Night, night children.

Ahh yes. So my vague recollection about Feck being "Red Feck" with the complete absence of common sense that goes with the hardened socialist was correct...

'government run exchange'



That's a positively scary thought

i didn't say our current system is perfect, far from it, but much better in every ways than Communism

you speak like the governments are any different than the board of directors of a bank, LOL. In what planet do you live?

In fact, they are the ones that allowed the banks to do what they did in the first place

The general effect of traders is to move the site towards fair value in moves of smaller denomination than winning position-takers will want to take. They tend to help price-finding, putting the market in a state where 1) recreational players will lose to commission, 2) good position-takers will have less of an edge and will be discouraged from playing, and 3) the site's technical features can be exploited by 'dip-in, dip-out' botted players and traders.

In this way anyone who can price up more accurately than initial oddslines e.g. the RP forecast odds in racing will dislike traders and understand them as (generally tho' not always) a drain on their profits.

They can ride on the back of informed opinion, moving illiquid markets away states in which bettors want to have their hefty bets.

And when markets settle at levels that price in winning position-takers, there is a more than average chance of some fact unknown to the position-taker that has screwed up his pricing.

** sorry, I mean a lay of 1.06 and a back of 1.07 !!!

You need two things to be in place for the fast player to really make that work to his advantage:
1. mug punters sending in bets whose odds may become very bad value during the x second countdown.
2. a slightly loose market - without the 100.x% overround that you typically find in high ranking IR tennis for instance.

To the extent that the mug punters proliferate on a market, the fast players will move in and tighten up the market, thereby diminishing (2). As usual in these markets, there is no magical way of making money. Everything requires some sort of work, cleverness or luck.

Well, you obviously have to be faster than the mug.
And my point still stands, to the extent that these mugs are there for the taking, the market tightens up and you can't do it.

I suggest that you have a go yourself, and see how it's not quite as easy as you imagine.

I'm sorry you feel that way. I can only say that I do trade some of your beloved flies-round-sh1t markets profitably, and the sort of opportunities you describe do not exist in reality (at least not in any worthwhile size).

(or rather) my bots are.

Feck would it be fair to describe your bets as sh*te-around-flies ?

. . . and more to the point.

If it doesn't have to do with having information before others, I certainly don't understand why you think there is something wrong or immoral in exercising the MM advantage. According to you, the playing field is level in the sense that the mugs are not prevented from getting to the front of these queues by their time disadvantage. Are you just distressed because some people are cleverer than others?

Thank you askari.

Contrarian, is it OK to steal your neighbour's hub caps because he too has the opportunity to steal from his.

Feck,

Matching a bet with someone else in an exchange can only be likened to stealing if there is something unfair about the way that it is carried out. You have failed to show how someone operating what you call a 'market maker advantage' is doing anything unfair, unless you just mean exercising their intelligence to do something that the other party could themselves have done (if they had had the wit).

The bet placement delay is portrayed as protecting punters from those with fast pics. Just because someone is stupid enough to believe that does not make them deserving of their fate.

Are you two children still at it or have you called a truce?