They have been in Denmark for the last 18 years, but Wednesday Danish customers received an email, stating Betfair will be closing down in a week, with the explanation "business reasons".
That hit me as a shock. I definitely didn't see that coming! And especially only with a week's notice.
So my question is: What are my fellow Danish traders going to do now?
From what I can gather, Betfair is the only trading platform with a Danish gambling licence, so it looks like the whole trading niche for Danes, is pretty much dead now.
And even if another provider decides to enter the Danish market, there's always the issue of low liquidity in the markets on smaller platforms. We'll all be fighting over pennies and complaining about huge spreads.
I've been trading since 2008, using it as an extra source of income on the side. I never wanted to go full time, as I love my job as a musician. And the working hours as a musician fits the trading hours beautifully.
I also didn't want the stress and worry of being forces to make profits on the markets month after month, in order to keep my house and get food on the table. There are better ways for this, in my opinion.
But now I'm sitting here with all this knowledge and experience that I've spent countless hours acquiring and refining over the years, only for it to suddenly become completely useless, and see it go straight down the toilet.
I've got a few ideas of my own about what to do next, but I'd really like to hear what other Danish traders are thinking too. Or in fact, if anybody else have some input, I would love to hear from you.
I've previously considered a transition from sports trading to stock and forex trading, but never get that far. Maybe now is the time.
But at least 50% of my trading knowledge, strategies and experience, are focused around reading inplay horse racing and tennis, so these skills will be more or less useless in the future for me.
I also considered starting teaching/coahing. I considered it already in the past, but always ended up dismissing it, as felt I would risk to give my edge away. But at this point it seems like I have nothing to lose, as I already going to lose what there is to lose.
Any input and feeback is appreciated.
Thank you
Jean