Smarkets public API

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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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Location: Bet Angel HQ

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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Euler
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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.
xitian
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Joined: Fri Jul 08, 2011 2:08 pm

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.
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ShaunWhite
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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.
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.
LinusP
Posts: 1871
Joined: Mon Jul 02, 2012 10:45 pm

Naffman wrote:
Sat Dec 09, 2017 10:28 am
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.
I think you are misunderstanding what an API is, it's created for developers to build on top of.

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?
Trading96
Posts: 470
Joined: Thu Mar 16, 2017 4:47 pm

LinusP wrote:
Sat Dec 09, 2017 4:44 pm
Naffman wrote:
Sat Dec 09, 2017 10:28 am
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.
I think you are misunderstanding what an API is, it's created for developers to build on top of.

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 it
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Naffman
Posts: 5626
Joined: Sun Aug 11, 2013 5:46 am

xitian wrote:
Sat Dec 09, 2017 12:24 pm
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.
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.
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megarain
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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 ..
Emmson
Posts: 3363
Joined: Mon Feb 29, 2016 6:47 pm

Don't have a Smarkets account and no plans to open one, read some off-putting stuff on message boards including this one. A much more exciting development is a soon to come judgement by US Supreme Court on gambling.
Trading96
Posts: 470
Joined: Thu Mar 16, 2017 4:47 pm

Trading96 wrote:
Sat Dec 09, 2017 6:29 pm
LinusP wrote:
Sat Dec 09, 2017 4:44 pm
Naffman wrote:
Sat Dec 09, 2017 10:28 am
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.
I think you are misunderstanding what an API is, it's created for developers to build on top of.

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 it
By that I mean earlier this year I had one voided not sure if they've change policy since.
vide0star
Posts: 50
Joined: Thu Jul 07, 2011 8:19 pm
Location: London

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.
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