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How to Calculate BetKing Virtual Commission

Calculate BetKing Virtual Commission – Betking is a sports betting brand that has rapidly gained popularity since its official launch in February 2018. It is now one of the fastest-growing betting companies in the world, especially in Nigeria.Information Guide Nigeria

Traditionally, the sports betting industry has relied on commissions based on profit. However, it is now shifting towards commission based sales.  It is important for agents and investors to understand that the business’s success depends heavily on high-volume sales.


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Therefore, it is crucial to focus on generating as many sales as possible in order to maximize commission and achieve success in the sports betting industry.

In this post, we will discuss how the commission works and what agents and investors need to know about it.How to Calculate BetKing Virtual Commission

Read Also: How to Become a Betking Agent, Requirements, Cost, Commission Structure and Benefits

Sport Bet Weekly Commission

Betking Sport offers a commission ranging from 1% to 30% on a weekly basis, which is the highest in the industry. This means that regardless of the outcome of the bet, you will receive a commission for every bet slip that you register. For example, if a punter places a bet of N10,000 on one game in a slip, you will receive a commission of N100. If the punter selects 15 games, the commission will be 16% for an N10,000 game played, resulting in a commission of N1,600 for the agent.20 best Women’s Earrings in Nigeria and their Prices

The type of customers you have will also impact your commission. If the majority of your customers tend to play low-risk games with only 1 to 3 selections per slip, it is unlikely that your commission will be as high as it would be if you had customers who placed bets with more selections. To address this, Betking Sport has introduced a monthly bonus share which is paid out on the last Monday of the month to agents who have achieved a minimum sales of N150,000. This helps to ensure that agents who may not have as many high-risk customers still have the opportunity to earn a substantial commission.

Read Also: BetKing Shop; How Do I Open a BetKing Shop Account?

Monthly Bonus Formula

The concept of the monthly bonus can be confusing for some agents. If you ask most agents what their thoughts are on the Monthly Bonus Formula, you’ll likely get this response “The monthly bonus is 25% of the profit I made for the company.” While that’s the theoretical truth, in reality, it’s not always the case. Many people misunderstand the formula, which can be written as follows:

MONTHLY BONUS = (TOTAL SALES – TOTAL PAYOUT * 0.25) – TOTAL WEEKLY COMMISSION RECEIVED FOR THE MONTH

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This means that Betking will pay you a bonus if 25% of the profit you made for the company that month is greater than the total commission you received on sports bets during the same month.

In other words, the monthly bonus is calculated based on the difference between your total sales, total payout, and total weekly commission received. If this difference is positive, you will receive a bonus. If it is negative, you will not receive a bonus.

It is important to understand this formula in order to accurately calculate your potential monthly bonus.20 Best Men Polos in Nigeria and their Prices

Read Also: How to Withdraw Money From BetKing

  TOTAL STAKE TOTAL PAYOUT COMMISSION RECEIVED
WEEK 1 50000 150000 5500
WEEK 2 340000 40000 39000
WEEK 3 250000 100000 26000
WEEK 4 150000 78000 17250
TOTAL 790000 238000 87750

 

Agent Bob’s records show that he had total sales of 780,000 for the month. His total winnings were 238,000 and his total commission was 87,750. Now, let’s apply the formula to determine whether he will receive a monthly bonus.NYSC Portal

Monthly Bonus = (790,000 – 238,000 * 0.25) – 87,750 = (138,000 – 87,750)

Monthly Bonus = 50,250

Based on these calculations, Agent Bob will receive a monthly bonus of 50,250.

  TOTAL STAKE TOTAL PAYOUT COMMISSION RECEIVED
WEEK 1 50000 150000 5500
WEEK 2 340000 40000 39000
WEEK 3 250000 100000 26000
WEEK 4 150000 360000 17250
TOTAL 790000 650000 87750

Agent John’s records show that he had total sales of 780,000 for the month. His total winnings were 650,000 and his total commission was 87,750. Now, let’s apply the formula to determine whether he will receive a monthly bonus.

Note: Agent John’s sales and commission are the same as Agent Mark’s. The only difference is that John’s winnings are greater than Mark’s.105 Good Morning My Love Messages

Monthly Bonus = (790,000 – 650,000 * 0.25) – 87,750 = (130,000 * 0.25) – 87,750 = 32,500 – 87,750 Monthly Bonus = -52,750

Agent John will not receive a monthly bonus because his monthly bonus balance is negative. This means that his total commission received for the month is greater than 25% of the profit made. In other words, his commission exceeded the profit he generated for the company, so he is not eligible for a bonus.

Read Also: BetKing Coupon Check; How to Check BetKing Coupon Code

Other Important Commissions You Should Be Aware Of

Virtual Commission

What you should know about the BetKing virtual commission:

  • Paid Every Monday
  • Based on the Number of events chosen per ticket
  • Based on Stake
  • Based on Settled Bets (i.e., all played bets)200 Romantic Love Message for her
  • It is not a fixed payment

League and BetKing Virtual Commission

What you should know about the League and BetKing virtual commission:

  • Based on the Market type
  • Based on the Number of events chosen per ticket
  • Based on Stake
  • Based on Settled Bets (i.e., all played bets)
  • It is not a fixed payment

Breakdown:
1 selection – 2%
2-3 selections – 4%
4-6 selections – 6%
Correct score – 6%
7 or more selections – 8%

Read Also: Betting Agent Commission; How is Betking Agent Commission Calculated

Weekly Virtual Bonus Commission

Based on Total Virtual Sales made from all the virtual products played

Sales Threshold:
Sales of 250k – 1 000 BonusJamb Portal
Sales of 300k – 1 500 Bonus
Sales of 500k – 5 000 Bonus
Sales of 1million – 10 000 Bonus
Sales of 1.5million – 15 000 Bonus
Sales of 2million – 20 000 Bonus
Sales of 3 million+ – 30 000 Bonus

Check JAMB Result

Check and Confirm: How much is Dollar to Naira

 

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Victor Alphonsus

Victor is a Content Developer at InfoGuideNIgeria.com. InfoGuide Nigeria is a team of Resource Persons and Consultants led by Ifiokobong Ibanga. Page maintained by Ifiokobong Ibanga. If you need a personal assistance on this topic, kindly contact us.

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