Exchange Games
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16 Aug 10
14:48
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Date Joined:
17 Jun 07
Spoke to a guy in the exchange games team, asked him about exchange games and asked if "Betfair" provides liquidity. He
said that betfair provides " a small amount of inititial liqudity in the first round of every game" they do not fix games because (a) it would not be possible to do so and (b) it would result in betfair losing their licence if they did fix games
He further said that "their are thousands of people playing at any one time", "if we wanted to fix games , then how would it be possible", "their is'nt a person or persons involved in the process of deciding the outcome of a run of cards"
Hope this helps thouse who feel that betfair is in some way at fault
said that betfair provides " a small amount of inititial liqudity in the first round of every game" they do not fix games because (a) it would not be possible to do so and (b) it would result in betfair losing their licence if they did fix games
He further said that "their are thousands of people playing at any one time", "if we wanted to fix games , then how would it be possible", "their is'nt a person or persons involved in the process of deciding the outcome of a run of cards"
Hope this helps thouse who feel that betfair is in some way at fault
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I don't believe some of that reply.
It's quite ridiculous to suggest that Betfair only provide a small amount of liquidity, where is all the liquidity coming from? It certainly isn't from your average punter. It is impossible to get any liquidity into the games, unless you are Betfair, or someone working very closely with Betfair and perhaps using their robots. |
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Grunweld.
Maybe you're right but does it matter ?. If ( say) you could be an odds maker at the beginning of any of the games, would you in fact provide any different starting odds ? I think not, unless you think they are mathematically off ? So what's the difference ?. Are you saying that the games would be fairer if there were a number of "mug punters" setting the opening odds ? If so, fairer to whom ? |
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Well it would make it more like a true exchange, if mug punters could offer bets at more attractive odds. But I didn't mean that, it simply is impossible to get any money into the markets at the best odds with all the Betfair money and have any hope it will evenly matched.
If it were a real exchange you should be able to do that: back at lay odds and lay at back odds, but at the start of each round all the money is already in place so any added by the average punter will hardly ever get matched since it will be at the end of the queue. You will see that at the start of each round after the opening round, the cards are dealt then there is a delay while the Betfair robots calculate the odds and then place their own money in the markets. I don't believe there are any independent market makers left. |
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I agree that exchange games is a bit of a misnomer.
But really, it doesn't make a lot of difference in the end who are the mkt. makers. If BF wasn't in their with their powerful bots, somebody else ( smarter than all others) would be in there at the front of the queue believe me. It's all semantics really. |
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I agree its all just semantics, so why do Betfair feel the need to lie about the source of the liquidity? This is my real gripe. If it makes no difference as you suggest, then they should just state that all early liquidity is provided by them. Even the fixed brigade on here can see that in R1 of all the games exactly the same amount of liquidity is available every game (well except for a few games tonight when I put a few extra quid in - all unmatched of course)- but Betfair still maintain they only have a minor role - what a laugh.
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Yep. If you don't laugh you'll just cry.
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It's equally funny that all this removes one of main arguments against the fixed theory - that they couldn't fix them because all the independent mm's would leave the games - QED.
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Never heard that argument before.
Look you know, I know, that BF doesn't need to fix the games, because the mathematics are in their favour without the need for any fixing. QED. |
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So Betfair manage the odds through a bot ?
Is that it in a nutshell ? |
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I'm not sure if that's the nutshell, but BF calculate the odds in order to display them on their site and the API service. Other bots may also calculate the odds independently and place money in the markets at those prices. My main argument is that the independent aspect of the games is now almost non-existent, so that in essence the games are no different to on-line Casino card games. But if the games are truly random, it doesn't really matter who calculates the odds and provides the liquidity.
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One footed pony.
BF sets the odds through a bot. It doesn't manage them. Grunweld is simply saying that no other bots can get a look in. But if they could the odds would be no different. Just a different set of mkt. makers would then be coining it. To the avg. punter it makes no difference at all. Always remember, this is not sports betting where there is room for variation of opinion on the correct odds. In Xgames there is only one right price and it is always quoted with the spread against you. Just live and deal with it, or don't play the games. |