General Betting
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LAST YEAR.
ABSOLUTELY FLABBERGASTED.
ACTUALLY 10,000 A DAY SEEMS A BIT LITTLE. TERRIBLE
ABSOLUTELY FLABBERGASTED.
ACTUALLY 10,000 A DAY SEEMS A BIT LITTLE. TERRIBLE
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Replies: 52
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Was always a shameless profit grabbing exercise. not surprised at all at those numbers.
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I'm wondering a little about crossmatching.
I've read how it's done, but can't really see how it's executed. How can you match a win bet on one horse with another horse in the same market? One thing seems clear though, a lot of the blame for funny price movements probably lies with Betfair's bot rather than traders bots, if I understand correctly. |
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It would be matched as a lay on all others, I think that's how it would work....
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Beat The OverRound
07 Nov 11 04:24 I'm wondering a little about crossmatching. I've read how it's done, but can't really see how it's executed. How can you match a win bet on one horse with another horse in the same market? Lots of time you come on here with condescending remarks to other forumites when you think they are stupid/ignorant and you don't understand how crossmatching works !!!!!!!!!!!!! |
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Joel, not neccesarrily on all others. If there are enough prices to get the book over/under 100 %, it will be done on those horses and nothing on those with no prices up.
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Aah ok, well I was close I guess
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Superman III stuff - certainly preferable to their other 5cams as guess it does serve a purpose.
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Lots of time you come on here with condescending remarks to other forumites when you think they are stupid/ignorant and you don't understand how crossmatching works !!!!!!!!!!!!!
We have clear evidence Eddie that you are a forum troll and it's wearing thin to be honest. As to your other comments... Condescending in your opinion. Yes, sometimes they are stupid and ignorant when there is clear evidence they wish to ignore, but still push on with arguments regardless of the evidence. That's when I lose patience. I have never lost patience with anyone who asks something or needs help, as the many private messagers can attest to. The facts are, and you can deny them if you like, that nobody has actually lost any money from their Betfair account due to someone getting past Betfair security. It has always been through a personal security issue. I know nothing about cross matching, but the difference between you and I, is that I don't pretend to. |
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When were these figures published?
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I've read how it's done, but can't really see how it's executed.
I know nothing about cross matching These are both quotes from you on this thread. I'd say crossmathing is fairly easy to understand. |
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You might like to explain in detail how it's done for everyone's benefit.
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Where did this 2.3 million figure come from? Is it for the UK or the AUS operations?
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there's a useful explanation at:
https://bdp.betfair.com/index.php?option=com_content&task=view&id=143&Itemid=62 and https://bdp.betfair.com/index.php?option=com_content&task=view&id=237&Itemid=62 |
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where were these numbers posted?
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If I had to bet on it, I'd say those figures were for the Oz markets as betfair were forced to refund that money. Why would they broadcast what they made from UK markets which (if I'm correct) would be much more?
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Thanks longbridge, that explains it.
Eddie are you there? Eddie Hello Eddie? (crickets) lol |
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As feck says - I suspect the uk operation is much more profitable.
It's ok to damge the 'exchange ecosystem' as long as betfair are doing the damaging it would seem |
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£2.43 * active customers 949,000 = 2,306,070
Reckon its pulled out of thin air, a very misleading figure to post with no backup to how its calculated. |
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If that was in Australia, any estimates for the rest of the site?
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@brendanuk1 - I agree entirely.
As I recall (can't find the post explaining it right this moment) the £2.43 was only paid to those who'd placed a bet on an Aus XM market in since a particular date, which is going to be rather fewer people than total actives. |
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strange how you assume that the numbers must be wrong as less people will have been paid, yet appear to believe the £2.43 was a genuine, accurate figure, paying all profits back
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strange how you assume that the numbers must be wrong as less people will have been paid, yet appear to believe the £2.43 was a genuine, accurate figure, paying all profits back
One is posting on internet by forum user with nothing to back it up. The other was announcement by Betfair confirmed by many users that 2.43 has been paid to some users due to Aus X matching. The only thing that is known is that 2.43 was paid back to some users. |
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think i read somewhere that it will be paid 3 or 4 times a year aswell somewhere.
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They weren't forced to pay it back, it was something they agreed on with the Tasmanian tote that betfair in Aus is licensed through when they introduced the cross matching.
I guess because the UK betfair is not located in the UK they can do what ever they like, if the 2,306,070 is correct and knowing the volume of the Aus markets i can only guess it must be at least 10 times this for the other markets. |
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1.High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email ftsales.support@ft.com to buy additional rights. http://www.ft.com/cms/s/0/00c89622-096a-11e1-a2bb-00144feabdc0.html#ixzz1d3LM85sq
1.betfair to 789½p, helped by Numis Securities “buy” advice. The value of wagers placed on Betfair’s betting exchange rose 13 per cent in the quarter just ended, suggesting interim results due next month should match forecasts, Numis said. “This momentum, with the promise of more to come as the sportsbook is added to the site, will, we believe contribute to improved investor sentiment in relation to Betfair,” it argued. 2.brendanuk1 when they start doing cross matching they 5 millon in first year |
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link?
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ask betfair they post onhere
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so no link?
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goggle it or ask betfair
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still no?
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Okay, if someone could correct me if I have missed something.
Since cross-matching has come into action, I've found that small portions of my bets have been taken but I have also noticed eventually they are filled. At first, my assumption was, of course, user bots. But the 'rhythm' of the matching indicated to me that it was the cross matching. As a user and users I link with, more of my positions were being filled. Thus, this is a positive point. For betfair, it means an algorithm that is matching more bets thus creating more commission for them. So when you read "10K a day", it comes down to, yes, some mathematical skimming but, I believe an increase in commission for them since more bets matched. |
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So much for their "best execution" claims.
Their so called "ecosystem" is toxic. |
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There's something wrong with their explanation!
If as stated they are basically making 100% books in order to match bets, how is it they are making a profit? I doubt very much the profit comes from commission generated by matched bets that would otherwise have gone unmatched, as that's a completely different kettle of fish. Something doesn't add up in the calculations, I have a feeling they are creating books with their bot, and while the explanation assumes 100% market, the reality is they are making much better books! To me this flys in the face of the whole crossmatching "intent". The explanation is that more money matched at better prices in illiquid markets, but the reality being they are skimming percentages off market books which could have gone to the punter. So what is really going on? And how do they counter a big movement before all bets are matched? There is only one way to guarantee this, but I don't want to speculate! |
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Do betfair still occasionally get free runners in markets with more than 2 outcomes or has this been changed? This will be generating much more for betfair than the fractions between prices, especially since being introduced into horse racing.
Why is cross matching never turned on in play tennis match odds? |
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Correction - I notice cross matching is on the tennis in play now. I'm sure its not always, unless its a recent development.
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The "skim" comes from them only matching bets at odds that are available on their own odds ladder. When a cross match bet is available it is put up at the nearest increment on their odds ladder (rounded in their favour obviously). As bingo bongo points out, they also have the possibility of a skinner if a x-match only covers 2 out of more than 2 possible outcomes.
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I've always found the cross matching thing a bit too technical for my liking although I understand the general concept.
But when betfair cross-match in running, are they effectively beating the clock in any way? |
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I doubt it silverback. I think the cross matcher only uses bets that have already struck the queue. They've no need to anyway. They've got hundreds of reps on course cheating on their behalf in exchange for 40%-60% of money won.
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BTO, in a 2 runner market that looks like this
1.06 1.07 15 15.5 there may not be anyone laying 15s. Backing at 1.07 is the same as laying the other selection at 15.29 I think. Anyone that backs 15 in the example above, when they could effectively be getting 15.29 is giving the difference to betfair. |