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Practice mode allows you to become familiar with all features of the software and to place practice bets at no risk. The market data is from Betfair but no bets are placed on the exchange when in this mode. As the data is from Betfair you will still need a Betfair account.
The premium charge is an additional charge which may be applied to a very small percentage (less than 0.5%) of our customers. The charge simply applies on accounts which make a persistant profit and meet a certain criteria.