Milestone

A place to discuss anything.
sniffer66
Posts: 1666
Joined: Thu May 02, 2019 8:37 am

Euler wrote:
Wed Nov 17, 2021 12:51 pm
goat68 wrote:
Wed Nov 17, 2021 7:50 am
As i've said before, it's interesting how a select few can be taking it all, it's an interesting phenomenon...
Think of the market like a triangle. Those on top of others make money from those underneath them. There are loads of people at the bottom who are too lazy or uninformed to make decent decisions. Your first goal is to elevate yourself above that.
Which makes BF sound like a Pyramid selling/Ponzi scheme :)

( I do know it isn't ;) )
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ShaunWhite
Posts: 9731
Joined: Sat Sep 03, 2016 3:42 am

The pyramid is a statistical inevitablity when peoples' ability varies and as in life the people at the bottom aren't inherently useless they're just not as capable as the rest. The pyramid is relative not absolute.


tbh I find the big numbers an inspiration rather than a deterrent, and besides who'd want to get into an industry where nobody was making money!! It's always a tough day for people though when they realise this is an esablished industry rather than fresh fields full of fools. But if you want easy then don't pick buying and selling, the world's 2nd oldest profession.
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Euler
Posts: 24701
Joined: Wed Nov 10, 2010 1:39 pm
Location: Bet Angel HQ

The thing that frustrates me with Betfair and commission is that they don't spend enough of it bringing in new business or supporting it's advocates.

It was always positioned with me that my commission would be used to bring in new customers to the ecosystem, that is what I pay so much. But it's obvious that has not happened. But hey, the sportsbook has done well hasn't it?

But also, it's common knowledge that all businesses have soft funding to keep customers happy and cogs well oiled. In the city its common for up to a 1/4 of commission to get returned to the client in some manner. If Betfair were in the same mode, they would owe me a Lambo as least.

Yes I know traders are quite efficient at taking money out of the ecosystem, but they do play a really key role in providing liquidity and some of us perform deeper roles.

This is why we need competition. People who fight for our business.
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Euler
Posts: 24701
Joined: Wed Nov 10, 2010 1:39 pm
Location: Bet Angel HQ

sniffer66 wrote:
Wed Nov 17, 2021 1:02 pm
Which makes BF sound like a Pyramid selling/Ponzi scheme :)

( I do know it isn't ;) )
The interesting thing about this 'pyramid' is that the bottom is very wide. I've seen the data and it's quite interesting.
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Derek27
Posts: 23476
Joined: Wed Aug 30, 2017 11:44 am
Location: UK

ShaunWhite wrote:
Wed Nov 17, 2021 7:59 pm
But if you want easy then don't pick buying and selling, the world's 2nd oldest profession.
I'm in the world's 2nd oldest profession because my only alternative would be the world's oldest profession. ;)
Trader Pat
Posts: 4327
Joined: Tue Oct 25, 2016 12:50 pm

Derek27 wrote:
Wed Nov 17, 2021 10:46 pm
ShaunWhite wrote:
Wed Nov 17, 2021 7:59 pm
But if you want easy then don't pick buying and selling, the world's 2nd oldest profession.
I'm in the world's 2nd oldest profession because my only alternative would be the world's oldest profession. ;)
:lol:
andy28
Posts: 343
Joined: Sat Jan 30, 2021 12:06 am
Location: NZ

I still consider myself a relative Newbie, personally I am not bothered about what others P&L is all I focus on is learning and improving my trading 1 step at a time. It's a long road and there are no short cuts and plenty of hurdles on the way. At the end of the day it will be my actions that determine where that road leads me.
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Derek27
Posts: 23476
Joined: Wed Aug 30, 2017 11:44 am
Location: UK

andy28 wrote:
Thu Nov 18, 2021 12:44 am
I still consider myself a relative Newbie, personally I am not bothered about what others P&L is all I focus on is learning and improving my trading 1 step at a time. It's a long road and there are no short cuts and plenty of hurdles on the way. At the end of the day it will be my actions that determine where that road leads me.
I think that's a very good attitude. Looking at traders that make ten times as much as you is just a distraction to achieving your best or even getting up to that level.
lotora
Posts: 629
Joined: Thu Dec 24, 2009 9:20 am
Location: Surin City, Thailand

Euler wrote:
Wed Nov 17, 2021 8:11 pm

This is why we need competition. People who fight for our business.
Hopefully BetDEX could become a future competitor...https://www.forbes.com/sites/timcasey/2 ... -exchange/
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ShaunWhite
Posts: 9731
Joined: Sat Sep 03, 2016 3:42 am

I think the 'Milestones' thread has gone a little off piste?

I know I've played a part in that but it seemed like a nice corner for anyone pleased with whatever stat they've racked up.
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ShaunWhite
Posts: 9731
Joined: Sat Sep 03, 2016 3:42 am

:D As it never does any harm to ask when the worst they can say is no,

me: "You'll see I've recently gone over 250,000 markets, surely that got to be worth some free Betfair merch :)"
......looooong wait ...
BF : "I've just given you an account credit"

I actually just wanted a mug but they sent me this. tada ! Only 0.02p per market admittedly but I'm easily pleased.
Screenshot_11.jpg
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Kai
Posts: 6092
Joined: Tue Jan 20, 2015 12:21 pm

Speaking of milestones I would also like to congratulate Derek27 for participating in over 250,000 forum threads which is quite the achievement with only 12,845 posts to his (user)name. The forum greatly appreciates the liquidity that he brings 👍 And if he could only cut down on the rants a bit that would be great.

Since Euler refuses to give him an honorary lifetime Bet Angel Basic Trader membership I guess he will have to settle for a custom made meme as his only reward 👍

Image
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Derek27
Posts: 23476
Joined: Wed Aug 30, 2017 11:44 am
Location: UK

Kai wrote:
Thu Nov 18, 2021 6:26 am
Speaking of milestones I would also like to congratulate Derek27 for participating in over 250,000 forum threads which is quite the achievement with only 12,845 posts to his (user)name. The forum greatly appreciates the liquidity that he brings 👍 And if he could only cut down on the rants a bit that would be great.

Since Euler refuses to give him an honorary lifetime Bet Angel Basic Trader membership I guess he will have to settle for a custom made meme as his only reward 👍
Much appreciated Kai, you must have sacrificed a market to produce that meme. I'm off to bed now. :D
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goat68
Posts: 2019
Joined: Tue Jun 30, 2020 3:53 pm
Location: Hampshire, UK

Euler wrote:
Wed Nov 17, 2021 8:13 pm
sniffer66 wrote:
Wed Nov 17, 2021 1:02 pm
Which makes BF sound like a Pyramid selling/Ponzi scheme :)

( I do know it isn't ;) )
The interesting thing about this 'pyramid' is that the bottom is very wide. I've seen the data and it's quite interesting.
Yes, that's what I was implying by the phenomenon, it's clearly not a normal straight line pyramid, but an extreme exponential one.
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jimibt
Posts: 3641
Joined: Mon Nov 30, 2015 6:42 pm
Location: Narnia

Kai wrote:
Thu Nov 18, 2021 6:26 am
Speaking of milestones I would also like to congratulate Derek27 for participating in over 250,000 forum threads which is quite the achievement with only 12,845 posts to his (user)name. The forum greatly appreciates the liquidity that he brings 👍 And if he could only cut down on the rants a bit that would be great.

Since Euler refuses to give him an honorary lifetime Bet Angel Basic Trader membership I guess he will have to settle for a custom made meme as his only reward 👍

Image
lol... actually looks exactly like how i'd be in that scenario (head down, slightly awkward with it all) :D
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