General Betting
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"When looking at Betfair's top 70 winners combined from last year, these customers made a larger profit than Betfair."
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Replies: 15
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And those who have won £25K for 10 years are now (effectively) banned.
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Only betfair plants and those with learning difficulties believe the spin that comes from the ivory towers...
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"Profit" being net profit or revenue from the exchange? Very different figures (£25m to £300m+)
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jabten - net profit of course
dashero - I'd be disappointed if these top accounts weren't averaging a grand a day each |
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The problem is the top guys are jealous of the top winning customers. This was patently obvious when the original PC was introduced from the comments they came out with.
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I'm not having a go mate I would just question every piece of info that spills from BF...It's phrased in a way to justify targetting the top earners but fails to acknowledge the small to medium players who have just been consistent winners over the years and do not represent a major drain of betfair resources....
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Remember the spiel when the artist formally known as the 20% premium charge was introduced???? recall Harry F saying the following "I'm a gambler, so the way I bet, it won't make a difference. The people who will be screaming will be the maths professors with computer models, the ones who just never lose. If they clear off, it should be even easier for me to make money." Who do you think gave him that idea, because whoever did knew it was bull**** but was needed to spin a positive out of a greed orientated PR fiasco....
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how many of these 70 will be paying 60%? someone whose average win is £8 will be paying 60%, another average win is a staggering £10.27 and they will be paying also.
But it is obvious that all betfair wanted to do was to close the accounts of consistent winners, in that aim they will achieve. |
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Do Betfair think they should be earning more than their top 70 winners combined? Because if so they have no hope whatsoever of ever understanding the gambling industry.
Imagine if poker sites took that view. |
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How much was Betfair's profit? £25m?
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how much has been pissed away in the LMAX abyss??? 20-30 million??? Yes but let's fleece the punters some more!!!!
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I'm sure that top 70 have put in a lot more effort and took risks with their own money to make Betfair a success than the management have.
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Jealousy.
Unrelated due to Betfair being bookmakers, but how much more do they think the london stock exchange's customer make than the exchange ? 1000s I'd imagine. Betfair's sold it's soul and no longer wants to be an exchange. They never wanted to acknowledge the effectively niche market they existed in, nor run it within those boundaries - offering a top quality exchange, with best execution, utter transparency with fees etc. An exchange could quite happily exist making millions a year, paying it's staff very well, upholding the highest degree of integrity. Betfair want to make much much more than this, and that is impossible merely as an exchange. |
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So you are saying that you think that BF just sees its exchange concept as a bridge to becoming a gambling monolith, with fingers in all pies?
Do you think therefore they are setting themselves up as a takeover target ? You know the concept of backing yourself into a larger group, and then taking it over through the back door ? |
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What i can't fathom is how so few can be so successful ?
In the real world you have folk who have accumilated wealth over decades and potentially billions of people and ideas to make money from |