New customers only. Place a £10 bet on any Sportsbook market, at odds of at least 1.5 (1/2) — and we’ll give you £10 in free bets. Free bets will be awarded upon bet placement. Only deposits made via cards or Apple Pay are eligible. T&Cs apply. Paddy's Rewards Club: Get a £10 free bet when you place 5x bets of £10+. T&Cs apply.
New customer offer. Place 5 x £10 or more bets to receive £20 in free bets. Repeat up to 5 times to receive maximum £100 bonus. Min odds 1/2 (1.5). Exchange bets excluded. Payment restrictions apply. T&Cs apply.
*New members. £10 min deposit & bet on sportsbook, placed & settled at 1.5 min odds within 14 days of sign-up. Win part of E/W bets. 3 non-withdrawable £10 Free Bet Tokens: accept in 7 days, valid for 7 days from acceptance (ex. E/Ws & Multiples), stakes not returned. Click here for Rules & Exclusions. Bet Responsibly. BeGambleAware.org
*18+. New UK customers only. Min bet £10 to receive £10 Free Bet (settled 35 days from registration). Min odds of 3/5. Free Bet credited at qualifying bet settled within 35 days. Please gamble responsibly, www.begambleaware.org • T&Cs apply
New customers only • Min deposit £10 • A qualifying bet is a ‘real money’ stake of at least £10 • Min odds 1/2 (1.5) • Free Bets credited upon qualifying bet settlement and expires after 7 days • Free Bet stakes not included in returns • Deposit balance is available for withdrawal at any time • Withdrawal restrictions & full T&Cs apply
Betfair Exchange Commission Explained: All You Need to Know
If you’re new to betting in an exchange then one of the most important things you need to know is that with every win you’ll be charged a commission - learn how it works
14:00 December 20, 2019
How much commission you’re charged depends on a number of things, not least the betting exchange you’re using. The most popular is comfortably the Betfair Exchange and right here you can find all you need to know about exchange commission, how it works and what you’ll be charged.
What is Betfair Exchange Commission?
The way exchanges make their money is via commission. What that ultimately means is they take a percentage of any winning bet in exchange for you using your platform to place your bets against other players.
So, if you were to place a bet on a football team to win for example, and they do then you will be changed permission. If your bet was to lose, you wouldn’t be charged a commission, with your losing stake being delivered to either the player that took your odds or the play who’s odds you played.
It’s pretty simple, the commission is the small cut Betfair will take when you win a bet on their exchange.
New customers only, bet up to £20 on the Exchange and if your first bet loses, we’ll refund you £20 in Cash. Bet must be placed in first 7 days of account opening. T&Cs apply.
How Betfair Exchange Commission Works & Their Base Rate
This is calculated relatively easily. The base rate in which Betfair Exchange charges commission is 5% currently, which is higher than many of the brand’s competitors.
The way they calculate their commission isn’t a difficult equation to understand with 5% deducted from a player’s net winnings.
In some cases you will also enjoy a player discount, which is also taken into account at this stage. We will come to this later, though.
The equation Betfair uses is as follows:
Net Winnings x 5% x (1- X% Discount Rate) = Commission
For example, let’s say you were to place a bet on a Premier League game and you were to enjoy net winnings of £40. In this instance you don’t yet have a discount rate. The commission you pay would be calculated as follows:
£40 x 5% x 1 = £2
This therefore means the commission you’d pay would be £2 and therefore take winnings of £38.
If you were to lose the bet, you would not pay any commission. However, you do still earn Betfair Points.
Discount Betfair Exchange Commission Rates
Discount is offered to customers in the Betfair Exchange. This is based around the number of Betfair Points you have earned.
Betfair Points are given to customers every time they play, with players earning 1 Betfair Point for every 10p in commission paid. Losing bets also earn Betfair Points based upon the commission that would have been paid.
How much discount is offered is then determined by how many points you have, building up over time.
Discounts begin when you reach 1,000 Betfair Points, where 2% is discounted. To earn a 10% discount you must have earned over 7,000 points.
This is then subtracted from your commission. So, using the example above, let’s add the discount rate to determine calculate a new commission.
£40 x 5% x (1 – 10%) = £1.80
Therefore, you would enjoy a 20p lower commission fee in this case.
Discount Rates are Offered As Follows:
2%: 1,000 Points
4%: 2,500 Points
6%: 4,000 Points
8%: 5,500 Points
10%: 7,000 Points
12%: 9,000 Points
14%: 11,000 Points
16%: 13,000 Points
18%: 15,000 Points
20%: 17,000 Points
22%: 19,000 Points
24%: 21,000 Points
26%: 23,000 Points
28%: 26,000 Points
30%: 29,000 Points
32%: 32,000 Points
34%: 36,000 Points
36%: 40,000 Points
38%: 44,000 Points
40%: 49,000 Points
42%: 55,000 Points
44%: 61,000 Points
46%: 67,000 Points
48%: 73,000 Points
50%: 80,000 Points
52%: 88,000 Points
54%: 96,000 Points
56%: 108,000 Points
58%: 126,000 Points
60%: 150,000 Points
Unless you have completed Betfair’s identity and verification requirements, discount will be capped at 20%.