Thoughts On Interbet - Part 1

I use Interbet from time to time. I really like it but it has a couple of severe shortcomings. I am going to put my thoughts and ideas 'out there' in two parts as there might be too much for clan members to absorb in one posting........

Interbet might not be aware of it but their charge structure creates a disincentive to striking large bets online and may, therefore, ultimately constrict their future growth. Consider the following :

A winning bet incurs the statutory 6% betting tax whilst Interbet levy a further charge of 3% for their service. This amounts to a total of 9% levied against winning bets only. So on a winning bet where R1,000 is due Interbet earn R 30. Although not cheap this can be deemed as reasonable for the 'facilitation' of (hopefully!) matching a bet.

Where it starts to get ugly is when a bigger amount is won. No additional 'service' is levied yet the percentage remains the same. Clearly it would be better under these circumstances to pick up the phone and call your bookmaker as a R10,000 winning bet is going to cost you R 300 just to transact.

Interbet will contend that their 'better odds' more than make up for the costs. This may well be true in some instances. But not always. And it quickly becomes apparent that the odds on offer do, in fact, need to be better just to cushion the cost of the transaction.

Clearly there is a need to introduce either a sliding scale of charges or a cap per bet; failing which Interbet have little or no chance of attracting large bets to their site.

What do other clan members think?

Agreed - sensible argument

Betfair have a sliding scale for bigger punters re: commission is less for the big hitters. I will ask Interbet to consider and will try and get feedback.

They also charge 14% vat on the 3% - it seems petty

I can't afford those big bets so I can't comment.

However, the luxury of playing online and "No Cash Problems" is something to consider.
Deposit, place bet, two or three minutes later the race has been run, withdraw winnings and pour a large JWB.

Simplicity and peace of mind.

Enjoy !!!

Hi Wally, are you still alive and kicking? how is the horse.

Hi, ex bookie Scotia,

I thought the letters JWB would wake you up. Lol.

City Belle is just fine but no futher news of an intended run.

I always read your UK selections for the day. Why don't you start a UK Back and Lay daily selection for the Clan. You have all the experience so put it to good use. Also co-opt Jamster for input. Ouzo.

When Clan Classique starts making the frame, I'll be up to party.

Kind regards to Mrs. S.

Enjoy !!!

Morning Wally, I have a "cunning plan", why don't you just "lay" my selections and at least one of us will be a winner and probably it will be you!

I just wish they would scrap the 6% tax,never mind IB costs,could pay my bond off in 3 years