Jump to content
Announcements
** December Poker League Result : 1st muttley, 2nd LIKE2FISH, 3rd kevsul **
** Football Tipster Competition Result : 1st Like A Roughie, 2nd Paperclip, 3rd Kingdom for, 4th Alastair, 5th Gray306 **
** December Naps Competition Result: 1st BARNSLEYCHOP, 2nd SADDLESORE, 3rd ZIDANE123, 4th ADAMROSS. KO Cup Winner BBBC, Most Winners: JCW **

Smarkets 3% commission


Recommended Posts

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 by mark50
Link to post
Share on other sites

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".

Link to post
Share on other sites
  • 2 weeks later...
5 hours ago, freddie01 said:

That seems crazy harry_rag, Maybe worth emailing that example to them for clarification?

Nope, seems clear enough to me and doesn't impact me, mainly because I don't have an account with them! :lol

They reckon that 99.8% of their customers will be on the standard commission rate of 2% of net profit in each market so totally unaffected by this. The remaining 0.2% will be mainly high volume traders. Anyone looking to trade in that style will just have to factor that commission basis into their calculations before deciding whether a given trade is worth it or not.

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
×
  • Create New...