New Posts For Thread: Betting Exchange Legal Questionhttps://community.betfair.com/general_betting/go/thread/view/94082/23469626/betting-exchange-legal-questionWhat's to stop me opening my own betting exchange with similar functionality to Betfair and manufacturing liquidity by using a bot to copy all the offers on Betfair onto the betting grids on my site?I'd make money two ways - through commision (I'd chYou would need a bookmakers licence to run an exchange, if you have that you can do what you like with it providing you don't breach your own T&Cs. The notion of an exchange is a bit of a fiction, when you strike a bet on betfair you aren't really behttps://community.betfair.com/general_betting/go/thread/view/94082/23469626/betting-exchange-legal-question?post_id=419159622#419159622You would need a bookmakers licence to run an exchange, if you have that you can do what you like with it providing you don't breach your own T&Cs. The notion of an exchange is a bit of a fiction, when you strike a bet on betfair you aren't really beSat, 28 Nov 2009 16:01:46 -0600Baz, shutting down winning accounts would help reduce costsAnyway my question is is it legal to put my own money into markets on my own betting exchange?https://community.betfair.com/general_betting/go/thread/view/94082/23469626/betting-exchange-legal-question?post_id=419159618#419159618Baz, shutting down winning accounts would help reduce costsAnyway my question is is it legal to put my own money into markets on my own betting exchange?Sat, 28 Nov 2009 15:32:07 -0600Firms populating their own exchanges will make errors in doing so that cost money, wrongly programmed bots etc. Not inc Betfair, none of the others are set up to make a trading profit or even come out flat so therefore must pay set up and fixed costshttps://community.betfair.com/general_betting/go/thread/view/94082/23469626/betting-exchange-legal-question?post_id=419159606#419159606Firms populating their own exchanges will make errors in doing so that cost money, wrongly programmed bots etc. Not inc Betfair, none of the others are set up to make a trading profit or even come out flat so therefore must pay set up and fixed costsWed, 25 Nov 2009 16:33:27 -0600Yeah Baz I know they are at it, but what about audits?It's legally a very dubious practisehttps://community.betfair.com/general_betting/go/thread/view/94082/23469626/betting-exchange-legal-question?post_id=419159602#419159602Yeah Baz I know they are at it, but what about audits?It's legally a very dubious practiseWed, 25 Nov 2009 16:23:56 -0600Stranger than the 'Bermuda triangle' phenomenon that one. Large investment and not happy to close for a loss yet?https://community.betfair.com/general_betting/go/thread/view/94082/23469626/betting-exchange-legal-question?post_id=419159598#419159598Stranger than the 'Bermuda triangle' phenomenon that one. Large investment and not happy to close for a loss yet?Wed, 25 Nov 2009 15:35:38 -0600how does the firm begiinning with w keep going?https://community.betfair.com/general_betting/go/thread/view/94082/23469626/betting-exchange-legal-question?post_id=419159594#419159594how does the firm begiinning with w keep going?Wed, 25 Nov 2009 14:51:17 -0600Their other site ending in Mate does 2 & 3 %. I was wondering whether you were jokingly referring to it.https://community.betfair.com/general_betting/go/thread/view/94082/23469626/betting-exchange-legal-question?post_id=419159590#419159590Their other site ending in Mate does 2 & 3 %. I was wondering whether you were jokingly referring to it.Wed, 25 Nov 2009 12:47:47 -0600Daq are similar in my opinion.https://community.betfair.com/general_betting/go/thread/view/94082/23469626/betting-exchange-legal-question?post_id=419159586#419159586Daq are similar in my opinion.Wed, 25 Nov 2009 12:47:02 -0600Where Baz?https://community.betfair.com/general_betting/go/thread/view/94082/23469626/betting-exchange-legal-question?post_id=419159582#419159582Where Baz?Wed, 25 Nov 2009 12:27:27 -0600This is already happening in practice.https://community.betfair.com/general_betting/go/thread/view/94082/23469626/betting-exchange-legal-question?post_id=419159578#419159578This is already happening in practice.Wed, 25 Nov 2009 05:39:35 -0600