General Betting
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07 Apr 14
02:09
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16 Jan 08
http://www.bettingtraderblog.com/2014/04/betfair-exchange-domani-la-partenza.html
Right now after some years without it, betfair will return exchange betting to Italy and Spain, but they are closing the .com accounts to force people to open accounts under IT and ES domains.
Anyone knows if that countries share the money with betfair.com adn we will see an increase of money available on the markets or they will operate like a complete independent market?
Right now after some years without it, betfair will return exchange betting to Italy and Spain, but they are closing the .com accounts to force people to open accounts under IT and ES domains.
Anyone knows if that countries share the money with betfair.com adn we will see an increase of money available on the markets or they will operate like a complete independent market?
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As I already replied to you on basketball forum...
Betfair will launch tomorrow a new italians only site, with separate liquidity. So they are accepting italian customers now but their money won't show up here. On the other hand BF still had (probably) thousands of italian long timers, registered before the "regulated market fever". Their accounts will be terminated tomorrow so they'll be forced (or "kindly asked", if you prefer) to join the new italian exchange. So they are going to be less liquidity with immediate effect, not more. A spaniard will eventually clarify the situation for Spain, I don't know. |
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Sorry for the double posting, I'd put here too to see if someone can give light
As I said there, I searched all over the internet and I can't find any information about the market sharing between .com or .it As .it could be a different register to operate for all customers under italian law and have a controlled market of deposits and profits, but they could share a global market that maybe is not contrary to the new regulation. For that reason I was looking or asking for sure how will be, because ending the .com accounts doesn't mean that the .it will not share a common market as they do right now the UK with one and the rest of the countries with a shared one on other country, I don't remember if was cyprus or czech republic. |
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I reply here also just to give further info to the casual readers, it's almost the same post i wrote on the other forum.
Unluckily that's the truth. The italian market is heavily regulated, the government wants his share of the money and that requires "national liquidity" with iron control on the country players and their money. BF had to buy a license to operate in Italy, it isn't cheap and current regulations don't admit sharing of the money. It required years of debate just to let them to operate an exchange because of legal issues. Just to give you an idea about the absurd level of bureaucracy, Italians can't bet between 3 AM and 7 AM on ANY bookmakers. That's because they believe that making a punt late night is a clear indicator of pathological gambling. Isn't it laughable? There are talks going on about a united market with Spain and France in future. But eventually it will regards poker rooms first(they are in deep crisis in half of Europe because of their "closed gates" policy, not enough players to sustain xx poker rooms in each country). Then - and i'm making a big leap of faith - it may involves bookmakers also in a far future. It is years from happening if ever  |
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Add Russia to the list:
"Betfair’s withdrawal to regulated markets has taken a further step with the announcement that it will no longer accept new players from Russia. A company statement to affiliates, seen by pokerfuse, explains that as the result of “recent developments within the Russian market,” the group is “ceasing acquiring customers in Russia as of Friday 11th April 2014. The company is also stopping all marketing spending, and removing the Russian language links to its site" |
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Itailans wont appear here though. We didnt have any postitive news for exchange for very long period know(few years- things are only taken away from exchange)
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They now have a set-up where comm. will be charged at 20% on Italian clients' exchange winnings but Italisn sportsbook punters will get the exchange price less a mx. of 5% comm.
Possibly this is the model they shd have had in the first place. Surely the Spanish & Italian ruling will get them thinking...? |
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Is that a percentage of winnings charged on each individual bet or on an event basis for the exchange i.e net winnings per event
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hi, I would like some information.
I'm italian and I can no longer bet on betfair.com I would like to understand, at the time of enrollment and thereafter, such documents are requested by Betfair? need an identity document to be sent by mail? want a copy of the credit card or Neteller goes well (with neteller can not verify who owns the account)? then ask what else thanks and sorry for bad English |
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Why not ask Betfair? They know the answer better than forumites and they have native Italian speakers on their .it helpdesk.
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No way, italian liquidity is separated from .com
Premium Charge 2 up to 60% is still valid (after 1 year) .it helpdesk is useless ;) |
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liquidity is separated from .com does not make sense. Are you sure about this ? that is not good ... it is useless. My dream is that betfair operates in all Europe and USA unified, that would be nice.
separated liquidity is the same as nothing lol |
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Perhaps the 'loop hole' is in place:
1) Exchange is with seperate liquidity. 2) Will/is the sportsbook available in Italy? re: Italian punter places 100 euro bet on sportsbook Sportsbook then trades/invests/spreads some or all of 100 euro bet on british exchange.  |
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one thing betfair havent realised is charging italians 20% standard commision and charging other eu citizens difefrent commision rates is completely against what the eu stands for.
fair enough if they charged the russians for instance 20%. i know there are diffrences in local taxation but that means imo betfair cant offer this product if its not on the same commision basis to other eu citizens. only way around it is to pay italy a rate.... you see what betfair have done is the sneaky thing here. |
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Your assumption is betfair is getting 20%. My understanding is x percent will be left to their government (it may be 75% of the commission).
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oh so betfair may only charge normal or slightly higher commission?
must have misread. |