Smarkets public API

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ShaunWhite
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Old news to some maybe, but I see Smarkets are going to launch a public API in the next 6 months, should be an interesting development (excuse the pun). 2% commission is interesting too.

They only offer a basic level of Fund Protection http://www.gamblingcommission.gov.uk/fo ... funds.aspx but that shouldn't bother most people and perhaps they'll improve it if they want to attract traders, as they say they do.
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Niko
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I hope they maintain their 2% rate but I suspect that wont happen!! Will upset the matched betting crowd!
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northbound
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Great news.

However, they need to increase liquidity massively if they want to become THE exchange.
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Euler
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I get the impression it's mainly seeded, so net winners will be a problem for them. They did have a public API sometime ago, so it's not new. They are just exposing it again.
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LeTiss
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Euler wrote:
Sat Dec 09, 2017 8:56 am
I get the impression it's mainly seeded, so net winners will be a problem for them. They did have a public API sometime ago, so it's not new. They are just exposing it again.
True, but they are proactive in trying to shake up the exchange industry, Peter - I think that should be applauded
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Naffman
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LeTiss wrote:
Sat Dec 09, 2017 9:08 am
Euler wrote:
Sat Dec 09, 2017 8:56 am
I get the impression it's mainly seeded, so net winners will be a problem for them. They did have a public API sometime ago, so it's not new. They are just exposing it again.
True, but they are proactive in trying to shake up the exchange industry, Peter - I think that should be applauded
Completely agree LeTiss. Maybe its because Smarkets are developing their own API and don't need Peters help for it :? :lol:

Just had a look at their site and they make Betdaq look so poor its unreal :lol: Seen BF have changed their layout of their markets too to almost look just as bad!

They have some decent liquidity but I've heard they've restricted people in the past so will have to see how it plays out.
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northbound
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Naffman wrote:
Sat Dec 09, 2017 9:20 am
They have some decent liquidity but I've heard they've restricted people in the past so will have to see how it plays out.
This is my main concern as well.

In my opinion, if Smarkets want to become THE exchange and having traders moving in hordes from Betfair, their markets need great liquidity.

This means 1-2 years of Smarkets providing liquidity themselves, even if it means losing plenty of money to net winners. They must view these losses as the price to pay to become THE exchange.

Also, they must advertise aggressively and publicly promising never to introduce premium charges.

If they do that, by year 3 most probably their markets will sustain themselves with money from real traders and the company will start recouping losses and slowly make profits.

If they’re not prepared to take this long term approach and instead take the usual “bean counting” route, the bulk of traders will stay at Betfair.
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Euler
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LeTiss wrote:
Sat Dec 09, 2017 9:08 am
True, but they are proactive in trying to shake up the exchange industry, Peter - I think that should be applauded
In what way? They haven't spoken to me on a personal or commercial basis. I see they have approached others, who are clearly talking it up to get affiliate commission.
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LeTiss
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Euler wrote:
Sat Dec 09, 2017 10:13 am
LeTiss wrote:
Sat Dec 09, 2017 9:08 am
True, but they are proactive in trying to shake up the exchange industry, Peter - I think that should be applauded
In what way? They haven't spoken to me on a personal or commercial basis. I see they have approached others, who are clearly talking it up to get affiliate commission.
I was under the impression they had approached you once, but you dismissed them as wide boys?!
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Naffman
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You'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.
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Naffman
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LeTiss wrote:
Sat Dec 09, 2017 10:25 am
Euler wrote:
Sat Dec 09, 2017 10:13 am
LeTiss wrote:
Sat Dec 09, 2017 9:08 am
True, but they are proactive in trying to shake up the exchange industry, Peter - I think that should be applauded
In what way? They haven't spoken to me on a personal or commercial basis. I see they have approached others, who are clearly talking it up to get affiliate commission.
I was under the impression they had approached you once, but you dismissed them as wide boys?!
Maybe thinking of Matchbook - not sure if right though :)
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Euler
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The only promotions I see are affiliated so it's got little to do with them having an impact, it's just another revenue source for affiliates who do actually have financial interest in other exchanges, it's just a promotion piece. If smarkets wanted really liquidity they should speak to people like me and other Bet Angel customers that actually trade in volume and could add to the liquidity in the markets.

A public API would increase liquidity, I don't think it's got anything particular to do with producing their own software? I think you have got confused on what the API is, its just an interface to their exchange mechanism.

But anyhow, they haven't spoken to me for ages so I've no idea what they actually plan or if liquidity has improved there.
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Naffman
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What I'm saying is Smarkets are thinking you earn a lot of money selling BA to customers who want to use only Betfair so why would you promote Smarkets thats all I'm saying.
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Euler
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Y, I understand. I just don't think they are really trying if they don't speak to people who could be hugely beneficial to their markets. I don't really know what the back story is there.
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LeTiss
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Euler wrote:
Sat Dec 09, 2017 11:21 am
Y, I understand. I just don't think they are really trying if they don't speak to people who could be hugely beneficial to their markets. I don't really know what the back story is there.
Why don't you ask them?

They can either say "come in for a chat" or "piss off"
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