Betfair API Down

[kerberus]

Calling from Betdaq, I just decreased their liquidity by £2 (Flying Angel - aptly enough). Wierdly - I've still got BF up on my old lapstop If I could guarantee a bet/timing or whatever it could be a great way to make money the lags are visible. My new laptop(rebooted) can't even give me the event list

[ShaunWhite]

I understand its liquidity, surely if everyone moves to betdaq wont that improve liquidity,I know its not an easy thing but betfair dont seem to care about it..

... you'd need the bookies and the punters to move to it Jerry, if 'we' all move, all we'll be doing is taking money from each other.

[Mr Undercover]

Tech at Betdaq is primative compared to BF. If they experienced the volume BF deal with they go through a large learning curve.

[Mr Jerry Twig]

I understand its liquidity, surely if everyone moves to betdaq wont that improve liquidity,I know its not an easy thing but betfair dont seem to care about it..

... you'd need the bookies and the punters to move to it Jerry, if 'we' all move, all we'll be doing is taking money from each other.

So we just do nothing but complain to each other when it happens?, surely traders make up a high percent of liquidity in the markets?. 1 group moves its only a matter of time before more move..if the punters and bookies money isnt being matched with betfair isnt betdaq the next option?

[Mr Undercover]

BF tech is state of the art - read about project 'FLYWHEEL' if you want to understand how they engineered a real time transaction engine to cope with more simultaneous traffic than the London and New york stock exchanges combined. This was a massive costly tech project with north of $100m investment. Betdaq runs on a shoestring by comparison and simply has got the capacity so do what BF do.

sadly for bf occasionally bugs arise usually after a software drop...

[kerberus]

Somebody should set up an alternative exchange. If BDaq and BF*** are gonna play at British Supermarkets then we should invite AldiFair and LidlDaq .

(Open a book on CEO sackings just wondering how you'd pick a winner in a field full of losers)

[kerberus]

Mr Undercover, I agree with what you say, but they should not fanny about with other peoples money. If the system acts up - void the bets.
Please send me £10 of your money - I may return it assuming no "technical glitches" occur in my life system.

[ShaunWhite]

BF tech is state of the art - read about project 'FLYWHEEL' if you want to understand how they engineered a real time transaction engine to cope with more simultaneous traffic than the London and New york stock exchanges combined. This was a massive costly tech project with north of $100m investment. Betdaq runs on a shoestring by comparison and simply has got the capacity so do what BF do.

sadly for bf occasionally bugs arise usually after a software drop...

yeah BF do OK. I used to design and write trading systems in the city, and understand the issues, so I have substantial admiration for their ops. Next time you get time off, google "Knight Capital Group trading error" to see what can go wrong. btw i wasn't working for them

[Mr Undercover]

Mr Undercover, I agree with what you say, but they should not fanny about with other peoples money. If the system acts up - void the bets.
Please send me £10 of your money - I may return it assuming no "technical glitches" occur in my life system.

I agree, where the service faulters they should void and return everyone's money but of course they don't due to commercial imperatives... drive for profit to keep investors happy. Unfortunately 'we' the little people get trudden on in the process.

[kerberus]

Again I agree, (with Mr Undercover - there's a lot of posts in this thread today and I will NEVER agree with everybody) But the precedence is set every single race with non-runners. The market is adjusted.
The IT systems are a component part of the market infrastructure. Every single market consists of GeeGees, Jockeys, etc. etc. And IT systems. A rule 4 should be applied. You mentioned "Flywheel" if it isn't running send it to the dogfood factory and can it!

[Dallas]

I agree, where the service faulters they should void and return everyone's money but of course they don't due to commercial imperatives... drive for profit to keep investors happy. Unfortunately 'we' the little people get trudden on in the process.

Its a catch 22 that cant keep everyone happy while a return of open bets would suit us traders in this situation what about those who have hedged the liabilitys from else where to just one side of the BF book they then continue going about there daily busisness only to find that BF have voided there several thousand bet just because of a few mins outage just before event started which has now left them over exposed elsewhere.

Same goes for the casual punter if they keep finding bets they placed have been voided just because some computer has broke right before the off they will soon start heading back to traditional bookies once they dont get paid out and without real money the exchange will become a very different place.

So voiding bets wont work imo but they should at least have a back up solution that can kick in if these situation occurs and give people some chance rather then leaving those exposed high and dry and needing to find thier own way out especially if its a large poisition and its very close to the off

[Mr Undercover]

I agree, where the service faulters they should void and return everyone's money but of course they don't due to commercial imperatives... drive for profit to keep investors happy. Unfortunately 'we' the little people get trudden on in the process.

Its a catch 22 that cant keep everyone happy while a return of open bets would suit us traders in this situation what about those who have hedged the liabilitys from else where to just one side of the BF book they then continue going about there daily busisness only to find that BF have voided there several thousand bet just because of a few mins outage just before event started which has now left them over exposed elsewhere.

Same goes for the casual punter if they keep finding bets they placed have been voided just because some computer has broke right before the off they will soon start heading back to traditional bookies once they dont get paid out and without real money the exchange will become a very different place.

So voiding bets wont work imo but they should at least have a back up solution that can kick in if these situation occurs and give people some chance rather then leaving those exposed high and dry and needing to find thier own way out especially if its a large poisition and its very close to the off

Yep, this is exactly right you've hit the nail on the head. They do have the tech to void bets through a specific period where a glitch occurred but its political and their priority is biased towards large liquidity providers and big casual punters... we traders are near bottom of the pile. There was an infamous occasion one of these big liquidity providers software cocked up and they accepted several $m liability on a winner and betfair voided the race to save their skin... it was a big deal at the time.

[Mr Undercover]

http://www.telegraph.co.uk/sport/horser ... spute.html

[kerberus]

NR - Rule 4 etc. etc.
Precedence is there.

BF and BD do not have control over the horses and cannot throw a dead donkey in as a replacement. But they could warn people with the same fervour as their "advertising people" do with their casino games etc. They throw money at trying to get new customers. The "supermarket" example I used is (I think) apt. The CEO's didn't keep their eye on the market. The mighty Tesco cannot get rid Giraffes, and Dobbies (or Dobbins) fast enough.
I posted a quote from a betfair tweet. Not some flashy advert at the front of your face as you log in.
The problem was a "known". I went to look for info after checking this thread.
Ooops. It's not my PC, it's not Virgin(76MB - thankyou), it's not Betangel(how could it be) it's not the GeeGees, it's not the Jockeys so whos bl**dy fault is it?

[kerberus]

Again Mr Undercover I agree with you

Many Betfair punters will be knowledgable enough to understand any “highly technical” explanation the company cares to put forward. An arrogant silence is not good enough.

Telegraph
Jan 2012

Maybe I should use Littlewoods, Vernons and Zetters as an example instead of supermarkets.