I usually do the rounds early in the year so will probably talk to them then.
I think the general problem with the industry as it stands is that most platforms want to drive net losers, so net winners are not that interesting to them.
Smarkets public API
Peter, have you ever thought about creating software for trading Asian bookmakers/exchanges. I know there are agents who offer APIs in the UK (or in fact you could see if it's possible to set yourself up as an agent and skip one layer of middlemen). I hear there is massive liquidity, they welcome winners, plus you get paid in rebates on turnover (think if you had a rebate on all the volume being pushed through BetAngel!). The only sticking point is perhaps it's a bit of a grey market. I'm sure most professionals or people aiming to become professionals would accept a bit of financial risk though. Trickier question might be whether you'd need a UK gambling license to operate as an agent passing through volume to Asia. Asian markets are something I'm going to investigate more once I have more time.
- ShaunWhite
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Maybe they've decided to work with one 3rd platform rather than get involved with several. Maybe one who are prepared to go in a Smarkets only direction if they're losing the battle for BF traders.
There seems little logic in pointing new users at a product that's massively Betfair centric, and the bigger customers they want to attract will find and use Smarkets anyway without having to see it bolted onto their usual software.
Who knows. I'm just glad to see other companies putting their money on the table to try and disrupt the status quo. It's easy to be dismisive but you don't invest a few million without having something cunning in mind.
I think you are misunderstanding what an API is, it's created for developers to build on top of.Naffman wrote: ↑Sat Dec 09, 2017 10:28 amYou're the owner of a Betfair/Betdaq software whereas Smarkets intend to build their own API and rival these 2 exchanges. Hence why they don't need BA (and the other API developers) and would rather traders promote it who have no financial interest with other betting exchanges.
I remember a thread a few years ago about smarkets refusing to pay out after a market maker made a mistake or was that matchbooks?
It's them and years later they're still at itLinusP wrote: ↑Sat Dec 09, 2017 4:44 pmI think you are misunderstanding what an API is, it's created for developers to build on top of.Naffman wrote: ↑Sat Dec 09, 2017 10:28 amYou're the owner of a Betfair/Betdaq software whereas Smarkets intend to build their own API and rival these 2 exchanges. Hence why they don't need BA (and the other API developers) and would rather traders promote it who have no financial interest with other betting exchanges.
I remember a thread a few years ago about smarkets refusing to pay out after a market maker made a mistake or was that matchbooks?
I've heard the ABE (Asian Betting Exchange) used through Citibet makes Betfair look seriously small in comparison. Don't know much about it but will update if can get in.xitian wrote: ↑Sat Dec 09, 2017 12:24 pmPeter, have you ever thought about creating software for trading Asian bookmakers/exchanges. I know there are agents who offer APIs in the UK (or in fact you could see if it's possible to set yourself up as an agent and skip one layer of middlemen). I hear there is massive liquidity, they welcome winners, plus you get paid in rebates on turnover (think if you had a rebate on all the volume being pushed through BetAngel!). The only sticking point is perhaps it's a bit of a grey market. I'm sure most professionals or people aiming to become professionals would accept a bit of financial risk though. Trickier question might be whether you'd need a UK gambling license to operate as an agent passing through volume to Asia. Asian markets are something I'm going to investigate more once I have more time.
I thought this was run by the triads.
New accounts are only opened by referrals, of locals .. at least it was.
Maybe its changed. I used it 4 yrs ago .. there were some opportunities ..
New accounts are only opened by referrals, of locals .. at least it was.
Maybe its changed. I used it 4 yrs ago .. there were some opportunities ..
By that I mean earlier this year I had one voided not sure if they've change policy since.Trading96 wrote: ↑Sat Dec 09, 2017 6:29 pmIt's them and years later they're still at itLinusP wrote: ↑Sat Dec 09, 2017 4:44 pmI think you are misunderstanding what an API is, it's created for developers to build on top of.Naffman wrote: ↑Sat Dec 09, 2017 10:28 amYou're the owner of a Betfair/Betdaq software whereas Smarkets intend to build their own API and rival these 2 exchanges. Hence why they don't need BA (and the other API developers) and would rather traders promote it who have no financial interest with other betting exchanges.
I remember a thread a few years ago about smarkets refusing to pay out after a market maker made a mistake or was that matchbooks?
Founder/CEO Jason of Smarkets here. It's been years since I posted in this board but I've kept an eye on it. With Euler's permission, I would be happy to answer questions (in a new thread?) to go over Smarkets, our plans, etc.
I would like to say, however, we have never banned winners nor will we ever. We've have many six figure winners. I'm happy to open up the conversation if it's ok with BetAngel.
I would like to say, however, we have never banned winners nor will we ever. We've have many six figure winners. I'm happy to open up the conversation if it's ok with BetAngel.
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- Joined: Sun Jan 31, 2010 8:06 pm
Looking on the forum there are posts going back as far as 2010 where we were talking about the smarkets API and it still appears to be an invite only option for their market makers, who I assume are more than happy to keep it a closed shop.
viewtopic.php?f=2&t=2832&hilit=smarkets ... =10#p17563
viewtopic.php?f=2&t=4281&p=30750#p30855
viewtopic.php?f=2&t=2832&hilit=smarkets ... =10#p17563
viewtopic.php?f=2&t=4281&p=30750#p30855
Hi Jason,
Nice to see you on the forum again. It's really nice to see you engaging with potential customers.
A few questions I thought of:
1. Do Smarkets trade their own markets or have plans to? By that I mean have internal or external trading teams or automated systems (such as cross-matching) that have preferential trading terms (be it latency, commission structure, or anything else)?
2. Do Smarkets see their 2% commission structure as sustainable in the long term? In other words, is it currently being used as a tool for growing market share but likely to be raised later if Smarkets get bigger? Or is it a sustainable fee which allows Smarkets to profit sufficiently in the long term?
3. Do Smarkets ever plan to penalise winners with higher fees like Betfair's Premium Charge? Please would you expand on your answer giving your opinion on such charges.
4. Do Smarkets have internal policies preventing employees from viewing customer trading data/history unless where specifically required by the customer?
5. Are Smarkets investing in the technology of the exchange, and what are the next big releases/innovations to expect? Will the streaming API eventually be made available to everyone? (I see streaming as a competitive advantage, so it would effectively be a 'Yes' to question 1 if it's not made available publicly).
Thanks for your time!
Nice to see you on the forum again. It's really nice to see you engaging with potential customers.
A few questions I thought of:
1. Do Smarkets trade their own markets or have plans to? By that I mean have internal or external trading teams or automated systems (such as cross-matching) that have preferential trading terms (be it latency, commission structure, or anything else)?
2. Do Smarkets see their 2% commission structure as sustainable in the long term? In other words, is it currently being used as a tool for growing market share but likely to be raised later if Smarkets get bigger? Or is it a sustainable fee which allows Smarkets to profit sufficiently in the long term?
3. Do Smarkets ever plan to penalise winners with higher fees like Betfair's Premium Charge? Please would you expand on your answer giving your opinion on such charges.
4. Do Smarkets have internal policies preventing employees from viewing customer trading data/history unless where specifically required by the customer?
5. Are Smarkets investing in the technology of the exchange, and what are the next big releases/innovations to expect? Will the streaming API eventually be made available to everyone? (I see streaming as a competitive advantage, so it would effectively be a 'Yes' to question 1 if it's not made available publicly).
Thanks for your time!
- northbound
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