If anyone is still in any doubt that this premium charge can be beaten, then the latest developments shown on the Betfair Premium Charge Fiasco group should make you sit up and take notice. There is an article there by Calvin Ayre, discussing how Betunfair's share prices are continuing to drop alarmingly to a record low. It has now become clear that this is partly do with a lack of consumer confidence i.e. the backlash against the premium charge. It also now seems certain that Betunfair introduced this new charge now, in a desperate attempt to try and claw back the losses from their disastrous dabbling in the stock markets.
So let there be no doubt that if the guys who are due to pay this increased levy are to up and leave, it will frighten the life out of Betunfair, as they need the extra revenue. The Facebook page has now gone 'underground', with a group of big players now about to engage in talks with Betdaq. As I've written before, this is exactly what I feel needed to happen and it's great to see that the action being taken is really having an effect. It's certainly a smack in the face with a wet fish for all those negative dullards who said that nothing would happen! Next week should be very interesting, as meetings are due to take place, including with Betdaq and an open day from Smarkets, a new betting exchange.
If you've never heard of them, take a look at their Facebook page. From what I've heard from them so far, they seem very much like Betfair once were, 10 years ago and are keen to get input from any traders about how to build their exchange. Ok, they are just starting out and aren't a viable alternative to Betunfair yet but it just goes to show that if Betunfair don't get their act together, it will leave a gap in the market for a proper exchange and Smarkets could end up taking over in future. I'd change the name first though fellas - not sure about 'Smarkets' at all!
So it will be very interesting to see what happens in the run up to July 18th. Don't be fooled by the fact that nothing has appeared to have drastically changed when you open up your ladders each day. Behind the scenes, Betunfair is in the midst of a crisis and it could be about to get a whole lot worse if they don't reverse their position on the PC. The revolution continues!