General Betting
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THE PREMIUM CHARGE MUST BE SCRAPPED
THE PREMIUM CHARGE MUST BE SCRAPPED
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A lot of the loss of liquidity is almost certainly nothing to do with PC charges. As far as I can see, there is far less money from your average punter coming into the markets.
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no many r going to pay 6.5 - 7.5% basic comm.
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not
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matchbook is only 1%, smarkets 2%, y pay 6.5%+.
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sorry which markets do you pay 6.5% on??
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international betfair customers have had commission raised with some being charged up to 7.5%.
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The market base rate specified in the 'Rules' tab in the 'full market view' of a market is as follows:
For customers resident in the UK, Ireland, Italy, Gibraltar, Malta, and Denmark the default market base rate is 5% For customers resident in Albania, Armenia, Croatia, Monaco, Serbia & Montenegro, and Slovakia the default Market Base Rate is 7% For customers resident in all other countries the default Market base Rate is 6.5% |
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Surely its only a matter of time before we see a tiny increase in UK based commission. I wouldnt be surprised to see 5.5%-6% basic in a few months.
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More like only a matter of time before a well funded new entrant comes into the market with a more innovative peer to peer betting product.
Fail to meet the needs of customers at the right price will result in the customer base disappearing en masse when a better product or service appears at a more reasonable price. Only a matter of time now. |
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westender a few points for you
: how can a product be better , more innovative than what we have at betfair ? : there already is another exchange with cheaper pricing , why is no one moving over there to use it ? : the PC charge will never be removed , it may be restructured as in pricing terms , but you will be effectively paying the same . if you pay PC , you can telephone them and discuss anything you are worried about or dislike , but you will be basically told that there are no plans to remove it ( no matter what is said on here as to how it is affecting the markets/liquidity or any valid/good points made on here ) |
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That is what the bookmakers thought before Andrew Black launched Betfair.
Those businesses that stand still are going backwards and will eventually be obsolete when a new innovative business appears in the market. Technology is advancing relentlessly with time and the next 'Betfair' Betfair and Betduck will be left behind as neither are meeting customer needs or as you state acting on customer feedback. Those business that fail to listen and/or provide what customers want have no long term future. Only a matter of time |
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The next 'Betfair' whatever it is called will be far superior to anything in the current market.
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I'd like to agree with Westender. I do agree with Harold Lloyd.
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Big gap in the market now with a grossly dissatisfied customer base at Betfair and Betduck - it will be filled.
Only a matter of time |
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westender , the only thing people are not happy about with betduck is no liquidity .
the only thing people are unhappy about with betfair is PC . true , if there was another company that could rival betfair for liquidity , all or most PC payers would move , leaving this place with not much liquidity , which in turn would mean recreational players won't place a bet here , which means a downward spiral . but it is not happening at the moment and given that betduck have had ample opportunity maybe it wont happen until china ,india , or America open there markets for exchange betting . |
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What don't you use Matchbook and Smarkets? Same or better odds and less commission.
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Why*
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yomomma , probably due to in-running liquidity
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I like Matchbook but they desperately need to add more markets. They don't even have To qualify for tonight's champions league ties.
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Betduck have failed to increase the range of markets hence the lack of people switching over.
Think what Betfair have failed to realise is that only a small percentage of people are into betting and these people can very easily spend their money elsewhere on other gambling or non gambling activities. That leaves Betfair with a continuous shrinking business and reach a stage when it will no longer be viable. The small standalone BetSquare Sportsbook will be all that is left.  |
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westender , I doubt it is lack of markets , people that bet on horses only need win and place markets , on betduck there is money pre race , so long as the odds you want are below that of on here , but in-running there is not much money .
so it is liquidity that rules , and that is only found here as people over the years have bots etc set up which provides it . |
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Liquidity is no different to flies attracted to a pile of grit.
When a new pile appears that is fresher than the stale pile in existence, the flies all move. Only a matter of time. |
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The problem with that statement, Westender, is that if you trawl back far enough you'll see the same almost word for word from about 2008......
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Understand mate but Betfair's business and customer goodwill has increasingly declined month by month since 2008.
New entrants will find it much easier to gain a significant market share now or with every passing month as Betfair popularity continues to decline. Look at the decline in market share for the Apple IPhone and IPad to see that those who become complacent struggle badly when new products arrive in the market. Betfair has had it easy so far and only a matter of time before the increasing gap in the market is filled. |
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Most people understand that Betfair need customers far more than customers need Betfair as there is a plethora of other betting and non betting activities to spend our money.
Gambling is not a life necessity for 99.999999% of the population. We all survived pre Betfair and the world will not end post Betfair. |
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but it is not happening at the moment and given that betduck have had ample opportunity maybe it wont happen until china ,india , or America open there markets for exchange betting .
I thought India was one of the biggest customers of Betfair after UK punters. |
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INDIA? gambling is frowned up by muslims and sikhs
what makes me laugh is the that everyone says betfiar days are numbered, including me, but their share price says they're going nowhere, that's the reality so our rants are pointless, as our ideas |
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if you look on Alexa for Betfair percentage of visitors and rank in country:
United Kingdom 34.7% (133) India 7.1% (1,963) Portugal 4.3% (184) Russia 3.5% (2,341) Brazil 3.5% (1,423) |
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i didn't realise that frog .
so is it legal in india to use betfair ? |
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well that is a surprise,
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I thought Betfair applied for a license in Sikkim before it was shelved. It is a grey market. If you look at the amount of turnover on IPL games (£25m average) I think its fair to say money is filtering through from the massive Indian market for cricket.
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Massive amounts of money on cricket matches in India and Pakistan, clearly moved by money over there. Hansie Cronje's black market bookmaker was Indian. There's a massive market for betting in the subcontinent.
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Matchbook are Betfairs main competitor, they have good liquidity and low commission rates, however their operating platform needs more investment,as well as more markets. why pay 20 / 40 / 60 percent on winnings when you can pay 1 percent elsewhere. I am using them much more, and actually feel like a winner when i win, whilst not having to keep watching how much commission i am generating and how much i am going to give betfair each week.
Saying this, i believe a workable charge for using the betfair service is more than reasonable, however 40+ percentage P/C on winning weeks and a zero rebate policy, has caused, and will continue to cause the existing betfair customer base to bet elsewhere. |
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Think Betfair need to understand that people can spend their money elsewehere on betting or non betting activities.
If my local pub decided to up the price of a pint from £4 o £40 then it would result in nearly all the customers drinking elsewehere and it would close. Betfair is on this path to closure and only a matter of time before a 'new pub' appears providing a better service at reasonable prices. |
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NO LIQUIDITY= NO BET is the ethos of the serious money punters.Shame they are leaving everyday.
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How come Matchbook doesn't get ****ed out by betfair whereas Bet-duck does if you spell it in it's proper way.
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I don't like the fact no amounts matched are shown on MB. Also the 1% is on turnover not gross win per market so cannot compare prices.
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I had a quick look last night and like someone else said I was disappointed in the lack of markets. For example tomorrow's 4th ODI between England and India had literally just the match odds market. Betquack also fails in this area although at least it does have more than matchbook.
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frog, they do commission per market as apposed to turnover, all you have to do is ask
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If that is the case they should it make it more clear on their site.
They state time after time that you pay 1% commission on every bet (both winning and losing). |