Betfair have said goodbye to the Premium Charge and replaced with the Expert Fee in a move that will half the number who pay and lower costs for others.

The Premium Charge has been replaced by Expert Fee Simpler pricing structure for big winners on Betfair Exchange

Expert Fee is a contribution paid by a very small number of the most profitable customers on the Betfair Exchange. It is implemented as a weekly top-up, in addition to the standard commission, ensuring that the total fees paid by a customer equate to a specified percentage of their gross profit.

Expert Fee is a smarter pricing structure designed so the amount you pay reflects your performance on the Betfair Exchange right now. Rather than just using lifetime profitability, the Expert Fee uses the gross profit from the last 52 weeks your account has been active to determine the rate that you will pay. It’s a dynamic fee structure that adjusts your rate with your profitability and can return back to 0% if you don’t always win at the same rate.

And what’s more, it is capped at 40%. No more 50% and 60% rates. This new approach more than halves the number of customers who generate any additional charges, lowering costs for many loyal, consistent winners.

This change to the implied commission calculation reflects that the average commission rate on the Betfair Exchange has reduced over the past years and is now approximately 2.5%.