BetConnect - New Social Betting Platform

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SeaHorseRacing
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Joined: Fri May 20, 2016 7:06 pm

I was very skeptical about this concept.

But after opening a pro account I can see the benefits.

Bookies will change drastically because of this in the next 18 months...

As a pro, you can divide your bet.. so if you want £500 on a horse you could offer 100 £5 bets. Rather then the entire stake..to a single person. The reason why people are getting matched for small amounts is because of this. They don’t really want to show there cards and it’s easier getting matched.

Punters can lay at bookie prices... this will also allo match betting competely risk free. No use or need of looking for arbs on the exchange to match bet.
As a Punter you can lay the bet and place the exact same bet at the bookies with the same odds and benefit from the free bets...

Won’t be long until the bookies go... hang on a minute we’re have to start taking bets or stop offering freebies bets.

Eventually there will be individual bookies taking these bets... you can check a punters roi and decide if you want to lay there bet.

Don’t get me wrong the betfair concept is better... however I am 100% certain this will have a huge impact on turnover and liquidity on betfair as time goes on.

Professional will never need to use an exchange again.
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jimibt
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SeaHorseRacing wrote:
Tue Nov 06, 2018 1:22 pm
I was very skeptical about this concept.

.....

Professional will never need to use an exchange again.
SHR - from what i saw on the video, the downside is that you end up being a layer only on the plaform and to make independent back bets, you still need to use the high street bookies.

I may have missed a trick here but am looking to see how you could arb on this platform if there's still a dependency on placing your own back bets outside the betconnect platform.

I would be interested to delve deeper tho as there definitely will be some extremely clever ways to short circuit the process, until the in house algos spot them!
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SeaHorseRacing
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I’ve opened a punter account..

I will never need to use another bookie ever again...

No searching for the best odds, no worrying about account closer... and no premium charge... yet.

If 9 out of 10 bookies are going 7/4 on a price and one is going 15/8. I can ask for the 15/8 without any other hassle...
People will also stop using the exchanges for match betting. I can take someone’s bet as a punter account and open a new bookie account and copy the bet... and get a free bet.

This is going to have a very bad effect to the exchanges long term..

Imo... whether this becomes the new platform what it will do is revolutionise the betting industry.. bookie will have to change.. whether that means bookmarking again I’m not sure.

The majority of all new accounts being opened with bookmakers will be people copying a professionals bet... thus meaning the majority of people taking value bets just to get a free bet competely risk free.

This will change the betting industry.
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jimibt
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SeaHorseRacing wrote:
Tue Nov 06, 2018 1:35 pm
I’ve opened a punter account..

I will never need to use another bookie ever again...

No searching for the best odds, no worrying about account closer... and no premium charge... yet.
again, i'm just not getting it (from your profile perspective as a backer that has issues with high st bookies). if you want to copy or follow, then both require that you back at a high street bookies (via a viz either use an open or new account) in order to do so. the only other option is to Lay against the Pro player, using the betconnect platform.

what am i missing here??
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SeaHorseRacing
Posts: 2893
Joined: Fri May 20, 2016 7:06 pm

jimibt wrote:
Tue Nov 06, 2018 1:55 pm
SeaHorseRacing wrote:
Tue Nov 06, 2018 1:35 pm
I’ve opened a punter account..

I will never need to use another bookie ever again...

No searching for the best odds, no worrying about account closer... and no premium charge... yet.
again, i'm just not getting it (from your profile perspective as a backer that has issues with high st bookies). if you want to copy or follow, then both require that you back at a high street bookies (via a viz either use an open or new account) in order to do so. the only other option is to Lay against the Pro player.

what am i missing here??
Let’s say I have a pro account and you have a punter account.

I want £20 to win at 2/1. As a pro I can’t get a bookie account.

You think well.. William hill are offering bet £20 and get a free £10 bet.. we’ll William hill are offering 2/1 too.

Remember only pros pay commision not punters...

So you can go and open a William hill account use the £20 your getting from the pro and place that bet... obviously you must bet £40 liability with bet connect..

Once you place that you have not lost or gained anything however from opening a William hill account your getting a free £10 bet.

However, you can follow professional gamblers. So if you see a gambler who’s showing decent profit you can laybhis bets and just back them yoursel but add some money in for yourself...

Or as a punter you can just lay his bet... on the exchange at 2/1 shot maybe 3.4 or something plus commision. You can flat our lay the bet..

Each day you could do your own tissue and then wait and see if you can lay that bet.. remember punters account pay no commision at all..

It’s win win for everybody... the only people who will be out of pocket will be the industry bookies...

Eventually they will have to make a decision... this will force the minimum bet rule and bring back the art of bookmaking again.

They won’t increase there margins becuase people will leave and use the exchange.
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jimibt
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SeaHorseRacing wrote:
Tue Nov 06, 2018 2:14 pm
jimibt wrote:
Tue Nov 06, 2018 1:55 pm
SeaHorseRacing wrote:
Tue Nov 06, 2018 1:35 pm
I’ve opened a punter account..

I will never need to use another bookie ever again...

No searching for the best odds, no worrying about account closer... and no premium charge... yet.
again, i'm just not getting it (from your profile perspective as a backer that has issues with high st bookies). if you want to copy or follow, then both require that you back at a high street bookies (via a viz either use an open or new account) in order to do so. the only other option is to Lay against the Pro player.

what am i missing here??
So you can go and open a William hill account use the £20 your getting from the pro and place that bet... obviously you must bet £40 liability with bet connect..
this is where i'm not comfortable that this has scale as surely any such account (high st bookies) will be closed down once you start showing profits of any sort (that's if you can open one in the 1st place).

sorry if i'm being as thick as... but by having to open bookies accounts (and more likely having to open further accounts once limited), i don't see the lure.

if i am missing the trick, please type slowly :D
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Dallas
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jimibt wrote:
Tue Nov 06, 2018 1:55 pm
SeaHorseRacing wrote:
Tue Nov 06, 2018 1:35 pm
I’ve opened a punter account..

I will never need to use another bookie ever again...

No searching for the best odds, no worrying about account closer... and no premium charge... yet.
again, i'm just not getting it (from your profile perspective as a backer that has issues with high st bookies). if you want to copy or follow, then both require that you back at a high street bookies in order to do so. the only other option is to Lay against the Pro player.

what am i missing here??
From what I can see (and I've only scanned it quickly) is its geared towards Pro gamblers who want to get large sums on at early prices, they cant do it on an exchange nor will any bookie take there bet

So they post it on here and share it with numerous users who will then lay it off at bookies for them (effectively the pro better is giving a load of minions a few quid each and telling them to run around all the local bookies for him without drawing attention to him)

Most will do that esp if the pro is good and has a track record and may even be tempted to add a bit of there own money to it when they get to the bookies
A few may not bother with the bookies and decide to just pay the Pro out of there own pocket if the bet comes in (esp if the so-called 'pro' has a naff record but these could just as easily get their bets on with a bookie directly anyway so would have no use for this)

If I understand it correctly I think it has a very limited appeal for punters as just another sort of verified 'tipster' service they can follow but on the condition, they put their bets on for them.

For the pro's it' only serves as a way to get those large early bets on

Other than that, I can't see any other appeal from what I've seen
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SeaHorseRacing
Posts: 2893
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Yes I understand... you have to keep trying to get on... and eventually your doors will close...but what will happen is bookies will have enough of it and will have to take action.

What will bookies do... they only offer free bets to new customers... what happens when thousands are abusing these freebies?

They will have to stop offering free bets... but now they don’t take professionals money and they are now not taking new customers...

I understand as a punter this may not be a revolution if your a losing player... but there are opportunity’s to exploit it.
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SeaHorseRacing
Posts: 2893
Joined: Fri May 20, 2016 7:06 pm

Bookies have been offering new customer offers for years so they appear to be profiting from it.. as a pro on bet connect they will never run out of new people to lay for them...

Remember... you DONT have to be a pro to have a pro account..

Why would anyone bother opening 20 bookmakers account to enable you to get the best odds available when you can request it all through one app....

If you like betting, just open a pro account if you are a losing bettor you will get laid 100% any way because people will want to lay you.
Last edited by SeaHorseRacing on Tue Nov 06, 2018 2:30 pm, edited 1 time in total.
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jimibt
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Location: Narnia

SeaHorseRacing wrote:
Tue Nov 06, 2018 2:22 pm
Yes I understand... you have to keep trying to get on... and eventually your doors will close...but what will happen is bookies will have enough of it and will have to take action.

What will bookies do... they only offer free bets to new customers... what happens when thousands are abusing these freebies?

They will have to stop offering free bets... but now they don’t take professionals money and they are now not taking new customers...

I understand as a punter this may not be a revolution if your a losing player... but there are opportunity’s to exploit it.
don't get me wrong, if i could quickly summon a way to exploit this WITHOUT going down the high st bookie route, i'd be onto it straight away... the wheels are turning on that one but as for the core offering, don't quite *feel* it
spreadbetting
Posts: 3140
Joined: Sun Jan 31, 2010 8:06 pm

I think seahorse is being a bit optimistic if he thinks this will change the industry, I see it as being a very niche market. The 'pros' are bound to be beating SP so it's not going to take long for the punters accounts to be closed or limited if they're punting with bookies and taking prices. We all know how quick bookies are to limit you regardless of your stakes if you beat SP. I'd considered it simply for small arbs and to hopefully be laying the useless 'pros' , of which I imagine will be the majority, to relatively decent amounts but if it's all split into 5's and 20's I'm much better off simply x-market arbing on Betfair.
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Derek27
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Location: UK

SeaHorseRacing wrote:
Tue Nov 06, 2018 11:31 am
I was wrong about bet connect!!

This is going to be bigger then betfair!!!
Strange, I just packed it up because I was getting sick of £2.50 each way bets that I was unable to trade for a profit!
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Derek27
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Location: UK

spreadbetting wrote:
Tue Nov 06, 2018 12:31 pm
SeaHorseRacing wrote:
Tue Nov 06, 2018 11:31 am
I was wrong about bet connect!!

This is going to be bigger then betfair!!!
Why's that Seahorse? I've an invite but never bothered registering as Derek said he was only matching bets for small amounts.
I should point out that I only deposited £200 and set a maximum liability as such. I don't know if setting a larger liability will actually result in bigger bet requests.
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Derek27
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Location: UK

SeaHorseRacing wrote:
Tue Nov 06, 2018 1:35 pm
I’ve opened a punter account..

I will never need to use another bookie ever again...

No searching for the best odds, no worrying about account closer... and no premium charge... yet.

If 9 out of 10 bookies are going 7/4 on a price and one is going 15/8. I can ask for the 15/8 without any other hassle...
People will also stop using the exchanges for match betting. I can take someone’s bet as a punter account and open a new bookie account and copy the bet... and get a free bet.

This is going to have a very bad effect to the exchanges long term..

Imo... whether this becomes the new platform what it will do is revolutionise the betting industry.. bookie will have to change.. whether that means bookmarking again I’m not sure.

The majority of all new accounts being opened with bookmakers will be people copying a professionals bet... thus meaning the majority of people taking value bets just to get a free bet competely risk free.

This will change the betting industry.
I'd be fascinated to know how much of your 'pro' bets would get matched. The Oddschecker site is often out of date. You sometimes get a bookie offering 13 when all the others are offering 6, and you know without looking that it's wrong. So a lot of bet requests will be rejected because the price is no longer available.
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Derek27
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Location: UK

I've got to know the 'pros' habits - unfortunately you can't choose which pros you get bet requests from and if you unlock one but don't accept it it will affect your punter rating and position in queue for further bets. I reckon some of the pros are arbers who simply go for prices you can trade on the exchange, rather than aiming for a profit.
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