Betfair set float price

Long, short, Bitcoin, forex - Plenty of alternate market disuccsion.
Post Reply
andyfuller
Posts: 4619
Joined: Wed Mar 25, 2009 12:23 pm

Can't be many of the original team left to step down now!

Was that the main news? Anything else of interest?

Hope you took a doggy bag home with some cheese on a stick :)
User avatar
Euler
Posts: 24700
Joined: Wed Nov 10, 2010 1:39 pm
Location: Bet Angel HQ

They did give out a goodie bag with a gift in it!

I wasn't allowed to ask questions during the AGM, but did get to speak to nearly all the board afterwards.

Not much of note during the AGM but there was some elaboration on the exchange "ecosystem". It was a fairly standard AGM based on the many I have witnessed over the years.

One point of note was the premium charge activist leafleting shareholders at the exit.
andyfuller
Posts: 4619
Joined: Wed Mar 25, 2009 12:23 pm

Euler wrote:Not much of note during the AGM but there was some elaboration on the exchange "ecosystem".
Cheers for the info, any chance you can elaborate on the elaboration? Or are you saving that for the blog update?
andyfuller
Posts: 4619
Joined: Wed Mar 25, 2009 12:23 pm

Euler wrote:One point of note was the premium charge activist leafleting shareholders at the exit.
Said activist is on here now posting on here:

viewtopic.php?f=2&t=2835&start=210

See last post on page 22 of the thread
Innertube
Posts: 215
Joined: Mon Mar 14, 2011 9:18 am

Betfair pantomime sidesteps the critics

http://www.telegraph.co.uk/finance/comm ... itics.html
User avatar
Euler
Posts: 24700
Joined: Wed Nov 10, 2010 1:39 pm
Location: Bet Angel HQ

I was refused entry when I turned up but persistance and some forward planning meant I was able to get in.
Innertube
Posts: 215
Joined: Mon Mar 14, 2011 9:18 am

Bounced from Betfair's annual meeting

http://www.guardian.co.uk/business/2011 ... sfeed=true
andyfuller
Posts: 4619
Joined: Wed Mar 25, 2009 12:23 pm

Share price took a good hit today, down 60p to 660.50p down 8.33% on the day
User avatar
Ethanol
Posts: 148
Joined: Thu Jun 09, 2011 9:09 am

Anyone got any idea why the shares rocketed to 780p today? Anything interesting or unusual happen at Betfair HQ?

http://www.google.co.uk/finance?q=LON:BET
andyfuller
Posts: 4619
Joined: Wed Mar 25, 2009 12:23 pm

Betfair, the beleaguered betting company, yesterday made a further move to rehabilitate its battered image in the City with the appointment of Gerald Corbett, the serial non-executive director and City veteran, as deputy chairman to replace the position left vacant by Ed Wray

http://www.independent.co.uk/news/busin ... 73779.html
andyfuller
Posts: 4619
Joined: Wed Mar 25, 2009 12:23 pm

FY12 H1 Results out on Wednesday - will be interesting to see the yield of the new PC and a full year of horse racing cross matching.
User avatar
Euler
Posts: 24700
Joined: Wed Nov 10, 2010 1:39 pm
Location: Bet Angel HQ

Given the very aggressive nature of the way they have applied new charges you would expect a stellar set of figures. If that doesn't happen you have to ask yourself what is really going on in the business.

You sort of think that the figures should be good as that have put their hands in the accounts of many to boost the bottom line. But that's bound to have had a depressing effect on the general numbers and also it's likely that the charges have yield much less, due to the 'laffer' effect.

Should be interesting anyhow.
andyfuller
Posts: 4619
Joined: Wed Mar 25, 2009 12:23 pm

I would think the money they have 'earned' from Cross Matching on horse racing specifically will be massive, though isn't that run by a separate Betfair Company? So will those figures be published?

It will also be very interesting to hear what the plans are for Australia, the decision is due anytime now though it could take a few months yet. I was just reading Racing New South Wales have on ice roughly £110 million that they have collected to date in race fees, not all from Betfair but I bet they have paid a hell of a lot.

Surely if they lose then it would be game over for Betfair Australia?

http://www.racingandsports.com.au/racin ... ll_Unknown
User avatar
Euler
Posts: 24700
Joined: Wed Nov 10, 2010 1:39 pm
Location: Bet Angel HQ

I guess the xm will depend on how efficiently they have done it. There is a lot of slack that falls into Betfair's pockets on small fields but not on big fields. That said the racing markets are massive compared to others so any number on something huge will be big.

Its perfectly within their power to not skim anything off the XM so it's a bif naff that they continue to do so. I note they position it as 'improving' the markets but it's had the opposite affect when we measured it. It's a neat way of articifically keeping the overround smaller and therefore using that to qoute competitive prices in the market, before all the billions or other fees and charges of course!

A lot of 'Australian' market turnover doesn't actually go through the austrailian exchange I found out. I don't know how any ruling would affect that but I suspect Betfair route the traffic across the two exchange independantly for strategic reasons. I know wallets are seperate but when I saw the Aussie guys I was astonished to find out all the work I did in Aussie markets never ended up in their pot and they were not rewarded on it.
andyfuller
Posts: 4619
Joined: Wed Mar 25, 2009 12:23 pm

Euler wrote: A lot of 'Australian' market turnover doesn't actually go through the austrailian exchange I found out.
Can you expand on that Peter? I didn't know about that.
Post Reply

Return to “Trading Financial markets”