Changing the exchange commission | OddsMonkey Quick Tips
Betting exchanges make money by charging a commission on all winning lay bets. Exchange commission is factored into the calculations done by the OddsMonkey matched betting calculator, so it’s important to make sure you have the right rate set. If it isn’t, then this is the video for you. We’ll show you how to change the commission rate, based on the betting exchange you are using.
TRANSCRIPT:
Changing Exchange Commission.
The commission you pay at betting exchanges varies depending on which site you use to place your lay bets. Typically, Betfair is 5% and Smarkets is 2%.
However, there are scenarios where your commission may vary. For example, the commission rate may be different depending on which country you are betting from, you could have unlocked 0% at Smarkets with OddsMonkey Premium, or you may have lowered your commission using Betfair Rewards. Whatever the reason, it’s important that your OddsMonkey account settings are using the correct commission rate as this will make your lay bets calculate correctly, ensuring you are getting the best value from your bets.
Click ‘Tools’ in the OddsMonkey menu, go down to ‘Settings’ and then ‘General Settings’. In here, you’ll see a tab for ‘Exchange Settings’. This is where you can manually alter the default commission rate for the OddsMonkey tools. Set the correct commission rate and click ‘Save settings’. There are also a couple of other settings you may wish to alter. You can set which BetDaq site you wish to use: .co.uk or .com. You can also choose whether to use safe url links for exchanges . Safe URL redirects any clicks to bookmakers through a process that hides which site you have visited from. This helps to keep them from finding out you are an OddsMonkey member. However, there’s no real reason to use this for exchanges but you may want to turn it on anyway. Once you’ve clicked ‘Save settings’, you’re done.