In line with others I would welcome a strong alternative to Betfair and Betdaq and applaud your efforts.
There are many things that you need to address to attract the liquidity. On reading your T&C’s the following stopped me from opening an account (at the moment)
"The maximum value bet that can be placed is £2000, the minimum bet is £1."
Are you planning to remove this or up the limit?
Smarkets
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andyfuller
- Posts: 4619
- Joined: Wed Mar 25, 2009 12:23 pm
Cheers for clearing those points up Jason, appreciated.
If the best of the best on Betfair migrate to Smarkets, then the market maker will be up against people who are pretty good at taking money out of exchanges. Might that not cause them to withdraw from Smarkets?
Jeff
Jeff
vide0star wrote: It's from a third party market maker. I'm in the process of signing up more market makers.
That's the rub... 
If I were a trader affected by PC2, I might think:
'Once all the super-traders and expert gamblers head over to Smarkets, the market maker won't know what hit them! And once the market maker decides they've had enough and leaves, all that will be left are the pros. So rather than lock horns with people who know what they're doing, I'll go to Betdaq and try to take some money off the casual punters!'.
Jeff
If I were a trader affected by PC2, I might think:
'Once all the super-traders and expert gamblers head over to Smarkets, the market maker won't know what hit them! And once the market maker decides they've had enough and leaves, all that will be left are the pros. So rather than lock horns with people who know what they're doing, I'll go to Betdaq and try to take some money off the casual punters!'.
Jeff
vide0star wrote:Yes exactly which is why it's important for us to attract a mix of traders. I'll need everyone's help to build the right ecosystem.Ferru123 wrote:Might that not cause them to withdraw from
In order to attract people, do everything that made betfair special in the first place.... Pledge some sort of cast iron guarantee that winners will always be welcome and that you'll never introduce a PC, have a forum where people can talk openly without being censored, vow to never have casino games etc on the site - keep to the core of what betfair used to do well and make sure that people know that is what you're about
not really Jeff. Myself and Andy trade completely differently but we both make money. If we were in the same market we wouldn't be competing against each other. Trading is about learning how prices move within a market and being able to react to that.
Hi JimRobo
Trading is a sum zero game.
If you're up against the top 500 gamblers and traders, you're going to make less money than if you're also up against mug punters who bet on a horse because Templegate likes its chances!
Jeff
Trading is a sum zero game.
If you're up against the top 500 gamblers and traders, you're going to make less money than if you're also up against mug punters who bet on a horse because Templegate likes its chances!
Jeff
jimrobo wrote:not really Jeff. Myself and Andy trade completely differently but we both make money. If we were in the same market we wouldn't be competing against each other. Trading is about learning how prices move within a market and being able to react to that.
I think thats the big problem with the exchange model,
it's very very hard to get the casual / losing punters / traders to use your exchange, when they have no real reason to do so .
We all know about smarkets now,
but thats only for one reason because we are looking for them and alternatives to BF.
But anyway I wish them luck and really do hope they can pull it off
it's very very hard to get the casual / losing punters / traders to use your exchange, when they have no real reason to do so .
We all know about smarkets now,
but thats only for one reason because we are looking for them and alternatives to BF.
But anyway I wish them luck and really do hope they can pull it off
That's why we've spent so much time trying to think about the user experience. There's no reason an exchange can't provide the best betting proposition on the internet. We have a lot of features we're working on that we think will make Smarkets the best betting experience in the world for the casual bettor.freddy wrote:I think thats the big problem with the exchange model,
it's very very hard to get the casual / losing punters / traders to use your exchange
Another way to look at it, bookmakers are really simplisitc versions of a betting exchange. There's only one market maker, you can only bet one direction and you can't queue for a better price.