Solomon Markets - 0% Commission Exchange

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Frankie7
Posts: 9
Joined: Wed Aug 05, 2020 3:33 pm

Hi,

Has anyone heard of Solomon Markets, they are currently in beta testing. You can sign up for early access. Most importantly they are claiming to be a 0% commission exchange.

I believe they only have markets on football at the moment but plan to include more (Cricket ,Tennis, Horseracing, etc) in the future

Does anyone have any hopes for this exchange 😂 ?

Cheers,
Frankie
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LeTiss
Posts: 5464
Joined: Fri May 08, 2009 6:04 pm

I notice they are currently recruiting for marketing experts and computer engineers

No idea who they are, but it's an interesting development for sure
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Frankie7
Posts: 9
Joined: Wed Aug 05, 2020 3:33 pm

Yes I’ve never heard of them. It’s looks very early days. Will try and get early access and see what it’s all about.
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Realrocknrolla
Posts: 1910
Joined: Fri Jun 05, 2020 7:15 pm

https://www.techcompanynews.com/startup ... -industry/
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Atho55
Posts: 678
Joined: Tue Oct 06, 2015 1:37 pm

BF must be doing this already and still charge commission...

Solomon £ Earner.jpg
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ShaunWhite
Posts: 10354
Joined: Sat Sep 03, 2016 3:42 am

Atho55 wrote: ↑
Thu Feb 18, 2021 1:30 pm
 BF must be doing this already and still charge commission...


Solomon £ Earner.jpg
All companies do it if they've got any sense but the overnight libor is only about 0.038% so you need a ton of money on deposit to make anything. And they'll be getting a lot less than libor because they're not a bank. I'm not sure this business model passes the sniff test.
Last edited by ShaunWhite on Thu Feb 18, 2021 1:46 pm, edited 1 time in total.
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ShaunWhite
Posts: 10354
Joined: Sat Sep 03, 2016 3:42 am

Not being "weighed down" by employees doesn't give you much confidence in their support and ongoing dev/maintenance.

No such thing as a free lunch.
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Naffman
Posts: 5897
Joined: Sun Aug 11, 2013 5:46 am

The way they put a smiley face after most sentences doesn't give me much confidence.

It's going to take a massive company to take Betfair on, we saw what happened with Honest Joe.
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LeTiss
Posts: 5464
Joined: Fri May 08, 2009 6:04 pm

ShaunWhite wrote: ↑
Thu Feb 18, 2021 1:42 pm
 Not being "weighed down" by employees doesn't give you much confidence in their support and ongoing dev/maintenance.

No such thing as a free lunch.
Yes. That does ring alarm bells, I must admit
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Atho55
Posts: 678
Joined: Tue Oct 06, 2015 1:37 pm

Not much difference to BF then...
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rik
Posts: 1583
Joined: Sat Jan 25, 2014 5:16 am

needs someone with a lot of money thats able to run on a loss for a while in order to get momentum going, not save on personnel etc
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Trader Pat
Posts: 4327
Joined: Tue Oct 25, 2016 12:50 pm

I'll let somebody else deposit their money and more importantly try to withdraw any potential profits before I'd make any kind of decision on it
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Euler
Posts: 26196
Joined: Wed Nov 10, 2010 1:39 pm

I bumped into these guys at some point last year I think. Looks quite speculative and very early doors.
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ShaunWhite
Posts: 10354
Joined: Sat Sep 03, 2016 3:42 am

Quite interesting that they're Americans this time.

I've asked them for details about their API. Unless they expect people to sit and type numbers in like it's 1990, then they're going to have to provide one. And presumably subsidise anyone investing in making their systems compatible? It's an exchange by name but looks like it's aimed at amateur punters rather than professionals.
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LeTiss
Posts: 5464
Joined: Fri May 08, 2009 6:04 pm

I notice their Twitter account was opened in Feb 2018

They have clearly been around for a while
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