Exchanges.....are there any credible alternatives to Betfair?

Grasshopper said:
B&L was killed-off by the new Gambling Act and the cost of a securing an appropriate licence, as I recall.
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Poor guy, is that what happened? Pity he couldn't get funding from the venture capitalists to cover the extra costs, but I guess the dotcom boom had busted by then and investors were wary. I vaguely recall him moving to Stan to head up a proto-exchange of theirs, but, a quick look at his LinkedIn profile tells me he is now working as a cabbie ( or specifically a "private hire driver").
I'll give him massive respect for trying what he did, and succeeding in building a very advanced piece of kit. He's got the smarts to come back and pioneer something again.

I had an account with Backandlay -- I liked it for its "clunkiness" style of user-interface -- but never used it due to the poor liquidity and Betfair's beguiling seduction. :(
 
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To be honest, it was all a bit vague in the end, Icebreaker.

I used to correspond with ID fairly regularly on the defunct (I think) punters-paradise forum, and I got the impression that after much thrashing around with the DCMS, he was going to have to find a six-figure sum to get an operating licence. Whether ID had any potentials background funding options is lost on me, but he pulled the plug on the website in fairly short-order, and effectively went off the Matrix (or the one I inhabit, at least) therafter. I think he may have been on the Board of Basingstoke FC around that time too, but I may have imagined that part.

Agree that he was a swashbuckler though - shame he didn't quite crack it.
 
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SlimChance said:
You'll at best break even on exchanges and even that will be hard work.

http://www.betangel.com/forum/viewt...id=21710dc9bbf78f7a5b15b120551a2200&start=150
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I'm 3 grand up in 3 weeks..with a starting bank of 50..how is that breaking even?

You are saying you can only break even on there...thats you that you are talking about..its not a statement of fact about everyone.

Its like me saying i can't make the jumps pay..which i struggle to..so its impossible..yes..for me it is..others though.. may be not
 
EC1 said:
I'm 3 grand up in 3 weeks..with a starting bank of 50..how is that breaking even?

You are saying you can only break even on there...thats you that you are talking about..its not a statement of fact about everyone.

Its like me saying i can't make the jumps pay..which i struggle to..so its impossible..yes..for me it is..others though.. may be not
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You're a clever lad. When was one man ever proof of anything and when was 3 weeks ever an extended period? You can't beat Betfair long term with the commission rate, that is a fact. Where else would you bet into efficient markets and believe you can make money in the longterm?
 
Grasshopper said:
What latest exchange?

It's two pages of a guy called James being told to settle down, due to him being bottled by Smarkets. What did I miss?
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Smarkets is an exchange without a liquidity. It just has bots to mirror Betfair. Whats the point of that?
 
So....is yer man betting with Smarkets bots who are betting into the Betfair exchange on his behalf, and it's ultimately Betfair that have KB'd him?

Or have Smarkets seeded their own liquidity (but are tracking BF price movements), and they've been getting shafted by the James character, because he's smarter than their Market Makers?
 
icebreaker said:
And that is the great benefit in it -- or would be if it didn't break down so often. Surprised you cannot see that.
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I can see it but the thread is about a plausible alternative to Betfair rather than a penny pinching exercise!
 
Grasshopper said:
So....is yer man betting with Smarkets bots who are betting into the Betfair exchange on his behalf, and it's ultimately Betfair that have KB'd him?

Or have Smarkets seeded their own liquidity (but are tracking BF price movements), and they've been getting shafted by the James character, because he's smarter than their Market Makers?
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Basically like all exchanges they are a mickey mouse outfit who will never rival Betfair.
 
SlimChance said:
I can see it but the thread is about a plausible alternative to Betfair rather than a penny pinching exercise!
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Fair enough.
It would be happy days if it wasn't so unreliable -- Betfair prices at 2% comm.
But the downside is that it is so undependable, and it has that curious habit of accepting a bet and that bet not showing on your screen. So you go and back it (or Lay it) again to find that when the race gets underway that you have backed or layed the hoss twice. Facepalm.
 
icebreaker said:
Fair enough.
It would be happy days if it wasn't so unreliable -- Betfair prices at 2% comm.
But the downside is that it is so undependable, and it has that curious habit of accepting a bet and that bet not showing on your screen. So you go and back it (or Lay it) again to find that when the race gets underway that you have backed or layed the hoss twice. Facepalm.
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In theory if you could back horses at equal too or better than the Betfair SP (near the off for minimum price fluctuations against you) at 2% commission you could grind out a profit.
 
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Grasshopper said:
So....is yer man betting with Smarkets bots who are betting into the Betfair exchange on his behalf, and it's ultimately Betfair that have KB'd him?

Or have Smarkets seeded their own liquidity (but are tracking BF price movements), and they've been getting shafted by the James character, because he's smarter than their Market Makers?
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Smarkets quite some time ago entered into a Faustian pact with its one-or-two market makers who seed all the money and whose bots price up at Betfair prices.
The bottom line to this agreement was that the market maker would not lose monthly. Only way for Smarkets to guarantee this from happening is for them to close the account of any "ordinary" consistent winner who would be hurting their market-maker "associate".
 
icebreaker said:
Smarkets quite some time ago entered into a Faustian pact with its one-or-two market makers who seed all the money and whose bots price up at Betfair prices.
The bottom line to this agreement was that the market maker would not lose monthly. Only way for Smarkets to guarantee this from happening is for them to close the account of any "ordinary" consistent winner who would be hurting their market-maker "associate".
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Mental. I'd ******* love that arrangement!
 
I'ld imagine if you had the provable assets, the owner of some similar exchange with otherwise non-existent liquidity would be glad to discuss terms with ya. :rolleyes:
(about ten mill sterling to provide a decent level of Lay in all markets should be enough).
 
I'm happy lurking in the dark corners with you and the other sewer rats picking the books off.
 
Speaking of free money.

2.44% available on the PDC darts 1st round

JELLE KLAASEN (EVS Coral)
V
CHRISTIAN KIST (11/10 William Hill)
 
One free-money heads-up deserves another in reply. :rolleyes:

Bet a tenner with Paddy on the daags at Hove tonight -- lay it -- and get a free bet of another tenner for Henlow.
 
SlimChance said:
Speaking of free money.

2.44% available on the PDC darts 1st round

JELLE KLAASEN (EVS Coral)
V
CHRISTIAN KIST (11/10 William Hill)
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That's what I like about you, Slim - you've always got your thinking-cap on.

I took a few positions on the Worlds around the time of the Grand Slam. Will post them up on the Arrers thread.

Very illuminating, Ice.
 
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Grasshopper said:
That's what I like about you, Slim - you've always got your thinking-cap on.

I took a few positions on the Worlds around the time of the Grand Slam. Will post them up on the Arrers thread.

Very illuminating, Ice.
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Yeah lets go talk some darts!
 
I've looked into MatchBook ................. and have to say I like what I see !
Excellent liquidity, especially on English Soccer, NBA and NFL.
Good tight odds -- well on a par with Betfair's.
And standardised 1.15% commission on winnings, a little less on losing stake.

To answer the thread title, I do believe this is a "viable alternative to Betfair". :)

I'll be signing up later today -- through the banner at the top of the TH page obviously.:o
 
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