Betfair £3.6m
Smarkets £7.4m
Even taking into account how Smarkets calculate liquidity I think they have more matched
Betdaq 318k
Smarkets public API
Not the guy but they void bets after they're settled.
https://www.reddit.com/r/IAmA/comments/ ... ollars_on/
Calls himself a bookie, all you need to know.
Hey guys, few comments:
1) We don't allow self-matching
2) Our volume is indeed backer stake plus layer liability.
3) We calculate "BF" style volume and we might publish it, so y'all can compare, but we haven't decided yet. Comparing the SM vol to BF vol methods, like for like, the SM is much higher.
4) We never artificially inflate the trading volume. A lot of it comes from matched bettors based in the UK fwiw.
5) We do operate a sports betting syndicate, like a lot of companies. BD, Matchbook, etc, operate syndicates. We disclose it in our annual report and to our customers. Happy to answer any questions. We never front run and we treat the customer (very) fairly.
6) Please don't try to s*** an exchange. It might be bad for your health!
7) For a sense of scale, we trade about £400m per month (Smarkets method) and have about 80k customers per year (mostly UK)
1) We don't allow self-matching
2) Our volume is indeed backer stake plus layer liability.
3) We calculate "BF" style volume and we might publish it, so y'all can compare, but we haven't decided yet. Comparing the SM vol to BF vol methods, like for like, the SM is much higher.
4) We never artificially inflate the trading volume. A lot of it comes from matched bettors based in the UK fwiw.
5) We do operate a sports betting syndicate, like a lot of companies. BD, Matchbook, etc, operate syndicates. We disclose it in our annual report and to our customers. Happy to answer any questions. We never front run and we treat the customer (very) fairly.
6) Please don't try to s*** an exchange. It might be bad for your health!
7) For a sense of scale, we trade about £400m per month (Smarkets method) and have about 80k customers per year (mostly UK)
I think I am always going to stay away from an exchange which runs a syndicate, its impossible for you to be independent when its all under the same company. We all know Betfair cross match and also seed some markets early on but I don’t personally think there is any issues with this.vide0star wrote: ↑Fri Jun 01, 2018 8:56 pmHey guys, few comments:
1) We don't allow self-matching
2) Our volume is indeed backer stake plus layer liability.
3) We calculate "BF" style volume and we might publish it, so y'all can compare, but we haven't decided yet. Comparing the SM vol to BF vol methods, like for like, the SM is much higher.
4) We never artificially inflate the trading volume. A lot of it comes from matched bettors based in the UK fwiw.
5) We do operate a sports betting syndicate, like a lot of companies. BD, Matchbook, etc, operate syndicates. We disclose it in our annual report and to our customers. Happy to answer any questions. We never front run and we treat the customer (very) fairly.
6) Please don't try to s*** an exchange. It might be bad for your health!
7) For a sense of scale, we trade about £400m per month (Smarkets method) and have about 80k customers per year (mostly UK)
Can anyone see the Syndicate being mentioned?
https://files.smarkets.com/pdf/smarkets ... t-2016.pdf
We treat customers fairly by never changing or cancelling orders after a customer order comes in. If we have a price in the market, we of course, honour that price and execution. We also now have 4 or 5 other institutions trading and we're adding about one major market maker a month.The Group, through its 100% owned subsidiary, Hanson Applied Sciences
Limited, also provides liquidity on the exchange by entering into algorithmic
trades on the market to enhance the user experience and for profit making
purposes. The positions so arising are closely risk managed. As we grow, our
aim is to offer better prices and further enhance the liquidity of existing and
new markets.
That statement is a direct contradiction of what was reported in the first post of the below betfair forum thread from about 2 years ago.vide0star wrote: ↑Sat Jun 02, 2018 5:11 pmWe treat customers fairly by never changing or cancelling orders after a customer order comes in. If we have a price in the market, we of course, honour that price and execution. We also now have 4 or 5 other institutions trading and we're adding about one major market maker a month.The Group, through its 100% owned subsidiary, Hanson Applied Sciences
Limited, also provides liquidity on the exchange by entering into algorithmic
trades on the market to enhance the user experience and for profit making
purposes. The positions so arising are closely risk managed. As we grow, our
aim is to offer better prices and further enhance the liquidity of existing and
new markets.
http://community.betfair.com/horse_raci ... 76159&pg=1
The customer concerned actually posted an email, purporting to be from smarkets, stating that "we (smarkets)will be voiding the lays made at a price of 1.01 on the horse Thatsallimsaying as these were clearly the result of a significant user error"
Do you deny the above? I believe it either went to court, or was on the verge of so doing. Your statement would also appear to contradict smarkets' own policy, which was co-incidentally hurriedly amended a very short time after the above betfair forum thread appeared.
https://help.smarkets.com/hc/en-gb/arti ... ets-Policy
An example of treating customers fairly? Input error is as input error does.
By the way, what was the self-censored word in 6) above? I really can't work it out. And whatever it is, it looks like a threat.
Our erroneous trade policy follows financial markets. eg https://www.nasdaqtrader.com/Trader.asp ... yErroneous
I'm not here to promote Smarkets. I'm on this forum to be a resource if anybody has specific questions about my business. I love betting exchanges, I think the industry can (and should) do a lot better. Please please know I am in this industry to improve it; ripping customers off is the last thing I want to do. We provide liquidity because the product demands it. We make money from it because I have to run a profitable business. We have the some of the best odds of all exchanges (bar special deals). Smarkets is the most open kimono betting company that I'm aware of. Come to an open house, send me an email, read our annual report. We're very forthcoming with information.
I'm not here to promote Smarkets. I'm on this forum to be a resource if anybody has specific questions about my business. I love betting exchanges, I think the industry can (and should) do a lot better. Please please know I am in this industry to improve it; ripping customers off is the last thing I want to do. We provide liquidity because the product demands it. We make money from it because I have to run a profitable business. We have the some of the best odds of all exchanges (bar special deals). Smarkets is the most open kimono betting company that I'm aware of. Come to an open house, send me an email, read our annual report. We're very forthcoming with information.
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spreadbetting
- Posts: 3140
- Joined: Sun Jan 31, 2010 8:06 pm
Very forthcoming? Looks like you completely skirted giving a direct answer to weemac's questions to me.
Our erroneous bets policy lays out what we honour and when trades get busted, similar to Nasdaq. It's not cool for me to comment on individual cases for privacy reasons. The OP is very welcome to email me if they are still aggrieved.
Is there interest for me to host a conference call? I'd be happy if you guys want to jump on a chat and you can hammer me with questions.
Is there interest for me to host a conference call? I'd be happy if you guys want to jump on a chat and you can hammer me with questions.
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ShaunWhite
- Posts: 9731
- Joined: Sat Sep 03, 2016 3:42 am
That must be the most ridiculous, obnoxious piece of business-speak bullshit I've ever heard.
It's not clever, it's not describing something new, and a prime example of why middle management desperation to sound clever is ridiculed.
'open kimono' FFS get a grip man and stop being such a pseud.
I don't see that as a selling point for an exchange. It should be a given. If it's not a given, then you're just a bad bookmaker.vide0star wrote: ↑Sat Jun 02, 2018 5:11 pmWe treat customers fairly by never changing or cancelling orders after a customer order comes in. If we have a price in the market, we of course, honour that price and execution. We also now have 4 or 5 other institutions trading and we're adding about one major market maker a month.
I expect there's not going to be a massive point in interacting with this crowd until the API is opened up. Most people on this forum will not consider themselves to be recreational gamblers, and therefore will either want to use specialised trading software or work with the API directly. Otherwise there's simply no chance of an even footing against your proprietary trading.
And in relation to the above point - if your recreational betting volume isn't growing then the exchange isn't really growing (no matter how many market makers or traders you add). Alternatively, maybe you're taking us for the mugs you need to join
