Betfair New £1 minimum stakes

[ShaunWhite]

I wish they would go down to 0.01p for my martingale strategies…

and the commission rounding would mean you'd keep the whole penny! You should market that idea as MartingalePro.

[Archery1969]

I wish they would go down to 0.01p for my martingale strategies…

and the commission rounding would mean you'd keep the whole penny! You should market that idea as MartingalePro.

[Derek27]

I notice the Prizeout has changed or at least the presentation of it.

I never understood the point of entering an amount before you look at the cards. 17% at Swarovski is a rip-off, it would have to be 80% to persuade me to purchase a gift. And what the hell is Kigso Games? They must be worthless to offer 46% off!

[greenmark]

It may well attract more punters, but will they be more like bingo players than hard-nosed traders (I'm neither)? If so, that can't be good for the exchange concept can it?

Ulimately there's no guarentees any business with continue indefinately, and all publically owned businesses operate for the benefit of the shareholders rather that some grand vision about changing the landscape anyway. We can't change anything and we get what we're given so IMO it's a matter of making hay while the sun shines. And if there are going to be more players than I'll happily take the bingo crowd on all day long, I'm not especially interested in attracting any 'hard-nosed' operators.

I once read (and posted up here) an academic paper that suggested that exchanges were sustainable because the bookies could shunt winners over to them and let them fight it out. Dropping your minimum stake is a massive signal and I'm certain the regulators all-seeing eye will already have noticed. But as you say "make hay". Personally, its just a game. For too many it's a potential but futile route to an income. That is always the elephant in the room with gambling.
With bookies you are fodder unless you are a high-roller. If you're a minnow that wins, you're toast.
On the exchange it really is a dog eat dog scenario. If you don't get that, then you shouldn't get involved. Hence my concern about halving the minimum stake. Dragging more people in that haven't a clue what they are getting involved in.

[ShaunWhite]

Dropping your minimum stake is a massive signal and I'm certain the regulators all-seeing eye will already have noticed.

Dragging more people in that haven't a clue what they are getting involved in.

I see your point, like when cornershops would sell schoolies 1 fag instead of a full packet. But that would be a tough conclusion from the authorities, on the one hand they want to limit what people spend on gambling but then being critical when a firm tries to make it more affordable. But of course the Exchequer is quite fond of the tax from the UK leisure gambling sector too so they'll be reluctant to drive the business overseas. Verdict : Not a clue.

It might not all matter too much though, we've got the PM interviewed by the police, 'royalty' in court, the Red Army marching across Europe, it all feels like the start of the Glorious Revolution commrade greenmark.

[goat68]

I was just merging them as you posted that

thx

Just a couple of other considerations/implications.....

Although the min SP back stake is now £1 the min BSP liability remains at £10.
No changes to the fact that stakes between £1.26 and £1.59 cannot be currently placed at price 1.01.

yeah, that's annoying then

[ShaunWhite]

To see if this is having any discernible effect I was having a look at the matches I've had under £2 since the new minimum came into force. I think it's clear that some people at least are making use of the new lower limit because there's 3-4 times the number of matches at exactly £1 vs other smaller amounts that have no particular significance. That spike still only represents about 1/700 of my matches so although being used it's not being over used.

No importance really, I just thought it was quite interesting and worth sharing.

....what's more surprising is the number of matches <5p !

Screenshot_8.jpg

[LinusP]

To see if this is having any discernible effect I was having a look at the matches I've had under £2 since the new minimum came into force. I think it's clear that some people at least are making use of the new lower limit because there's 3-4 times the number of matches at exactly £1 vs other smaller amounts that have no particular significance. That spike still only represents about 1/700 of my matches so although being used it's not being over used.

No importance really, I just thought it was quite interesting and worth sharing.

....what's more surprising is the number of matches <5p !

Screenshot_8.jpg

Very interesting, what’s your profit like on those £1 matches?

[ShaunWhite]

Very interesting, what’s your profit like on those £1 matches?

Good question, I'll check later. Might not be enough of them to be conclusive but might be indicative.

I'm more surprised by all the penny ones that are too frequent to be down to just picking up parts of bigger matches, or at least shouldn't be as disproportionate to the other similarly small amounts.

[foxwood]

Are they Derek's infamous penny shavers

I get the impression a lot of people don't stake with whole numbers to separate strategies based on stake. Someone staking with whole numbers is going to leave those pence behind so I'm not sure it means much - might also be rounding debris from cross matching.

Possibly foreign currency and conversion rates as well ?

I think most testing will now be done at £1 plus pence when a few together.

[ShaunWhite]

I get the impression a lot of people don't stake with whole numbers to separate strategies based on stake. .

I don't understand how staking £2.01, £2.02 etc helps people to seperate strategies. If you create 2 offers and then have a 50p partial match which offer(s) does it apply to and how would you independently cancel them? Surely there aren't enough people doing that to even register.

[wearthefoxhat]

I get the impression a lot of people don't stake with whole numbers to separate strategies based on stake. .

I don't understand how staking £2.01, £2.02 etc helps people to seperate strategies. If you create 2 offers and then have a 50p partial match which offer(s) does it apply to and how would you independently cancel them? Surely there aren't enough people doing that to even register.

Those that want to dutch more runners (back), would be able to set prices and take BSP as insurance, using < £2.00 units.

[ShaunWhite]

I get the impression a lot of people don't stake with whole numbers to separate strategies based on stake. .

I don't understand how staking £2.01, £2.02 etc helps people to seperate strategies. If you create 2 offers and then have a 50p partial match which offer(s) does it apply to and how would you independently cancel them? Surely there aren't enough people doing that to even register.

Those that want to dutch more runners (back), would be able to set prices and take BSP as insurance, using < £2.00 units.

I thought you could go sub £2 anyway if you're dutching, but that's only an assumption. Tbh there isn't actually a minimum stake otherwise you couldn't "cash out" on Betfair, but the guidelines about how many you can place are vague and its not encouraged. There is a min for takesp bets though (£1 back but still £10 lay liability) so any insurance bet will need to exceed that even if you can back for less.

[wearthefoxhat]

I don't understand how staking £2.01, £2.02 etc helps people to seperate strategies. If you create 2 offers and then have a 50p partial match which offer(s) does it apply to and how would you independently cancel them? Surely there aren't enough people doing that to even register.

Those that want to dutch more runners (back), would be able to set prices and take BSP as insurance, using < £2.00 units.

I thought you could go sub £2 anyway if you're dutching, but that's only an assumption. Tbh there isn't actually a minimum stake otherwise you couldn't "cash out" on Betfair, but the guidelines about how many you can place are vague and its not encouraged. There is a min for takesp bets though (£1 back but still £10 lay liability) so any insurance bet will need to exceed that even if you can back for less.

Previous to the change, I'm sure if you wanted to take BSP as insurance, the £2 min applied, so anything less than that was cancelled. As you say, the £1 min bet now applies.

[mgreenough]

Has the £1 change been updated in the BetAngel software or does it still do the black magic trickery of setting sub £2 bets? Just wondering as was thinking of trialling a few things out in-running and the difference between the two mechanisms can mean getting matched or not.