Betfred Affiliates - 15% deductions for casino and poker OFFICIAL

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Received today:

We're writing to inform you that as of October 1. 2011, we have made an adjustment to our calculation of Net Casino Revenue and Net Poker Revenue at Betfred Affiliates. This adjustment reflects the correction of an omission in our previous net casino revenue and net poker revenue calculations, with regards to certain direct variable costs associated with these products use (specifically payment processing fees, royalties and taxes).

As such, you will now see that 15% of gross casino revenue and gross poker revenue is deducted as a cost in the calculation of net casino revenue and net poker revenue respectively (whereas previously only 1% was deducted).

We understand that this change may have a negative impact on your earnings. We hope that you will understand that these are real, direct variable costs which affect our incoming profit from our casino and poker products, and in accordance with the Betfred terms and conditions (see item 6 - Payment https://partners.betfredaffiliates.c...conditions.asp), they should be accounted for in the calculation of net revenue. In order to continue to offer our competitive commission rates with no negative carryover, it is essential that we correctly account for costs in the calculation of net revenues, on which these commissions are paid.

If you have any questions or concerns about this change, please do not hesitate to get in touch with our affiliate team. We value your partnership immensely and look forward to working with you through the remainder of 2011 and in the new year.

Thanks

The Betfred Affiliate Team

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14% more in fees and taxes? Omg.