Ladbrokes Exchange

I remember representative's of the large bookmakers appearing on the morning line many years ago when betfair was first starting to hurt them..they were totally opposed to exchanges..tool of the devil

how times change....bookmakers seem a bit clueless when change is needed..they seem to have sat back initially and just expected Betfair to fail so they can just get on with doing what they did for eons before..they got left behind and looked like dinosaurs when making those anti exchange appearances

Betfair..whether we like it or not... has got a massive foothold now .

Is it possible for someone to seriously compete with them?..i can't see it
 
EC1 said:
Is it possible for someone to seriously compete with them?..i can't see it
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A big downside which will, I think, discourage the heavy hitting players and traders from migrating to Ladbrokes is the lack of a viable API for the exchange at the moment such as GeeksToy or BetAngel. (Maybe there is one, but I don't see it). Betdaq can be accessed via API, but not Ladbrokes. An API is quite essential for serious trading or large volume betting. Ladbrokes need to develop one asap, or get a third-party specialist firm to do so.


Doomster, an interesting linked article.
However, I notice it was published in 2008. In recent months Betfair have been exposed as most certainly running a matching bet Bot -- something they had previously denied. They tied themselves up in knots trying to deny it -- then when forced by conclusive evidence to the contrary they were embarrassingly forced to contritely admit it.
 
Betfair are in a hole, they spent 47mil on legal and public affairs in 2012 (mainly legal action against Greece (worth 17mil a year) & Cyprus who continue to exclude BF from their markets) along with 10% less punters in 2012, the loss of the German market (due to 5% govt tax) the 30mil loss on LMAX, I could go on, let alone their share prices 50% down from the original floatation price

Their turnover although increasing year on year in 2010 we had an increase of 13% 2011 8% and 2012 5.5%

Their entry into fixed odds was In effect turning the company that had once proudly proclaimed the death of the traditional bookmaker, into a fully fledged bookmaker.

The betting exchange model failed ???

So maybe LB can take a share of the exchanges on the back of BF's decline.
 
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Too true. Have to agree with all of the above.

Anadin said:
The betting exchange model failed ???
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Or was the exchange model -- the Betfair exchange model -- corrupted by the managements lack of focus and their complacency about the core Betfair exchange. Also their complacency about how much financial "pain" that customers would take to use the exchange.
Betfair drifted into arcade games and casino slots; introduced a fixed odds Sportsbook that always underbets the odds of the stand-alongside exchange prices.
All of this definitely alienated clients, but even worse was the Premium Charge to nail the coffin for many succesful players. "Winners Welcome" is a farce when boasted in light of the Premium Charge. The overnight markets are now a wasteland on Betfair; the high-value whales who made markets have left -- nobody can turn a profit if paying 40% ( and even 60%) commission on gross returns.
 
Looks like we have the first bit of exchange action.

All the books gone 7/4-6/4 on Standing Ovation with Betfair (21K) trading around 2.54, yet Betdaq (28K) are a constant 3.9.

The betfair price is on the drift as the arbers are taking action.
 
Good spot ! Thanks for the heads-up. :thumbsup:
I've played .............. all the way down to 3.5 on Ladbrokes and up to 2.75 on Betfair.
Most profitable indeed.
 
Anadin said:
The betting exchange model failed
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The most accurate thing said on here in ages. It has totally and utterly failed.

The whales ate the minnows and now there are no minnows which is what any market requires. Why do you think large betting totes like Hong Kong have started to turn against professional syndicates? Well informed money eventually takes from mug money and eventually, there are no mugs left. The exchange model simply accelerates this process due to the tighter margins in play for the shrewder individuals.

Ladbrokes exchange will be closed within 18 months. Can't believe they are wasting their time on this.

Even fixed odds bookmakers don't use Betfair to price up racing anymore, they use overnight pricing and let the odd sharp cookie do it for them by letting them have £40 on. The only people who use Betfair are the on course bookmakers to form a show on course because they don't have the trading abilities to form their own market nor is their enough liquidity in the ring at most meetings.

The game has long gone but to suggest a struggling bookmaker opening a betting exchange is the way forward is beyond laughable. It would be like Blockbusters starting to flog minidiscs to get out of bother.
 
After the **** up on betfair last night, cancelling 2 matched winning bets, I was a bit wary.

Horse has been impressive, but there are resons for laying it.

What I don't get is surely there are cross matching bots that should have taken the lot ??
 
Absolutely !!!
I felt the exact same after you posted it up -- this was so far out of kilter that I strongly suspected there must be some aspect that we overlooked. But no -- nothing that I can see; no non-runners on one exchange but showing as runners on the other, etc etc.
If all is well, then this is the arb of the year so far.

But why didn't the bots get involved?
(I remember 3 years ago there was huge bloodletting inflicted on the bots when one Betfair voided a race result but Betdaq ruled it was a valid result and settled bets. Bots layed the winner and lost all on Betfair. Maybe the bots were permanently retired after that fiasco. :)).

Anyway, I feel cnfident enough about this one.
 
doomster said:
After the **** up on betfair last night, cancelling 2 matched winning bets,
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Really?
Bummer.

I too was on Betfair when it went mental. Like yourself, I had a couple of winning bets which showed as matched. However, they were not credited to my account until about ninety minutes later ............... but they were credited.
Maybe check betting history and account statement again, no?
 
One or more of your bets, placed on the market has been voided/lapsed by Betfair. Whilst these bets were all placed in good faith, in order to be fair to all users we have had to void/lapse them
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Seems to happen a lot now when there is a crash. Knowing my luck, next time it will be an arb on the final leg of an acca; the horse will get beat a nose and the arb will be cancelled.
 
It looks like the SO price was held at 3/1 for 30 minutes.

My pot shot guess is it's a Ladbroke's initiative to increase liquidity. All the other markets are normal for Betdaq levels.

I am a very bad guesser though.
 
But a sizeable discrepancy is still there 2 hours on. 3.0 Ladbrokes -- 2.48 Betfair. :blink:
Not as huge an arb as when you kindly posted, but still a decent arb none the less.
Very, very strange.
 
Someone has just put €8,000 as a Lay at 2.99 into Ladbrokes two minutes ago. :blink:
Best current available to back at the moment on Betfair is €50 at 2.60 on Betfair.
Is a whale swimming around in the Ladbrokes 13:05 market? :)
 
It now looks like they are trying to hold the price at 2/1. Hopefully be evens by 1.00 am.

Iv'e just taken some more but the price matched hasn't moved, so I'm starting to think it's a **** up.

"If it's too good to be true".

Got an early train to catch, so interesting to see what happens in the morning.
 
Same here, ............. I'm feeling a slight queasiness about it all.
There's something not quite right.

Despite great temptation to do so, I shall not take any more out of it.
 
Looks like the 2nd round of action has ended. 2.78 with nothing in the lay column as opposed to the constant 8k at .02 higher.
 
Yeah, both getting close to parity now.
Sanity is starting to prevail.

Great fun while it lasted tho', ............. and fruitful ! :)
 
Gamla Stan said:
The most accurate thing said on here in ages. It has totally and utterly failed.

The whales ate the minnows and now there are no minnows which is what any market requires. Why do you think large betting totes like Hong Kong have started to turn against professional syndicates? Well informed money eventually takes from mug money and eventually, there are no mugs left. The exchange model simply accelerates this process due to the tighter margins in play for the shrewder individuals.

Ladbrokes exchange will be closed within 18 months. Can't believe they are wasting their time on this.

Even fixed odds bookmakers don't use Betfair to price up racing anymore, they use overnight pricing and let the odd sharp cookie do it for them by letting them have £40 on. The only people who use Betfair are the on course bookmakers to form a show on course because they don't have the trading abilities to form their own market nor is their enough liquidity in the ring at most meetings.

The game has long gone but to suggest a struggling bookmaker opening a betting exchange is the way forward is beyond laughable. It would be like Blockbusters starting to flog minidiscs to get out of bother.
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Great post but skightly inaccurate on one point. The accounts following the exchanges are correcting most firms prices for a bet to win £/£15 overnightI I would think Ladbrokes and Hills are less exchange driven overnight but most firms will have customers cutting horses for them for less than buttons. I backed a horse overnight once that I'd imagine only I was backing and bets with various firms to win €6k from prices ranging from 12/1 down got into a top price 6/1. Overnight gambles my bollocks!
 
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