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[grizzly bare] 29/1/2011 00:09

Back to falling knife status I fear!

[grizzly bare] 28/1/2011 14:46

Betfair Facing Exclusion From Italy
27 Jan, 2011 / GamblingCompliance Ltd. / Graham Wood


A court decision in Rome this week makes it likely that the UK betting exchange Betfair will now lose its licence to operate in the booming Italian betting market.

[monty9] 28/1/2011 13:30

Why does a bot harm the chances of a 'customer'? what they typically do is place a bet and lay inside the current price, narrowing the margin and (slightly) improving the odds for the punter.

And most punters lose, does anyone know what proportion? I recon over a year it might be i.r.o. 90%. The corolary is the winners tend to make a lot.

[e-venturer] 27/1/2011 21:57

I great the impression that betfair has lots of issues that still need tweaked.

Firstly, I feel their reputation has been damaged on a number fronts. The constant drip has turned people away.

Secondly the prices and markets are identical to those offered by other bookmakers.

Some markets are overrun with bots. Now can anyone give me the correct percentage of betfair users that make a profit? And then what is the churn rate of customers?

Key questions and I think this will be what ultimately finds betfair out.

[midasmonkey] 23/1/2011 20:51

A vast amount of the trading on betfair is arbitrage, with the same gambler backing and laying maybe many times on the same race for small gains.

You cant even lay at a normal bookie !

Plus betfair is a one stop solution with prices that are almost always as good as the industry best, with good liquidity. No need to try to put bets on at one of 20 or 30 bookies to find the best price, that cant always be done in reality.

[trentendboy] 23/1/2011 19:51

Why would any professional gambler not take the 3% advantage. Over a year on a series of large bets it works out to be a lot of money.

Watching carefully

[e-venturer] 22/1/2011 16:20

That's excluding commission so it's less than 5% at best it would be 3%.

[trentendboy] 22/1/2011 09:33

5% better is a lot for a profesional gambler.

[2oracle] 21/1/2011 22:45

aint much truth in the bookmaking industry,but i can assure you bookies will show you the door very quickly if they dont like your bets,basically they have given up on horseracing,pushing their ex clients to betfair

[e-venturer] 21/1/2011 22:43

The point I was making earlier is that on betfair there is still a bookmaker/punter or layer/backer situation. Those in the know will do well but how long can those who don't win keep going?

Therefore it is inevitable that as people bow out there will be fewer layers to replace them resulting in limited liquidity or poorer odds. The decline is obvious already. Just the same as bookies restricting bets.

todays meeting at lingfield 5 out 7 odds were less than 5% better than industry and wolverhampton was 3 from 7.
What would the ASA have to say about it?

[e-venturer] 21/1/2011 18:46

The about does not make much sense. WHy would a bookie restricted someones bets when they have lost just £300? Something just doesn't add up in that case.

Betfair's get claim is "Get better odds" which is not exactly true. Is it?

[tabber] 21/1/2011 17:14

Topped up my short yesterday, but on June instead of March. The chart looks ripe for another move down now. If you believe that sort of thing.

[freddie01] 21/1/2011 10:44

Quote:
Originally Posted by sansan
Hello,

This might be a fairly naive question but I am not that experienced.

I have been betting for 6 months now with some success. With some bookmakers I have managed to win about twice as much as my total deposits.

Sportingbet has now started to restrict my betting to 10 pounds per bet for most bets.

Boylesports won't let me bet online anymore it seems. I had to call them to bet on the Huddersfield game today and they offered me to place a maximum bet of 1,30 (pounds).

We are not talking huge loses here. The above mentioned bookmakers have lost about 300 pounds because of me since I started.

Is this normal? Should I just leave these companies? I have won far more with bwin and Pinnacle and there are no problems there.

Any experience?

Regards,

M.
...................................................

I think it is pretty standard now in the industry that if you win money from a bookmaker then your account will come under review in some form. Realistically I would expect every kind of business has something in place that tries to make a company more profitable than it was last year.

This can result in you either being heavily restricted or your account being closed.

To be honest this is just the way it is for people who work in the industry, the only people who seem to not have any understanding of this direction is people who have no industry experience, or worked in high street shops ''back in the day''. If a bookmaker is confident that you will not be profitable to them as a company then surely it just makes sense to just stop you betting with them by whatever means.

If a trader of a certain sport loses money over a period of time, (sometimes as little as two months) then the harsh reality is that they will lose their job in the current climate.

People who do not work in the industry really have no idea how times have changed in recent years, and have struggled to move on from the days when a bookmaker had to take every bet that was put in front of him.

It does sound a bit harsh that you have been restricted after winning what is really a relatively small amount of money. But it would suggest that your type of betting has been recognised very early as an unprofitable type of business for a bookie, do you know of any reason why (apart from winning) that your business may be viewed as an unprofitable type to a bookie?

If you haven't got a betfair account yet then all I can suggest as zapata says is just get one.

[freddie01] 21/1/2011 10:39

e-venturer - the betting forums are littered with successful punters moaning about bookmakers refusing or limiting their bets to such a low level it's not worth the effort.

[2oracle] 21/1/2011 09:59

that is because anyone with half a clue cannot get a bet on with the bookies

[e-venturer] 21/1/2011 00:00

Over todays 3 horse meetings by betfair's own admission you would have got worse odds on the winner of 6 out of 20 races and thats before commission. Taking into account commission (5%) 11 out of 20 races were worse on betfair.

[e-venturer] 20/1/2011 16:06

I think bookies don't mind winners. They like to be in the know and can always lay off liabilities to other bookies.

Anyway look at william hill's results shows betfair has seen off the "traditional" bookmakers yet.

[midasmonkey] 20/1/2011 10:06

wjccghcc - any chance of a brief description of your strategy on befair ? Are you arbing money from on-course racing bookies ?
Is there still as much liquidity as you require ?

[2oracle] 19/1/2011 20:53

wjccghcc wrote
Commission is only 5% for infrequent users - for regular users it's 2-3%

gotta disagree,i am on it fulltime,i have a sub account of a master account,tens of thousands turned over every week,yet the lowest we can get commission down to is 2.5%

[freddie01] 19/1/2011 20:14

You also need to remember that bookies don't like winners and will soon limit your stakes.

[e-venturer] 19/1/2011 18:08

Site's down for a planned maintenance ;) Second one today!
Technology huh.

[midasmonkey] 19/1/2011 14:30

Who let the bulls out !