SMARKETS

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.

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.

Some pretty serious liquidty there, pretty tight spreads also

more over there than there is here!

Seems too good to be true on some of the markets over there[:p]

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!

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 .

Just to add it seems like a flat rate commision of 5%

Some markets that arent on here also, like sky takeover to go ahead, brooks to resign, etc etc...

where has all the liquid on this site come from

only looked at the colombian match

quite a fair bit trading on the Duck tonight 

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.

Damn this Smarch weather!

I assume the figure in the lay side is what you can win?

Not what you can get on.

interesting.. £800 available at 3.3 on the fav at ayr 2 pm tomorrow.. here £16 available

Has anyone taken a bet to see if its really there?

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"

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.

Their API is not ready yet though

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?

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%.

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.

If they get their API up and running they could be the dark horse that beats the field !!

Then they will be able to copy the pc too

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.

wheres the amounts that have been matched ?

i cant see it

Feck, you're right, they are clueless. Unfortunately.

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%?

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.

Anyone who thinks an exchange can thrive charging traders and cheats 1% is clueless.

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.

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.

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.

I can see a model which would easily work at 1%.

Some people just lack vision.

So can I but it's not one where most of the bandwidth, customer service and money goes to traders and cheats.

There is an inherent flaw in an argument which defends an exchange operator but condemns "traders and cheats".

how come there prices exactly mirror betfairs .... thats odd

EVERYONEs prices mirror betfairs.

****s
Smarkets
Ladbrokes
HIlls
Bet365

why?????

and how can you profit from it?

Why is it odd?

yes they all mirror ... but not as precisely as smarkets on all the different markets with the same spreads!

and secondly i find it weird they dont show the amount matched ... thats hiding it on purpose

check the argy match ... see betdquack  an see smarkets ....

to be honest I would prefer there to be two exchanges in mixed supremecy....  some 60/40 split not the current 90/10 or less split we have in many areas...

but can we really expect that to occur shortly.... or at all....

http://eu.techcrunch.com/2011/05/13/smarkets-raises-a-1-million-funding-round-led-by-passion-capital/

some of my thread did not post?

article says expect to match 10 million between April and June

BF will match 8 billion in same period.

even halving BF figure and assume SM does not need to be halved...

that is .25% market share at best.....

a mountain to climb.....

There is an inherent flaw in an argument which defends an exchange operator but condemns "traders and cheats".

The reverse view is mainly held by traders and cheats.

Feck do you not think you have hi-jacked enough threads with your visions for a "feck" friendly exchange... every thread bleating the same tunnel vision agenda.

Looking at the commission structure proposal on the blog, it seems just about anyone will be on a max 3% deal and most 2.5% or less, meaning more incentive for the purple people to keep their current rates to those levels too which is really healthy news.

BF is no longer an option for me in 90% of the markets I play anyway but I would imagine a lot of people drifting over to these two places over the coming weeks and months.

I like BET365, WILLIAM HILLS, and LADBROKES.  And BETFAIR.

Who is SMARKETS?

Ghetto Joe
Date Joined:     24 Jan 05
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.

Perhaps they will be more 'greedy'.  I doubt we'll ever find out but why would any business not follow suit? The pc is a fudge but it is an obvious and necessary one.

Imo, if betfair are to be knocked of their perch it will not be by someone copying them and offering a better deal to a handful of disgruntled users.  What's needed is the next phase of innovation either technically or conceptually and maybe that will come blessed with a perfect commission structure from day 1.  Doubt that too, I expect it will be subject to change...

The reverse view is mainly held by traders and cheats.

You miss the point. Those you defend, and those you condemn are not distinct groups. You're holding 2 diverse opinions on the same people.

does anyone have the figures of what profit betfair made year on year since the start???

The pc is a fudge but it is an obvious and necessary one.

Don't agree with that catfloppo. The way forward is to remove the players who make the pc necessary.

Where do I defend betfair weatherman.

Yes we do Feck, I don't think betfair should remove anyone

NO PRISONERS catfloppo.

Feck N. Eejit

Don't agree with that catfloppo. The way forward is to remove the players who make the pc necessary

you can self exclude yourself feck  :o)

I most likely will magician.

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%.

feck could you work out this scenario for me.

2 customers; 1 on pc2 40% using b/fair; 2nd at smarkets on 5%

both make a thousand quid in a week; what is their net profit?

I think you need to provide more detail :)

it is strange that all mirror betfair.. someone said so so the other firms.. no they dont not like this

that 60% will only ever apply to a few on here , hardly anyone will ever get near 2,500,  never mind 250,000  .

Hyper inflation coach ?
Everybody seems to be talking about it these days in the financuial world.
You had better get more than one wheelbarrow then ?

I've invested in precious metals . A spare room full of canned beer .

And you can drink the beer and still have the metal,
A doubly whammy investment. Nice.

What happens to everything else when there's hyper inflation FAFH ?  do houses become worthless too ?  I'm not too clued up on finance ...sounds i should read up

I've been trying to get the sage of the finance forum, aka Menelaus, to spell all that out for me too. More pointedly how best to protect against it.
But without success.
I'm not an economic theoretician, and so I will leave it to others more qualified than me to answer your question, if this is the right forum to do so on.
I would certainly be interested to learn and know more on this oft mentioned armageddon.