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Hello GeeksToy Users,
The reason for this post is to inform you that we have been studying the impact on our product and on our business of the activities of API users. We have noticed over the past year the increasing influence of such users who take offers made by other users while rarely making offers for other users to take. This has the impact of reducing the available liquidity for normal retail users.
Following this review, we decided to change the way in which we charge commission to customers using the Betdaq API.
This scheme is currently on a voluntary opt in basis for any GeeksToy users, unless already contacted.
From March 1st 2011 we introduced a new commission structure that operates for API users as follows:
BETDAQ will operate a scalable commission structure whereby the greater the proportions of offers you make that are taken by others, the lower your rate will be. Commission will continue to be charged on your market winnings from any single market.
The standard commission rate is 5 per cent, but you will be able to bring that down to as low as 1 per cent depending on your activity Take/Make % over a rolling 7 weeks period.
How it Works
(MatchedStake/TotalForsideStake) = Backerstake when user is the backer or Layer of a selection.
(TakeMatchedStake/TotalForsidetakestake) = This is where a user takes an available bet from the site, rather than placing an offer onto the site.
N.B. “Rate” in the example below in any week i.e. (3.5% in Week 1**) is the rate that will be effective for all orders placed during the following week. In the example below therefore, in week 1 the customer would pay 3.00% and in week 2 would pay 3.5%
Additional information
1.Promotional commission offers are not available to API customers.
2.All customers who wish to use Betdaq via an API must accept the new commission structure and the amended terms and conditions.
If you require any further clarification or information regarding how these changes will affect you please ensure to contact us at apiinfo@betdaq.com
Alternatively we will look to respond to any questions or queries on this thread.
Kind regards.
BETDAQ API Team
The reason for this post is to inform you that we have been studying the impact on our product and on our business of the activities of API users. We have noticed over the past year the increasing influence of such users who take offers made by other users while rarely making offers for other users to take. This has the impact of reducing the available liquidity for normal retail users.
Following this review, we decided to change the way in which we charge commission to customers using the Betdaq API.
This scheme is currently on a voluntary opt in basis for any GeeksToy users, unless already contacted.
From March 1st 2011 we introduced a new commission structure that operates for API users as follows:
BETDAQ will operate a scalable commission structure whereby the greater the proportions of offers you make that are taken by others, the lower your rate will be. Commission will continue to be charged on your market winnings from any single market.
The standard commission rate is 5 per cent, but you will be able to bring that down to as low as 1 per cent depending on your activity Take/Make % over a rolling 7 weeks period.
How it Works
- At the end of each week (0400 Hrs Monday) your Take/Make % over the previous seven weeks will be calculated and your commission rate will be updated on the scale shown below.
- New customers will automatically enter at the 3% rate.
- Users with no activity over a 7 week period will be deemed to be 100% Take for their next active week.
(MatchedStake/TotalForsideStake) = Backerstake when user is the backer or Layer of a selection.
(TakeMatchedStake/TotalForsidetakestake) = This is where a user takes an available bet from the site, rather than placing an offer onto the site.
N.B. “Rate” in the example below in any week i.e. (3.5% in Week 1**) is the rate that will be effective for all orders placed during the following week. In the example below therefore, in week 1 the customer would pay 3.00% and in week 2 would pay 3.5%
Additional information
1.Promotional commission offers are not available to API customers.
2.All customers who wish to use Betdaq via an API must accept the new commission structure and the amended terms and conditions.
If you require any further clarification or information regarding how these changes will affect you please ensure to contact us at apiinfo@betdaq.com
Alternatively we will look to respond to any questions or queries on this thread.
Kind regards.
BETDAQ API Team
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