What would make you move your business to Betdaq?
Betdaq came down to see me this morning in our new offices. We talked about many things and some interesting concepts but one of the key questions they asked me is, "What do they need to do to get more business". I told them that this is a question best asked to our customers. So, over to you.... what would make you shift your business to Betdaq, what do you need them to do?
I'll make a start and I am sure others can add plenty!!
Concentrate on what Betfair doesn't do well first:
1. A reward scheme based on Turnover. Bit like the reward schemes undertaken by Airlines and Good quality hotels. Prizes offered could be sporting breaks, match tickets, own a horse for the day, trip to the Derby, Breeders Cup, Melbourne Cup, Wimblemdon. You Get the idea.
Daily/weekly flash prizes also good.
This encourages turnover and therefore liquidity.
2. Nominal Interest on account balances. For most of us we keep reasonably large balances in our account which greatly increases cash flow for the exchange. We don't see any reward for this.
Again this will encourage turnover and customer retention.
3. A statement from Betdaq re their ethos on the exchange and would they consider penalising winners such as Betfair?
4. To encourage new accounts why not offer a 4-12 week period of commision settlement on daily activity not just every race. This means that net daily losers don't pay commission
This means that they are likely to stay around longer!
Hope that's good enough for starters.
Concentrate on what Betfair doesn't do well first:
1. A reward scheme based on Turnover. Bit like the reward schemes undertaken by Airlines and Good quality hotels. Prizes offered could be sporting breaks, match tickets, own a horse for the day, trip to the Derby, Breeders Cup, Melbourne Cup, Wimblemdon. You Get the idea.
Daily/weekly flash prizes also good.
This encourages turnover and therefore liquidity.
2. Nominal Interest on account balances. For most of us we keep reasonably large balances in our account which greatly increases cash flow for the exchange. We don't see any reward for this.
Again this will encourage turnover and customer retention.
3. A statement from Betdaq re their ethos on the exchange and would they consider penalising winners such as Betfair?
4. To encourage new accounts why not offer a 4-12 week period of commision settlement on daily activity not just every race. This means that net daily losers don't pay commission
This means that they are likely to stay around longer!
Hope that's good enough for starters.
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sdistefano
- Posts: 10
- Joined: Mon Jul 27, 2009 1:35 pm
Betdaq also has some restrictions that betfair has not, and this is an annoyance:
1) At least for international customers, you have to verify your account with a photocopy of your passport to make any withdrawings
2) to make automated software (in other words, to make use of their API), you have to ask them special permission!
I dont think betdaq is currently in any position to pose these restrictions that betfair can do without...
1) At least for international customers, you have to verify your account with a photocopy of your passport to make any withdrawings
2) to make automated software (in other words, to make use of their API), you have to ask them special permission!
I dont think betdaq is currently in any position to pose these restrictions that betfair can do without...
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MarketTrader
- Posts: 118
- Joined: Wed Mar 18, 2009 12:34 pm
- Location: UK
For my part Betdaq have annoying 'detail' type issues.
For one - the markets are not arranged in alphabetical order. So you have Horse Racing at the top and Boxing somewhere near the bottom.
The minimum bet issue can be frustrating. Sometimes, when creating a book there may be a bet that just sneaks below 50p. This gets rejected and I can't tidy the book. This must be really off putting as a beginner especially as Betfair allow this.
But in terms of making the Betdaq prospect more attractive then money talks. I guess less commission and no premium charge (although I am not lucky enough to pay that charge) would be a good starting point.
Ensuring they continue to invest in the API and do not suffer from the API problems would also be vital. If punter tries Betdaq Angel and has a bad API experience then it is unlikely they will return or trust it again.
The liquidity question is a bit chicken and egg. So I won't mention that.
Oh - and I don't like purple.
For one - the markets are not arranged in alphabetical order. So you have Horse Racing at the top and Boxing somewhere near the bottom.
The minimum bet issue can be frustrating. Sometimes, when creating a book there may be a bet that just sneaks below 50p. This gets rejected and I can't tidy the book. This must be really off putting as a beginner especially as Betfair allow this.
But in terms of making the Betdaq prospect more attractive then money talks. I guess less commission and no premium charge (although I am not lucky enough to pay that charge) would be a good starting point.
Ensuring they continue to invest in the API and do not suffer from the API problems would also be vital. If punter tries Betdaq Angel and has a bad API experience then it is unlikely they will return or trust it again.
The liquidity question is a bit chicken and egg. So I won't mention that.
Oh - and I don't like purple.
pretty simple for me.
a betangel that has the same features as the betfair version including last traded and more liquidity.
I know they are after answers on how to attract me in order to get the liquidity so I guess maybe some sort of bonus related to turnover to attract me over??
Something like turnover a couple of million in a month and get tickets to there box in chester or something??
a betangel that has the same features as the betfair version including last traded and more liquidity.
I know they are after answers on how to attract me in order to get the liquidity so I guess maybe some sort of bonus related to turnover to attract me over??
Something like turnover a couple of million in a month and get tickets to there box in chester or something??
Two ideas I can think of quickly that may produce liquidity,
1) Special deals on Saturdays, something like low commision or no commision on certain races. As Betfair is crap on these days and it hits traders the hardest, I would expect quite a few of us to give it a go with a little incentive.
2} Get Betdaq to sponsor Peter to do his Mr £10 thingy on Betdaq, would think it will get quite a bit of interest.
1) Special deals on Saturdays, something like low commision or no commision on certain races. As Betfair is crap on these days and it hits traders the hardest, I would expect quite a few of us to give it a go with a little incentive.
2} Get Betdaq to sponsor Peter to do his Mr £10 thingy on Betdaq, would think it will get quite a bit of interest.
To be honest I was put off using Betdaq as I had heard that they were having money problems.? But if your happy there not then I might consider going over there.
Also one other thing they have 2 different sites .com and .co.uk. how does that work as I can log in to one but not the other. Do they still have the same amount matched on the markets eg. sharing
Cheers
Jimmy
Also one other thing they have 2 different sites .com and .co.uk. how does that work as I can log in to one but not the other. Do they still have the same amount matched on the markets eg. sharing
Cheers
Jimmy
If you could get a big enough group together of people that will definately commit to betdaq then I would add myself to the list and commit one day a week as long as everyone could agree the day.
It would make an interesting experiment if nothing else and may prove to be a tipping point if it is succesful.
It would make an interesting experiment if nothing else and may prove to be a tipping point if it is succesful.
I would love to be able to trade on Betdaq full time. I did try it at one point last year. In the end I had to admit defeat due to the liquidity issue.
I am not sure that moving the traders would make all the difference. I think they need a higher profile amongst punters. How many people that you know have heard of Betfair but know nothing about Betdaq?
They really need some big publicity campaign. Maybe a competition with a great prize.
I love purple
I am not sure that moving the traders would make all the difference. I think they need a higher profile amongst punters. How many people that you know have heard of Betfair but know nothing about Betdaq?
They really need some big publicity campaign. Maybe a competition with a great prize.
I love purple
I tried betdaq a while back and found that I just couldn't lose as much as I can on betfair.
The two main reasons I don't use betdaq are 1) not as much liquidity (but for the amounts I trade that isn't always a problem) and 2) the trading software isn't as good as betfair.
what would make me move to betdaq?
Nothing at the moment, and even if I start paying premium charge why would I want to move if I'm being successful on betfair.
80% of a lot is better than 100% of a little.
The two main reasons I don't use betdaq are 1) not as much liquidity (but for the amounts I trade that isn't always a problem) and 2) the trading software isn't as good as betfair.
what would make me move to betdaq?
Nothing at the moment, and even if I start paying premium charge why would I want to move if I'm being successful on betfair.
80% of a lot is better than 100% of a little.
"Nothing at the moment, and even if I start paying premium charge why would I want to move if I'm being successful on betfair.
80% of a lot is better than 100% of a little."
Cran - I'd love you to come back and say that again once you start paying it. It's very hard to put in the hours and then have 20% taken off you at the end of the week after you've already paid 4% (in my case) commission
80% of a lot is better than 100% of a little."
Cran - I'd love you to come back and say that again once you start paying it. It's very hard to put in the hours and then have 20% taken off you at the end of the week after you've already paid 4% (in my case) commission