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I think you've got a false economy in your logic Betfairy. In reality, a heavy user could deposit 100,000 into their account in January, and take out 200,000 in December. If they did this they haven't paid a penny to use Betfair, they've taken 100k out of the pot.
Bf will have paid for the website to be up and running, the phone service, and all their costs, but the heavy user will still be taking 100k out of the pot. The "paying more the more you use the site" is a smokescreen. |
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commission costs on winnings do not stop mugs from using betfair. FACT.
QED; you wont attract more mugs by fiddling with their 5%. what is this? some kind of socialist utopia where you wanna redistribute the wealth? it's the law of the jungle out there and the big fish eat the smaller ones. there's no morals here; everyone pays the same and if you're a big player/winner you get a better rate. Volume customers get a better deal in many businesses. This is no different. b/f is great and works because it's simple. start over complicating it, and you'll end up f***ing it up... |
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If they did this they haven't paid a penny to use Betfair, they've taken 100k out of the pot
you've failed your basic arithmatic there Deej. to take out 100k in profit they had to win 100k + whatever comms they paid b/f. you seem to assume b/f can have all the money off the mugs, and thus improve their margins? have you considered the impact on timescales of what you're advocating? b/f bleed their customer base in a different fashion and a t a different rate, to what end? |
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Sorry CAT, I forgot the ;)
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The Betfairy,
Actually, I do own my own betting exchange and no, I don't ban winning punters, though I did float the idea on various forums pre-launch in 2002 to attract advance free publicity and provoke discussion. I've no plans to actually instigate such a policy but then I'm not running a betting exchange which, as Betfair is, is under constant pressure from financial institutions like Softbank to maximise profits ahead of a flotation. Please try to understand that I'm not advocating suich a policy for Betfair, I'm merely expolaiinng why DJ's ideas aren't as far fetched as they might at first glance appear to be. I'm told there are accountants and consultants at Betfair who have expressed concern that the punters who make the biggest profits on turnover are detrimental to overall commission revenue and the attrition rate among the biggest losing punters. If that is true, there is a finite chance some version of DJ's advocated policy could be brought in one day. |
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catflappo,
The wink speaks volumes - sorry for misjudging you, old chap. |
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As with most of your posts this is what you really worry about
2) If you have phone vote insiders in particular hoovering up bets on known results, after the voting lines have closed, how much more profit could Betfair make if it restricted or closed down the people who hoovered |
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> Actually, I do own my own betting exchange and no
What would you call such a venture? A pun on the technique on laying and backing bets, maybe? ;) I'm sure everyone reading this thread is aware that DJ was merely pointing out a possible change of direction for Betfair - I sincerely hope the Betfair directors do not follow such a route as has been mapped out for us here. However, much more has been said in this thread than a simple conveyance of the facts, including some pretty scary and ludicrous ideas. I love the status quo! |
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CAT, I hope you're busy contemplating this issue for real sometime soon.
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evening lippy ;)
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Welcome back DJ. If betfair were to do this surely profitable momentum traders would be the first to go as they contibute nothing in terms of real liquidity and generate very little in the way of extra commission? i.e. They are a drain on the system yet contribute nothing.
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catflappo,
It would be nice, for sure, but I won't be banking on it happening anytime soon. |
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Feck, if someone hardly ever loses, they'd be willing to pay a lot more than 5% for using the site. More money would be extracted from successful traders (and I think that will happen in the future).
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bigpoppapump 23 Sep 18:59
you seem to assume b/f can have all the money off the mugs, that would be a completely ridiculous position, and I'm surprised you have attributed it to me :O :^O |
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If you banned winners then the next teir down would become the new winners.
On an off topic note, can i ask what you think of Grace Adams-Short I spent several hours chatting to her on a train journey from cornwall to london. Didnt know who she was till after as BB not shown here in NZ . She seemed a decent person, went to same school as my sister in Devon. Dont think she the ** people make out, how did you find her . Was sad to see she been beaten up, but media might be exaggerating injuries |
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I think you may well be right on traders paying more DJ. I know they were looking into it a couple of years back and I'm surprised nithing's happened about it.
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Grace was a bit naive. She is a bit odious, she isn't that attractive, but the producers are not daft. Her entry video had her la-dee-da-ing around saying how wonderful life was and she had her pad in notting hill bought for her by mummy. Posh rich girl was always likely to become a pantomime villain.
She wasn't bright or sharp enough to not keep falling on to her own sword. She is also only 20 I think. Seeing what happened to her made me very cautious with the whole thing, I love the show but the minute you try bigging yourself up you're setting yourself up for a fall. Its a poisoned chalice in the wrong hands, and I have some sympathy for Grace on a human level. "Famous" yes (for now), but if 15 million people think you're a bitch, its not exactly one of life's success stories is it? :( |
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If it had been me instead of Susie who had gone in, I'd have tried to help Grace. The crowd in front of me that night started the chants of "GET GRACE OUT", which spread in a unanimous wildfire, and were violently audible to the housemates. I wouldn't have nominated her the following week as Susie did, and I feel sorry for anyone who is stupidly ruining their own life very cheaply. Perhaps a chance of redemption if the penny dropped that she really was nowhere near as pleasant or likeable as she thought she was.
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http://www.youtube.com/watch?v=MeWHymN0vMI
i'm number 24 in that video lippy. you can hear how much the crowd hated grace halfway through, and towards the end of the video. |
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I found her fairly pleasant. When we were getting off the train an old woman was having trouble negotiating the step to the platform, Grace was the first to help her.
She did seem slightly contrived in some ways, kept phoning people calling them babe, inviting them all to some restaurant and saying she would be dressing up because she thought photographers would be there. But she only young, most people that age seem to act that way |
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lol just watched that video, oh he was nice lol must of been you she was talking about i think
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i think so too ;)
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didn't Betfair open a forum for this "reality tv show" rubbish a while back ? I think it needs re-instating.
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DJ SUNSET......................................... SHUT THE HELL UP AND GO PLACE SOME BETS!!!! YOU ARE TALKING OUT OF YOU'RE F A N N Y
FOOL |
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Haven't read everything on this thread but I'll put my t**enneth in anyway:
I think Betfair should only award commission pts on losing bets. That way traders who always win will be stuck at 5% whilst still allowing the market makers a good chance of getting to 2% (even if they win) |
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(even if they win overall that is)
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surely the cost of collection would also exceed the take from lifetime betting too. would one be expected to keep betting slips in a huge file for 50 years?
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I agree with the man's conclusion as far as commission points only being awarded on losses (and the current points totals would need to be halved as well if this happened).
I might even go further and suggest commission points should be lost for winning bets (to a small degree). |
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thanks 9ballpool btw :x . was going to let this thread die, but fair play if you want to bring it back ;)
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It does.
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A prophetic thread from September 2006 :)
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Is DJ still around on here? I've only seen him on purple.
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no he is banned forever
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just re-reading the thread, I was wondering what year this was from :)
Are CAT and Frog also banned? |
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the name change is a bit odd. did the forum mods want to have one last pop and thought nobody would know they did it?
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Dear oh dear :0
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It would be fitting if it were re-named the "DJ Sunset Premium Charge"
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Tobermory, do you know why he got banned?
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Yes seems like they may have gotten the idea from reading the forum...how ironic...
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before my time Investor , there are people on here who know though
I think he was arguing with other posters on the Tennis Forum , saying they were courtsiders and it got a bit heated. |