Have your say on the future of BETDAQ

[Betdaq]

Hello Forum,

We are writing to you to invite you to engage with us as we begin to plan the transformation of the BETDAQ exchange after the completion of our acquisition by Ladbrokes.
Ladbrokes and BETDAQ recognise the importance of the API, trading tool and trading strategy user community in developing a sustainable betting exchange ecosystem that generates liquidity and fast moving markets for all users.
At present we are working hard behind the scenes to add additional events and markets to the exchange. We are also working hard to generate liquidity in all markets and events where possible. At this point we are particularly interested in speaking with liquidity generators, professional and high volume exchange players who feel that they can contribute positively to growing exchange liquidity on a profitable basis.
If you would like to speak with us please direct your first response to [email protected] and we send you a few questions to assess what category of user you fall into. We will then look to speak and meet with players and engage in conversations that will lead to mutually beneficial exchange growth.
We will have a presence at the ICE conference in London next week. If you would like to come and speak with us at ICE on Thursday February 7th please drop an email to the address above and we will arrange for one of our team to meet with you.
Finally, we are keen to spread the word to API users of other betting exchanges and we would be happy for you to pass this message to anyone who might fall into that category.

Kind regards,
The BETDAQ Team

[Mr Undercover]

Blimey, that was a bit out of the blue. Has anyone directed them to the various posts discussing the short comings of the Betdaq API, the primary differences such as the lack of 'amount of money traded' and so on... I presume you have Euler?

It's a little concerning that if we identify ourselves as a professional trader and in good faith provide constructive feedback then at a later date you are tagging yourself as a target for premium charge, or can we expect an open and honest policy statement on that front....hmmm?

From my perspecitve this seems a very straight forward case of providing trading software provider with like for facilities so users can easily switch between the two exchanges.

[PeterLe]

Very Welcome though. I mean, how many times have you seen a Betfair representative post on here?

I havent used the Betdaq version of Betangel lately, but it would be great to see it have the same functionality as that of the Betfair version.
From memory, this was discussed on the betangel forum before and I recall the primary reason the Betdaq version wasn't as advanced was because it costs money to develop and with betangel being a small company they couldn't justify the expenditure.
If Betdaq could assist Betangel in some way (financially or otherwise) and provide the traders with comparable tools; I think that would help speed the transition from betfair to betdaq for most
Regards
Peter

[jimrobo]

can only be construed as a positive IMHO.

I am quite looking forward to putting some more liquidity through betdaq and seeing the exchange hopefully grow! Imagine an exchange terminal in every ladbrokes shop and the liquidity potential mixed in with us lot throwing our weight about! Now that must be a scary prospect if you are a betfair executive!

[freddy]

If they can stay away from P.C charges or equivalent and don't start banning winning customers, then i for one will be very happy to use them .

[_PP_]

I havent used the Betdaq version of Betangel lately, but it would be great to see it have the same functionality as that of the Betfair version.

Greetings,

I can give some insight regarding the betdaq API behavior. From my experience on trading in-play soccer matches:

- Directly matched bets have a 8-10 second countdown (I think the API lags a little and I'm not sure if some games have this or the other delay).

- Pending bets doesn't have a countdown, unless someone has given, in less than 8-10 seconds, an order to match a worst price than the one you're offering. If that's the case, your pending bet will have the usual countdown, and you'll see the price before you getting matched first.

Cheers

[superfrank]

Imagine an exchange terminal in every ladbrokes shop and the liquidity potential mixed in with us lot throwing our weight about! Now that must be a scary prospect if you are a betfair executive!

i can't see that happening, wouldn't it be too much of a conflict with a 120% book on the TVs?!, 'be great if it did though.

it all depends on BETDAQ's new strategy. if they wanna operate a true p2p exchange (no xm for profit, no pc, no playing their own markets) and invest in the technology to bring it up to scratch, then count me in!

imho that's the only way they'll topple BF from top spot. if they go down BF's road (short-term revenue maximisation), and think they can grab market share with better marketing and reduced commission for a bit, they're kidding themselves.

[jimrobo]

I can't imagine they would buy the 2nd biggest betting exchange and not want to use their brand and high street presence to leverage it.

Ultimately though they are a bookmaker so I wouldn't bank on them running it as a pure exchange. Time will tell but competition in any form is better thing than the current monopoly.

[freddy]

That's what i carn't really get my head around, they won't want to lose their sportsbook customers to the exchange because it is less profitable for them.

so will be interesting to see what they come up with and whether it's branded and promoted as/by Ladbrokes or as a separate entity entirely that they just use to manage their own sportsbook positions.

[superfrank]

Ultimately though they are a bookmaker so I wouldn't bank on them running it as a pure exchange. Time will tell but competition in any form is better thing than the current monopoly.

but my point is that they won't be any competition to BF if they just try to be BF2.

it's a strange situation having competing exchanges - it doesn't really happen in the financial world, e.g. US index futures on CME, German on Eurex, UK on Liffe. the only thing that stops those monopolies being abused is proper regulation (sadly absent in the sports betting world).

just imagine if the CME, Eurex or Liffe were allowed to operate on their own exchanges or levy a tax on profitable traders?!

[jimrobo]

you can't compare sport exchanges to financial exchanges. Its like comparing blackpool to vegas!

[gutuami]

I expect better response times, more calls & less restrictions. A better commission scheme like: 2% up to your first 10k profit then 3% till 50k an so on. Now the way commission is calculated on bf is very confusing for most of people: commission +implied commission, betfair points, transaction charge, premium charge, discount rate, betfair holidays.

Also odds increments are a bit awkward should be alike bf.

Very clear conditions about bet settlements. Cases like api hang-ups, not turning inplay, non runners etc.

Betdaq video stream free for one market ahead. When markets are 5min apart sometimes I have to make a scratch trade to watch the stream.

Also the best software for sports markets betangel should have the arsenal of features like the bf version. No restriction for learning mode.

Ladbrokes clients will have the ability to place lay bets that will go straight to betdaq improving liquidity.

Smarkets have now a "very good reputation" do not repeat their mistake.

At the moment 60% premium charge is quite a big charge. 100pound will turn into 40, but on betdaq you need only 42 to get 40 at 5% commission. That message should be made clear to all new clients that come into the world of betting exchanges.

[superfrank]

you can't compare sport exchanges to financial exchanges. Its like comparing blackpool to vegas!

more like Southport

[mugsgame]

Make a statement that you will never tax winners and that winners ARE very welcome. That would be the clincher that would give traders the confidence to move over.

I want reliability
I want to be treated fairly when things go wrong
I don't want you to treat me with contempt
I like Betfair SP
I do not want my account restricted when I win

If you can replicate how the Betfair exchange worked 7 years ago you will have a winner. If you copy what they have now you will fail.

[LeTiss]

If you can replicate how the Betfair exchange worked 7 years ago you will have a winner. If you copy what they have now you will fail.

Brilliant response mugsgame, that is it in a nutshell