I’ve just seen a promo banner appear on Betfair which gave details on how the sportsbook will look and work. You can find out more details here: -
It looks like we finally have the launch of the sportsbook. Clicking into Euro 2012 football market provides the option to view both fixed odds and exchange odds. Exchanges odds are way better than the fixed odds. I can’t see any value add to a customer on placing a fixed odds bet in the market?
I’ve already had a tweet on somebody who says he was restricted to £10 when trying to place a bet on Tennis Market using fixed odds. It remains to be seen what this will do for Betfair’s business. I guess they are hoping for some additional margin from these sources, though that have positioned it as ‘value add’ to their customers.
Some of you may remember the noise that Betfair made about their own version of SP, which is essentailly a fixed odds bet. Obviously that wasn’t good enough. It didn’t seem to have as much impact as was thought it may have.
For me it feels like they are heralding the invention of a propeller based airplane, having started with a jet engine. I’m pretty sure innovation on the exchange is the key to their future. Not a legacy from the past. But I guess we will see over the coming months.