General Betting
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17 Jan 14
17:52
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Date Joined:
17 Sep 02
Any views on this? Details from the Betangel blog:
http://www.betangel.com/blog_wp/2014/01/17/betfair-link-sportsbook-exchange/
In a positive move for exchange liquidity Betfair have finally linked up the Sportsbook front end to the exchange mechanism.
In only appears to be on Football markets at the moment but no doubt more markets will follow. As it now stands anybody placing a bet on the Sportsbook will automatically see their bet ‘referred’ to the exchange. If the exchange price (less 5% commission) is better than the sports book price, then the bet is placed via the exchange mechanism.
The exact mechanism is via what Betfair have termed a ‘Betfair boost’. When people try to place the bet on the Sports book it will inform them that they have a better price. If they want to find out more a link leads to detail of how they managed to pick up better odds thanks to the exchange.
This neat for a few reasons, but the key factor for Bet Angel users now is that the liquidity that could have been lost via the Sportsbook is now finding it’s way back onto the exchange. From Betfair’s perspective customers who were confused by the exchange can now place a fairly standard user friendly back bet into a Sportsbook but benefit from the better liquidity and pricing on the exchange. It’s a win, win!
It will be interesting to watch what impact this has on the exchange markets.
http://www.betangel.com/blog_wp/2014/01/17/betfair-link-sportsbook-exchange/
In a positive move for exchange liquidity Betfair have finally linked up the Sportsbook front end to the exchange mechanism.
In only appears to be on Football markets at the moment but no doubt more markets will follow. As it now stands anybody placing a bet on the Sportsbook will automatically see their bet ‘referred’ to the exchange. If the exchange price (less 5% commission) is better than the sports book price, then the bet is placed via the exchange mechanism.
The exact mechanism is via what Betfair have termed a ‘Betfair boost’. When people try to place the bet on the Sports book it will inform them that they have a better price. If they want to find out more a link leads to detail of how they managed to pick up better odds thanks to the exchange.
This neat for a few reasons, but the key factor for Bet Angel users now is that the liquidity that could have been lost via the Sportsbook is now finding it’s way back onto the exchange. From Betfair’s perspective customers who were confused by the exchange can now place a fairly standard user friendly back bet into a Sportsbook but benefit from the better liquidity and pricing on the exchange. It’s a win, win!
It will be interesting to watch what impact this has on the exchange markets.
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Is this active yet? Just tried a couple of sportsbook markets - max win about £5 and no "boost" despite liquidity on the exchange at better prices. And my bets weren't matched on the exchange.
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The link above said it's being used on a few football markets. There's also an image on the blog which shows it's still in Beta stage. Betfair certainly aren't promoting yet, so not sure how it works at the moment.
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step in the right direction...
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Well it sounds like an improvement but why not just put the exchange prices up for people to decide if they want to bet on them in the first instance. Couldn't bf have started with a simple style skin of the exchange and then added their sportsbook odds into it.
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Hopefully the management are realising that they have to advertise to the losing but moderately discriminating punter on price.
Bet 3.65 have expanded massively through poor-ish copycat prices and heavy advertising. Bf shd even think of guaranteeing they will beat .65's price (they invariably do anyway, in that the recreational books automate their offers to stand off exchange prices) within any second on the horses after 10am or 12pm. They shd then ram this down the punter's throat w/ adverts mocking Ray Winstone ('looks like you're on a loser, Ray') and hammering home price. Bf's management have to go against all their instincts as bookmaking executives to make any headway against casual bettor inertia. They must always be better on price and shd really be completely indifferent as to who win. They shd only care about efficient prices. So long as there is a commitment to an exchange, bf will have kept up their side of a deal w/ winners & professionals. These people will be able to find a way to win w/ a supply of casual pricetakers. |
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@bingo bongo "why not just put the exchange prices up for people to decide if they want to bet on them in the first instance"
Because then the bettor has to deal with (potentially) unmatched/partially matched bets. If he was happy with that, he'd be betting directly in the Exchange like we all are. The way BF are doing it, either the bettor gets the sportsbook bet he was asking for or he gets (what looks like to him, regardless of what's done 'under the hood') a sportbook bet at a better price. Nice simple experience for unsophisticated recreational punter. |
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Well you wouldn't allow unmatched bets. Every bet on the sportsbook is restricted in size anyway, if there is not enough money on the exchange then a limit would apply just as it does now.
It just seems as though bf have gone about this backwards. If this boost works as it sounds it should then most of the sportsbook odds will be wrong and punters will be betting on mystery prices. |
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I think BF are doing OK on this in term of making it a price boost, if available.
It would not make sense at all to just put the exchange price onto the sportsbook mainly as there would be a plethora of £2 bot bets at the front end of the queue which would satisfy almost nobody's stake request and would just make the whole BF experience even more frustrating than it already is. |
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Yep, this method makes a lot of sense for the punter using the sportsbook. Whether we like it or not, there are plenty of people who find the exchange (and the concept) too difficult. They just want to be able to have a bet in the traditional method. If Betfair copied Ladbr0kes' route by having Betfair exchange prices/amounts with a Betfair Sportsbook skin, this would defeat the purpose.
The message that a punter has received a better price (a 'Betfair Boost') thanks to the exchange will result in some exploring/discovering the exchange, which is what we want. It will also encourage people to use the Sportsbook as they know there's a chance they can get a 'Boost'. How this affects the exchange ecosystem remains to be seen. |
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The sportsbook could look and work exactly as it does now, I was just suggesting displaying the correct odds - maybe with £100 minimum liquidity on the exchange (bet view does this already). I accept that the boost concept could be good promotion for the sportsbook and exchange, but so would better headline prices. Anyway I'll shut up about this now.
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@bingo bongo - that would be confusing for multiples customers - the boost seems to be for singles only
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