What Are The Betfair Commission Rates?
Commission rates can be a curious thing especially if you are new to the idea of using a betting exchange. If you are looking to join a betting exchange with nominal commission rates then Betfair is the place to be.
The Betfair commission rates will vary depending on the sport or racing events you choose but they are always wholly transparent on the site. If you are looking to stick to the more popular sports then you’ll only need to pay 5% commission rates on your winning bets. Keep reading to find out more about the Betfair commission rates.
Betfair Commission Rates Australia – how much commission does Betfair take?
If you have decided to start betting with Betfair then you may run into something you haven’t seen or dealt with before in commissions. So, how does Betfair commission work? Every bet that you win while playing on Betfair is going to be deducted a certain amount to be paid to Betfair as commission. This is essentially the only real fee that you will run into on the site.
The Betfair commission Australia rates will vary depending on the sport you bet on or the markets you go with. These commission rates are called the Market Base Rates (MBR), you can see exactly what the commission percentage is on a market you want to bet on by clicking on the “rules” button. As we said, the percentages can vary but you can generally expect your commission rates to be between 6% – 10% for Australian thoroughbred, harness and greyhound racing. This is where you will definitely need to check out the rules to see what commission rates a certain market will have.
Aside from that, we found that the commission rates for all other sporting events and international racing markets stay at a steady 5%. They may vary from time to time so be sure to check out the rules for these markets as well. However, from what we could gather it seems that the 5% commission fee is fairly consistent. You can always check out the detailed transaction charges page on the site to learn about the various commission fees before you make a
Betfair payment.
Why do Betfair charge commission fees?
You may be wondering why you would have to pay a Betfair fee on your winnings in the first place. The answer is simple. Betfair is not like your average betting site because they are a betting exchange. This means the wagers taking place aren’t between Betfair and the punter but rather between the punters themselves. The reason Betfair takes a commission from winning bets is because that is the only real way the bookmaker makes money.
The commission rates never seem to go higher than 10% and for most of your average sporting events it’s only 5%. These are nominal fees for the service that Betfair provides for its users. Furthermore, the bookmaker will even provide a Betfair commission discount on your winning bets. They have been known to go as high as a 60% discount on your commission in the past. It’s for reasons like this that so many Australian betting lovers chose to bet with Betfair.
Conclusion – Low commission fees across the board
Betfair is one of the biggest betting exchanges in the world and it’s easy to see why with their reasonable commission fees and commission discounts. In comparison to other betting exchanges you won’t find many better options for low commission fees. The site itself is fantastic so the fact that you are only having to part with a percentage as low as 5% from your winnings seems more than fair to us. If you are looking for a fairly price betting exchange then we highly recommend checking out Betfair.
Betfair Commission Australia
FAQ
❓What are commission fees?
Commission fees can be a pesky cost that you run into on betting exchange platforms. A specific sum will be subtracted from each wager you win when using Betfair, and this amount will be sent as commission to Betfair. This is essentially the only real fee that you will run into on the site.
📱Why do Betfair charge commission fees?
The answer is simple. Betfair takes a commission from winning bets is because that is the only real way the bookmaker makes money. Unlike your average betting site, Betfair deals on
betting exchange. This means the wagers taking place aren’t between Betfair and the punter but rather between the punters themselves. So, the commission fees earns them money.
💳What are the commission rates at Betfair?
The Betfair commission rates tend to vary depending on the sporting markets you opt for and different types of racing events. For Australian thoroughbred, harness, and greyhound racing, you can generally expect commission rates between 6% and 10%.
🤨 How are the commission fees calculated?
The commission fees can vary, typically not exceeding 10%, and are usually around 5% for most sporting events. In order to calculate commission fees, Betfair applies a percentage to your net winnings. You may also be interested to know that Betfair offers commission discounts, which can be as high as 60%, reducing the overall fee you pay on your winning bets.
🤔 Are there any other fees on the site?
Apart from the commission fees on winnings, which typically do not exceed 10% and are often around 5% for most sporting events, there are generally no additional fees for using the site. You can also check out our
bookmaker review
where we leave no stone unturned.
