Betfair now cross matching on Horse Racing

[PeterLe]

Hi
I traded both these markets today and did slightly better than I would have expected..so happy overall...(Obviously the sample rate is low, so perhaps it was just a fluke?...)

I did watch a couple of these races and although it difficult to quantify or express it verbally, they just "looked" different, if that makes sense; especially towards the final closing stages.

Are betfair likely to state whether it was successful or not? Will the experiment be repeated??

Thanks
Peter

[andyfuller]

Are betfair likely to state whether it was successful or not? Will the experiment be repeated?

I think we will know if it was a success if we see it again. I suspect it was a success for them.

It was interesting they choose a Friday when normally they test things out on Monday to Wednesday. Also why did they choose those two meetings?

I found it substantially better from my viewpoint and a fellow trader I talked to thought it was the best thing since sliced bread. We are both keen to see it rolled out on more meetings.

The reason I liked it so much was because my bets got matched that quite often would not have done so, it was the same reason for the other guy I chat to each day.

So from this viewpoint I thought it was great, I haven't seen anyone who says it was negative as yet?

What will be interesting is when a late non runner happens and they can't remove it from the market as bets will be getting struck against that runner normally, though of course they will have thought about this and will have something in place, what, I don't know?

I would be very interested to hear what the Bet Angel guys think about, specifically Peter who I am sure understands it far better than most of us?

[Ollie LJ]

I think some of the "improvements" in the market may be more in the mind than real. As Betfair said in their statement:

We don’t expect customers to notice any material difference in the way the markets operate today.

[jimrobo]

Surely that means that when the market go's in play the amounts that we are seeing on the ladder is an incorrect view of the market as potentially there is money ahead of you in the ladder without you realising???

[Bet Angel]

There have been a number of strategies that customer used very effectively to benefit from the wild book %'s in play on a number of markets. The cross matching killed off those customers on previous markets so I guess they will run into the same problem on the horse racing if it is implemented. I don't do much inplay so can't offer a comparison.

[PeterLe]

Hi
I dont know if anyone else has noticed a difference to the in play horse racing market this last week??
I dont have enough data to compare it yet...(if anyone has read the Malcolm Gladwell Book - Blink, you'll know what I mean)...but it just doesn't 'look' right to me?
I've just asked betfair to confirm if they are still performing cross matching or whether the exercise was merely a one off trial..
Maybe I'm imagining it; but if anyone else how noticed it..it will at least confirm I'm not going mad!
Regards
Peter

PS I'll post the reply from Betfair if I get one...

[andyfuller]

I am pretty confident that XM has not been active since that one day. If it has I need to go to specsavers

Let us know what BF say.

[PeterLe]

Replay from betfair....:-
Dear Peter

Thank you for your e-mail.

At present there is no confirmation of whether this is going to be an ongoing operation. At present the previous weeks trial is under review, with a further announcement to be made on the Service page of the forum to be made.

Please do not hesitate to contact us if you have any further enquiries.

Kind regards,

Ross Taylor

Betfair Helpdesk"

Andy - I was only talking about in play...(Was you?)
The Aus markets seem the same as ever - no difference...
Anyway; I'll see how today goes...
Thanks
Peter

[andyfuller]

Yes I was only talking about inplay. There were some very distinct things that highlighted it was on during the two meeting trial, those have not been present since. Also have a watch of the over round inplay that clearly indicates to me it isn't working, also trade some of the quieter meetings inplay and again it clearly indicates to me it isn't working.

From the email they have sent you I would conclude that it is not in operation.

[rogerpalmtree]

can I just confirm that with regards to horse racing cross matching would only ever be implimented in play due to rule 4's? Or is there a possibility of pre race cross matching????

[andyfuller]

At present they are only able to do it inplay because of the chance of horses being removed from the market. I beleive they are working on introducing it to the pre off markets but as yet it seems they don't have a solution.....yet!

[andyfuller]

I asked:

1 . Since the trial of the Cross Matching on the horse racing markets we have not heard anything more on the subject. Could you please update us. Will you be introducing it and if so when? Was the trial not a success and hence why we have not seen it return?

BF replied:

1) The trial of cross matching on inplay racing markets went well. We hope to introduce this soon, although this requires some IT development work first. We’ll let you know when we have more accurate information on a start date

[sweetybt]

I don't think there has been XM this week, I felt there was no flip flopping at all during the test due to the XM while this is not the case this week.

I wish they would take FIFA approach to IT developments.

[andyfuller]

It hasn't been in place since the one afternoon they trialled it.

[sweetybt]

On a number of occasions each month a horse is withdrawn and it is not noticed until the market has gone in-play. In this case what will betfair do if they XM bets across the market and incur losses?

accept the losses ?

void the market ?

I say vote Sepp Blatter for Betfair Life President and he will keep the Status Quo, in fact bring the Status Quo band members on to the Betfair Board as well