Future of Betfair

[Dim]

Future of Betfair.

Obviously with more and more regulation of the industry (possible affordability checks/min. loss per month) + stricter KYC etc. trading and/or betting is not going to become easier in the near future.

My dream is to have a similar to BF in size exchange, where anyone can deposit cryptocurrency .Convert it there to say USDT or any other stable coin and trade/bet that way. No checks, nothing. Then easily withdraw. Crypto sports exchange on stable coin.

Only imagine, how this could drive competition, BF service is not getting better(frequent outages) for example. Lack of investment in the exchange infrastructure is crystal clear.

That are your views ? Will cryptocurrencies change the sport betting markets operate?

[Trader724]

I think it's dangerous to show respect for your business partners only verbally. Even if there is no competition at the moment, things will definitely change and the losses for those who do not appreciate the partnership enough will be irreparable. The world is not standing still and everything will be gradually replaced by something better. I look forward to it.

[ShaunWhite]

Lack of investment in the exchange infrastructure is crystal clear.

I think you'll find many of the disruptions in the last couple of years has been due to a massive restructuring of the IT rather than neglect. Far from standing still they appear to be pressing forward. The migration to Kafka was especially demanding I suspect and I would have assumed the pro Betfair watchers/critics would have been aware of that and what it signalled.

https://ppb.technology/
https://www.technologymagazine.com/comp ... gitisation

[ShaunWhite]

Will cryptocurrencies change the sport betting markets operate?

The point of crypto seems to be traceability, i'm not sure an industry built on folding money will take well to everyone and his dog incl governments, credit & and tax agencies knowing every penny you transact. Crypto can f-off imo, I have enough trouble keeping my affairs on the low without being even more traceable. Crypto is the new facebook, you will be the product once everything you earn, make or buy is public knowledge.

https://bitcoin.org/en/protect-your-privacy

[Kai]

Considering the circumstances over the past year I feel they've done okay up until recently. You would maybe expect a lot more disruption.

[ShaunWhite]

Considering the circumstances over the past year I feel they've done okay up until recently. You would maybe expect a lot more disruption.

And that's on top of the major infrastructure changes too. As you know I used to build financial exchange trading systems so I feel qualified to comment, what BF do is far far harder and I'm continually impressed by them, as is anyone who understands what they achieve (almost) 247. Yep they aren't perfect but I'd settle for what they do 99.9% of the time rather than have some painfully slow system that worked 100% of the time. They're right on the edge of what's possible right now and that's bound to come with reliability issues. What's always lacking though is COMMUNICATION which is woeful at best. Love the tech, don't love the company.

[LeTiss]

I always had my concerns about the future of Betfair, the moment they opened a Sportsbook

It went against the very principles of the Exchange. When Betfair started, they were different and appealed to punters, layers and traders alike. Traders need the punters for liquidity and getting matched. The Sportsbook takes many of those punters away, which is terrible for the traders. This partially explains why the fill-rate feels slower these days

I remember the likes of Ladbrokes trying to close Betfair down. They thought it was plain wrong that they had built up years of goodwill, and Joe Bloggs shouldn't be allowed to lay bets. Clearly, they were protecting their own business, but Betfair won that battle, so to end up becoming a bookmaker themselves was akin to getting in bed with the enemy

Don't get me started on XM......

[verance]

Future of Betfair.

Obviously with more and more regulation of the industry (possible affordability checks/min. loss per month) + stricter KYC etc. trading and/or betting is not going to become easier in the near future.

My dream is to have a similar to BF in size exchange, where anyone can deposit cryptocurrency .Convert it there to say USDT or any other stable coin and trade/bet that way. No checks, nothing. Then easily withdraw. Crypto sports exchange on stable coin.

Only imagine, how this could drive competition, BF service is not getting better(frequent outages) for example. Lack of investment in the exchange infrastructure is crystal clear.

That are your views ? Will cryptocurrencies change the sport betting markets operate?

Would a crypto exchange not be forced into the same regulatory framework?

[sniffer66]

Lack of investment in the exchange infrastructure is crystal clear.

I think you'll find many of the disruptions in the last couple of years has been due to a massive restructuring of the IT rather than neglect. Far from standing still they appear to be pressing forward. The migration to Kafka was especially demanding I suspect and I would have assumed the pro Betfair watchers/critics would have been aware of that and what it signalled.

https://ppb.technology/
https://www.technologymagazine.com/comp ... gitisation

Good to know. My assumption was also lack of investment. Easier to bear the outages when you know it's due to backend improvements (which bode well for the future)

[Trader724]

When I see naive people even in their 50s, I'm sad, I'll probably be the same.

[wearthefoxhat]

Future of Betfair.

Obviously with more and more regulation of the industry (possible affordability checks/min. loss per month) + stricter KYC etc. trading and/or betting is not going to become easier in the near future.

My dream is to have a similar to BF in size exchange, where anyone can deposit cryptocurrency .Convert it there to say USDT or any other stable coin and trade/bet that way. No checks, nothing. Then easily withdraw. Crypto sports exchange on stable coin.

Only imagine, how this could drive competition, BF service is not getting better(frequent outages) for example. Lack of investment in the exchange infrastructure is crystal clear.

That are your views ? Will cryptocurrencies change the sport betting markets operate?

Would a crypto exchange not be forced into the same regulatory framework?

Tax would apply to cryptoassets when cashing out.

https://www.gov.uk/guidance/check-if-yo ... yptoassets

HMRC talk about tokens...they mean cryptoassets

crypto.png

[ShaunWhite]

I always had my concerns about the future of Betfair, the moment they opened a Sportsbook

I agree, it was a very strange move imo especially using the same branding. When you keep a close eye on PPB as we do, you can see they're literally chucking money at the exchange tech, but from an outsiders perspective you could be forgiven for thinking it's being wound down.

That months of work and millions spent in 2019 was purely to increase capacity 10 fold, was it really all done speculatively in the hope the US market would open up? or perhaps a big relaunch delayed by Covid...i dunno. The sound and the pictures really aren't in sync.

[Dim]

Future of Betfair.

Obviously with more and more regulation of the industry (possible affordability checks/min. loss per month) + stricter KYC etc. trading and/or betting is not going to become easier in the near future.

My dream is to have a similar to BF in size exchange, where anyone can deposit cryptocurrency .Convert it there to say USDT or any other stable coin and trade/bet that way. No checks, nothing. Then easily withdraw. Crypto sports exchange on stable coin.

Only imagine, how this could drive competition, BF service is not getting better(frequent outages) for example. Lack of investment in the exchange infrastructure is crystal clear.

That are your views ? Will cryptocurrencies change the sport betting markets operate?

Would a crypto exchange not be forced into the same regulatory framework?

Tax would apply to cryptoassets when cashing out.

https://www.gov.uk/guidance/check-if-yo ... yptoassets

HMRC talk about tokens...they mean cryptoassets


crypto.png

Right now is more like wild when it comes to crypto. And it is possible to cash out simply exchanging crypto to cash. Obviously different countries have different regulations . Perhaps laws in UK are already in place, but that is an exception I think.

[ShaunWhite]

Perhaps laws in UK are already in place, but that is an exception I think.

Exceptions become the rule. I don't understand why anyone would be interested in the authorities knowing even more about them than they already do now. But that's the modern world, sell a turd rolled in glitter and the rest of us have to put up with the smell. Like Facebook & Twitter...seemed harmless but it's changed geopolitics, and spread disinformation and radicialisation at an alarming rate. Be careful when you start messing with the very fabric of the global economic system.

[Dim]

Future of Betfair.

Obviously with more and more regulation of the industry (possible affordability checks/min. loss per month) + stricter KYC etc. trading and/or betting is not going to become easier in the near future.

My dream is to have a similar to BF in size exchange, where anyone can deposit cryptocurrency .Convert it there to say USDT or any other stable coin and trade/bet that way. No checks, nothing. Then easily withdraw. Crypto sports exchange on stable coin.

Only imagine, how this could drive competition, BF service is not getting better(frequent outages) for example. Lack of investment in the exchange infrastructure is crystal clear.

That are your views ? Will cryptocurrencies change the sport betting markets operate?

Would a crypto exchange not be forced into the same regulatory framework?
[/quotI

It is possible to operate like many crypto exchanges if you are a small player, not using large sums, all you need is just an email address to trade. No kyc, no checks.