Betfair Down / Betfair site crash

[Kai]

I'm a bit stuck on the City game for around a grand, I'll wait until kickoff before hedging my bets on the Sportsbook.

[Dallas]

tried betdaq - ok to start but then odds seemed to be too gappy and not moving much last hour ish

Looked at BD for feature then done a few races afterwards, was a bit like trading Dogs

[Euler]

Once again, it's amusing to see how many full time professional traders on twitter missed the outage.

[Emmson]

Maybe a week long outage would be beneficial that would galvanize traders into looking at alternative in a serious way for the 1st time.

[Emmson]

Once again, it's amusing to see how many full time professional traders on twitter missed the outage.

Yes I noticed that, some of these characters are marketers before they are anything else.

[greenmark]

If this service is outsourced to a third party it'll be a whacking great penalty charge.

[dragontrades]

What is black, white and bald all over?

[Euler]

I just switch to Betdaq to trade and it works pretty well even if illquid. You can usually find a strategy that exploits that. But people don't really seem to use it that much, even if Betfair is down.

[Kafkaesque]

What is black, white and bald all over?

[Derek27]

you can't void 1 side only.

You can actually. I was talking about voiding bets, not literally but effectively. In other words, refunding the traders that the algorithm picks up.

If a £10K trader is refunded, both the back and lay bet would be effectively voided cancelling each other out. The people on the other side of those transactions will largely be traders, some will be gamblers whose bets will run, but that will be mitigated by being on the other side of the back and lay.

It was just an off the top of my head idea that we all think of in the darkest, gloomiest time of the week , wasn't suggesting that they implement it with immediate effect. Just an algorithm to calculate their position to see how much they could lose (or win) should be useful to them.

[Archangel]

I only trade weekends and holidays now so its a right pain in the hole when a Saturday is lost for me !

[JasBarrow]

As a trader if you got into the habit of always placing your closing positions in the market at the same time as your opening positions, and also using the Take SP function in the event of these outages wouldn't you stand to just lose a small amount if anything when the market is eventually reconciled?

So for example I place a lay bet at 3.30 and the back bet at 4.50 way outside the money... if there's an outage I can relax to an extent because as long as the back and lay stakes in the market add up to zero then I can only stand to lose a fraction of the liability if I would have been caught out with just my original lay bet taken and no back bet on the other side.

Or am I missing something?

[greenmark]

What is black, white and bald all over?

Lol.....quality!!!

[Derek27]

As a trader if you got into the habit of always placing your closing positions in the market at the same time as your opening positions, and also using the Take SP function in the event of these outages wouldn't you stand to just lose a small amount if anything when the market is eventually reconciled?

So for example I place a lay bet at 3.30 and the back bet at 4.50 way outside the money... if there's an outage I can relax to an extent because as long as the back and lay stakes in the market add up to zero then I can only stand to lose a fraction of the liability if I would have been caught out with just my original lay bet taken and no back bet on the other side.

Or am I missing something?

That's a strategy I use when I'm nervous about the exchange going down or missing the start of a race that doesn't go in-play, but it does have a few drawbacks. Particularly, a non-runner results in the lay bet set to take BSP and without knowing what price you'll eventually get it's hard to estimate your closing back trade.

[greenmark]

Maybe we're missing something.
Paddypower is a bookmaker.
Exchanges are not welcome.
Perhaps this is disruption via cost-cutting which will lose custom and the exchange will wither away. Would they really care?

Did the Sportsbook go down also ?

Sportsbook has been fine so far as i know.