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08 Jul 19 04:59
Date Joined: 19 Sep 10
| Topic/replies: 31 | Blogger: Iceman53's blog
Since yesterday Betfair  exchange don't allow place bets to be made,  not even on major tracks, like Belmont, Woodbine, Parx. Would someone explain to me, WHY NOT????!!!!
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Report phunkmonk July 9, 2019 3:09 PM BST
'Ive been trying to find out why this has happened for the last month, Delaware Park has no place markers anymore, the other day Belmont Park had all its place markets missing. Ive called them to request the place markets to be put back on, I received a reply saying that the traders won't put them on which is quite strange. Surely they make commission from these markets? Tracks like Mountaineer Park have the place markets and todays meeting at Parx has the place markets but yet they can't put them on for the other meetings during the week?  In the past if you request a market they usually put them on so quite confused to why they have suddenly been disappearing. If anyone has any info in this it would be nice to know whats going on.
Report Iceman53 July 11, 2019 1:15 PM BST
Here is Betfair's expanation:"As part of our continuing market rationalisation strategy, DESIGNED TO PROVIDE THE BEST POSSIBLE BETTING PROPOSITION  for our customers, Place markets will no longer be offered as standard for the following tracks....."!!!Now, you have it....
Report phunkmonk July 11, 2019 7:40 PM BST

By removing all the place markets for the best tracks, would love to to know the logic behind this decision.
Report wisewords July 11, 2019 9:04 PM BST
Report Iceman53 July 12, 2019 9:56 AM BST
In UK races, you can bet 4th, even 5th place, so what is this, if not discrimination???!!!
Report phunkmonk July 12, 2019 2:17 PM BST
Yet tracks like Emerald Downs, Prairie Meadows etc have the place markets. The biggest tracks have lost all the place markets while the lesser tracks have them?


Surely there is a department you can contact about this decision?
Report wisewords July 12, 2019 5:44 PM BST
what is a "market rationalisation strategy"?
Report Darlo Bantam July 12, 2019 8:06 PM BST
Report phunkmonk July 12, 2019 8:30 PM BST
market rationalisation strategy = meaning we can do what we like.
Report wisewords July 12, 2019 8:40 PM BST
rationalisation = apply rational thought. so the answer is that not enough people are using the place markets in comparison to how much time/effort it takes to set them up? they're not making enough commission out of them to justify offering them? somebody has to set them up, then settle them. I think BF are trying to say "we're making peanuts from these markets, it's far too time consuming to offer them"
Report wisewords July 12, 2019 8:43 PM BST
if only say £1,800 is traded on a place market, that's £900 on the winning side, so they're making no more than £45 out of it, and less than that when you take into account high comm reduction levels for big players. so it seems they don't see the point of offering the market when they're taking so little money for their effort.
Report wisewords July 12, 2019 8:44 PM BST
someone correct me if I'm wrong?
Report Iceman53 July 13, 2019 6:31 AM BST
Now-days EVERY WORK DONE BY COMPUTERS!!!! How much, you guess, to cost to click, a few times, on a place-market??? By the way, would you accept a restaurant refusing to serve you tap-water, becouse there is no profit on it? PLACE BETTING is just PART of the HORSE-RACING, please, don't make excuses for Betfair violating your FREEDOM of CHOICES!!!!
Report wisewords July 13, 2019 2:39 PM BST
If there's a close finish, things need to be manually check though Iceman. Any other opinions on the subject?
Report wisewords July 13, 2019 2:40 PM BST
and I'm not making excuses for Betfair, i'm trying to understand their reasoning!
Report Iceman53 July 13, 2019 4:30 PM BST
It took 20 years to Betfair To figure it out, that is :"TO PROVIDE THE BEST POSSIBLE BETTING PROPOSITION" equals killing place bets!!!No wonder, England to leave EU!!! Insanity......
Report jamee1 July 13, 2019 9:50 PM BST
Iceman, have you actually just tried to blame the loss of place bet markets at some US tracks on the EU?
Report jamee1 July 13, 2019 10:08 PM BST
Given BF said they were "trialling" withdrawal of place markets on a couple of tracks and now they have extended the removal it suggests to me that they were testing the impact of their removal on other markets. eg Perhaps by removing some place markets they are seeing a larger volume on remaining place markets as they focus attention of place players? Or perhaps they see some growth in the relevant win markets? It's a shame that the decision isn't explained a little better as less likely to cause friction if people understand the logic.
Report wisewords July 14, 2019 12:26 AM BST
Agreed jamee. A clear explanation would be nice.
Report Iceman53 July 14, 2019 5:04 AM BST
Wisewords, Betfair basically an English company/ England decide to leave EU-STUPID/, /Betfair decide to kill place market-STUPID/,/you are taking taking a profit-hungry company's side-......./
Report phunkmonk July 14, 2019 9:21 PM BST
Parx place markets are still available, there is peanuts matched on them and yet they still being offered, I highly doubt the reason is that they make any money from them  Take the 21:16 place market at Lonestar Park tonight for example.. there was £102 traded on the 3TBP market. Yet they are still being made for every meeting. Would be nice for some kind of explanation why they have kept the place markets for certain tracks.
Report wisewords July 14, 2019 9:42 PM BST
I second that phunkmonk. Would be good if they could explain so we could understand the logic
Report phunkmonk July 15, 2019 3:50 PM BST
I very much doubt that there will be an explaination to why Betfair have taken the place markets away wisewords.
It costs them hardly anything to put them on the exchange and you would think on the bigger tracks there would be much more volume traded on them, hence meaning more commission.
Parx Racing At Philadelphia Park has the full place markets available for todays meting yet again and I can't see much being matched on there. You would think tracks like Finger Lakes and Delaware Park would have much more volume traded on them on a Monday.
Report jamee1 July 15, 2019 5:59 PM BST
I dont know, but it could be they have to pay some sort of levy to the track or relevant US thoroughbred racing body for each market they offer. Costs might be different for different tracks or regions?
Report Iceman53 July 16, 2019 5:36 PM BST
First they have had a "TRIAL PERIOD" for Finger lakes in April, they said until the end of that month, so its not levy or any payment. They were always slow to settle place markets, so they just dont have the personnel during daytime.They took the easy way out: lets just kill it boys!! Not too many of us care about this anyhow. I dont get it: such nice prices you getting in exchange place pools, and people are ignorant of this!!!
Report phunkmonk July 28, 2019 2:00 PM BST
No more news or info on this. Tracks like Fort Erie today have full place markets available yet Saratoga who have graded races today have no place markets available.
Report sparrow August 14, 2019 9:37 PM BST
Not long ago betfair scrapped some extra of the extra place markets on UK racing but soon had to put them back after many complaints. They are really ruining interest in the US racing by withdrawing the place markets and as for layers wanting it well that is ridiculous as no one forces them to play. I can think of at least 6 races this week where there was a long odds on favourite and I fancied one to place but there was no market and so of course I did not bet. It is bad enough these days with most of the Sky televised markets not being available let alone withdrawing more markets. Oh for the good old days with Great Lakes, Hollywood Park etc.
Report Nebs August 14, 2019 10:53 PM BST
Perhaps they want you to bet each way on the sportsbook, for those allowed to bet on the sportsbook.
Report sparrow August 15, 2019 11:38 PM BST
You might well be right, nebs.
Although I  have no idea what they offer on Sportsbook as I have no interest in bookmaker betting.
Report RothmanMike August 17, 2019 12:30 AM BST
Lots of things missing from here, but still the best gig in town.
Where else can you watch the racing and have a bet on the US stuff after 12 in the morning.
Nick the beer money at your leisure on Penn, etc, what's not to like.
Report Iceman53 August 24, 2019 7:09 AM BST
I think, this whole thing in a relation to Betfair-Paddy Power fusion. Paddy Power got used to bigger, than 5% margin, so they are forsing you to bet the sportsbook more often. Of course, it would be a different story, if big time US players were using Betfair, as a main platform, but in most states, its illegal. Becouse of this, lets face it, US racin on Betfair exchange IS DYING
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