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. Our Betfair’s commission and fees review not only tells you more about Betfair’s commissions but we also give you a breakdown on what commission fees actually are. Our bookmaker review will shed some light on the matter so you can know a little more about what commission fees are.
📱Why do Betfair charge commission fees?
As we mentioned, you will have to contend with commission fees on the betting exchange site but the question many punters ask is “why do Betfair charge commission fees in the first place?” There are a couple of reasons as to why but only one that matters. Our reviews take a closer look at what that reason is and why Betfair are well within their rights to charge commission fees.
💳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. Our review of the Betfair commissions and fees will tell you exactly how the commission fees are structured and what percentage you can expect to pay for certain sporting and racing events and betting odds.
How are the commission fees calculated?
Commission fees aren’t just pulled out of thin air, so is there a Betfair commission calculator of some sort? Our review analyses how Betfair comes up with the commission percentages so that you can better understand why you are paying the fees in the first place. We’ll also cover which payment methods are accepted at the Betfair Exchange.
Are there any other fees on the site?
Once you know a little more about commission fees on the Betfair site you will need to know a little more about what other fees you may encounter. Our review of the Betfair fees checks out whether or not you will need to pay any transaction fees or any other fees for betting on the site. We leave no stone unturned in our bookmaker review.