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IF I WANT TO BACK 100 POUNDS AT 1.99 TEAM A, B/F WILL "OFFER" TEAM B ON THE OTHER SIDE FOR 99 POUNDS AT 2.02. tHE UNKNOWING CUSTOMER WILL TAKE THE 2.02 AND B/F WILL SKIM 98P ON THAT TRADE ALONE. IN MY VIEW THIS IS A TOTAL SCANDAL, WHAT'S YOURS.
THIS IS ONLY ON THE ORIGINAL B/F SITES. THE APIS DONT PUT UP WITH IT.
THIS IS ONLY ON THE ORIGINAL B/F SITES. THE APIS DONT PUT UP WITH IT.
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A pint of bitter if you're buying. Cheers.
The made-up bet at 2.02 is there for API customers as well. They can't see it, because the API interface hides those bets, but it's still there e.g. the API customer will end up taking the 2.02 if they try to back team B.
Personally I think this cross-matching is a good thing. Before they introduced it, all the profit from arbitraging between selections went to bot operators. Now most goes to normal customers (with just the little bit caused by rounding prices to the nearest price point going to BF).
Personally I think this cross-matching is a good thing. Before they introduced it, all the profit from arbitraging between selections went to bot operators. Now most goes to normal customers (with just the little bit caused by rounding prices to the nearest price point going to BF).
I agree with JPL66. The cross matcher is about the only good thing ever to come out of betfair towers imo.
Has anyone ever been able to access the extra profit Betfair make through "Skimming" ?
ARE YOU JOKING, THAT IS THEIR MAIN PROFIT FROM THEIR OPERATIONS
Feck N. Eejit
Date Joined: 10 Jan 02
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08 Nov 11 17:22
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| Topic/replies: 6,004 | Blogger: Feck N. Eejit's blog
I agree with JPL66. The cross matcher is about the only good thing ever to come out of betfair towers imo.
They should give the price taker the real reciprocal price, rather than skimming by only matching at discrete odds intervals though.
Date Joined: 10 Jan 02
Add contact | Send message
08 Nov 11 17:22
Joined:
10 Jan 02
| Topic/replies: 6,004 | Blogger: Feck N. Eejit's blog
I agree with JPL66. The cross matcher is about the only good thing ever to come out of betfair towers imo.
They should give the price taker the real reciprocal price, rather than skimming by only matching at discrete odds intervals though.
^ That would be Best Execution.
Oh hang on - BF said it is best execution.
Oh hang on - BF said it is best execution.
I should keep my fat mouth shut, because it appears they are also skimming the overround on markets!!!
Taking a look at the SP total market percentages on each race and looking at the data, the figures aren't adding up and there used to be about a 3% market advantage and now it adds up to guess what????
EXACTLY 0%
So it isn't punters getting on the bandwagon, that's for sure.
I have other strategies, so Betfair, what are you willing to pay to retain me?
Taking a look at the SP total market percentages on each race and looking at the data, the figures aren't adding up and there used to be about a 3% market advantage and now it adds up to guess what????
EXACTLY 0%
So it isn't punters getting on the bandwagon, that's for sure.
I have other strategies, so Betfair, what are you willing to pay to retain me?
Further to this, I should also point out that Betfair have been logging into my account from Manchester UK, so I'm very close to making some decisions.
Under the security section I can see exactly when and from where they logged in.
Now before I get into too much trouble, I do not have absolute proof, but it all adds up and it all adds up to exactly and precisely zero, so it doesn't take Einstein to work out, even the sharper minds on here cannot calculate it to exactly zero, because there are too many unknown and hidden bets until the market turns in play.
Under the security section I can see exactly when and from where they logged in.
Now before I get into too much trouble, I do not have absolute proof, but it all adds up and it all adds up to exactly and precisely zero, so it doesn't take Einstein to work out, even the sharper minds on here cannot calculate it to exactly zero, because there are too many unknown and hidden bets until the market turns in play.
If someone's been logging into your account from Manchester (and you're not in Manchester, I take it) then you have a much bigger problem than your paranoid fear that Betfair are logging into your account...
I thought that cross-matching was a BF money-making venture but I'm now pretty happy that it's
a square deal and that they are simply making the market efficient. Since they refunded me a
couple of quid for nothing in the Oz market I'm convinced they are being straight about it.
One noticeable thing compared to the "old days" is that you NEVER see a market at 40% I.R. the
way you used to. I can't decide if this is because of BF's bots or Tom's, D1ck's and Harry's.
a square deal and that they are simply making the market efficient. Since they refunded me a
couple of quid for nothing in the Oz market I'm convinced they are being straight about it.
One noticeable thing compared to the "old days" is that you NEVER see a market at 40% I.R. the
way you used to. I can't decide if this is because of BF's bots or Tom's, D1ck's and Harry's.
If someone's been logging into your account from Manchester (and you're not in Manchester, I take it) then you have a much bigger problem than your paranoid fear that Betfair are logging into your account...
No I have confirmed it's betfair by the ip address.
No I have confirmed it's betfair by the ip address.
BTO, if you logged into some kind of leaderboard or points competition here to check your position, a login(from Betfair) will show up in the security section.
BUT THE CHEEK IS ON THEIR SITE THEY ACTUALLY PUT UP PRICES THE OTHER SIDE, IN ORDER TO FOOL PEOPLE TO BACK ODDS THE OTHER SIDE AND THEY SKIM. SCANDALOUS.
how can making a tiny marginal profit from cross matching be a bad thing as there is natural variation between back/lay over-rounds in immature or dynamic markets anyway, are we all looking too make the same small profits from the system as customers ?
Thanks Eddie, that's a good point I hadn't considered.
I don't believe I've logged in anywhere other than the main betting site or this forum.
I don't believe I've logged in anywhere other than the main betting site or this forum.
Brass, the real skim seems to take place in running where they are making a fortune!
Ever wonder the real reason for the 5 second delay?
Punters know there is a 5 second delay, so they will lay much lower than the current price or back much higher than the current price, hoping not to miss the boat.
So let's say in the lay queue there is :
$1000 @ 1.50
$500 @ 1.49
$750 @ 1.48
And someone dumps a back bet $5,000 @ 1.45 all the money waiting is matched which leaves $2,750 for Betfair to play with.
A portion of it will sit in the queue unmatched, but a portion of it will be matched at presumably $1.55, which we won't see, as it's virtual.
And this is the real scandal imho.
Thinking logically 5 seconds gives them more than enough time to make book calculations and put up virtual bets match them and skim a percentage.
If one punter is disadvantaged by a slower connection or slower pictures or slower brain, it's not going to do anything to level the playing field by delaying everything by 5 seconds.
The same penalties apply whether it's 5 seconds or 50 seconds or 5 milliseconds.
I have long wondered how punters can be so exact in pricing in running, when I see so many wrong (mispriced) trades in running.
If you look at enough inrunning data it boggles the mind just how punters can overall breakeven, when there are so many huge variations to the end result.
When you rob Peter to pay Paul, you have a very angry Peter, but you breakeven.
Ever wonder the real reason for the 5 second delay?
Punters know there is a 5 second delay, so they will lay much lower than the current price or back much higher than the current price, hoping not to miss the boat.
So let's say in the lay queue there is :
$1000 @ 1.50
$500 @ 1.49
$750 @ 1.48
And someone dumps a back bet $5,000 @ 1.45 all the money waiting is matched which leaves $2,750 for Betfair to play with.
A portion of it will sit in the queue unmatched, but a portion of it will be matched at presumably $1.55, which we won't see, as it's virtual.
And this is the real scandal imho.
Thinking logically 5 seconds gives them more than enough time to make book calculations and put up virtual bets match them and skim a percentage.
If one punter is disadvantaged by a slower connection or slower pictures or slower brain, it's not going to do anything to level the playing field by delaying everything by 5 seconds.
The same penalties apply whether it's 5 seconds or 50 seconds or 5 milliseconds.
I have long wondered how punters can be so exact in pricing in running, when I see so many wrong (mispriced) trades in running.
If you look at enough inrunning data it boggles the mind just how punters can overall breakeven, when there are so many huge variations to the end result.
When you rob Peter to pay Paul, you have a very angry Peter, but you breakeven.
Bit slow on the uptake bto, all the cross matching flaws/scams have been discussed at length since it was introduced. And btw you'll probably find your manchester login is when you log into the bdp site
@Beat The Overround
I'm clearly being slow here.
Betfair aren't in Manchester.
So either the IP address used to log in to your account is a Manchester one, or it's a BF one, I don't see how it can be both?
I'm clearly being slow here.
Betfair aren't in Manchester.
So either the IP address used to log in to your account is a Manchester one, or it's a BF one, I don't see how it can be both?
longbridge, betfair run various competitions/sites that require you to log in. They're not all hosted in hammersmith so some logins show as different IP addresses than the normal betfair site. If you login into the bdp.betfair.com forum it'll show a login from somewhere oop north can't remember where.
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