Hi, I have placed a bet with Bwin Germany at an 8€ stake and odds 2.00 . I won this bet and got paid out the gross profit of 16€ minus the betting tax of 5%. This equals 15.20€ and a profit of 15.20€-8€=7.20€ . However, Rebelbetting shows a profit of 7.60€ although I have 5% tax on profits activated in Bwins settings. Please help me understand why the profit in Rebelbetting is higher and if or how it affects EV.
only 5% of net profit will be deducted, so
8X2.00=16 and net profit=8,
tax=8x5%=0.4,
so you net profit after tax will be 8-0.4=7.6 EUR
So the Rebelbetting feature to deduct 5% isn’t accurate, because it deducts 5% from the net profit, instead of the gross profit?
For Bwin, you need to enter Stake in the dropdown. Like this:
We will be doing a deeper investigation on which tax different bookmakers use for Germans but it is proven difficult for us as we don’t speak the language, nor do we have access to German betting accounts.
@giantsteps420, do you think you could help us out with this? That is, checking what type of taxation that different bookmakers use if from Germany. Would be most appreciated. If so, PM me and we’ll get into the details.
I just so happened to stumble upon Bet365 details. If you win, they’ll take 5% of the profit, including stake, If you loose a bet, its just a loss. I.e. you won’t have to pay 105 euro if you place a 100€ bet and loose. So i guess this equals 10% of profit in the VB settings, if i understand the VB settings correctly.
Example: place 100 Euro bet on 2.00 odds you win, youll be paid 190, of which 90 is the profit.
tax on stake it not working. When bets are graded it shows profit as it would be without tax. This has to be fixed please.
Still hasn’t.
that’s not correct at all and works only for your specific example.
Say you bet 10€ at 1.90.
The return (stake + profit) is 19.
Bet365 will tax 5% on that which is 0.95€, so you will get 18.05€.
If you set 10% on the profit, it’s 0.9€ to be deducted, so the tracker will show a return of 8.1€.
It’s only 5 cents but do that for say 10K win bets it’s already a big difference