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http://www.telegraph.co.uk/culture/books/bookreviews/10741899/Flash-Boys-Cracking-the-Money-Code-by-Michael-Lewis-review.html
High Frequency Trading the next financial disaster area according to Michael Lewis. Isn't this BF's problem too?
High Frequency Trading the next financial disaster area according to Michael Lewis. Isn't this BF's problem too?
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It's a good question. If we remember the Volar La Vedatta incident, the Scouseberry clock beating, the sticky bets bug and the court case recently thrown out in Australia its hard to work out what is going on.
Clearly there are a number of potential gliches in the exchange that people will try to exploit. That's the trouble with internet betting (or betting in general) there are always people unwilling to play by the rules of fair play. Some people are willing to try to make money by any means possible.
I think the reason the exchange model has unfortunately failed is because the leading exchange did not do enough to encourage punting. The whole trading/HFT aspect has taken over. Why bother to get a 4% advantage on the 4.30 at Chepstow when if I can get a server near enough to Betfair's and develop some models I can trade 'risk free' at a 0.5% margin race to race?
It has really gone too far. When you have guys at every racecourse, every tennis tourny etc just trying to beat the clock eventually it is going to catch up with you.
But to be fair to the founders there was probably never a set plan for the future. The key early on was to get liquidity by any means possible.
If they had had their time again maybe they would have followed Feck's advise on the interface and the clock countdown. Who knows? Maybe there are not even bothered as they have their bundle of cash. But deep down they must be slightly disappointed that the betting landscape (apart from high margin in play soccer odds for the majority) is unchanged.
Clearly there are a number of potential gliches in the exchange that people will try to exploit. That's the trouble with internet betting (or betting in general) there are always people unwilling to play by the rules of fair play. Some people are willing to try to make money by any means possible.
I think the reason the exchange model has unfortunately failed is because the leading exchange did not do enough to encourage punting. The whole trading/HFT aspect has taken over. Why bother to get a 4% advantage on the 4.30 at Chepstow when if I can get a server near enough to Betfair's and develop some models I can trade 'risk free' at a 0.5% margin race to race?
It has really gone too far. When you have guys at every racecourse, every tennis tourny etc just trying to beat the clock eventually it is going to catch up with you.
But to be fair to the founders there was probably never a set plan for the future. The key early on was to get liquidity by any means possible.
If they had had their time again maybe they would have followed Feck's advise on the interface and the clock countdown. Who knows? Maybe there are not even bothered as they have their bundle of cash. But deep down they must be slightly disappointed that the betting landscape (apart from high margin in play soccer odds for the majority) is unchanged.
Bots.
Watch some markets pre-off and see all the money apparently dancing about waiting to be matched. Then stick a bet in yourself and see how differently that money suddenly acts.
Watch some markets pre-off and see all the money apparently dancing about waiting to be matched. Then stick a bet in yourself and see how differently that money suddenly acts.
We are in the final few years of the Betfair exchange model.What saddens me the most is to see people still wasting their lives on here talking about it.
Every day you spend on Betfair you waste your money and you God given time on earth.Betfair has failed on so many levels.
Even the founders of Betfair with their enormous riches refuse to talk about it.It's over.Simple as that.Move on and don't waste you life on here.
It just doesnt pay anymore.
Every day you spend on Betfair you waste your money and you God given time on earth.Betfair has failed on so many levels.
Even the founders of Betfair with their enormous riches refuse to talk about it.It's over.Simple as that.Move on and don't waste you life on here.
It just doesnt pay anymore.
I'm somewhat surprised that no-one admits to being a "Flash Boy"
so, what pmbets? you can see everyone's p/l? that's clever, how do you do that?
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