I don't see it that way at all.
Mug punters can get a 150% book on a big event. Or come to exchange where we put our balls on the line for a fraction of that.
We shouldn't be ashamed of the value we offer to ordinary punters.
Betfair Account Restrictions & closed accounts - Getting them removed and accounts reopened
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Mug punters bet on pretty much any event anytime of the day, not sure they wait til the big meetings. At the end of the day we all want those mug punters, offering slightly better odds than the bookies is just our way of trying to tempt them rather than giving them free coffees.
Not saying we should be ashamed but shouldn't be naive and thinking we're doing them a favour either.
Not saying we should be ashamed but shouldn't be naive and thinking we're doing them a favour either.
- jamesedwards
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To complete a trade on an Exchange each party has to offer better value than the rest of the market, either better price or offering the top price for the longest. It makes no difference whether you are matched against a long term winner or a long term loser, you have improved the value of their tradetransferFunds wrote: ↑Sat Apr 16, 2022 5:39 pmMug punters bet on pretty much any event anytime of the day, not sure they wait til the big meetings. At the end of the day we all want those mug punters, offering slightly better odds than the bookies is just our way of trying to tempt them rather than giving them free coffees.
Not saying we should be ashamed but shouldn't be naive and thinking we're doing them a favour either.
Traders also offer up significant amounts of liquidity for punters to have an unrestricted punt.
We are happy to risk £1000 to win £10 to give punters the chance to grab some value by winning £1000 by backing with a £10 when the bookie would only give them a fraction of those odds. We have a role to play in the market and quite rightly get rewarded for it. But the margins are incredibly thin.
We are happy to risk £1000 to win £10 to give punters the chance to grab some value by winning £1000 by backing with a £10 when the bookie would only give them a fraction of those odds. We have a role to play in the market and quite rightly get rewarded for it. But the margins are incredibly thin.
- ShaunWhite
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Margins are tight everywhere there's an open market to buy and sell something.
- firlandsfarm
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Fully agree with Euler. If there are no exchange markets punters (mug or otherwise) would have to take the bookies prices which as we know will be way below what an exchange would offer them. None of use force a punter to bet but if they do we offer a better price 99.99% of the time.
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Not sure that's really the case, have a look at the markets for tomorrow's racing. Might be true 3 or 4 minutes out for horseracing when the bookies have put up their board prices. With the dogs you'd probably get better prices with the bookies if you wanted more than a tenner on a non fav. I'm not sure exchange traders are generous benefactors to mug punters but no point in arguing the toss.firlandsfarm wrote: ↑Sun Apr 17, 2022 11:30 amIf there are no exchange markets punters (mug or otherwise) would have to take the bookies prices which as we know will be way below what an exchange would offer them.
- firlandsfarm
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All I would say is the overround tells the story. I agree early prices can be difficult to find on the exchanges but it's rare you can find a 'matched bet' where the bookie beats to exchange to show a profit.transferFunds wrote: ↑Sun Apr 17, 2022 6:12 pmNot sure that's really the case, have a look at the markets for tomorrow's racing. Might be true 3 or 4 minutes out for horseracing when the bookies have put up their board prices. With the dogs you'd probably get better prices with the bookies if you wanted more than a tenner on a non fav. I'm not sure exchange traders are generous benefactors to mug punters but no point in arguing the toss.
It’s looks like the Betfair fun police are out-and-about again doing their paternalistic best. I received an email last week from a Key Account Executive wanting to talk to me. I’m sure he wants to coach me on how my recent net withdrawals and long-term profits make me a risk to myself and others! Lol. Here is an extract from the job description:
‘’The team is tasked with understanding the true needs and welfare of our clients, building socially responsible relationships to provide an enhanced level of monitoring & oversight of some of our highest spending and highest profile customers which will better enable us to manage any associated risks that they may bring to the business.’’
What a load of rubbish! I do hope BA brings the Betdaq software up to the Betfair level, so I can bin this dreadful company off once and for all.
‘’The team is tasked with understanding the true needs and welfare of our clients, building socially responsible relationships to provide an enhanced level of monitoring & oversight of some of our highest spending and highest profile customers which will better enable us to manage any associated risks that they may bring to the business.’’
What a load of rubbish! I do hope BA brings the Betdaq software up to the Betfair level, so I can bin this dreadful company off once and for all.
I think it's Betdaq that needs to get up to Betfair level. It's quite worrying that they're bothering profitable account holders. Perhaps they don't know the difference between spending and turnover.zippus wrote: ↑Sat Jun 25, 2022 11:23 pmIt’s looks like the Betfair fun police are out-and-about again doing their paternalistic best. I received an email last week from a Key Account Executive wanting to talk to me. I’m sure he wants to coach me on how my recent net withdrawals and long-term profits make me a risk to myself and others! Lol. Here is an extract from the job description:
‘’The team is tasked with understanding the true needs and welfare of our clients, building socially responsible relationships to provide an enhanced level of monitoring & oversight of some of our highest spending and highest profile customers which will better enable us to manage any associated risks that they may bring to the business.’’
What a load of rubbish! I do hope BA brings the Betdaq software up to the Betfair level, so I can bin this dreadful company off once and for all.
I will be changing address (to another address within 1 mile away) in next month, this thread and a few others on here have told me to expect issues despite me being on Betfair over a decade. Not looking forward to that at all, any tips to bypass the nonsense I expect to happen?
I moved and changed my address details through the Betfair website without any issues. Or maybe I forgot for a few weeks, but either way, I didn't have any problems.Emmson wrote: ↑Sun Aug 07, 2022 6:45 pmI will be changing address (to another address within 1 mile away) in next month, this thread and a few others on here have told me to expect issues despite me being on Betfair over a decade. Not looking forward to that at all, any tips to bypass the nonsense I expect to happen?
I think the best thing to do is change your address as soon as you've finished trading at your present address, so if there is any problem at least you'll be busy moving and not trading. Contacting the live chat and informing them that you're moving and keeping a copy of the chat will at least leave them with a record and give you a receipt.
Make sure you inform the DVLA if you have a driving licence. Potential £2000 fine if you don't. At my old address, it took me 5 years to get around to doing so.
Cheers Derek I will take on-board your thoughts. Moving house is stressful enough without this nonsense adding to it. Even Euler (the most prominent public Betfairer out there) has had issues with this.Derek27 wrote: ↑Sun Aug 07, 2022 7:01 pmI moved and changed my address details through the Betfair website without any issues. Or maybe I forgot for a few weeks, but either way, I didn't have any problems.Emmson wrote: ↑Sun Aug 07, 2022 6:45 pmI will be changing address (to another address within 1 mile away) in next month, this thread and a few others on here have told me to expect issues despite me being on Betfair over a decade. Not looking forward to that at all, any tips to bypass the nonsense I expect to happen?
I think the best thing to do is change your address as soon as you've finished trading at your present address, so if there is any problem at least you'll be busy moving and not trading. Contacting the live chat and informing them that you're moving and keeping a copy of the chat will at least leave them with a record and give you a receipt.
Make sure you inform the DVLA if you have a driving licence. Potential £2000 fine if you don't. At my old address, it took me 5 years to get around to doing so.
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