My Betfair Rewards – New Betfair 2% Commission

This month, Betfair released a new rewards program which gives Betfair Exchange customers multiple options as to the rewards they can receive and commissions they will incur.

Originally rolled out to customers in Ireland, ‘My Betfair Rewards’ is now available to UK customers and accessible via ‘My Account’ > ‘Promotions & Rewards’ > ‘My Betfair Rewards’.

In this section, there are three reward plans:

1. Rewards+
2. Rewards
3. Basic

Next, we’ll be taking a look at what you get and don’t get with each reward plan so that you can select the best plan for you.

You will pay 2% commission on net winnings in Exchange markets. Any Exchange discount rate you would normally receive due to your Betfair Points will not apply while you are opted in to a package. You will no longer be eligible for Sportsbook or Exchange promotions. Risk Free 20: New customers only, bet up to €20 on the Exchange and if your first bet loses, we’ll refund you €20 in Cash. Bet must be placed in first 7 days of account opening. T&Cs apply.

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1. Rewards+

10% Refund on Losses

Should you make a loss on your Exchange bets in a calendar month, Betfair will refund 10% of your losses. You will receive the refund on the first working day of the following month.

£10 Free ACCA Every Month

Each month, you will receive a £10 free bet to use on an accumulator.

Cash Race + Extra Prizes

By selecting Rewards+, you will be eligible to participate in the Betfair Cash Race. You’ll also be eligible to receive enhanced prizes if you win.

2 Free Plays on ‘Beat The Drop’

Beat The Drop is a Betfair game where you select your stake and the number of questions you would like to answer. You’ll be given a set amount of money (pot) to use on your questions. The game will start off with the first question and you can choose the amount of your pot you would like to bet on that question. You can either bet your entire pot on that question or a portion of it. If your bet loses, you lose the amount of your pot you gambled on it. You then move onto the next question and repeat the process. Any money left in your pot once you have answered all of the questions is yours to keep. Questions vary but some examples may be ‘Will both teams score in the England v Germany match?’ or ‘Will Man Utd be winning at Half Time against Arsenal?’

If you select the Rewards+ option, you will get 2 free plays on Beat The Drop.

8% Commission

As you get a number of rewards with Rewards+ as mentioned above, you will pay 8% commission on net winnings in Exchange markets. This is greater than the standard Betfair commission rate of 5%.

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2. Rewards

£5 Free ACCA Every Month

If you choose the ‘Rewards’ option, you will receive a £5 free bet to use on an accumulator each month.

Cash Race

You will be eligible to participate in the Betfair Cash Race. However, unlike with Rewards+, you will not receive enhanced prizes if you win.

1 Free Play on Beat The Drop

You will receive 1 free play on Betfair’s ‘Beat The Drop’ where you could win up to £32,000.

5% Commission

You will pay 5% commission on net winnings in Exchange markets. This is lower than with the Rewards+ option as you are receiving less additional benefits.

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3. Basic

No Access to Betfair’s Cash Race

By choosing the ‘Basic’ option, you will not be eligible to participate in the Betfair Cash Race.

No Best Odds Guaranteed on Sportsbook bets

You will not be eligible to receive Best Odds Guaranteed on any of your horse racing, greyhound or other bets placed on the Betfair Sportsbook.

No Promotions

You will not be eligible to participate in promotions which include Betfair’s 3/1 horse racing offer or their ‘Money Back if Odds-On and Loses’ offer.

2% Commission

As you are excluded from promos, you will pay a lower commission. You will pay 2% commission on net winnings in Exchange markets.

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Below is a table summarising the benefits of each reward plan.

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Which Reward Plan Should You Choose?

The Betfair reward plan which you choose depends on how you plan to use Betfair. With the Reward+ and Reward plan, you get benefits such as being eligible for promotions, free ACCA bets each month and free chances on Beat The Drop. However, you will also pay a higher commission rate compared to the Basic plan.

Betfair are the largest betting exchange in the world and as such, the liquidity in their markets is usually much greater than at other exchanges. This is the main reason why many have chosen to use them over the years instead of their competitors. One downside of Betfair has been their commission which is generally set at 5% compared to other betting exchanges such as Smarkets which is set at 2%. However, now customers have the option of using Betfair and taking advantage of their increased liquidity on markets with a lower commission rate. Many matched bettors have expressed their delight at the option of paying just 2% commission at Betfair despite not being eligible for Betfair promotions.

It’s up to you which reward plan you choose but if you are a matched bettor and regularly place lay bets on Betfair Exchange, or struggle to find liquidity in markets at other exchanges where you are paying 2% commission, then the Basic plan may be the best option for you.

You will pay 2% commission on net winnings in Exchange markets. Any Exchange discount rate you would normally receive due to your Betfair Points will not apply while you are opted in to a package. You will no longer be eligible for Sportsbook or Exchange promotions. Risk Free 20: New customers only, bet up to €20 on the Exchange and if your first bet loses, we’ll refund you €20 in Cash. Bet must be placed in first 7 days of account opening. T&Cs apply.

 

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Betfair Rewards FAQ

How do I choose a reward plan?

Simply log into your Betfair account, click on ‘My Account’ > ‘Promotions & Rewards’ > ‘My Betfair Rewards’. You will then have the option to select one of the three plans. After selecting a plan, confirm your selection and it will be applied.

When does my plan take effect?

Your Exchange commission rate will take effect immediately. If you select the ‘Rewards+’ or ‘Rewards’ plan, your free bets, 10% refund on losses and your free Beat The Drop games will be credited on the 1st working day of each month.

Can I change my plan?

Yes. Once you opt into a reward plan, you will remain on that plan until you choose not to be. However, if you would like to change plan, you can contact Betfair’s customer service who will apply the change. Changes in plans will take effect on the first day of the following month.

I have a commission discount due to my Betfair Points. Will it still apply?

Any Exchange discount rate you have due to Betfair Points will not apply while you are opted into a Betfair Rewards plan.

Is there anything else I need to know?

Be aware that T&C’s apply to all packages and that you should read these before choosing a plan. For example, a minimum number of Exchange bets are required to qualify for some of the benefits included in the ‘Rewards+’ and ‘Rewards’ plans.