Big news for many of you! Betfair rewards have just changed in a big way for everyone…
Yesterday they went main-stream with their tri-level rewards plan. Until now it was only available to a select pocket of customers (as a trial). Depending on your activity type, you’re now able to choose a rewards plan to fit account activity.
For aspiring traders, this is a pretty big deal with a 2% offering on the most liquid betting exchange. All the specifics are explained below.
Betfair Rewards Changes:
The changes are pretty clear, laid out in the table below…
To select your rewards plan, you’ll need to opt-in via the destination listed below:
Login to Betfair.com > My Account > Promotions & Rewards > My Betfair Rewards
A word of warning; be careful in your decision as it may not be easily reversed!
As of the 1st of October, you have 30 days to select your plan. After this, you will be enrolled in the middle tier by default. This plan is reflective of the standard Betfair Commission rate.
For anyone serious about trading, you’ll almost definitely want to select the new 2% plan.
Rewards Changes for Trading…
As traders, the revised rate of 2% is a big change to the bottom line (unless you’re a premium payer). The benefits far outweigh the chance for a few free spins on the casino…
The nature of trading ensures users turn over a large number of bets. Even on lower stakes, the numbers add up. By lowering the rate it leaves more in the end-users pocket, potentially increasing the amount turned over. So it begs the question – could this increase liquidity?
Possibly, although I don’t think it’s likely to in a massive way…
If nothing else, Betfair just put the brakes on growth for smaller competitors aiming to offer a lower-commission model. Now there’s the option to use a highly liquid exchange and get a lower rate.
For anyone that’s matched betting this is also a hefty perk, particularly when trying to get bets matched earlier in the day. It’s win-win.
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