Betfair Rewards Plan
At the beginning of October 2019, Betfair introduced a brand new rewards program which gives all customers the choice of three plans, each with various benefits including a new lower commission rate of just 2%!
Since Betfair Exchange launched back in 2000, it has been considered the biggest and best betting exchange by many in terms of available markets and liquidity. One aspect of Betfair Exchange which has perhaps let other betting exchanges compete in the market is their above-average commission rate of 5%. However, with the new Betfair Rewards program, customers can get a new lower rate of just 2% along with additional benefits depending on the plan they choose.
Customers can choose one of three plans with the basic details of each plan being listed in the table below.
Betfair Rewards Plan App
In such cases Betfair will not credit any free bets or rewards. BTW, you can change the reward plan basically at any time; just FYI. Betfair Contact Preference. Betfair Reduced Commission E-mail. Betfair originally started 2% commission option in January 2019 by informing it by e-mail like below. PPB Counterparty Services Limited, having its registered address at Triq il-Kappillan Mifsud, St. Venera, SVR 1851, MALTA, is licensed and regulated by the Malta Gaming Authority under Licence Number MGA/CRP/131/2006 (issued on 01 August 2018). PPB Counterparty Services Limited, Betfair Casino Limited, PPB Entertainment Limited, PPB Games Limited and TSE Malta LP are licensed and regulated. My Betfair Rewards – a new commission structure for exchange customers. Betfair has introduced a new commission structure in the form of a scheme entitled ‘My Betfair Rewards’. In recent years, new entrants into the exchange market have undercut Betfair’s commission rate in an attempt to wrestle business away from Betfair.Until now Betfair has held their position on commission charges.
As you can see, there are pros and cons for each plan. With the Basic plan, you get the low commission rate of just 2% but you are excluded from promotions. With the Rewards and Rewards+ plans, you get access to promotions and some additional benefits but pay a higher commission.
Below is an image which may help you compare plans and decide which one is right for you.
We expect the majority of Betfair Exchange users to opt for the Basic plan due to the huge difference in commission rates. If you’re a matched bettor or trader then it’s likely that you’ll be making a large number of lay bets on a daily basis and a difference of 3% commission is additional profit on each trade. There may be a small number of customers who do not place a large number of exchange bets and choose to participate in some of Betfair’s promotions such as their 3/1 horse racing offer on ITV races which is very popular. These users may opt for the middle ‘Rewards’ plan which isn’t too different to what the majority of customers were getting prior to Betfair releasing Betfair Rewards.
How to Choose your Betfair Rewards Plan
Betfair Rewards Plan Sign Up
Betfair Rewards was introduced at the beginning of October 2019 and customers have until 31st October to select which plan they would like to be on. If you do not select a plan before this date, you will automatically be enrolled onto the Rewards plan and as this is similar to the terms prior to Betfair Rewards, you shouldn’t see much difference apart from the addition of a £5 free Acca bet each month and the other perks listed in the table above. However, if you don’t select your plan before the end of October, don’t panic as you can change which plan you are on simply by contacting Betfair support.
To select your plan, simply log into your Betfair account and head to the Betfair Rewards page by clicking on ‘My Account’ > ‘Promotions & Rewards’ and then on ‘My Betfair Rewards’.
You’ll see the three available plans along with details of what you get with each one. Simply click on the ‘Select Plan’ button next to the corresponding plan and you will be enrolled onto that plan. The exchange commission of the plan you select will take effect immediately and so if you chose the Basic plan, you can enjoy 2% commission from that point onwards.
Should you wish to change the plan you are on at any point, simply contact Betfair support who will action the change. Change of plans can be requested at any time and will take effect onthe 1st day of each month.
Betfair Rewards Summary & Additional Information
Betfair Rewards Plan Account
1. You have until the end of October 2019 to select a Betfair Rewards plan. If you do not select a plan before this time, you will automatically be enrolled onto the ‘Rewards’ plan which has a commission rate of 5%
2. If you wish to change your plan, contact Betfair support. Changes to plans take effect on the 1st day of each month.
3. If you currently receive a discounted rate on Betfair Exchange to Betfair Points, this will not apply whilst you are opted into a Betfair Reward plan.
4. In order to receive the additional bonuses such as the Free Acca Bet and the 10% Refund on Losses, you must meet the minimum bet requirements each month. You are required to place bets in at least 20 Exchange markets each month to receive the rewards.
5. The maximum amount you can receive each month from the 10% Refund on Losses perk is £100.
6. Refund on losses and free bets are credited on the 1st of each month should you be eligible to receive them.
If you haven’t received an email, click on the following link to learn more: –
To navigate directly to choose a rewards plan visit here: –
Special deals
Betfair Rewards Plan Login
For some time I’ve been aware that Betfair had been making a few offers to different customers. But this has been based very specifically around certain types of account activity.
The net effect of this was to balance out a number of different incentives and rewards for the different types of activity on the exchange. But most of these have been net neutral in terms of their impact on individual accounts and the amount of commission that has been paid. There didn’t seem to be any pattern and it applied to horse racing as much as cricket. But it did seems to be selective from an account perspective.
There were individual promotions as well, but detail on them and why there were offered was a bit sketchy.
Betfair rewards
About one month ago we started getting reports that Betfair had initiated a program called a ‘rewards plan’ where customers could choose to fix their commission in return for additional incentives or lack thereof. Curiously this wasn’t reported by customers in the UK and it seems to replace the Betfair points and switch it to a
At first, it looked like this was being specifically offered to particular customers but referring information on their website appeared to show it had been in place at least since June. Quite a few reports were coming in despite the offer not appearing to be generally available. You can see the discussion in the forum: –
No exceptions? Apart from Premium charge payers!
I’m not aware of any particular exceptions but if you are aware of any then I will add them to this blog post for the benefit of anybody that arrives here. Of course, if you are a higher rate premium charge payer this is a bit of an irrelevance. Whatever deal I choose to sign up on, will always get topped up to the higher rate of premium charged that I have to pay each week.
However, for the vast majority of users. I would imagine that there is an incentive to be to sign up to one of these particular schemes. The basic rewards plan basically excludes you from any interim promotions but gives you a 2 per cent commission on net winnings on Betfair exchange markets. I am sure that this will be attractive to many people. The other two schemes give you varying commissions and varying incentives to take up additional offers that take place.
It looks like it will allow you to switch to one of these plans. So it’s probably worth doing fairly immediately. That doesn’t appear to be that many terms and conditions applicable. However I noticed on one email that I didn’t get that it was implying that the ability to change plans looks to expire at some point in the near future.
However, the ability to switch plans before this date has set appears to be the case. So even if you make a mistake it looks like you can actually change backwards and forwards between these commission plans before the lockdown date.
If you’re interested in learning more about this and the impact on your trading and the potential impact on the exchange come in and have a chat on the forum thread that’s been very active now for some time on this thread. Everybody is discussing this particular move by Betfair and the likely impact on their own peer tells and on the activity on the exchange.
Best Betfair Rewards Plan
Join in the discussion here: –
The race to the bottom?
It is interesting to see this move as it seems to signal a shift in Betfair’s betting exchange strategy. A comment in February 2018 indicated that Betfair would not follow the rush by other betting exchanges, such as Betdaq, Smarkets and Matchbook to lower commission rates.
However, I’ve noticed that volumes have been slipping on key markets for some time and this has accelerated in 2019. Betfair have actually stopped publishing data on indiviudal markets. But because I record and archive data on all markets I trade I can see all market changes first hand.
While a move to lower commision doens’t benefit me at all, as a higehr rate premium charge payer. I’d imagine it should have an impact on some markets by encouraging a bit more activity. I’m hopeful that this will happen, but open minded enough to sit and wait to see if it feeds through into the numbers.
Driving growth in Betting exchanges
If the move is to counter offers by other exchanges, it’s a welcome sign that competition does have an impact can drive future growth.
This move may hurt other betting exchanges, particular the Betdaq exchange who have invested money to promote themselves as the 2% commission exchange. I remember commenting to them that if I was a competitior an easy way to undermine their proposition was to match it. As you would then trash the entire marketing message. That looks like it has come true.
It will be interesting to see where the market heads from there. Better pricing should keep people in the game for longer and allow people
Ultimately using exchanges as a pool to hedge into while skinning liquidity into punter friendy formats is the way I would use exchanges. The potential is there but not all aspects are being address, but a reduction in commision should make exchanges a better proposition, attractive and a simpler proposition again.