Lifetime Premium Charge

Well, the premium charge is now calculated based on the lifetime of your Betfair account. For me, it means I slip back into the premium charge net.

Since doing all the bet365 offers earlier this year, my total charges based on the original 60 week rule, was consistently hovering around 25%, which meant that I escaped the dreaded charge and my 'allowance' remained where it was having been whittled down to around £280. Having checked my premium charge statement this week, I've noticed two things...

Firstly, my total charges are now sitting below the 20% marked which means the premium charge kicks in. I'm not sure why this is the case I'm not sure as my Betfair account has never been inprofit until around 12 months ago. It wasn't until I started trading that I started winning. Until then, my account was some £2.5K (if memory serves me correctly) in the red. When the lifetime rule was announced, I was expecting my total charge figure to go up, not down.

Secondly, my 'allowance' has now gone up to £802.72. I have no idea why it has gone up from under £300 to this, somewhat arbitrary figure. I'm sure there must be an explanation, so if any of my readers care to enlighten me, I'd be grateful.

The point now is that I need to start looking at ways of reducing this chance of the premium charge taking money from my account. This is especially true that things seem to have picked up again as the P&L for this month shows.

From what I've seen, the only way that this can be achieved is by arbing. Not without it's risks of course, but it looks like I'll have to spend some time resurrecting all the old bookie accounts that I have let wither on the vine over the years.

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