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Managed to build up a billion pound business from charging 5% and lower, god knows how much they'd be worth with charging us up to 60% 
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In all seriousness, I'll adapt. It just makes me sad that such a once great company has so deserted it's original idea.
Please explain Bayes.
It's still p2p, just not such a free ride for the shrewdies any more.
It's still p2p, just not such a free ride for the shrewdies any more.
Winners were lauded in the first instance. Trading was encouraged. In-running betting was the great new innovation. Now all three are anathema for Betfair.
Bayes
Give me a ring please now
I;m so upset about this I will not sleep tonight
I've lost your number
Give me a ring please now
I;m so upset about this I will not sleep tonight
I've lost your number
Bayes
It was always going to be a work in progress.
Nobody could have foreseen all the tricks being used by clever punters, or even the full costs of expanding the platform.
The pricing structure always surely had to be viewed as a fluid animal.
It was always going to be a work in progress.
Nobody could have foreseen all the tricks being used by clever punters, or even the full costs of expanding the platform.
The pricing structure always surely had to be viewed as a fluid animal.
frog are you a stooge or just an apologist for the mafiosos?
Neither.
Just somebody who doesn't know the full facts of the situation and would like to give BF the benefit of the doubt until if and when I do.
Apparently everybody else does know all there is to know behind this decision by BF.
Just somebody who doesn't know the full facts of the situation and would like to give BF the benefit of the doubt until if and when I do.
Apparently everybody else does know all there is to know behind this decision by BF.
Betfair are simply doing what any monopoly or virtual monopoly should do - take supernormal profits while they can. Fair play to them if they think they can get away with it. I don't think they can as their business is too easily copied.
"Supernormal" profits!
Err where exactly ?
Is it that easy to replicate ?
Maybe on paper.
Err where exactly ?
Is it that easy to replicate ?
Maybe on paper.
but the company is still on a PE of about 20, reducing to maybe 15 if you allow for the cash they have on an EV basis. On a 20 year view is it right to annoy your biggest customers so much?
temporary
I would think that their biggest profitable customers to them are closely liaised with on these types of matters.
If not, then they really are stupid.
They're targeting those who are big and mostly profitable to themselves, but not to BF.
I would think that their biggest profitable customers to them are closely liaised with on these types of matters.
If not, then they really are stupid.
They're targeting those who are big and mostly profitable to themselves, but not to BF.
fine
I have paid about 1 million pounds commission to them over the last 10 years, so I am not one of the biggest customers, but must be in the top 100-200 I think. I knew nothing about this until it was announced.
I have paid about 1 million pounds commission to them over the last 10 years, so I am not one of the biggest customers, but must be in the top 100-200 I think. I knew nothing about this until it was announced.
Amazing to hear and extremely disappointing.
Maybe they are operating in some sort of cocoon after all.
As I have always made clear, all my comments are qualified by my lack of knowledge of all the background business facts.
As such come out in bits and pieces, such as this pretty interesting revelation by you, my opinions will evolve.
Maybe they are operating in some sort of cocoon after all.
As I have always made clear, all my comments are qualified by my lack of knowledge of all the background business facts.
As such come out in bits and pieces, such as this pretty interesting revelation by you, my opinions will evolve.
temporaryname
I'm up for another 10 mins or so. Otherwise give me a bell in the morning. I've left my number on the message thingy.
I'm up for another 10 mins or so. Otherwise give me a bell in the morning. I've left my number on the message thingy.
.
http://www.racingpost.com/news/horse-racing/betfair-to-increase-charges-on-big-hitters/877670/top/
It's quite telling how the article is very biased toward Betfair, even stating that the increase in PC will 'protect smaller players using the site'. Yet every single one of the responses is negative.
When the original PC was introduced, there were quite a few people who thought it was a good thing. It seems Betfair's (vocal) customer base is pretty much unanimous in being against this one though. The people defending it are an extremely small minority indeed by comparison.
Probably because virtually anyone who makes a profit could end up in the same boat eventually. It's no longer the case of "the other guy is paying PC, oh yes that's fair".
Most customers however won't care / won't know the charge exists, just like they don't know traditional bookies close down winning accounts (or even +EV accounts that are losing).
http://www.racingpost.com/news/horse-racing/betfair-to-increase-charges-on-big-hitters/877670/top/
It's quite telling how the article is very biased toward Betfair, even stating that the increase in PC will 'protect smaller players using the site'. Yet every single one of the responses is negative.
When the original PC was introduced, there were quite a few people who thought it was a good thing. It seems Betfair's (vocal) customer base is pretty much unanimous in being against this one though. The people defending it are an extremely small minority indeed by comparison.
Probably because virtually anyone who makes a profit could end up in the same boat eventually. It's no longer the case of "the other guy is paying PC, oh yes that's fair".
Most customers however won't care / won't know the charge exists, just like they don't know traditional bookies close down winning accounts (or even +EV accounts that are losing).
tbf, investor, I think it was almost universally negative first time round.
journalists by-and-large don't understand this stuff and can't be bothered to figure it out. so they just quote the press releases. add a bit of advertising spend and, well, case closed.
journalists by-and-large don't understand this stuff and can't be bothered to figure it out. so they just quote the press releases. add a bit of advertising spend and, well, case closed.
It's all too cerebral for the average punter and, as such, is not really going to affect the big picture of BF as the punter's friend.
UNLESS the HS bookies start planting negative articles in the general press. And then BF can retaliate in kind.
Now that would be fun for all.
UNLESS the HS bookies start planting negative articles in the general press. And then BF can retaliate in kind.
Now that would be fun for all.
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