Betfair does take a percentage of winnings in the form of commission. This means that if you make a net profit on a market, you will be charged a commission based on your winnings. However, if you have a net loss on a market, you will not be required to pay any commission.
The commission is calculated by multiplying your net winnings by the Market Base Rate. The Market Base Rate is the standard commission rate set by Betfair for each market. The specific rate may vary depending on the market you are betting on.
It is important to note that Betfair applies a discount on the commission for customers based in certain countries. This means that the actual commission charged may be lower than the calculated amount based on the Market Base Rate. The discount is applied to provide a more favorable commission rate for customers in these countries.
Unfortunately, the specific countries eligible for the commission discount are not specified in the information provided. It would be best to refer to Betfair’s terms and conditions or contact their customer support for more information on the countries eligible for the commission discount.
In my personal experience, I have found that Betfair’s commission structure is fair and transparent. The commission charged is based on actual winnings, so if you have a net loss on a market, you will not be penalized with any commission fees. This provides an incentive to make informed betting decisions and manage your risks effectively.
Betfair’s commission on net winnings is a standard practice in the betting industry. It is important for bettors to be aware of the commission rates and any applicable discounts, as this can impact their overall profitability.