Betfair overhauls UK commissions with new rewards scheme
Exchange users will pay 8%, 5% or 2% commission depending on their selected rewards system
Betfair has launched a new rewards scheme in the UK which allows punters to choose their preferred commission rate, bonuses and special offers.
My Betfair Rewards – originally trialled in Ireland – lets punters pick a commission rate of 8%, 5% or 2%.
https://twitter.com/gamblinglamb/status/1179077777573793793?s=20
The 2% rate, in line with competitors Matchbook, Smarkets and Betdaq, offers the fewest extra benefits, with no access to promos and no best odds guaranteed on the sportsbook.
The exact details appear to vary by customer, but some customers who opt for 5% will receive a £2 free accumulator every month and five free spins in the casino, as well as access to the Cash Race cash-back scheme and one go on free-to-play (F2P) game Beat The Drop.
The 8% commission rate grants users a 10% refund on losses, a £5 free acca each month, 10 free casino spins and two goes on Beat The Drop.
Betfair UK joins the rest of the exchange world on 2%. This will be interesting https://t.co/2RPFL8exgT
— Brad Allen (@BradAllenNFL) October 1, 2019
Following the initial trial of the scheme in Ireland, CEO Peter Jackson said it had led to an increase in player engagement, with no fall in commission.
“We will be ramping up free bets on the exchange, to help us compete more directly with low margin sportsbooks and address a historic weakness perceived by our customer base about offering promotions,” Jackson added.
Betfair parent company Flutter today announced the near-£5bn acquisition of The Stars Group.