BetFred take 14% more off gross!

[KasinoKing]

I just got this e-mail from BetFred:

Dear Mark,

We're writing to inform you that as of October 1. 2011, we have made an adjustment to our calculation of Net Casino Revenue and Net Poker Revenue at Betfred Affiliates. This adjustment reflects the correction of an omission in our previous net casino revenue and net poker revenue calculations, with regards to certain direct variable costs associated with these products use (specifically payment processing fees, royalties and taxes).


As such, you will now see that 15% of gross casino revenue and gross poker revenue is deducted as a cost in the calculation of net casino revenue and net poker revenue respectively (whereas previously only 1% was deducted).


We understand that this change may have a negative impact on your earnings. We hope that you will understand that these are real, direct variable costs which affect our incoming profit from our casino and poker products, and in accordance with the Betfred terms and conditions (see item 6 - Payment https://partners.betfredaffiliates.com/terms_and_conditions.asp), they should be accounted for in the calculation of net revenue. In order to continue to offer our competitive commission rates with no negative carryover, it is essential that we correctly account for costs in the calculation of net revenues, on which these commissions are paid.

If you have any questions or concerns about this change, please do not hesitate to get in touch with our affiliate team. We value your partnership immensely and look forward to working with you through the remainder of 2011 and in the new year.

Thanks

The Betfred Affiliate Team

Not that I'm bothered - I've been promoting them for 3 YEARS and earned precisely $0.
Another one for the trash can!

KK

 

[Guard Dog]

In order to continue to offer our competitive commission rates with no negative carryover, it is essential that we correctly account for costs in the calculation of net revenues, on which these commissions are paid.

This DEFINITELY does not allow them to offer a 'competitive commission rate'. Seriously, who is going to buy into this PR fluff. Get out while you still can.

 

[dfiocch]

I just got this e-mail from BetFred:



Not that I'm bothered - I've been promoting them for 3 YEARS and earned precisely $0.
Another one for the trash can!

KK

;D

Trashed two months ago...

 

[xecutable]

Received their email as well. I talked to them as well. From what I understood, this has been mentioned in their T & C but has never been applied until now.

So basically while there's no change in the T & Cs the charge kicks in as of now. I am not the one to judge whether or not it's correct or justified. Everyone has their own views on whether they should continue or discontinue to promote them.

 

[Aussie-Dave]

Everyone has their own views on whether they should continue or discontinue to promote them.

The gaming field is diffinately getting smaller and smaller with whom you can trust not to stick it to you.

 

[xecutable]

The gaming field is diffinately getting smaller and smaller with whom you can trust not to stick it to you.

Right, but they said this has been in the T & C's for a long time, that charge of theirs. It just happens that it kicks in now.

 

[Aussie-Dave]

but they said this has been in the T & C's for a long time, that charge of theirs. It just happens that it kicks in now.

Agreed.

So now BF will deduct 15% ($150 for ever $1,000) in gross gaming.

Whilst I understand there are costs involved and deduction to be calulated to arrive at Net Gaming (unless I've missed a break down of these fees), BF does not individually itemise these deductions.

IMO it's a moot point if this 15% has been in ther T&C's from the get go becuase with out transperancy in what affiliates lose, it will probably be seen as just another gaming group screwing affiliates.

 

[xecutable]

Someone has calculated it, I did not check the math, but comes down to -4.5% or a 25.5% rev share.

 

[casdir]

The gaming field is diffinately getting smaller and smaller with whom you can trust not to stick it to you.

You said it so well AussieDave Or as my friend likes to put it, its like the pond is getting smaller, and there are more fisherman to compete with lol

Things never stay the same though, i'm sure the gambling industry will get better over time.