I agree Frank - Betfair would be take a huge risk if they were to frontrun.
And I imagine there are guys who use software to monitor everything that goes on in the market, and would be able to work out pretty quickly if Betfair were front running their orders.
Jeff
Betfair's activities in the market
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JollyGreen
- Posts: 2046
- Joined: Sat Mar 21, 2009 10:06 am
I said before in another post and I will post it again here.
Betfair brought in XM way before they announced it IMHO. In fact I am sure they were ticked off for not announcing it before implementing it but I stand to be corrected on that point.
They realised very quickly that some very savvy people were hoovering up errors in the market. This was performed in such a way that generated commission was very low. There was also the problem of bots hammering the servers.
Attack 1. Introduce data charges to stop the bots etc. Fair enough, no problem with that. Result = Software was improved and it didn't sufficiently line Betfair's pockets.
Attack 2. Having failed with data charges they went for the premium charge. Obviously it wasn't enough to satisfy Betfair's needs. Result = Betfair had to think again.
Okay so Plan B...if you can't beat 'em join 'em!
Attack 3. XM via the back door to see if they could replicate the traders' methods and basically hoover up the slush in the market. As already mentioned they see the money entering the market, ergo, they see the error before anyone else and can hoover it up. Result = Hey boys we're onto a winner here now how do we make it hard for traders, errmmm, competition, ermmm, smart clients aka WINNERS?
Attack 4. Keep XM and apologise smugly for not announcing it was being used. Introduce even higher PC to dissuade the WINNERS from using Betfair.
Whilst all of this was brewing the site remained unstable, we suffered crashes, accounts were frozen without reason etc etc etc.
Basically Betfair are poacher and gamekeeper only they don't take the odd fish, they trawl the whole river with a drag net!
Rant over!
Betfair brought in XM way before they announced it IMHO. In fact I am sure they were ticked off for not announcing it before implementing it but I stand to be corrected on that point.
They realised very quickly that some very savvy people were hoovering up errors in the market. This was performed in such a way that generated commission was very low. There was also the problem of bots hammering the servers.
Attack 1. Introduce data charges to stop the bots etc. Fair enough, no problem with that. Result = Software was improved and it didn't sufficiently line Betfair's pockets.
Attack 2. Having failed with data charges they went for the premium charge. Obviously it wasn't enough to satisfy Betfair's needs. Result = Betfair had to think again.
Okay so Plan B...if you can't beat 'em join 'em!
Attack 3. XM via the back door to see if they could replicate the traders' methods and basically hoover up the slush in the market. As already mentioned they see the money entering the market, ergo, they see the error before anyone else and can hoover it up. Result = Hey boys we're onto a winner here now how do we make it hard for traders, errmmm, competition, ermmm, smart clients aka WINNERS?
Attack 4. Keep XM and apologise smugly for not announcing it was being used. Introduce even higher PC to dissuade the WINNERS from using Betfair.
Whilst all of this was brewing the site remained unstable, we suffered crashes, accounts were frozen without reason etc etc etc.
Basically Betfair are poacher and gamekeeper only they don't take the odd fish, they trawl the whole river with a drag net!
Rant over!
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steven1976
- Posts: 1744
- Joined: Tue Jan 19, 2010 6:28 am
The inplay suspensions and inplay delays would surely always give betfair an advantage if they were trading their market and were not affrected by having a delay
I've been on the inside.Ferru123 wrote:Hi Mpendle
That's quite a claim. How do you know that?
Jeffmpendle wrote: They don't have the skills at Betfair HQ to make these bets. The company barely has an employee who understands the betting markets.
Hi Mpendle
So did you used to work for Betfair?
When you say that 'The company barely has an employee who understands the betting markets', surely the guys in the call centre or in the back office functions understand the basics of how the exchanges works. Otherwise, they'd be unable to do their job.
Or do you mean that they lack a deeper insight into how exactly the technology works, what causes the markets to move, etc?
Jeff
So did you used to work for Betfair?
When you say that 'The company barely has an employee who understands the betting markets', surely the guys in the call centre or in the back office functions understand the basics of how the exchanges works. Otherwise, they'd be unable to do their job.
Or do you mean that they lack a deeper insight into how exactly the technology works, what causes the markets to move, etc?
Jeff
Very few people understand the industry and more importantly what the customer wants and needs. Employees in the operations departments know how to deal with queries, but little more. Very few place bets themselves and as such lack the understanding needed to relate to their customers.
It applies thoughout the company, upper management, marketing etc. Take a look at the advert that was banned for confusing advertising ("cut out the middle man"), to me the people behind that advert didnt understand the company.
It applies thoughout the company, upper management, marketing etc. Take a look at the advert that was banned for confusing advertising ("cut out the middle man"), to me the people behind that advert didnt understand the company.
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pdupre1961
- Posts: 410
- Joined: Fri Feb 18, 2011 8:01 pm
- Location: Morden, London
mpendle wrote:I can tell you that the opening post in this thread is not true. In fact it is a long way off the mark.
They don't have the skills at Betfair HQ to make these bets. The company barely has an employee who understands the betting markets.
So, who runs Betfair's in house bots.
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pdupre1961
- Posts: 410
- Joined: Fri Feb 18, 2011 8:01 pm
- Location: Morden, London
Why is there a difference in the amounts available at 4.6, 4.9 and 5.0
Whose is the money - Is it XM or Betfair.
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pdupre1961
- Posts: 410
- Joined: Fri Feb 18, 2011 8:01 pm
- Location: Morden, London
So, the answer is XM, not Betfair.
How does XM work...
How does XM work...
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giulio2010
- Posts: 962
- Joined: Sun Sep 12, 2010 9:11 am
Pdupre1961,
I will be on my way to go to watch this game live. I live in about couple hours...If you need any tip or infos regarding this game, I am happy to help if I can..
They are playing on a neutral ground..Whenjuventus play on neutral ground there are still signifcant supporters, when cagliari play on neutral ground, the supporters are onle few, sometimes non at all
The juventus is the likely winner but 1,44 is still too short...
I will be on my way to go to watch this game live. I live in about couple hours...If you need any tip or infos regarding this game, I am happy to help if I can..
They are playing on a neutral ground..Whenjuventus play on neutral ground there are still signifcant supporters, when cagliari play on neutral ground, the supporters are onle few, sometimes non at all
The juventus is the likely winner but 1,44 is still too short...
pdupre1961 wrote:Why is there a difference in the amounts available at 4.6, 4.9 and 5.0 Whose is the money - Is it XM or Betfair.