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Hi All,
The documentation for Transaction Charges states the following :
What is a placed bet ? - Any bet that is matched, cancelled or lapsed.
So, does that mean that placing an order that is unmatched would not contribute to the 5000 limit ?
e.g If a selection was on offer to back was at odds of 2.0 and I placed a lay order at 1.8, it wouldn't contribute to the count ? As it is not matched, cancelled or lapsed ? Assuming it is subsequently matched when the market moves, it would then increment the hourly count ?
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7. Transaction Charges
7.1 This section only applies to the Betfair Exchange.
7.2 In addition to any commission payments, Betfair customers will be charged a transaction fee if they process a large number of transactions on the main Betting Exchange or on Exchange Games.
This charge is designed to limit inefficient transactional behaviour, particularly at peak times.
7.3 A ‘transaction’ shall include all bets placed and all failed transactions. Transaction Charges only apply to customers recording more than 5000 transactions an hour.
7.4 For the purpose of calculating Transaction Charges, an “hour” means a continuous period of 60 minutes based on the standard 24-hour clock system. Each new ‘hour’ will start at on the hour (e.g. 10:00:00) and finish at 59 minutes and 59 seconds past that hour (e.g.10.59:59).
What is placed bet?
Any bet that is matched, cancelled or lapsed.
What is a failed transaction?
An action that leads to an API error, resulting in a failed bet placement, failed cancellation or other failed transaction. Full descriptions of each failed transaction type can be found in the link below:
https://betfair-developer-docs.atlas...eportErrorCode
At the end of every day, we add up all the transactions you have recorded. If this number is in excess of 5000 in any hour of the day then (based on the 24-hour clock system) then we will multiply the exceeded amount by 0.2p.:
Any remaining amount will be charged to your account on a daily basis. Should your (commission) exceed this amount, you will not be charged a transaction fee. Accounts that relate to one person, entity, API subscription or a Master account (Trading version only) with related Sub accounts are treated as one customer for the purposes of transaction charging. Note transaction charges will not generate Betfair points or be offset against any Expert Fees.
The documentation for Transaction Charges states the following :
What is a placed bet ? - Any bet that is matched, cancelled or lapsed.
So, does that mean that placing an order that is unmatched would not contribute to the 5000 limit ?
e.g If a selection was on offer to back was at odds of 2.0 and I placed a lay order at 1.8, it wouldn't contribute to the count ? As it is not matched, cancelled or lapsed ? Assuming it is subsequently matched when the market moves, it would then increment the hourly count ?
-----------------------------------------------------------------------------------------------------------------------------------------------------
7. Transaction Charges
7.1 This section only applies to the Betfair Exchange.
7.2 In addition to any commission payments, Betfair customers will be charged a transaction fee if they process a large number of transactions on the main Betting Exchange or on Exchange Games.
This charge is designed to limit inefficient transactional behaviour, particularly at peak times.
7.3 A ‘transaction’ shall include all bets placed and all failed transactions. Transaction Charges only apply to customers recording more than 5000 transactions an hour.
7.4 For the purpose of calculating Transaction Charges, an “hour” means a continuous period of 60 minutes based on the standard 24-hour clock system. Each new ‘hour’ will start at on the hour (e.g. 10:00:00) and finish at 59 minutes and 59 seconds past that hour (e.g.10.59:59).
What is placed bet?
Any bet that is matched, cancelled or lapsed.
What is a failed transaction?
An action that leads to an API error, resulting in a failed bet placement, failed cancellation or other failed transaction. Full descriptions of each failed transaction type can be found in the link below:
https://betfair-developer-docs.atlas...eportErrorCode
At the end of every day, we add up all the transactions you have recorded. If this number is in excess of 5000 in any hour of the day then (based on the 24-hour clock system) then we will multiply the exceeded amount by 0.2p.:
- We will offset any transaction fee against the following amount:
(Commission Generated = (Commission Paid + Implied Commission) ÷ 2
where
Implied Commission = market losses x 3%
where
Implied Commission = market losses x 3%
Any remaining amount will be charged to your account on a daily basis. Should your (commission) exceed this amount, you will not be charged a transaction fee. Accounts that relate to one person, entity, API subscription or a Master account (Trading version only) with related Sub accounts are treated as one customer for the purposes of transaction charging. Note transaction charges will not generate Betfair points or be offset against any Expert Fees.
Example::
You are a Betfair Exchange user who pays commission generated of £2.10 throughout a given day.
However, between the hours of 14:00:00 and 14:59:59 you placed 4800 bets and recorded 3400 failed transactions, between the hours of 15:00:00 and 15:59:59 you placed 2250 bets and recorded 4200 failed transactions, but in other hours you recorded less than 5000 transactions. Your base transaction charge is (4800+3400-5000) X £0.002 + (2250+4200-5000) X £0.002 = £9.30.
Therefore you will be billed an additional £9.30-£2.10 = £7.20 on the following day.
You are a Betfair Exchange user who pays commission generated of £2.10 throughout a given day.
However, between the hours of 14:00:00 and 14:59:59 you placed 4800 bets and recorded 3400 failed transactions, between the hours of 15:00:00 and 15:59:59 you placed 2250 bets and recorded 4200 failed transactions, but in other hours you recorded less than 5000 transactions. Your base transaction charge is (4800+3400-5000) X £0.002 + (2250+4200-5000) X £0.002 = £9.30.
Therefore you will be billed an additional £9.30-£2.10 = £7.20 on the following day.