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Betfair Helpdesk
I do thank for your reasoned response. You are absolutely right exchanges are fundamentally flawed. By making a non runner deduction from both stake and potential odds you are going against the one golden rule of betting and the bookies. It cannot be right to make deductions from stake for non runners. ''If you cannot win you cannot lose''.
It would be a minor anomaly if it was only shorties but we regularly see 10% reductions across both stake and potential odds on horses above 20/1. I cannot agree with your assertion on this particular matter that in the long term you will generally receive better value and delaying bets were possible is definitely to be recommended.
Quite honestly this cannot be right and because it is so skewed in favour of the layer your lack of professionalism in posting non runners up to 30 minutes after the bookies just allows market manipulation by layers. I note you have completely failed to address this point. Why?
Many thanks
placey
From: "info@betfair.com"
To:placey
Sent: Wednesday, 21 November 2012, 10:20
Subject: Re: Realtime Site Feedback Alert (OpinionLab)
Dear Placey,
Thank you for your feedback.
Regrettably this is one of the fundamental flaws with Exchange betting as we deal in decimals and not the traditional odds. Standard Bookmakers can be more generous to the backer as they are running books with incredibly high overrounds. As a result if they are laying the bets, they don't need to worry about keep themselves happy. Alternatively with Betfair being an Exchange, we need to be as fair as possible to both the backer and the layer
Unfortunately if you back a relatively favourable horse and the favourite or second favourite is later withdrawn, you will unfortunately be affected by a significantly larger reduction with us. This is something you must be aware of going forward but given the frequency of this actually happening, over the long term generally you will still be getting better value with Betfair.
Please do not hesitate to contact us if you have any further inquiries.
Kind regards,
Betfair Helpdesk
I do thank for your reasoned response. You are absolutely right exchanges are fundamentally flawed. By making a non runner deduction from both stake and potential odds you are going against the one golden rule of betting and the bookies. It cannot be right to make deductions from stake for non runners. ''If you cannot win you cannot lose''.
It would be a minor anomaly if it was only shorties but we regularly see 10% reductions across both stake and potential odds on horses above 20/1. I cannot agree with your assertion on this particular matter that in the long term you will generally receive better value and delaying bets were possible is definitely to be recommended.
Quite honestly this cannot be right and because it is so skewed in favour of the layer your lack of professionalism in posting non runners up to 30 minutes after the bookies just allows market manipulation by layers. I note you have completely failed to address this point. Why?
Many thanks
placey
From: "info@betfair.com"
To:placey
Sent: Wednesday, 21 November 2012, 10:20
Subject: Re: Realtime Site Feedback Alert (OpinionLab)
Dear Placey,
Thank you for your feedback.
Regrettably this is one of the fundamental flaws with Exchange betting as we deal in decimals and not the traditional odds. Standard Bookmakers can be more generous to the backer as they are running books with incredibly high overrounds. As a result if they are laying the bets, they don't need to worry about keep themselves happy. Alternatively with Betfair being an Exchange, we need to be as fair as possible to both the backer and the layer
Unfortunately if you back a relatively favourable horse and the favourite or second favourite is later withdrawn, you will unfortunately be affected by a significantly larger reduction with us. This is something you must be aware of going forward but given the frequency of this actually happening, over the long term generally you will still be getting better value with Betfair.
Please do not hesitate to contact us if you have any further inquiries.
Kind regards,
Betfair Helpdesk
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placey - try laying a book on here at close to 100% with reduction factors that add up to 95% minus commission minus PC and you'll soon change your tune. I'm surprised there's any layers left on here.
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Looks like a refreshingly honest answer tbh.
This is why early liquidity is so poor on the exchange. No point in winging about it, you just are aware of the market conditions & place your bets accordingly. |
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...... as we deal in decimals and not the traditional odds.
? so that's why it is |