In Denmark you pay up to 6,5% in commission already. Sometimes I therefore use the Sportsbook. Every Thursday you receive a free bet on 15 Dkk (1,7 British Pounds).
Today I got an email from BF that I no longer qualify for these free bets and campaigns on the Sportsbook. They assure me that it will not affect anything on the Exchange.
What puzzles me is that I thought Betfair did not behave in this manner (as an ordinary Bookmaker)
Best regards from Denmark
Betfair as a bookmaker.
Every successful punter gets barred from the Sportsbook, unfortunately. That is run just like any bookie, it's only the exchange that's a free for all.TheDane wrote: ↑Sat Mar 09, 2024 3:27 pmIn Denmark you pay up to 6,5% in commission already. Sometimes I therefore use the Sportsbook. Every Thursday you receive a free bet on 15 Dkk (1,7 British Pounds).
Today I got an email from BF that I no longer qualify for these free bets and campaigns on the Sportsbook. They assure me that it will not affect anything on the Exchange.
What puzzles me is that I thought Betfair did not behave in this manner (as an ordinary Bookmaker)
Best regards from Denmark
You'll probably find, although they say no more free bets, that they've restricted your stakes on the Sportsbook. Mine was restricted to £0.00.
Thanks Derek27 and Euler!
Without being paranoid. Maybe it serves a certain purpose for Betfair not to separate the Sportsbook and the Exchange.
Maybe in this way they can keep an eye on the successful punters/traders and learn from their behavior??
Anyway, it seems like they cannot get enough, which is. actually a clear warning to their customer base.
It seems better for the Australians, when shown the video, how nicely they try to treat the customers down under.
Best regards from Denmark
Without being paranoid. Maybe it serves a certain purpose for Betfair not to separate the Sportsbook and the Exchange.
Maybe in this way they can keep an eye on the successful punters/traders and learn from their behavior??
Anyway, it seems like they cannot get enough, which is. actually a clear warning to their customer base.
It seems better for the Australians, when shown the video, how nicely they try to treat the customers down under.
Best regards from Denmark
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johnsheppard
- Posts: 284
- Joined: Mon Feb 04, 2019 6:00 am
- Location: Cairns Australia
I'm from AU, and haven't even looked or seen the sportsbook. I would think if they were interested in having a proper exchange they wouldn't care for keeping on eye on successful punters...I would say it's more of a case of "hey, the bookies are making squillions more than us, lets try and do both"....which I reckon just dilutes ones brand...I can picture the caffeinated meeting that spawned it.
Hi John.
You have a point. It just does not make sense to have a Sportsbook, if one's intention is to run an exchange.
The question to me is then why Betfair find it necessary to make such a step, when they already had near monopoly on the exchange bit.
Seems odd to see Betfair behave like an ordinary bookmaker (like eg. Derek27 and I obviously have experienced).
Best regards from Denmark
You have a point. It just does not make sense to have a Sportsbook, if one's intention is to run an exchange.
The question to me is then why Betfair find it necessary to make such a step, when they already had near monopoly on the exchange bit.
Seems odd to see Betfair behave like an ordinary bookmaker (like eg. Derek27 and I obviously have experienced).
Best regards from Denmark
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johnsheppard
- Posts: 284
- Joined: Mon Feb 04, 2019 6:00 am
- Location: Cairns Australia
Yes I must say I don't really know, I don't claim to know THAT much about the industry, I am still learning (this isn't my fulltime income...).
Betfair still do have a near monopoly. Having a sportsbook only changes their brand. I would guess it's just a mistake that many companies or maybe even small business owners make. Smart experienced people with an eye on the future financial profits of a company aren't always at the top.
Also they are owned by Flutter, who bought them? I dunno how many years ago. A quick google says 2016 they merged with Paddy Power.
Myself, being in Australia, in the back of my mind, I don't like the idea that I would be pegging my income on a single exchange with no alternatives. If Russia bombs the England to death for example...don't think AU betfair would still be around. Many markets to bet on would be gone too
I presume BetDAQ wouldn't immediately step in to fill the void either
Betfair still do have a near monopoly. Having a sportsbook only changes their brand. I would guess it's just a mistake that many companies or maybe even small business owners make. Smart experienced people with an eye on the future financial profits of a company aren't always at the top.
Also they are owned by Flutter, who bought them? I dunno how many years ago. A quick google says 2016 they merged with Paddy Power.
Myself, being in Australia, in the back of my mind, I don't like the idea that I would be pegging my income on a single exchange with no alternatives. If Russia bombs the England to death for example...don't think AU betfair would still be around. Many markets to bet on would be gone too
I presume BetDAQ wouldn't immediately step in to fill the void either
The thing is, Betdaq does not exist as an alternative in Denmark. You cannot open an account to trade.
I saw BF as one of "the good guys" back then.
Now I just realized it is like running to the police only to find out they are just as corrupt as anyone else.
My mistake to jump on the Sportsbook wagon (when commission being 6,5% for starters here) believing they would have an honest sportsbook for all.
Best regards from Denmark
I saw BF as one of "the good guys" back then.
Now I just realized it is like running to the police only to find out they are just as corrupt as anyone else.
My mistake to jump on the Sportsbook wagon (when commission being 6,5% for starters here) believing they would have an honest sportsbook for all.
Best regards from Denmark
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johnsheppard
- Posts: 284
- Joined: Mon Feb 04, 2019 6:00 am
- Location: Cairns Australia
My small dealings with Betfair AU has been good. They support a quant/trader slack channel there, and are clearly interested in growing it and supporting us (been a little while since I been in there though). The thing is that its capitalism and things change. If there's more money on the table or things change at the top and the next peoples in charge sees various things as costs, they get the chop. There is no good guys. Just ways to make money.
I could be wrong, but pretty sure bookmakers tend to make way more money than exchanges do.