Smarkets 3% commission

[mark50]

With smarkets now charging 3% commission per each individual matched bet that settles ,winning bets and losing bets ,if you have earned more than £25,00 in a calender month.
Are these numbers correct?
I place a £200 back bet at 10.0 , then i place a lay bet on the same horse for £222.22 at 9.0 gving me profit of £22.22 .

The horse wins the race,
Back bet wins £200 x 10.0 = £1800 profit , smarkets takes £54 commission
Lay bet loses = £1777.78 loss, smarkets take £53.33 commission

Final profit/loss
£22.22
-£54
-£53.33
= -£85.11
So a profitable trade now becomes a loss?

 

Edited December 26, 2019 by mark50

[harry_rag]

https://help.smarkets.com/hc/en-gb/articles/212654665-Smarkets-commission-FAQ

In a nutshell I'd say "yes", based on the example given in the FAQ for placing multiple bets in a market.

My reading of the criteria for that rate of commission is it applies to "users who exceed £25,000 in net profit over the previous 12 calendar months".