For the 18 years I‘ve been in this industry, there has always been an issue around revenue share and the deductions applied ahead of Net Revenue. Here at Kindred we have deducted third-party fees and charges as accurately as possible ahead of Net Revenue.
This means that we have never been able to disclose the specifics of the calculation to you because the % and/or value of some of these fees and charges are confidential.
35% administration fee at Kindred
So, we are changing how we handle deductions and introducing a 35% administration fee (10% in Australia) as of 1st August 2022. This administration fee will be applied to Gross Win, along with any applicable Tax rate, prior to deductions for bonuses, deposit and withdrawal fees and chargebacks.
To be clear, this administration fee % is not on top of any of our existing deductions.
This fee will replace how we currently apply some deductions by clearly defining what we deduct between Gross Win and Net Revenue, so that you now have better visibility on this calculation.
In due course we will be updating our Terms and Conditions to reflect this new change in the way that we handle deductions ahead of Net Revenue. You will receive an email about this update and then be prompted to accept these new Terms and Conditions when you log into NetRefer.