Multiple Betfair accounts

[petercide]

No doubt answered elsewhere, but couldnt find it via the search:

I want to set up another betfair account to kep lays/backs separate. Reading thru the rules they dont seem too keen on this. Can I set one up with just a different card? If I do, is it wise to sign up again under my own referral code?

cheers in advance.

[presto]

they have no problem with you doing this as your 2nd account starts with 5% commish. the refer yourself thing won't work - it's in the terms and conditions.

[petercide]

sorry to be a n00b, but what do you mean about the 5% commision? Do I just sign up as a new account, ro do I specifically sign up as a 2nd account?

[presto]

you just sign up as normal for a 2nd account.

the 5% commission is the cut that betfair takes out of your winning bet's (have a look at your profit and loss and you will see).
the 5% commission rate is what all new account's start at, but as you bet more and more with betfair your commission rate can drop (to 2%).

having a 4% instead of 5% commission rate may not sound a lot but it all adds up.

[Win2Win]

I hate that difference between 2% & 2.1% :(

[petercide]

ah ok, makes a lot more sense. Much obliged gents!

[presto]

it may be a little more work, but setting up an excel spreadsheet with back's / lays - would be worth it, as you can use the 1 account and reduce the commission rate quicker. also all bet's should be recorded anyway so you have more detailed account's than just the betfair balance.