VAR

Football, Soccer - whatever you call it. It is the beautiful game.
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phrenetic
Posts: 45
Joined: Sun Oct 16, 2016 5:11 pm

Betfair have just published the following on how the Exchange is going to work with VAR:

https://betting.betfair.com/betfair-ann ... 118-6.html
Trading96
Posts: 470
Joined: Thu Mar 16, 2017 4:47 pm

Sounds like something Smarkets would do to protect "liquidity providers" sad.
weemac
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Joined: Mon Sep 16, 2013 8:16 pm

"If the referee decides to award the penalty, goal or red card, we will void bets matched from when the incident took place to the suspension time for the VAR review because these bets should've been cancelled when the initial incident occurred"

Bets are never cancelled on the awarding of a penalty; only on its being scored, so how can they say they should (would) have been cancelled if the penalty had been awarded?
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Euler
Posts: 24700
Joined: Wed Nov 10, 2010 1:39 pm
Location: Bet Angel HQ

That's remarkably convoluted, smells a bit really. Why can't the risk be held in the market?
Simonlofc
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Joined: Tue Sep 30, 2014 11:07 am

https://prnt.sc/hxjlfm
and yet this morning in Aus this happened , it was 0-2 when this went in. They settled the O2.5 then the goal was ruled out the o2.5 market never reopened it went 0-3 right at the end. as you can see some got a nice payout
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northbound
Posts: 737
Joined: Mon Mar 20, 2017 11:22 pm

I despise how organizations in modern times keep adding more rules and regulations, overcomplicating everything.

In my opinion, Betfair should simply open a football match market a few days before the match start and close it when the ref blows the final whistle. No suspensions, no delays.

Simplify, ffs.
spreadbetting
Posts: 3140
Joined: Sun Jan 31, 2010 8:06 pm

Take a look at the liquidity in the unmanaged markets next time one's up and you'll see why Betfair manage them to some degree. Not everyone wants to actively monitor their positions for the full 90 minutes against traders at the game 10 + seconds ahead of you.

Years ago Corals ventured into exchange betting with a site called play2match.com, they ran unmanaged markets on football and some big races, was the easiest money I've ever made, I was gutted when it closed after a few months.
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northbound
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spreadbetting wrote:
Tue Jan 09, 2018 12:01 am
Not everyone wants to actively monitor their positions for the full 90 minutes against traders at the game 10 + seconds ahead of you.
Ok let’s keep the delay, if we must. But there’s no need for suspensions.

The lack of suspensions doesn’t seem to affect liquidity in inplay tennis markets, does it?
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northbound
Posts: 737
Joined: Mon Mar 20, 2017 11:22 pm

In fact it would be nice if an established organisation like Betfair would do the following experiments on ALL football markets.

- One month of no delays, no suspensions
- One month of no suspensions

They could then see how these affect liquidity. If the impact is not big, they could move in either direction on a permanent basis, reducing their staff costs as no humans would be needed to actively manage inplay markets anymore.
spreadbetting
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Joined: Sun Jan 31, 2010 8:06 pm

northbound wrote:
Tue Jan 09, 2018 7:54 am
spreadbetting wrote:
Tue Jan 09, 2018 12:01 am
Not everyone wants to actively monitor their positions for the full 90 minutes against traders at the game 10 + seconds ahead of you.
Ok let’s keep the delay, if we must. But there’s no need for suspensions.

The lack of suspensions doesn’t seem to affect liquidity in inplay tennis markets, does it?
How many tennis points do you get in a game compared to goals? Betfair have run unmanaged markets in the past and they were ghost towns, admittedly they were lower league matches but the liquidity was a lot less than the managed markets.
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northbound
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spreadbetting wrote:
Tue Jan 09, 2018 12:48 pm
Betfair have run unmanaged markets in the past and they were ghost towns, admittedly they were lower league matches but the liquidity was a lot less than the managed markets.
I agree with you that going unmanaged will probably reduce liquidity at first. But traders would adapt over a period of time.

Anything that removes regulations and makes rules less complicated, it is good in my opinion.
spreadbetting
Posts: 3140
Joined: Sun Jan 31, 2010 8:06 pm

Exchanges aren't run for the benefit of traders though, punters want that protection that bets will be cancelled when reds/goals occur they don't want to have a bet at 1-0 and have to constantly hover their finger over the cancel button. The unmanaged football markets were just staring contests with no one willing to put bets up at reasonable odds because they knew it'd come down to a fastest finger first situation once a goal goes in. I'd be very surprised if Betfair ever stick up unmanaged football markets and even more surprised if they had the liquidity in them to trade.
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northbound
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spreadbetting wrote:
Tue Jan 09, 2018 1:33 pm
Exchanges aren't run for the benefit of traders though, punters want that protection that bets will be cancelled when reds/goals occur
Understandable. But still very frustrating that because of it, new and convoluted rules get added.
Mike123
Posts: 2
Joined: Sat Jan 13, 2018 5:59 pm

Most fair and integer would be to cancel all bets between the incident and the decision. The information regarding VAR is not distributed simultaneously to all spectators.

I suppose Betfair benefits from confusion in the markets since this results in extra turnover between bettors aware of the VAR investigation at that moment and bettors who are not aware of the VAR investigation at a certain moment.
Mike123
Posts: 2
Joined: Sat Jan 13, 2018 5:59 pm

Betfair mentions this by themselves in the article:

“This all means many customers can have bets unfairly matched.“

So why not cancel all bets if many customers can have unfairly matched bets?
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