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GOM - this new software could have been built to match people up at best available price, by checking backs and lays on all runners. Instead it has been built to take a risk-free wedge by not matching at equivalent best price. Shame to see, it could have been such a bonus if it had worked where people were matched at best available price.
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tm(2) i believe the betangel team noticed a change in market behaviour themselves through their own monitoring (basically less fluctuation around 99-101% in certain markets for example) and approached Betfair for an answer as to what was happening. Apologies to Peter et al if this is incorrect.
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Shame to see, it could have been such a bonus if it had worked where people were matched at best available price.
Totally agree. I'm 100% in favour of the cross-selection matching (I know some of you may not be). But it should be best-price matching. |
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Cross-selection matching is an excellent idea. This isn't it though.
The real tragedy is that Betfair claim to have been shutting the accounts of trap bettors, yet this super bot will give users who make a mistake no time to cancel, and a much higher probability of having all their bets matched at a trap price, with Betfair - completely risk free - taking almost all the profit. It would have been good to see Betfair looking after its customers for the long term, not designing a super trap bet bot, which instantly matches any errors, and will hugely increases the losses of genuine users to trap bets. |
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Still no explanation from Betfair?
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If the Gambling Commission are meeting tomorrow to discuss this issue then obviously Betfair will wait for their feedback.
Meanwhile anyone wishing to contact the GC urgently can do so on 0121 230 6666 |
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The fact that people are defending this is disgusting; people like soup..
I don't understand it; to say that only 40 or so are protesting and making noise. THIS AFFECTS EVERYBODY for the simple fact that BETFAIR takes your money without the 5 sec time delay; thus any mistake placing a bet gives you no time to cancel. AND 100% of betfair users that have placed (more than 1000 bets let's say) have at least make some mistake, and I'm sure a lot of times that mistake was quickly canceled (or at least part of it). The fact that many of us didn't notice anything immediately doesn't eliminate the previous fact; and thus, sooner or later we would have noticed the scam... |
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Hopeless Pinsticker 10 Mar 11:19 I note there are several well known book arbers on this thread demanding a return to the status quo. While there is no doubt we all need some answers I think it's a little misleading to think we are all in the same company. Yes we all are in the same company. Those book arbers have not the guarantee that both opposite bets are matched because of the time delay. With those book arbers you can cancel your mistakes. This affects you BECAUSE YOU CAN NOT CANCEL YOUR MISTAKES you can tell me that you have no mistakes, you never have placed a bet and cancel it quickly the moment you did notice it was wrong; then again that is impossible. I have make a lot of mistakes and I make my living with betfair; I very much doubt that if you make less money than me you make no mistakes and I make some..that is mathematically impossible.......and if you make more money than me, then this affects you even more... |
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"THIS AFFECTS EVERYBODY for the simple fact that BETFAIR takes your money without the 5 sec time delay; thus any mistake placing a bet gives you no time to cancel."
This statements just shows you how far off the madding crowds are. The five second delay stills exist, I can still cancel my bet. It looks like propoganda to me and doesn't do any of the community any favours in getting a resolution. Ok my bet matches instantly after that five second period but if I hadn't cancelled it by then I obviously wanted to get it matched at that price. |
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eulerian 11 Mar 09:49
The fact that people are defending this is disgusting; people like soup.. I don't understand it; to say that only 40 or so are protesting and making noise. THIS AFFECTS EVERYBODY for the simple fact that BETFAIR takes your money without the 5 sec time delay; thus any mistake placing a bet gives you no time to cancel. Your brain must be very small |
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I find this curious announcement from Betfair about this incident a huge distraction from Cheltenham and I wish everyone would stop posting about it for a few days, it is wasting a huge amount of time. I am sure this matter will be sorted out soon and in the meantime as long as people take care when placing bets and avoid in running markets other than horse racing (which is unaffected), then there is nothing to worry about at all.
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GB, where is the statement from betfair ? this is shocking stuff isnt it.
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luckylucas. 11 Mar 09:59
eulerian 11 Mar 09:49 THIS AFFECTS EVERYBODY for the simple fact that BETFAIR takes your money without the 5 sec time delay; thus any mistake placing a bet gives you no time to cancel. Your brain must be very small ?? |
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I just refer you to read my reply to
Hopeless Pinsticker |
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obviously off topic so apologies - but can someone tell me what happened to scousebarry? what was "the scousebarry incident"??
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If memory serves, scousebarry was the guy who posted up how the "beat the clock" trick worked - after using it for a while, just before the loophole was closed
Apologies all round if I have that wrong |
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The Magician (2) 10 Mar 19:40 Interesting question... when did Betangel find out about this.... and was it proactive or reactive? when did other third party provider find out? proactive or reactive? I contacted Peter a week before starting the post magician, he ran some tests and contacted betfair and came back with the response that is on the newsletter, thats when i started this post as i wasnt happy with the answer hed got from them He seemed quite content with the answer given to him so i can only assume proactive |
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Riccardo, would this new kind of matching put in place by Betfair have any similar precedent in the traditional financial markets?
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it was scousebarry riccardo, well rememberd.
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there would be penalties in the fnancial markets if this was going on. riccardo better qualified to comment though..
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Re: financial markets, it is hard to say. I don't care to risk breaching the terms of my own FSA registration by saying anything in public which might be construed as "giving advice". I may post elsewhere when I have digested the huge slug of posts on this... I have just started catching up, after a break for the birth of ricclet no. 3
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congrats riccardo ! :)
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Congratulations to the riccardo household. I think yakubu would be an excellent choice of first name, if one is still needed.
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Yeah you're right, babies don't move about much either ;)
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Congrats riccardo, 3 I would imagine is more than enough to keep you busy!
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I find this curious announcement from Betfair about this incident a huge distraction from Cheltenham and I wish everyone would stop posting about it for a few days, it is wasting a huge amount of time. I am sure this matter will be sorted out soon and in the meantime as long as people take care when placing bets and avoid in running markets other than horse racing (which is unaffected), then there is nothing to worry about at all.
i find cheltenham a minor distraction from the in running markets betfair are do their best to corrupt. it was a much more serious distraction when i was sitting in the pub this afternoon trying to read dr mukti. instead of old drunks smelling of** there were yahoos eating camembert. what is the world coming to? |
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urine
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BF announcement out now.....
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Very disappointing statement. Who can ever trust betfair again?
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let's be pragmatic. they were hardly likely to state publicly that a side effect of the new engine was that in certain circumstances it would result in a profit for betfair!
questions i still have are 1) was this planned or an unforseen side effect? given the horrendous releases we've seen in the past, with simple bugs that beggared belief, it may well be that the programmer geeks who did this just didn't know this would happen nad the consequences thereof. or it probably was a coldly calculated move by betfair. 2) now it's out in the open what are betfair going to do, if anything? |
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Latest non-response from betfair despite a previous response from them indicating theat the responsible department would be providing a FULL reply to my issues raised.
Dear optimist Thank you for your e-mail. Unfortunately I am not in a position to explain the system at present. We will be running a Question and Answer session on the forum in the coming weeks. It is here that the developers of the algorithms will explain in further detail the processes involved in the cross matching system. I would ask that you raise your questions with the developers at the said Q&A session as this will allow them to be answered efficiently in more details and will educate other users of the forum with the same queries. Please do not hesitate to contact us if you have any further enquiries. Kind regards Betfair Helpdesk Helpdesk Tel: 0844 871 0000 Eire Tel: 1 - 800 944 000 Australia Tel: 1- 800 644 738 Free Fax (Australia) 1 - 800 068 593 International: +44 20 8834 8060 This customer services email is sent by Betfair Limited on behalf of one or more Betfair Group companies |
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lol at least I got a full and frank reply to my email from the department implementing it optimist
"Dear ==== RE: Cross Matching The statement my colleague made regarding Betfair not having a position is correct; we will definitely not be holding a position on the markets." |
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just got back and only had a wee read of these threads so forgive me if this is a stupid question.
if i am trying to lay a horse in running at 11 and say it is trading above that so it doesn't get matched. if all other horses are trading above that price except the current fav which is trading at say 1.15, does this mean the betfair bot will place a back of the favourite for me instead? apologies again if this is a stupid question but there are so many threads on this its kind of difficult to find the right info. |
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No
It will back every selection for itself, you will be matched at 11 |
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aah, got it.
that sounds like a whole lot of instantaneous bet processing on an in running horse market. sounds good in theory. hope it works in practice!! |
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Well. the first thing to realise is that it doesn't happen in horse racing anyway...
It's a much more powerful hoover in fast moving, unmanaged, 2 and 3 way markets. Tennis, being a crucial one. Why anyone bets in tennis on here since mid February, beggars belief. |
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1) no one knew about it for sure, and judging by the lack of interest on the tennis phorum most still don't
2) the vast majority didn't notice any difference |
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oops forgot
3) it actually helps courtsiders and fast pic players by letting them hoover the other side with one bet, even though not at full value |
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Not giving us "best execution" and hiding this fact is clearly a**my thing to do and IMO the site can`t call itself a P2P betting site anymore - a bit sad however it isn`t all doom and gloom : I am pretty sure I can win more with the new matching policy.
It doesn`t look like very much additional profit admittedly but I am still confident that I will profit from this because I will get more value bets matched (ie.value to me on average). The proviso being that I don`t make any "fat finger" mistakes (I haven`t for years) and assuming this matching algorythm is used on the markets I play with. I can work with this and I contend that you can too... |
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Some good points there RAPS. "The proviso being that I don`t make any "fat finger" mistakes". I can only think of doing this on one or two occasions myself - one of them benefiitting a trap bettor **. But people will continue to make these mistakes and - as has been said many times over the past few days - whereas before the mistake could be cancelled, this is not always possible now - with the main (only?) benefactor being Betfair.
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