General Betting
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Was wondering if anyone has had dealings with this site and could supply some kind of feedback, good or bad,before i commit funds.Any input much appreciated,thanks.
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I have met the guy that started it and runs it. nice enough chap, credible etc etc.
assume client cash is ring fenced.. but check.. they have the age old problem of not much liquidity, but I guess you need to start somewhere. |
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Thanks for the reply Magician.Regarding liquidity, there seems to be a lot of money (predominatly on the lay side) in the football matches that they do cover....currently £65,000 to lay on bolivia in tonights game against colombia....seeded i presume? Looks like an interesting alternative though for pre race markets.
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Some pretty serious liquidty there, pretty tight spreads also
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more over there than there is here!
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Seems too good to be true on some of the markets over there[:p]
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Lots of money to be laid at a fraction above market price - if you have an opinion on something not happening, that is defo the place to go!
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Dashero... agree about the comment too good to be true....there are very large amounts on the lay side on nearly all the markets that ive looked at including horse racing pre the off ..... not so impressive on the back but still very good liquidity for a site that id never heard of until a couple of days ago...plenty of scope for early plays in markets , but ive got no idea what in running is like .
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Just to add it seems like a flat rate commision of 5%
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Some markets that arent on here also, like sky takeover to go ahead, brooks to resign, etc etc...
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where has all the liquid on this site come from
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only looked at the colombian match
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quite a fair bit trading on the Duck tonight
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From BF shrewdies of course ?.
The gold rush has started ?. Don't all rush to the one side of the ship at once though please. |
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Damn this Smarch weather!
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I assume the figure in the lay side is what you can win?
Not what you can get on. |
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interesting.. £800 available at 3.3 on the fav at ayr 2 pm tomorrow.. here £16 available
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Has anyone taken a bet to see if its really there?
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I email them back in March... they said this:
"Our lay side shows a layer's liability, not the backers stake as is the case on Betfair and ...." Also said they have market-makers. I was impressed by available volume too (and still am, even given differences in what it represents) if you google 's markets' (one word) 'blog' you'll find their blog link, which actually talks about a meeting today "Meet and greet with S markets team for professional traders" |
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Smarkets currently charges a standard flat commission of 5% of your net winnings per market.
Another clueless clone. If betfair's big liquidity providers mirrored every bet they had matched on betfair they'd pay more over there, even after the 18th July. |
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Their API is not ready yet though
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If betfair's big liquidity providers mirrored every bet they had matched on betfair they'd pay more over there, even after the 18th July.
how so feck? |
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iz, on 2% their normal commission on profit would have to be less than 16% for them to pay less than 40% of their profit on 5%.
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Feck, I thought the same, but reading their blog it looks like they're planning some kind of points system with commission between 1% and 4%.
Still, I don't see anything fundamentally different with the interface. No dark pools/iceberg orders or auction system etc. |
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If they get their API up and running they could be the dark horse that beats the field !!
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Then they will be able to copy the pc too
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Just took a look El Bandido. Makes them look all the more clueless as many traders will end up on 1%. Can't see their million dollar funding lasting long if that's all they're taking, especially if they're seeding.
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wheres the amounts that have been matched ?
i cant see it |
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Feck, you're right, they are clueless. Unfortunately.
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Not clueless at all, there is a huge gap in the market for a pure exchange.
Betfair are killing off p2p. They want to suffocate the winners and bet into their own markets with bookie like margins. The exchange concept has been born and Betfair won't kill it off, if they abuse their position then someone will take there place sooner or later. It might not be next week or next year but Betfair in the future will have lost all ties to it's original concept and some other company will have took it's place. Betfair in the future will still probably exist and will be the market leader in virtual racing and deal or no deal but it will lose it's exchange business at some point. There model for p2p exchange betting is unsustainable. Do you really think in 20 years time people will be paying up to 60%? |
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There is throughout these debates a great big fat assumption that if another company took this amount of business they wouldn't do the same thing as betfair.
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Anyone who thinks an exchange can thrive charging traders and cheats 1% is clueless.
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But would they be as greedy as 60% catflappo? And if they were able to do it without initially charging they'd be nothing to stop them facing the same threat when they did start charging.
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If Betfair's empire crumbles around them the next exchange may learn the lesson of the mistakes of Betfair. Betfair after all built up a near billion Pound business as a pure exchange charging between 2%-5%.
The 1% commission payers would never be people with near perfect strike rates. |
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Going by the wording in their blog all a trader would need to do to get on 1% was back both contestants in an A v B contest for 50K each.
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I can see a model which would easily work at 1%.
Some people just lack vision. |
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So can I but it's not one where most of the bandwidth, customer service and money goes to traders and cheats.
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There is an inherent flaw in an argument which defends an exchange operator but condemns "traders and cheats".
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how come there prices exactly mirror betfairs .... thats odd
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