Honest Joe betting exchange

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Emmson
Posts: 3363
Joined: Mon Feb 29, 2016 6:47 pm

Dallas wrote:
Thu Jun 20, 2019 10:29 pm
Derek27 wrote:
Thu Jun 20, 2019 8:45 pm
Archangel wrote:
Thu Jun 20, 2019 8:21 pm


Build me a betting exchange for $500 , lol
Don't know why you're surprised. Enough people have posted on hear asking for a bot/strategy to generate £1K a month from £100. ;)
Those type of requests clog up my inbox more than anything else, the one I always remember practically word for word was when someone 'Told' me to give them a bot but made it crystal clear it had to make at least £100 per day and that I wasn't to waste their time sending one that made anything less.
I always wondered how much forum activity on here is done in the shadows. For me zero, I turned that feature off.
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Derek27
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Dallas wrote:
Thu Jun 20, 2019 10:29 pm
Those type of requests clog up my inbox more than anything else, the one I always remember practically word for word was when someone 'Told' me to give them a bot but made it crystal clear it had to make at least £100 per day and that I wasn't to waste their time sending one that made anything less.
:lol: :lol: I thought the forum requests were fanciful enough.
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Archangel
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Derek27 wrote:
Thu Jun 20, 2019 8:45 pm
Archangel wrote:
Thu Jun 20, 2019 8:21 pm
johnsheppard wrote:
Thu Jun 20, 2019 1:26 am

Don't know why you're surprised. Enough people have posted on hear asking for a bot/strategy to generate £1K a month from £100. ;)
Not surprised. Just find the whole idea amusing :)
chris2785
Posts: 41
Joined: Sun Dec 11, 2011 1:32 am

What does everyone think of Betconnect, you can take on the Pro and lay his / her bet only, or back it yourself, in the hope the Pro knows their stuff.

Interesting concept

Chris
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Dallas
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chris2785 wrote:
Fri Jun 21, 2019 1:32 pm
What does everyone think of Betconnect, you can take on the Pro and lay his / her bet only, or back it yourself, in the hope the Pro knows their stuff.

Interesting concept

Chris
viewtopic.php?f=39&t=17348
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Derek27
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Location: UK

Just £13 matched in the Coronation but you could have had £50 on Jubioso at 7.2 while it traded 6.0 on Betfair!!

Trading it on Betfair would more than make up for the deposit charge and the layer would contribute a whopping 50 pence commission to Honest Joe. ;)
timbillington
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Joined: Tue Dec 15, 2015 3:46 pm

This is spot on in my opinion.

An app/website interface (with the exchange as is underneath providing the prices) for people who just want to bet and get better prices would do wonders.

So, have an interface where there is no back/lay presented. Just all the events (like on 365) with all the best prices that the exchange currently has (with the commission already factored in to avoid that confusion to someone when they get a different price).

No chance at all that Betfair will ever do this of course, but I believe it would really make the site accessible to a lot more people which can only be a good thing.


Kai wrote:
Sat Jun 15, 2019 12:19 pm
firlandsfarm wrote:
Sat Jun 15, 2019 5:19 am
The Honest Joe website was blank this morning!
The concept of a betting exchange is too complex for the casual mind to understand, we're all aware of the selling points of an exchange but the casual user doesn't really care about better prices and more control over their bets, they much more prefer a fast slick betting platform that's easy to understand and even easier to use, with endless obscure markets to gamble their money away faster and with Ray Winstone constantly reminding them in the background that they made the right choice. The archaic Betfair website doesn't look appealing at all to a casual, just the opposite. I feel that any real innovation needs to happen in this area, because putting a cash out button with a slider on the website and sending out a weekly email about this remarkable feature is nowhere near enough. If someone can somehow simplify using the exchange to the point where literally anyone can use it, and market it in ways that it makes it fun to actually use, then I think they could potentially go far with that approach.
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Derek27
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Location: UK

Honest Joe permanently has Newcastle on their website and when there's racing at Newcastle it's listed twice!

The website is really crying out "we haven't got much to invest".
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Kai
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Meanwhile, Betfair introduces a fancy new "refresh balance" button to their website. What a time to be alive.
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johnsheppard
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timbillington wrote:
Thu Jun 27, 2019 11:38 am

An app/website interface (with the exchange as is underneath providing the prices) for people who just want to bet and get better prices would do wonders.

So, have an interface where there is no back/lay presented. Just all the events (like on 365) with all the best prices that the exchange currently has (with the commission already factored in to avoid that confusion to someone when they get a different price).

No chance at all that Betfair will ever do this of course, but I believe it would really make the site accessible to a lot more people which can only be a good thing.
I haven't been around long enough to know. But I read somewhere in Wayne Bailey's Book, 'Sports trading on betfair' that Betfair did at one point direct everyone to the sportsbook version of the website. (That book was published around 2015). What that entailed, I don't know, but he didn't seem to like it. I get the impression he thought it was a bumsteer to traders...not sure....but perhaps I am mistaking what he meant by a sportsbook...
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Derek27
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The sportsbook has been the front page of betfair.com for some time - you have to add /exchange or bookmark the page to get to the exchange.
vide0star
Posts: 50
Joined: Thu Jul 07, 2011 8:19 pm
Location: London

timbillington wrote:
Thu Jun 27, 2019 11:38 am
This is spot on in my opinion.

An app/website interface (with the exchange as is underneath providing the prices) for people who just want to bet and get better prices would do wonders.

So, have an interface where there is no back/lay presented. Just all the events (like on 365) with all the best prices that the exchange currently has (with the commission already factored in to avoid that confusion to someone when they get a different price).

No chance at all that Betfair will ever do this of course, but I believe it would really make the site accessible to a lot more people which can only be a good thing.


Kai wrote:
Sat Jun 15, 2019 12:19 pm
firlandsfarm wrote:
Sat Jun 15, 2019 5:19 am
The Honest Joe website was blank this morning!
The concept of a betting exchange is too complex for the casual mind to understand, we're all aware of the selling points of an exchange but the casual user doesn't really care about better prices and more control over their bets, they much more prefer a fast slick betting platform that's easy to understand and even easier to use, with endless obscure markets to gamble their money away faster and with Ray Winstone constantly reminding them in the background that they made the right choice. The archaic Betfair website doesn't look appealing at all to a casual, just the opposite. I feel that any real innovation needs to happen in this area, because putting a cash out button with a slider on the website and sending out a weekly email about this remarkable feature is nowhere near enough. If someone can somehow simplify using the exchange to the point where literally anyone can use it, and market it in ways that it makes it fun to actually use, then I think they could potentially go far with that approach.
This is our plan. Coming soon to a mobile near you https://getsbk.com/
LinusP
Posts: 1871
Joined: Mon Jul 02, 2012 10:45 pm

vide0star wrote:
Fri Jun 28, 2019 7:27 pm
This is our plan. Coming soon to a mobile near you https://getsbk.com/
Any more information on this? Powered by the exchange? Will you ban people? Part of the API / have you opened it up yet?
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Kafkaesque
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ShaunWhite wrote:
Sat Jun 15, 2019 2:28 am
Business like nature abhores a vacuum, so that means there's good reasons this area isn't flourishing. In fact there's many many reasons which are either inherent or symptomatic of the current climate.

It's often the case that people close to an industry, as we are, overestimate it's fascination or wider significance. Exchanges remain undoubtedly niche, invaraibly as dull as ditch water, and I certainly wouldn't recommend anyone to play them as a means of entertainment. Exchanges need losers and what an exchange offers in return for their hard-earned is frankly never going to measure up in what's a very crowded leisure and leisure gambling sector.

If the huge industry players with deep deep pockets clearly can't see a return from it, or even much of a future, then there isn't. And no amount of daydreaming about how we all know better than them, and what idiots they all must be will change that. If I had the time and no money, trying to re-invent an already wobbly wheel would be on the same list as 'relaunch betamax', purists will love it, but nobody else will give a damn.

The only selling point exchanges have is 'value', and frankly blowing your money in 19 bets instead of 20 is a crap selling point for a crap experience.
Valid points. Although - and I might just be reinforcing your point on being to close to the industry - from my vantage point I struggle to get my head around there being room for as many players (on the bookie side of things) in the gambling/betting industry, and no room for an innovative exchange offering a complex product for traders, which doubles a very simple app with a backing selections set-up for punters.

To that end for what it's worth....
Kai wrote:
Sat Jun 15, 2019 12:19 pm
We all have ideas on how to improve things but even if a company would somehow see an exchange as more profitable and easier to run than a sportsbook, the exchange would need a large influx of casual users (for lack of a better word) and losers to really grow. The concept of a betting exchange is too complex for the casual mind to understand, we're all aware of the selling points of an exchange but the casual user doesn't really care about better prices and more control over their bets, they much more prefer a fast slick betting platform that's easy to understand and even easier to use, with endless obscure markets to gamble their money away faster and with Ray Winstone constantly reminding them in the background that they made the right choice. The archaic Betfair website doesn't look appealing at all to a casual, just the opposite. I feel that any real innovation needs to happen in this area, because putting a cash out button with a slider on the website and sending out a weekly email about this remarkable feature is nowhere near enough. If someone can somehow simplify using the exchange to the point where literally anyone can use it, and market it in ways that it makes it fun to actually use, then I think they could potentially go far with that approach.
You're likely correct in your assessment when it comes to average punters, to the tune of well past 50% of them, but given the size of the market as a whole, there's still a large potentiel client base, who be willing to spend a bit more time than just popping onto the Bet365 app and taking whatever price is on for what they feel will happen. As long as the extra time is kept at a minimum.

My take would be to be up front about when and how often the exchange offers the best prices. Betfair has been adament long enough that the exchange provides better prices that it shouldn't be a issue.

A betting portion of the exchange app would show this only:

- Current backing price on the exchange, and absolutely key, with it being minus commission to make is transparent.
- Current backing price across 5-10 majors bookies.

And would offer to:
- Back now at exchange price
- Don't back now but do so automatically if price reaches X
- Show rough percentages of prices reacing various levels (based on stats of how much various markets move)
- Notification if prices reaches various levels, higher than now but lower than the above point of automated bet placement (and the option to take said price with one click, if still available)
- Back automatically at any price above X, if there's still not bet placed X minutes before kickoff

Your average joe is plagued by FOMO, if they're "proven correct" by the result and they've missed out on having a punt, which is why the asking for a better price, despite sounding brilliant in theory, never worked practically as a betting practice. The above would combate that, and would give punters a bit a extra excitement in seeing if they're going to get an even better price for what they're sure will happen. Nevermind that they'll have zero clue that there's almost always a reason counting against them, causing the fact that they're getting a better price.
rostov
Posts: 50
Joined: Mon Jul 02, 2012 3:45 pm

LinusP wrote:
Sat Jun 29, 2019 9:06 am
vide0star wrote:
Fri Jun 28, 2019 7:27 pm
This is our plan. Coming soon to a mobile near you https://getsbk.com/
Any more information on this? Powered by the exchange? Will you ban people? Part of the API / have you opened it up yet?
Do bears shit in the woods?
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