https://bet.me
A new UK betting exchange is in the works, apparently. Anybody knows more?
Bet.me
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- Posts: 3140
- Joined: Sun Jan 31, 2010 8:06 pm
All the newer 'exchanges' seem to want to keep fast bet placement for their in house MM's these days. Pretty much makes it pointless for me as I'm so used to being able to quickly amend and place bets rather than use a clunky and slow web interface. You'd have thought any serious competitor into the exchange market would do all they could to compete with the likes of BetfairAt this point in time our API is not being released to the public. If you have a proposal for using it, please feel free to contact us via email.
I revisited the site and see it has been updated significantly since I last looked. Looking at companies house though it's a tiny affair at the moment. Only £50k on the balance sheet on the last set of accounts. Probably would have to raise many millions if not tens of millions, to even get a small foothold in the market and that's assuming you don't come under competitive pressure. License costs and other items would probably each through millions very quickly.
I wouldn't really consider launching an exchange without significant backing or a significant partner, preferably both.
I wouldn't really consider launching an exchange without significant backing or a significant partner, preferably both.
Imagine if Amazon got into exchanges with their customer service focus:
""We have a relentless focus on customer service. That's even more important online than in the physical world. If you make a customer unhappy in the physical world, they will tell five people. Online they can tell 5000."
don't suppose you have Jeff's phone number Peter?
I recently visited SF again to do the rounds, I think that's where the real competition will emerge from.
One thing that the tech giants are doing really well is branching and forking regularly. Too many large companies reach critical mass then squeeze margins. Really you should stop the outflow of cash to shareholders and invest in blue sky projects. Most will fail but some will pay off.
Most are too afraid to do so because they fear they may cannibalise their existing business, but eventually competitors do that anyhow. So you may as well get a head start and control that market. Amazon is doing that very effectively.
One thing that the tech giants are doing really well is branching and forking regularly. Too many large companies reach critical mass then squeeze margins. Really you should stop the outflow of cash to shareholders and invest in blue sky projects. Most will fail but some will pay off.
Most are too afraid to do so because they fear they may cannibalise their existing business, but eventually competitors do that anyhow. So you may as well get a head start and control that market. Amazon is doing that very effectively.
Hopefully, since the Dereg of US gambling laws the next few years will see some Valley companies turn their attention and focus to this area.
It wouldn't surprise me if Betfair's biggest threat over the next few years comes from a startup from over there
It wouldn't surprise me if Betfair's biggest threat over the next few years comes from a startup from over there
talking of Amazon:
https://www.bbc.co.uk/news/blogs-the-papers-46325448
The Sun leads with a story on Chelsea FC footballer N'Golo Kante, who it says has signed a million pound deal which will see him pay more tax than Amazon and Starbucks combined. The 27-year-old chose not to use a scheme to be paid via offshore firms, meaning he will pay £6.7m in tax.
I actually asked them a question Yesterday on their Twitter Page.
Got a response back this Afternoon to question regarding whether they will have a ''Take SP''
function on their site. I mentioned that Smarkets don't have this function - for some reason.
But both Betfair and Betdaq do.
https://twitter.com/betme/status/1066322207675244545
bet.me response: "Hi Russell [my name !]. Thank you for your feedback! We are working on our "SP" offering and we hope to have it available in future releases. We look forward to seeing you on the exchange."
At least they responded back quickly. And with an answer - not one I want. It should already have SP at launch.
But a test of any business strength is how they respond, and how quick they respond to potential customers questions and concerns.
So they have passed that.
Commission is 2% - So I guess they are pitching their business in competition with Smarkets I would initially thought.
Being a browser only based Exchange as well.
Got a response back this Afternoon to question regarding whether they will have a ''Take SP''
function on their site. I mentioned that Smarkets don't have this function - for some reason.
But both Betfair and Betdaq do.
https://twitter.com/betme/status/1066322207675244545
bet.me response: "Hi Russell [my name !]. Thank you for your feedback! We are working on our "SP" offering and we hope to have it available in future releases. We look forward to seeing you on the exchange."
At least they responded back quickly. And with an answer - not one I want. It should already have SP at launch.
But a test of any business strength is how they respond, and how quick they respond to potential customers questions and concerns.
So they have passed that.
Commission is 2% - So I guess they are pitching their business in competition with Smarkets I would initially thought.
Being a browser only based Exchange as well.