BetConnect - New Social Betting Platform

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phrenetic
Posts: 45
Joined: Sun Oct 16, 2016 5:11 pm

Just came across this in the Racing Post...

https://www.racingpost.com/news/latest/ ... ons/346426
spreadbetting
Posts: 3140
Joined: Sun Jan 31, 2010 8:06 pm

Looks quite interesting to be able to lay at bookies odds with 15 minutes to decide if to accept it :shock:
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northbound
Posts: 737
Joined: Mon Mar 20, 2017 11:22 pm

Thanks for sharing, phrenetic. Here are my thoughts.

1 - As spreadbetting said, it could be interesting if you're able to lay at bookie prices. Then back on Betfair for a guaranteed profit.

2 - Not sure how BetConnect can attract average punters when there are clearly tons of people who struggle to understand simple betting exchange back/lay concepts. People who are unaware you can lay a team on Betfair and instead bet on Double Chance with a bookie.

3 - Copy trading and copy betting are moronic concepts. If one finds profitable angles, he might be willing to share it with a small group of like minded people/friends. Surely not with the entire world.

But I know, I know: the average punter is not very savvy so he can't understand the latter point. Which means that perhaps this "copy betting" feature is THE key to attract them.
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ruthlessimon
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Joined: Wed Mar 23, 2016 3:54 pm

northbound wrote:
Wed Sep 19, 2018 3:43 pm
3 - Copy trading and copy betting are moronic concepts. If one finds profitable angles, he might be willing to share it with a small group of like minded people/friends. Surely not with the entire world.
Yah the problem is the fill.

But it's a self-fulfilling prophecy for the guy dishing out the tips/trades!
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wearthefoxhat
Posts: 3205
Joined: Sun Feb 18, 2018 9:55 am

The name's quite close to the scammers, Bitconnect, (of the crypto world)...hope they've thought that one through...
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Derek27
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Joined: Wed Aug 30, 2017 11:44 am
Location: UK

Interesting, but surely the punters that 'follow' will eventually have their own accounts restricted if successful?
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SeaHorseRacing
Posts: 2893
Joined: Fri May 20, 2016 7:06 pm

Can’t see it taken off tbh
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Euler
Posts: 24700
Joined: Wed Nov 10, 2010 1:39 pm
Location: Bet Angel HQ

Several have come and gone already, none seemed to catch on. It's not new.
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Euler
Posts: 24700
Joined: Wed Nov 10, 2010 1:39 pm
Location: Bet Angel HQ

Old fashioned sales pitch, "the professional gamblers use our platform because they have been restricted by the bookmakers".

No, the professional gamblers, use betting exchanges.
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Derek27
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Location: UK

I've just joined. :D
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Derek27
Posts: 23471
Joined: Wed Aug 30, 2017 11:44 am
Location: UK

Euler wrote:
Wed Sep 19, 2018 5:16 pm
Old fashioned sales pitch, "the professional gamblers use our platform because they have been restricted by the bookmakers".

No, the professional gamblers, use betting exchanges.
They only need to be professional by name. ;)
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Derek27
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Location: UK

Just received a patronising email from Racing Post telling me I'll soon be betting like a pro. :lol:
Adriaan
Posts: 9
Joined: Thu Jun 07, 2018 5:09 pm

So, this basically is an exchange with a difficult explaination.
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Derek27
Posts: 23471
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Location: UK

As far as I can tell, it's an exchange where you have to declare whether you're a pro (backer) or punter (layer)!!

If you're a layer you have to trade with either a bookie or the exchange.
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jimibt
Posts: 3641
Joined: Mon Nov 30, 2015 6:42 pm
Location: Narnia

Derek27 wrote:
Wed Sep 19, 2018 9:26 pm
As far as I can tell, it's an exchange where you have to declare whether you're a pro (backer) or punter (layer)!!

If you're a layer you have to trade with either a bookie or the exchange.
not looked yet, but the main question is 'how do they determine the *after*' (i.e. if you declare yourself one or 'tother) and if they find *issue* what is the redress!!

the open environment is to be welcomed but only if transparency prevails...
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