A transaction is each bet submitted to a market regardless of it being matched or unmatched, Betfair limit all users to 1000 transaction per hour after which they can impose a few pence charge for each one above 1000 for the remainder of that hour.
Transactions are counted each clock hour so are reset at 11am, noon, 1pm, 2pm and so on.
Bet amounts that are below £2 are counted and shown as two transactions on the counter.
Bet Angel keeps count of the number of transactions you do per hour and displays this for you at the bottom right of your screen.
Bet Angel - Technical Support
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