Betfair's new sportsbook

Betfair will put bet into market.  You can take if you want to or make own price.

So it will be bets put into the main exchange markets and not a separate book? Will Betfair's market-making have any privileges over other punters on here (apart from not having to pay commission)? Are Betfair really going to let anyone take their bets, or will they run from any live money, I wonder?

Surely this isn't a good thing.

if your a normal mug punter why would you take a worse price with the sportsbook rather than just matching it on the exchange yourself?

from what i read somewhere it's going to be more like the **** roulette type bets on in play betting

e.g. guessing the number of runs in an over, or first to ten points in tennis sort of crap.

stuff that there isn't enough liquidity for already.

maybe i'm wrong though.

I think it's like they go short on anything the shrewdies are backing and long on anything they're laying. They think the site's too difficult just now for many would be copy cats.

guessing no commission paid on bets placed on the sportsbook???/

Sorry Mr Magoo, have you a link to this recently announced sportsbook?  Thanks

All I know is from what Betfair talked about at their recent results announcements, and seeing mention of it on the forum.

See the slides at http://www.axisto.com/webcasting/investis/betfair/prelims-2011/index.htm

"
Exchange provides best value proposition on liquid markets
Exchange does not support all bet types
We already offer some non-Exchange bets to customers e.g. multiples, tote
Now extend sports product range to cover more bet types e.g. more in-play markets, early prices
Integrated Exchange and sportsbook
"

ah ok , thanks for the reply Mr Magoo

I don't really like the sound of "integrated exchange and sportsbook".

Like a newspaper cartoon I saw the other day when the trojan horse arrives from Greece, thanking people for their recent debt restructuring help, someone says " Somehow I don't like the look of this ".

it's a good job they don't have access to all the successful players' betting histories so they can reverse engineer profitable strategies.

oh, wait.

Or just front run their bets without an in play delay

BF getting round the in-play delay would be my biggest concern and they might even be daft enough to give it a go.

If they do that DStyle they're utterly doomed.

and this is the problem......the exchange turns into a player. how do we know who we are betting against? how do we know if it's a level playing field?

Betduck is showing 30 mil matched for the Open golf winner.

I know they calculate matched differently, but still a substantial sum.

What I see is bots arbing between here and there and volume picking up there as position takers bet there to avoid the pc. Which means BF is losing the pc and probably some regular commision as well.

I'm frequently a straight position taker and can often get better odds there which I did yesterday in a cricket match. Although its still poor for trading.

I believe someone earlier, used a phrase like,

Machining gunning themselves in the foot.

It's not a level playing field as it is Izallthe numbers...never has been never will be...bit like life really.

It's not a level playing field as it is Izallthe numbers...never has been never will be...bit like life really


lol, sure...another name for it is 'insider trading'......

would have thought the new sportsbook will be like all other bookmakers with fractional odds 130% books and no commission paid on these bets, with betfair maybe hedging money back into the exchange depending on there position.

the highroller service didnt last long so noway is the sportsbook going to be betfair in the markets on 100% books

The Betfair Sportsbook will be just a mirror of what on offer on the exchange except 3 steps behind, will be arbed straight back and will probably, more or less, only offer prices on derivative based markets.  I'll be amazed if it's anything else.

That sounds like a terribly inferior sportsbook in comparison to existing sportsbooks , if that is the height of Betfair's ambition god help the shareholders

I agree entirely dashero.  I think they are going down the route of what they want people to want rather than looking at what people actually want.  It's a format tried and failed, and they are basically hoping the Betfair brand and a ready made customer base, can make what is essentially a rubbish product a goer.  It will be the automobile equivalent of the old East German Trabant.

with betfair maybe hedging money back into the exchange depending on there position.

replace there (their) with our.

So there will have to be a new interface for the site where you log in and choose either the exchange or sportsbook option

it why betfair need to bring in 40%-60% , so the smart punter don't kill there sportbook

it why running a Exchange and market making sportbook don't work together

i wonder if they'll ban/restrict/limit winning accounts on their sportsbook....

if you want an idea of how the set up will work, have a look at ****/32red.

******=batdeq

exactly....although you mean chronical not batdeq

truly the Trabant of the betting world.  Virginbets were the first with said nonsense and they didnt last long

theres loads of them clydebank, 32red, chronicle, PKR, samvo, all "powered" by ****. Although actually chronicle would be the best example as they are owned by **** and the rest of just white label deals.

I wondering when betfair will go down the betting terminal experiment, just like the daq attempted with this set-up.

I can't wait to see their effort at a sportsbook, every project they have undertaken in the least few years has ended up spawning a pitiful finished product..ffs they destroyed the forum with one upgrade so an entire sportsbook spells disaster for them and the users of this site.

They do seem to have a habit of pillaging the exchange to fund all these turkeys like LMAX , virtual racing etc can't see the sportsbook being any better

To attract the mug punters they are aiming for, the new sportsbook is going to have to be on a par  with the likes of Bet365 , now unless they have a new team of developers I can't see them achieving that...

They have been piling liquidity into loads of markets recently. It's not difficult to spot. They'll come a cropper soon enough.

Don't we all ?

Will be interesting to see how their policy of cancelling matched/unmatched bets during outages and site f*ck-ups changes once they are running their own sportsbook.

If their own traders are locked out of the site then I reckon Betfair will suddenly be much keener on cancelling trades and and voiding markets.

Then the sportsbook is now going to be good for us iyo ?

Good points Mr Magoo,

I can almost see the train wreck coming.