Betfair to charge big bettors more

BETFAIR are to increase the charges on their most successful users to as much as 60 per cent of gross win next month in a move the betting exchange claim will protect smaller players using the site.

From July 18, Betfair will crank up the controversial premium charges faced by big hitters whose lifetime net profits exceed £250,000, who bet in over 1,000 markets, and whose commission generated is less than 40 per cent of their lifetime gross profit.

Betfair introduced the premium charge in September 2008 at 20 per cent, claiming it would cover costs incurred in providing the most successful punters with the platform to profit - the majority of which comes through trading and in-running punting.