Betfair have announced they are now cross matching on Australian markets as well as the UK, but the last paragraph of the Q&A was the most interesting: -
http://cross-matching.betfair.com.au/
Q: Is Betfair now "active" in these markets/are Betfair running a bot?
A: What we've changed is a core part of bet matching. When we get a bet request we're now looking at all the customer bet requests it could be matched against, not just opposing bets on the same selection. It would be misleading to describe that as being a bot, or Betfair being "active" on our markets, as matching customer bets is what Betfair does.
As part of the cross-matching process, Betfair uses an internal account which acts as a counterparty to the bets being cross-matched. The cross-matching process may result in a small amount of residual funds remaining in the internal account in some instances. This residual may occur because Betfair only matches customer bets at discrete odds intervals.
Any residual funds that accumulate in this internal counterparty account as a result of the operation of cross-matching on Australian markets will be provided back to customers through future events involving cross-matching markets, in a manner that is approved by the Tasmanian Gaming Commission.
Cross matching
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andyfuller
- Posts: 4619
- Joined: Wed Mar 25, 2009 12:23 pm
There are different legal issues that for sure. Also of note is:
Q: How will I know if cross-matching is operating on a particular market?
A: The operation of cross-matching on any Australian market will be notated in the market information.
Q: Which markets will be affected by this change?
A: We plan to roll this functionality out to all markets on the site , except those which can have non-runners (like Horse Racing win and place markets) and those where runners can be added ("Accumulators" for example).
Q: How will I know if cross-matching is operating on a particular market?
A: The operation of cross-matching on any Australian market will be notated in the market information.
Q: Which markets will be affected by this change?
A: We plan to roll this functionality out to all markets on the site , except those which can have non-runners (like Horse Racing win and place markets) and those where runners can be added ("Accumulators" for example).
