I do understand what you guys are saying and I dont disagree. I only trade part time and I have a regular well paid job (career) that I enjoy doing (although at one point I was earning more on Betfair than via my regular job).
I enjoy the interaction with my colleagues and customers and enjoy the travel/benefits etc…but you do get to take some sh*t too!! They want their pound of flesh! No matter what job you have, it always seems mundane at times?
It would be interesting to hear from anyone who has done this full time and returned to work and get their views. Unless you are fortunate to go into a high paying job you will never get anywhere near what you are earning on here?
I was talking to my mate this morning who regularly gets up at 4am to drive a lorry (imagine sitting on the M6 on a Friday afternoon for £15Hour or what ever it is>?) Hell on earth!
Betfair - Ask the Managing directors Q&A Session
the crazy thing was I was completely in at the top with an upcoming company before I gave it up to trade full time. At the time it was the right decision because the markets were on the up. With hindsight it was a bit of a crazy decision but thats life!
Sorry Peter, just a joke and wasn't personal.Euler wrote:Unfortunately not I can report, that's a common myth. If competition is too intense it becomes a war of attrition and nobody makes a penny.LinusP wrote:The trick is to be the guy selling the diggers.
I'd be interested to know why things changed so massively, and who was responsible?
In 2007, I attended one of their education evenings at Brighton racecourse. It was run by Scott Ferguson, and the whole evening was dedicated towards showing all traders how to achieve a green screen and make money whatever the result
At the same time, Betfair were running TV adverts showing the benefits of a P2P exchange and how bookmakers were ripping customers off with their outdated model
Within 12-18 months we had PC arriving and the P2P adverts disappeared
Something clearly changed dramatically in 2008, I'd love to know what that was
In 2007, I attended one of their education evenings at Brighton racecourse. It was run by Scott Ferguson, and the whole evening was dedicated towards showing all traders how to achieve a green screen and make money whatever the result
At the same time, Betfair were running TV adverts showing the benefits of a P2P exchange and how bookmakers were ripping customers off with their outdated model
Within 12-18 months we had PC arriving and the P2P adverts disappeared
Something clearly changed dramatically in 2008, I'd love to know what that was
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superfrank
- Posts: 2762
- Joined: Fri Aug 14, 2009 8:28 pm
i guess a fair p2p betting/trading platform (with no profits tax) was too good to be true.
good luck to all those deciding to move on.
good luck to all those deciding to move on.
Last edited by superfrank on Fri Dec 20, 2013 11:10 pm, edited 1 time in total.
£15 a hour? You're kidding. Those days are long gone. The influx of Eastern European labour meant that companies like Tesco pretty much sacked all their drivers and took on a new workforce on lower paid contracts. many HGV jobs are less than £8 an hour unless you are a tanker driver or need a specialised licence. I get your point though.PeterLe wrote:I do understand what you guys are saying and I dont disagree. I only trade part time and I have a regular well paid job (career) that I enjoy doing (although at one point I was earning more on Betfair than via my regular job).
I enjoy the interaction with my colleagues and customers and enjoy the travel/benefits etc…but you do get to take some sh*t too!! They want their pound of flesh! No matter what job you have, it always seems mundane at times?
It would be interesting to hear from anyone who has done this full time and returned to work and get their views. Unless you are fortunate to go into a high paying job you will never get anywhere near what you are earning on here?
I was talking to my mate this morning who regularly gets up at 4am to drive a lorry (imagine sitting on the M6 on a Friday afternoon for £15Hour or what ever it is>?) Hell on earth!
I think all of us have a "grass is greener attitude". I can only relate to my previous job. As it stands, even though sometimes it was "hell on earth". I would rather be there now.
Spot on "grass is greener" attitude. I have changed my life quite significant in the last 5 weeks expecting it to be much better. It is something what I wanted to do for the last couple of years. Guess what? I already think it was a wrong decision. I think we have to love, be passionate about what we do and everything else will follow. I don't want to sound stupid but I think that's why PW is so successful. He simply loves what he does. Most of us are here to make money and we get angry when things go different way than we expected them to go. Our EGO takes over and before we know, it becomes stressful and our results disappoint us. From now on I am happy with what I have got rather than being miserable about things I don't have.
2008 was just a few quartes away from the 2010 flotation...LeTiss 4pm wrote:I'd be interested to know why things changed so massively, and who was responsible?
In 2007, I attended one of their education evenings at Brighton racecourse. It was run by Scott Ferguson, and the whole evening was dedicated towards showing all traders how to achieve a green screen and make money whatever the result
At the same time, Betfair were running TV adverts showing the benefits of a P2P exchange and how bookmakers were ripping customers off with their outdated model
Within 12-18 months we had PC arriving and the P2P adverts disappeared
Something clearly changed dramatically in 2008, I'd love to know what that was
... and just a few quarters after the Softbank pre-float purchase in 2006.
the pressure Softbank must have placed on Black et al to float betfair so they could flip their bit on to mugs must have been horrendous. I think Softbank had like a fifth of the whole betfair show in the late naughties.
To nudge the City into a float betfair HAD to show escalating revenue. That couldn't come from steady 5% VAT (effectively that's what commission is) on winners.
And since the 2010 float betfair's gone from the frying pan into the fire - from Softbank pressure to dividend pressure. These have to at least gently escalate. By my back-of-the envelope tally, half of betfair's dividends into the City are from premium charge thieving.
in short... the City!!
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superfrank
- Posts: 2762
- Joined: Fri Aug 14, 2009 8:28 pm
+1, great post. sums it up very well.
the existence of the pc is quite bizarre when you think about it - i thought it was a joke when it was announced.
the exchange revolution should have nearly killed off traditional bookmaking by now - like digital cameras killing off film cameras - 'hard to believe things have gone backwards.
the existence of the pc is quite bizarre when you think about it - i thought it was a joke when it was announced.
the exchange revolution should have nearly killed off traditional bookmaking by now - like digital cameras killing off film cameras - 'hard to believe things have gone backwards.
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tweebie1999
- Posts: 89
- Joined: Tue Dec 21, 2010 9:23 am
Why if Betfair is so unpopular over the PC don't punters / traders shift over to Betdaq/Ladbrokes? These exchanges don't have the PC yet their liquidity doesn't seem to me to be improving.
Let's be frank, bookies are scum.tweebie1999 wrote:Why if Betfair is so unpopular over the PC don't punters / traders shift over to Betdaq/Ladbrokes? These exchanges don't have the PC yet their liquidity doesn't seem to me to be improving.
And the loathing for betfair's recent clusterfuck is the same loathing of bookmakers.
There's no moral difference between bookies and drug dealers peddling free samples outside primary schools. Both aim to profit by ruining lives.
Thanks to the digital age an alternative to bookies emerged, betfair. Yet now that same people's exchange are promoting a rip-off book, where the intent is to rip off mug punters and recycle the looting into dividends for the city, it's just disgraceful.
Why don't you guys use Betdaq for the big sports events like prem league and big horse racing events,tweebie1999 wrote:Why if Betfair is so unpopular over the PC don't punters / traders shift over to Betdaq/Ladbrokes? These exchanges don't have the PC yet their liquidity doesn't seem to me to be improving.
and use betfair for the medium size events?
If you all do this and reduce your profits on Betfair then they might start getting the message.