That's actually more or less what I had in mind. Just provide your customers with a fun interface with cool features that even a simpleton could use, but also provide the advanced customers with more advanced exchange options which they can turn on if they wish to do so.Kafkaesque wrote: ↑Sat Jun 29, 2019 11:55 amA betting portion of the exchange app would show this only:Kai wrote: ↑Sat Jun 15, 2019 12:19 pmWe 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.
- 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.
Honestly how hard could that be?