Betfair are merging the Exchange & Sportsbook

[Euler]

Dear Peter,

On the 29th of July, the Exchange will be moving into a unified experience with the Sportsbook.

You'll be able to navigate between the Sportsbook and the Exchange with one tap - nothing changes about how you bet.

We're making these changes to the website on your mobile first, followed by the app in the coming weeks.

Here's everything you need to know about the upcoming changes.

https://support.betfair.com/app/answers ... re to Help

Betfair

[Euler]

That just appeared in my inbox. It's the first I've heard of it.

At first glance, it looks like it's the app only?

That would sort of make sense because when you search for Betfair on the App Store, it just shows you the Sportsbook. You have to scroll down for the Exchange, and the Sportsbook is 110,000 downloads, whereas the Exchange is less than one-third of that.

[Malteser]

Man, this is just going to hurt the exchange more I think. Betfair liquidity is almost dead for many sports now. I see the same market on Kalshi with 200 times the liquidity.

When people mention Betfair, they almost always mean the sportsbook now.

[agoodstreakdinner]

There button at bottom on it now from Exchange to Sportsbook on the mobile.

[Euler]

Man, this is just going to hurt the exchange more I think. Betfair liquidity is almost dead for many sports now. I see the same market on Kalshi with 200 times the liquidity.

When people mention Betfair, they almost always mean the sportsbook now.

If you look at the stats, nobody downloads the Exchange app any longer. They always download the Sportsbook, so actually, this would appear to be a positive for the Exchange.

Kalshi and Polymarket volumes are inflated and not comparable to the Betfair Exchange. It's probably the right move, as so many people seem to fall for it.

[rosecruz]

Stock is 66% down from its highs.

Flutter is already in prediction markets — FanDuel Predicts launched in December, Betfair Predicts is in beta in the UK https://predicts.betfair.com/

But are they really going to be able to compete with Kalshi and Polymarket?

Having one clear front window seems the way to go, otherwise they'd end up with three products (sportsbook, exchange and predictions)... that's way too confusing.

At the same time, they could have easily stuck with being the world's number 1 exchange and just launched other brands.

I remember when studying Marketing, we learned that brands that expand their range always suffer in the long term. Better to be the best at one thing than to try to be everything to everyone.

[aussie]

"They’ll never stay in the race unless they sort out their customer service, big time.

Hasn't been on their radar for a decade—no reason to think they'll change their tune now."

[ShaunWhite]

They’ll never stay in the race unless they sort out their customer service, big time.

Hasn't been on their radar for a decade—no reason to think they'll change their tune now.

What's the customer experience like on Kalshi and Polymarket?

[Big Bad Barney]

I remember when studying Marketing, we learned that brands that expand their range always suffer in the long term. Better to be the best at one thing than to try to be everything to everyone.

How do we explain the proliferation of the energy drink isle in the supermarket? Red Bull 'Winter Edition'........ wtf...people that drink that shit don't care if it's winter....

But, having said that, yeah I agree really...but then... who's got more money to blow?...they gotta do whatever makes em the most money...

I''d think Kalshi and Polymarkets is as full of as many regular punters as the regular bookies are........Betfair exchange appeals only to sensible people... they gotta lose that perception somehow...

[rosecruz]

How do we explain the proliferation of the energy drink isle in the supermarket? Red Bull 'Winter Edition'........ wtf...people that drink that shit don't care if it's winter....

- Sounds like desperation to me !

[ANGELS15]

That just appeared in my inbox. It's the first I've heard of it.

At first glance, it looks like it's the app only?

That would sort of make sense because when you search for Betfair on the App Store, it just shows you the Sportsbook. You have to scroll down for the Exchange, and the Sportsbook is 110,000 downloads, whereas the Exchange is less than one-third of that.

This is interesting I use the app a lot as I'm often out and about. I've not heard a dicky bird about this.

[Leb]

Stock is 66% down from its highs.

Flutter is already in prediction markets — FanDuel Predicts launched in December, Betfair Predicts is in beta in the UK https://predicts.betfair.com/

But are they really going to be able to compete with Kalshi and Polymarket?

Having one clear front window seems the way to go, otherwise they'd end up with three products (sportsbook, exchange and predictions)... that's way too confusing.

At the same time, they could have easily stuck with being the world's number 1 exchange and just launched other brands.

I remember when studying Marketing, we learned that brands that expand their range always suffer in the long term. Better to be the best at one thing than to try to be everything to everyone.

This. Betfair didn't just drop the ball, they buried it. A company founded in 2018 is raising at ~$40bn while they, with a 20 year head start and the whole concept to themselves, have watched the exchange shrivel and the stock lose two thirds of its value.

Even a blind man could see you can't build a global liquidity pool while banning half the planet and skimming 40%+ off your sharpest customers. And incredibly, they still haven't fixed it. The result: Kalshi 10x their volume in almost every major sport, 50x in plenty, and $10m of instant liquidity on World Cup qualifiers versus Betfair's £10k.

The funny thing is, whenever prediction markets come up these days it's all Kalshi, Polymarket, Robinhood, DraftKings. Nobody even mentions Betfair anymore. The company that invented the whole idea has managed to write itself out of the conversation.

My guess is they'll have to reopen the markets they shut down and slash their pricing radically if they want to still exist and compete in a few years. Feels like it's pretty much only the UK still betting on Betfair. Even the European punters they banned or priced out have moved on to Kalshi, and I can't say I blame them. Some management team should be sweating at the next AGM.