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Pretty sure we're in the soft launch phase here - as above, wait for the Euros.
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Basket a soft launch might explain the low maximum stakes, but I can't see how it explains the poor prices.
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Prices on the old multiples were just as bad so maybe they will be the norm. One of Betfairs directors talks about the product here -
. http://views.betfair.com/2012/05/fixed-odds-price-switch-button-a-key-step-on-way-to-betfairs-next-generation-sports-site/ |
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Hazel, I'm pretty confident that in low liquidity markets, obscure markets, in-play etc., the prices offered by Betfair on this 'fixed odd' service will be pretty poor in terms of the over-round. I look forward to being proved wrong in this.
However, in high liquidity events, I can only see Betfair offering pretty competitive odds. As least as competitive as Ladcrookes are, for example. Otherwise, what would be the point? Things will certainly become clearer in time. It is intriguing, if nothing else. |
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Available stakes will be small until they iron out the bugs in their software for front running successful exchange customers (NAP). Not surprising to see they copied Victor's old way of telling you what the maximum stake was. They couldn't have customers placing real bets in a click FFS. At a later date they may even decide that a binary search for the maximum stake falls short of their normal obstacle course.
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As mentioned, soft launch most likely and understandable. With live betting, they will be competitive to the rest of the high street. They'll know their positions in-running and will be able to hedge accordingly to tempt punters (i.e. a team goes 1-0 early, they will offer solid odds on a 1-3 result, etc).
And, per the video, the advantage I see that when the spread is too wide and I want to place my bets on west coast baseball and go to bed, I'll click. |
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Could be interesting to see how they set the in running delays for the "sportsbook"
Will they also be offering odds on impossible outcomes as per the exchange? |
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Ouch, there's a bug with it. I placed a bet on the Guadalajara vs Almeria game at 1.29 on fixed odds but these have been accepted at 1.28!! - Have contacted betfair helpful but would be grateful if others could try with small stake to see if it happens to them.
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The mentality of the people they seem to have hired is that of standard books i.e. not substantially to lay winning customers or positive expectation bets.
This doesn't work for bf, though. Customers' expectation is that when w/ bf, their bet is not there for them, it's because of other bettors, not some team of traders. To get messages about exceeding the max. available stake erodes trust and imv risks serious reputational damage to the brand. The trading team should see losses in illiquid markets to people they fill in as marketing spend and as a way of not seeing custom to a rival (where if bets came back to them, they'd be generating lower comm.) But it is apparently ingrained in head office staff of any bm to want to knock back shrewd price-takers. You need the opposite view w/ knobs on--to stand any chance you need to attract a spread of business. |
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* not seeing custom leak to a rival
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Well I just got a fixed odds bet on o/u 2.5 goals in the Costa Rica v Guatemala game with score 1-1 for 1.72 when in the exchange odds it was 1.09. Bet has now won with Costa taking the lead so interested to see if they pay out or if they notify me it was an error.
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We've got to hope for them that they're in the teething stages. Hope they pay out for you chewie.
I'm interested in what they will do for horses. Will they offer early prices? Match early and PW box prices when they beat exchange prices? All my arbing business (not my main activity but comfortably in five figs. for any day I'm betting) begins with prices that aren't available on bf. It wd be astonishing if they were going to replicate these--and jam the price to stop the spot arbers. Actually it wd be heaven for me--but somehow I think they're happy with my business as it is, as I give away value and provide liquidity later on. |
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Fixed odds on Williams Azarenka semi final of wimbledon. 2 sets 1.5, 3 sets 2.15
That's shocking and shouldn't be allowed. Disgraceful, worse odds than ladcrooks. Can only be doing their reputation a lot of harm. |
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why call it "fixed odds" anyway? What's that all about, there must be some clueless individuals behind this.
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wonder how they did with their standout price on Spain.
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The company have cast their net too narrowly for their traders.
They've gone for the 'crap-price/arb-the-customers-or-else-discard-them' school of British fixed odds bookmaking. They shd have looked to people genuinely interested in pricing up risks from the US linemakers like Pinnacle or 3dimes. |
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The company have cast their net too narrowly for their traders.
They've gone for the 'crap-price/arb-the-customers-or-else-discard-them' school of British fixed odds bookmaking. They shd have looked to people genuinely interested in pricing up risks from the US linemakers like Pinnacle or 3dimes. |
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It's not even the standard 1/2 6/4 rubbish margins, it's the worst in the industry and they don't even have the shop overheads of the likes of william hill or corals. How can you price a 2 way market 1/2 and 23/20. It's laughable.
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