BetConnect - New Social Betting Platform

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Derek27
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Laid Hermana Santa E.W. at 7.5, backed it at 9.0 to be safe, but it's now hit 16.0!

Definitely some free money to be had. :D
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Derek27
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Location: UK

It's a real struggle to make anything worthwhile trading lays on BetConnect, but it's working wonders for my premium charge.

It makes a change feeling pleased about losing money on Betfair. :D
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Derek27
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I laid this one at 15/8 several hours before the off (before the big spike) while it was trading 3.15 on Betfair. On top of the premium charge benefits I think this platform may be worth considering.
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Derek27
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I'm paying extra premium charge this week thanks to by betconnect trading, which wipes out what little profit I made. :oops:

But I'm sure my PC will benefit longer term. :D
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PDC
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Derek27 wrote:
Mon Oct 22, 2018 1:16 am
But I'm sure my PC will benefit longer term. :D
Can you expand on why?
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Derek27
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Very few gamblers, even successful ones, pay premium charge. In order to pay premium charge you have to lose approximately less £75 for every £100 that you win (depending on commission rate, £5 commission for every £25 profit amounts to 20% commission). Traders can easily manage that but bettors would have to make over 30% on turnover. It can be done but it's quite a tall order to maintain that for a period of time.
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PDC wrote:
Mon Oct 22, 2018 3:03 pm
Derek27 wrote:
Mon Oct 22, 2018 1:16 am
But I'm sure my PC will benefit longer term. :D
Can you expand on why?
Eventually these wins/losses will balance out with a small edge either ending up in the bookie account or Betfair account depending on how good these pro's are. It's unlikely the edge will be large and the arbs you're taking should be more than enough to cover it long term even if it does end up on the Betfair account.

It's always hard to generate much commission as a trader so if your PC is 20% and you're operating at 5% generated comms every £1 you generate in commission from the arbs is a £1 less you pay in PC and an extra pound in your pocket. Plus when you get into the higher rates the commission you've paid along the way determines if you ppay 60% or 40% so it can have a big effect further on down the line and well worth generating no loss commission if possible.
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PDC
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Thanks for those replies.
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SeaHorseRacing
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I was wrong about bet connect!!

This is going to be bigger then betfair!!!
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SeaHorseRacing wrote:
Tue Nov 06, 2018 11:31 am
I was wrong about bet connect!!

This is going to be bigger then betfair!!!
Why's that Seahorse? I've an invite but never bothered registering as Derek said he was only matching bets for small amounts.
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SeaHorseRacing
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I was very skeptical about this concept.

But after opening a pro account I can see the benefits.

Bookies will change drastically because of this in the next 18 months...

As a pro, you can divide your bet.. so if you want £500 on a horse you could offer 100 £5 bets. Rather then the entire stake..to a single person. The reason why people are getting matched for small amounts is because of this. They don’t really want to show there cards and it’s easier getting matched.

Punters can lay at bookie prices... this will also allo match betting competely risk free. No use or need of looking for arbs on the exchange to match bet.
As a Punter you can lay the bet and place the exact same bet at the bookies with the same odds and benefit from the free bets...

Won’t be long until the bookies go... hang on a minute we’re have to start taking bets or stop offering freebies bets.

Eventually there will be individual bookies taking these bets... you can check a punters roi and decide if you want to lay there bet.

Don’t get me wrong the betfair concept is better... however I am 100% certain this will have a huge impact on turnover and liquidity on betfair as time goes on.

Professional will never need to use an exchange again.
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jimibt
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SeaHorseRacing wrote:
Tue Nov 06, 2018 1:22 pm
I was very skeptical about this concept.

.....

Professional will never need to use an exchange again.
SHR - from what i saw on the video, the downside is that you end up being a layer only on the plaform and to make independent back bets, you still need to use the high street bookies.

I may have missed a trick here but am looking to see how you could arb on this platform if there's still a dependency on placing your own back bets outside the betconnect platform.

I would be interested to delve deeper tho as there definitely will be some extremely clever ways to short circuit the process, until the in house algos spot them!
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SeaHorseRacing
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I’ve opened a punter account..

I will never need to use another bookie ever again...

No searching for the best odds, no worrying about account closer... and no premium charge... yet.

If 9 out of 10 bookies are going 7/4 on a price and one is going 15/8. I can ask for the 15/8 without any other hassle...
People will also stop using the exchanges for match betting. I can take someone’s bet as a punter account and open a new bookie account and copy the bet... and get a free bet.

This is going to have a very bad effect to the exchanges long term..

Imo... whether this becomes the new platform what it will do is revolutionise the betting industry.. bookie will have to change.. whether that means bookmarking again I’m not sure.

The majority of all new accounts being opened with bookmakers will be people copying a professionals bet... thus meaning the majority of people taking value bets just to get a free bet competely risk free.

This will change the betting industry.
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jimibt
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SeaHorseRacing wrote:
Tue Nov 06, 2018 1:35 pm
I’ve opened a punter account..

I will never need to use another bookie ever again...

No searching for the best odds, no worrying about account closer... and no premium charge... yet.
again, i'm just not getting it (from your profile perspective as a backer that has issues with high st bookies). if you want to copy or follow, then both require that you back at a high street bookies (via a viz either use an open or new account) in order to do so. the only other option is to Lay against the Pro player, using the betconnect platform.

what am i missing here??
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SeaHorseRacing
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jimibt wrote:
Tue Nov 06, 2018 1:55 pm
SeaHorseRacing wrote:
Tue Nov 06, 2018 1:35 pm
I’ve opened a punter account..

I will never need to use another bookie ever again...

No searching for the best odds, no worrying about account closer... and no premium charge... yet.
again, i'm just not getting it (from your profile perspective as a backer that has issues with high st bookies). if you want to copy or follow, then both require that you back at a high street bookies (via a viz either use an open or new account) in order to do so. the only other option is to Lay against the Pro player.

what am i missing here??
Let’s say I have a pro account and you have a punter account.

I want £20 to win at 2/1. As a pro I can’t get a bookie account.

You think well.. William hill are offering bet £20 and get a free £10 bet.. we’ll William hill are offering 2/1 too.

Remember only pros pay commision not punters...

So you can go and open a William hill account use the £20 your getting from the pro and place that bet... obviously you must bet £40 liability with bet connect..

Once you place that you have not lost or gained anything however from opening a William hill account your getting a free £10 bet.

However, you can follow professional gamblers. So if you see a gambler who’s showing decent profit you can laybhis bets and just back them yoursel but add some money in for yourself...

Or as a punter you can just lay his bet... on the exchange at 2/1 shot maybe 3.4 or something plus commision. You can flat our lay the bet..

Each day you could do your own tissue and then wait and see if you can lay that bet.. remember punters account pay no commision at all..

It’s win win for everybody... the only people who will be out of pocket will be the industry bookies...

Eventually they will have to make a decision... this will force the minimum bet rule and bring back the art of bookmaking again.

They won’t increase there margins becuase people will leave and use the exchange.
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