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it's never been a problem getting matched on tennis
if it's a problem on horses then take it over there |
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Feck, that would simply introduce one line back/lay markets for in play. It would take some out of market dynamics but there would be nothing unfair about it.
Not sure what you're referring to zeeny. |
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Am I right in thinking that if a Moneysavingexpert situation were to occur again on a Betfair botted market, they could lose an absolute fortune?
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someone asked that earlier - they just void it
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and there's the rub, if they play the markets and set the rules
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i suppose they do have to recoup the losses of the poker debacle
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of course, if they can lose from faulty software, they should be able to profit from it too.
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Is this betfair or arbfair?
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marcus, Unless you can get on in unlimited size in tennis then it's a problem for someone (maybe Bill's a flies-round-sh1te man). Provided they're going to stop the skimming, what's your problem with it? Until such time as (if at all) they show the other side volume a bot would have no difficulty accounting for it in 2 outcome events like tennis.
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Feck N. Eejit 07 Mar 15:42
Are we all cool with it then, provided betfair match the bet at the best price available? I don't care what they do next. They blew it. Confidence has gone, simple. But then my income doesn't come from these markets. And I'm not planning to either. |
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i think it's quite apparent that them pocketing the difference is not a flaw in the software. how could it possibly be? the software would have been designed to do this.
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Feck apart from the uproar it'd cause on the horseracing markets they need to factor in reduction factors so I doubt they'll be risking this on the racing markets just yet. There's enough dodgy goings on when a known non runner is left in the market without betfair adding to the confusion
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the poacher gamekeeper analogy Feck
can't be both, surely you see that? their software blows a fuse one day in a market and they face millions in losses, they will void a small possibility granted but a possibility nonetheless the 'problem' does not warrant betfair intervention - it jeopardises their integrity imo |
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the increased commission charges took plenty of money out of the system
this new gimmick seems designed to do the same when will occur to them that the burning off of clients by increased stealth charges is counterproductive to growing the business |
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feck
it helps but you will be taxed for the service better to do it youslef with a bot |
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The FSA regulate the poacher v gamekeeper scenario. For damn good reason.
It's not just about keeping things legal it's about being seen to keep things legal. And hoovering up arbs just because they can, acting as a Super User with their technological advantage, meaning that the next real user doesn't get matched, and the backer doesn't get best price, is just not cricket. The real beauty of this, is that BetFair don't know why it's a problem! Oh for the clarity of thinking offered by the founders... |
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grafec
that is the truth of it they really don't understand this from an in running player's point of view it's really not our fault that they seem to have become jealous of the bot winners and developed their own super 0 second delay in running super bot |
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pablo 07 Mar 16:13
the increased commission charges took plenty of money out of the system this new gimmick seems designed to do the same when will occur to them that the burning off of clients by increased stealth charges is counterproductive to growing the business sounds familiar .... as gordon brown has done such a stellar job (cough) with the uk economy and encouraging small business, perhaps betfair have taken him on as a consultant. either way, the ultimate result will be the same - alienation and recession. |
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I think I see a petition coming..
The idea that a multi-billion pound financial industry (exchanges) is not regulated by the FSA in the UK is a big oversight by the Gambling Commission. However they want to keep it, this act, and BetFair's clear lack of understanding, information or acknowledgement to it's user base, yet the actuality of taking overround money without telling them, means they are not fit to run it. Well done BF - you just made your case for FSA involvement. |
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boycee 07 Mar 15:50
Let's get real guys. Betfair are running a business and as such have to look at at all "legal" avenues to increase revenue. For years the computer geeks have been hoovering the coins off the floor of the exchange. This adds up to a pretty penny over a financial year, so Betfair have employed a techno-janitor to sweep them up and place them firmly into their own bin. If your strategy does not employ lifting the coins from a dead man's eyes, then you should have no worries on this latest innovation. Hope this helps. With all due respect boycee, Betfair love idiots like you because this thread has gone over your head. Betfair want the majority to think this doesn't effect them and the only people who are effected are people who skim the overound either manually or with a bot. This will take money out of all in running players pockets even if your IQ is sufficient enough to work it out. |
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With all due respect boycee, Betfair love idiots like you because this thread has gone over your head. Betfair want the majority to think this doesn't effect them
They were counting on it. |
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betfair have a bot that instantly hoovers up any overrounds
how hard would it be to replicate this? the programmers who designed it must know they're sitting on a goldmine |
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i'm sure they've had the idea for ages, it's only now that they've had the audacity to put it into action.
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Yes but BF are always first in the queue, so other punters bots would not stand a chance!
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Amazing how some people think it won't affect them.
How can it not affect you ? |
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this will cost everyone in some fashion.
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Get On MASSIVE 07 Mar 16:52
[b]With all due respect boycee, Betfair love idiots like you because this thread has gone over your head. Betfair want the majority to think this doesn't effect them and the only people who are effected are people who skim the overound either manually or with a bot. This will take money out of all in running players pockets even if your IQ is sufficient enough to work it out.[/b] Think I might have hit a raw nerve there :) |
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So the summary of this thread is:
Joe Bloggs submits a BACK bet at 2.5 Old System: Betfair check to see what is being offered on the lay side, and match him at 2.5 or higher (best execution means it is normally a little higher). New System: Betfair check to see what is being offered on the other selection, and if the equivalent is 2.5 or more, lay it and give Joe Bloggs his bet at 2.5 Old System: Bet matched at 2.6 New System: Bet matched at 2.5 The 0.1 difference? Betfair keep it. In addition, bots have no chance. So no-one benefits from this system except for Betfair. |
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It's about time there was a customer charter on here.
We get hikes in commission (and a take or leave it style) We get changes to bet matching protocol (and never told, despite them making money out of it at the expense of users) We get additions to the site, followed by numerous fixes and tweaks as all the bugs are ironed out They're a private company, for sure. But they handle a lot of people's money. Billions of pounds of UK money a year. Like Camelot this means they should be regulated, or regulate themselves. And yet, there is no formal charter, no formal consultation, no formal regulation except a paper request to the innumerate guys on the Gambling Commission, who by definition, tend not to know anything about gambling. If they were progressive, they'd have consultation events with key users which meant something. They'd look to make their customer's happy instead of hiding material changes under the sofa. But what do we care? We're only the reason they exist. |
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Betfair have hit a raw nerve and it's sickening to see people like you jump into bed with them and not realising that they'll be bending you over and shafting you without you knowing it. :(
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I think as soon as they set up the exchange they , and most others, realised there was a goldmine in the unders/overs and their position made it a risk free one. It was just no one believed they would come along and exploit to the detriment of their userbase. I guess they now realise they're in such a strong position they can do whatever they wish.
Get rid of any opposition by bringing in data charges ,sneak it in and slowly push it through the site under the guise of helping punters, ignore any moaning posts , get a few punters on your side to post misinformed views and hey presto a few months down the line it'll be all forgotten much like the previous commission increases, transaction charges, data charges........ |
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Ok, what we do next ?
Sign a petition? Moan over the phone? Cry ? Go elsewhere ? Report the overround thief to competent authorities? |
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Going by the earlier Q&A that was posted betfair say the skimming will cease, so why is everyone still using this, as well as the supposed clock beating, to bang their drum?
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I think this new change is great
Imagine a cricket match where you want to back one side if a wicket falls. Now instead of splitting the money l(aying one team and backing the other in the hope one will be matched ) Now you just need to back one side and if it not matched on that side it may be matched on the other. Hoovers paradise |
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black, wray and their financial backers see a clear opportunity to become the standard oil of the betting industry ...
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Because what else is going on that we don't know behind the scenes?
Why are Betfair not required by law to tell it's customer base over changes which could affect them monetarily? Why do we have to self regulate this institution, which handles more money in a year than the Mayor of London, but takes more liberties? |
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As fork in hell said earlier history is full of companies that rested on their laurels as market leaders and exist no more.
Betfair are abusing their position because they know people will moan but ultimately will go nowhere. They wouldn't have done this if there was a viable competitor that people could take their business to. If they keep biting the hands that feed them then one day enough will be enough and people will go elsewhere. Think of it like wildebeasts crossing a crocodile infested river. No one wants to go first but when enough do the herd follows. |
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GOM is a very angry man IMHO.
http://www.youtube.com/watch?v=-0DF6wM3Q0Y |
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Just thinking about how much BF might syphon from an individual market.
Say we had a 3 set tennis match that traded 5 million. Considering all the flashpoints in the match that would normally create an overround, how much would this net for the BF bot? I'm guessing around 30-40k. Anyone care to hazard a guess. |
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As fork in hell said earlier history is full of companies that rested on their laurels as market leaders and exist no more.
They are not resting on their laurels are they . They are finding innovative ways to help their customers have their bets matched. |