Warning: Transaction charge

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Warning: Transaction charge

Postby milfor » Mon Jun 11, 2007 12:08 am

In the last days I played around with all the features of BA and my "Betting P&L" showed a plus. In the same time my available funds became not bigger but smaller. :shock:

The reason is the so called transaction charge. If you bet manually you never pay it. But if you let BA adjust your odds busily on many different markets then you may have so many transactions that you have to pay it. The "nice" thing about it is that you don't see it in "Betting P&L" at all and in your "Account Statement" it only comes up as "debit". So for the heavy users of BA it might be a good idea to scroll down their "Account Statement" if there is somewhere a "debit" instead of a betting event.

Of course it would be wounderful if there was something like a transaction counter in BA to avoid such problems in the future. But I am aware of the fact that other improvements of BA might have priority.
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Postby tkp » Mon Jun 11, 2007 4:40 pm

Milfor - could what you are referring to be the transaction fee for transferring money into your betfair account ?

Don't know where you are based but have a look here...

http://help.betfair.com/contents/itemId ... ex.en.html


?
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Postby GaryRussell » Mon Jun 11, 2007 5:18 pm

I believe milfor is referring to the transaction charge imposed if you make more than 1000 transactions in an hour, you are charged 1p per transaction over the 1000 using the API and 2p using the website. It has occured to me before to have a transaction counter and I am considering it for a future release. A transaction is counted as anything that produces a new bet reference so cancelling a bet does not count.
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Postby milfor » Mon Jun 11, 2007 6:40 pm

@tkp: No
@Gary: Yes. I am glad that you are considering it for the future.
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Postby tkp » Mon Jun 11, 2007 7:53 pm

Blimey - learn something new everyday !

1000 per hour !

What constitutes a transaction ?
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Postby tkp » Mon Jun 11, 2007 7:56 pm

Ok - I re-read Gary's post.....

A transaction is counted as anything that produces a new bet reference so cancelling a bet does not count.


:oops:

can we have the edit function back on the forum :wink:
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Postby milfor » Mon Jun 11, 2007 8:02 pm

A transaction is:

- Transmitting a new bet.
- Changing the odds of an old bet.
- Rising the stake of an old bet.

Not a transaction is:

- Cancelling a bet.
- Reducing the stake of an old bet.
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Postby Castillo » Sat Oct 06, 2007 2:15 pm

GaryRussell wrote:I believe milfor is referring to the transaction charge imposed if you make more than 1000 transactions in an hour, you are charged 1p per transaction over the 1000 using the API and 2p using the website. It has occured to me before to have a transaction counter and I am considering it for a future release. A transaction is counted as anything that produces a new bet reference so cancelling a bet does not count.


Gary

Are there still plans to include this?

Cheers
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Postby GaryRussell » Sat Oct 06, 2007 2:19 pm

Yes, sometime in November hopefully.
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Postby Castillo » Fri Feb 08, 2008 11:05 am

GaryRussell wrote:Yes, sometime in November hopefully.


Gary / Mark, Is there a chance of this being implemented please?

Just to let everyone know, if you exceed the number of bets per hour
your account is debited with NO warning or notification as Milfor
described in the original post. This becomes many a problem when you are testing trading strategies below minimum stakes.

Cheers
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1000 trans actions

Postby mantas779 » Sat Feb 09, 2008 10:15 pm

I realy calculting how many i make average per hour! :roll:
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Postby Muscolo Rosso » Sun Feb 10, 2008 5:30 pm

Castillo wrote:
GaryRussell wrote:Yes, sometime in November hopefully.


Gary / Mark, Is there a chance of this being implemented please?

Just to let everyone know, if you exceed the number of bets per hour
your account is debited with NO warning or notification as Milfor
described in the original post. This becomes many a problem when you are testing trading strategies below minimum stakes.

Cheers
Castillo


I am VERY interested in this feature.
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Re: Warning: Transaction charge

Postby Castillo » Tue Feb 12, 2008 2:56 pm

milfor wrote:In the last days I played around with all the features of BA and my "Betting P&L" showed a plus. In the same time my available funds became not bigger but smaller. :shock:

The reason is the so called transaction charge. If you bet manually you never pay it. But if you let BA adjust your odds busily on many different markets then you may have so many transactions that you have to pay it. The "nice" thing about it is that you don't see it in "Betting P&L" at all and in your "Account Statement" it only comes up as "debit". So for the heavy users of BA it might be a good idea to scroll down their "Account Statement" if there is somewhere a "debit" instead of a betting event.

Of course it would be wounderful if there was something like a transaction counter in BA to avoid such problems in the future. But I am aware of the fact that other improvements of BA might have priority.


Hi Milfor

Did you ever find a workaround for this, so you could actually count the bets made per hour?

Regards
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Host trans actions

Postby mantas779 » Wed Feb 13, 2008 7:51 am

BTW it is not strange that BF does this max. p/hour.
The real exchanges like EUREX and Euronext also have it .
otherwise quote machines will flood the lines . The servers to the matching engine has a MAX transactions it can send to the exchange.


GReeting
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Postby Captain Sensible » Mon Feb 25, 2008 3:20 pm

GaryRussell wrote:Yes, sometime in November hopefully.


Any news on this being implemented Gary ? I got stung a couple of days ago :( probably been charged a few times but never noticed it before as like Castillo said you don't get any notification and I doubt many of us go through our account statements when placing lots of bets.
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