Betdaq exchange : Betdaq XSP Permissions (banned)

The purple place, the most viable alternative to the Betfair exchange
Post Reply
LinusP
Posts: 1706
Joined: Mon Jul 02, 2012 10:45 pm
Contact:

Tue Dec 18, 2018 10:50 am

So I have been banned from Betdaq XSP, anyone else had this before? Only been taking for about a month with only around 7k in profit.

By the looks of things they take the exposure unlike Betfair..
89F929E5-5CE7-4E9B-A779-EDF52DE957E7.png
You do not have the required permissions to view the files attached to this post.

User avatar
Dallas
Posts: 14454
Joined: Sun Aug 09, 2015 10:57 pm
Contact:

Tue Dec 18, 2018 11:05 am

Its the first I've heard of it happening to anyone

Bear's The Name
Posts: 60
Joined: Thu Mar 05, 2015 9:04 am

Tue Dec 18, 2018 12:24 pm

That is very worrying as I use Betdaq XSP as part of my betting strategy - without the failsafe of SP to balance things up I would be horribly exposed in many markets.

Do you mind if I ask roughly what you were doing? Not in detail, obviously - just a general idea.

LinusP
Posts: 1706
Joined: Mon Jul 02, 2012 10:45 pm
Contact:

Tue Dec 18, 2018 12:59 pm

Bear's The Name wrote:
Tue Dec 18, 2018 12:24 pm
That is very worrying as I use Betdaq XSP as part of my betting strategy - without the failsafe of SP to balance things up I would be horribly exposed in many markets.

Do you mind if I ask roughly what you were doing? Not in detail, obviously - just a general idea.
I was using it outright, no other orders in the market only XSP, on all UK/IE racing, 90% of the runners, turning over about £500 per race.

Bear's The Name
Posts: 60
Joined: Thu Mar 05, 2015 9:04 am

Tue Dec 18, 2018 1:45 pm

Hi Linus,

According to the FAQ's on their site, they guarantee an XSP liability of up to £3k on UK racing and £1.5k on Irish racing if there aren't enough layers. I am assuming you are a backer.

My guess is the same as you suggested in your earlier post - that there aren't enough layers in the market so you have been winning BQ's money rather than other punters.

I do leave lay bets up to convert to XSP if unmatched but it's a small percentage of my overall bets (probably less than one quarter) and I am a much smaller players than you so sadly not enough to help.

User avatar
Euler
Posts: 19465
Joined: Wed Nov 10, 2010 1:39 pm
Location: Bet Angel HQ
Contact:

Tue Dec 18, 2018 2:24 pm

That's a new one for me, I put a lot through at XSP and haven't had a problem. But I'm pretty evenly distributed across both sides of the book.

LinusP
Posts: 1706
Joined: Mon Jul 02, 2012 10:45 pm
Contact:

Tue Dec 18, 2018 4:55 pm

I was backing and laying, pretty much even on the amounts, just emailed asking if I can have use of XSP as a backup and place orders into the market but been told I am permanently banned.

spreadbetting
Posts: 2740
Joined: Sun Jan 31, 2010 8:06 pm

Tue Dec 18, 2018 5:04 pm

Not too surprised they've barred you if you were taking £7K out in your first month and it came out of their pockets, especially as you'd obviously found a niche covering 90% of the runners at their SP. The fact they were standing liabilities themselves to £3K would always leave them open to being picked off especially on lower liquidity markets. Have you posted on twitter etc to see if others have also been barred?

Bear's The Name
Posts: 60
Joined: Thu Mar 05, 2015 9:04 am

Tue Dec 18, 2018 5:13 pm

Do you think it is layers they are short of or backers?

Presumably it has to be one or the other as if things were reasonably balanced they wouldn't be needing to put up their own money?

Forgive me if this is a naive comment, I've never fully understood all the nuances of the XSP/ BSP systems.

LinusP
Posts: 1706
Joined: Mon Jul 02, 2012 10:45 pm
Contact:

Tue Dec 18, 2018 5:52 pm

spreadbetting wrote:
Tue Dec 18, 2018 5:04 pm
Not too surprised they've barred you if you were taking £7K out in your first month and it came out of their pockets, especially as you'd obviously found a niche covering 90% of the runners at their SP. The fact they were standing liabilities themselves to £3K would always leave them open to being picked off especially on lower liquidity markets. Have you posted on twitter etc to see if others have also been barred?
I was well under what they garrentee and to be honest I though I would be helping their liquidity in XSP but looks like they cover the liability. Its tricky to work out as the XSP price almost seems random, can be very different to BSP.

Post Reply

Return to “Betdaq exchange”

  • Information
  • Who is online

    Users browsing this forum: No registered users and 1 guest