliate revenue based on your activity on the account.
As a rough guide, you will receive 10% of the actual commission you pay in the sportsbook back as a rebate.
Q: Are rebates paid on activity in other sections of Betfair like Multiples, Casino and Games sections?
BetfairX rebates are only paid on activity in the Betfair sportsbook exchange.
Q: How long do I receive BetfairX rebates?
You receive BetfairX rebates for the first 12 months of activity on your account, starting from the day you opened the account.
Contact Us
Q: I have a question about BetfairX, how can I contact you?
Feel free to contact us at the following email address:
betfairx@thegamblingtimes.com
