Just stumbled across Smarkets... so called s0cuial betting site...
wondered if anyone had used them???
Smarkets?????
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spreadbetting
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- Joined: Sun Jan 31, 2010 8:06 pm
Just had a look and few of the markets are priced up plus the layout looks like some free template off the net.
Early days for them I guess so it's good to see someone new having the guts to try and break into the exchange market. Trouble is no ones managed to break betfairs monopoly yet and can't see them lasting long using percentage odds rather than decimals
Early days for them I guess so it's good to see someone new having the guts to try and break into the exchange market. Trouble is no ones managed to break betfairs monopoly yet and can't see them lasting long using percentage odds rather than decimals
True.
And the frustrating thing is that Betdaq don't exactly seem to be trying their best to give Betfair a run for their money...
Jeff
And the frustrating thing is that Betdaq don't exactly seem to be trying their best to give Betfair a run for their money...
Jeff
spreadbetting wrote:Trouble is no ones managed to break betfairs monopoly yet and can't see them lasting long using percentage odds rather than decimals
I'd never heard of them beforeherbie wrote:Just stumbled across Smarkets... so called s0cuial betting site...
wondered if anyone had used them???
I just clicked onto the 1st market available - Celebrity's 1st elimination. There's a surpising amount of liquidity there, but they need to change the % into decimal prices to attract a large number of new customers
Hi guys
We agree with you here, and hope to remedy this situation!
You can change our odds format to decimal, fractional, american or percentages using the tab in the top right hand corner or 'odds' tab if you have logged in.
[/quote]spreadbetting wrote:Trouble is no ones managed to break betfairs monopoly yet and can't see them lasting long using percentage odds rather than decimals
We agree with you here, and hope to remedy this situation!
You can change our odds format to decimal, fractional, american or percentages using the tab in the top right hand corner or 'odds' tab if you have logged in.
Hi Smarkets
What will you do differently to Betfair's other competitors to ensure you succeed where they have failed?
Jeff
What will you do differently to Betfair's other competitors to ensure you succeed where they have failed?
Jeff
smarkets wrote: We agree with you here [about the fact that no-one ha managed to break Betfair's monopoly], and hope to remedy this situation!
Smarkets,
First of all, thank you for getting involved in this discussion.
Are you setting yourself up to deal with specialised markets? Or is your idea to go up against the big boys? ...or should I say boy?.. Is your long term interest in the casual punter or traders, or both? I hope betangel doesn't mind these questions been asked, but I feel the answers will benefit all of us.
thank you in advance
Herbie
First of all, thank you for getting involved in this discussion.
Are you setting yourself up to deal with specialised markets? Or is your idea to go up against the big boys? ...or should I say boy?.. Is your long term interest in the casual punter or traders, or both? I hope betangel doesn't mind these questions been asked, but I feel the answers will benefit all of us.
thank you in advance
Herbie
We do have an API and the documentation can be found here: http://smarkets.com/api/documentation/ If you have any questions or feedback send me an email [email protected]
Several market makers currently price our pre in-play markets, with more on the way.
Jeff - We're from the financial industry so we're hoping we can bring a fresh view to the betting exchange concept. We would really appreciate any feedback.
Several market makers currently price our pre in-play markets, with more on the way.
Jeff - We're from the financial industry so we're hoping we can bring a fresh view to the betting exchange concept. We would really appreciate any feedback.
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spreadbetting
- Posts: 3140
- Joined: Sun Jan 31, 2010 8:06 pm
Good to see you've an API on the go chris pity that's also in 1/100000 of GBP and percentages rather than decimals. I'm assuming the %'s etc have come from the financial background but can you explain the reasoning why, or what benefits it brings?
I always thought one of the failings of flutter was that despite the fact they had a better setup and site than betfair they made big errors by sticking with the traditional fractional odds format, whilst everyone else was moving to decimals, and also mainly promoted the site as a social/friend v friend format which made it seem more of a niche site than betting site.
I always thought one of the failings of flutter was that despite the fact they had a better setup and site than betfair they made big errors by sticking with the traditional fractional odds format, whilst everyone else was moving to decimals, and also mainly promoted the site as a social/friend v friend format which made it seem more of a niche site than betting site.
Hi Chris
Just a couple of random suggestions:
A. I think you need a tagline, and you need it to be featured prominently on your page, so people can tell instantly what your site's all about. Perhaps something like 'Smarkets: The smart way to bet'.
B. I'd make it clearer that you're a peer-to-peer service, as people might assume you're a traditional bookie.
C. I'd make it clear at a glance how many money is available on side of the book, for three prices each side of the spread. Perhaps you could also introduce a betting ladder.
D. I'd introduce horse racing markets.
E. I'd make it possible so users can create graphs that show prices and volumes matched on the y axis, and time on the x axis. If you can include indicators like moving averages and the MACD, so much the better.
F. There's way too much text in the FAQ page - people will think 'I haven't got time to wade through that lot!'. I'd therefore create hyperlinks to the 'Betting', 'Your Account', etc sections.
G. I wouldn't express odds as percentages by default - you'll have lots of people thinking 'What the ... ?!?' before moving on to Betfair.
H. The 'Team' page (http://smarkets.com/about/team/) gives the impression that you're a bunch of kids who, having watched the Apprentice and Dragon's Den, decided to start up a new business venture. Given that you're asking people to trust you with their money, I'm not sure whether that's the best image to convey.
I. You need to work on finding ways of generating volume. Why not ask the guys on this site what you'd need to do to get them to trade on your site instead or as well as Betfair?
I hope this helps.
Jeff
Just a couple of random suggestions:
A. I think you need a tagline, and you need it to be featured prominently on your page, so people can tell instantly what your site's all about. Perhaps something like 'Smarkets: The smart way to bet'.
B. I'd make it clearer that you're a peer-to-peer service, as people might assume you're a traditional bookie.
C. I'd make it clear at a glance how many money is available on side of the book, for three prices each side of the spread. Perhaps you could also introduce a betting ladder.
D. I'd introduce horse racing markets.
E. I'd make it possible so users can create graphs that show prices and volumes matched on the y axis, and time on the x axis. If you can include indicators like moving averages and the MACD, so much the better.
F. There's way too much text in the FAQ page - people will think 'I haven't got time to wade through that lot!'. I'd therefore create hyperlinks to the 'Betting', 'Your Account', etc sections.
G. I wouldn't express odds as percentages by default - you'll have lots of people thinking 'What the ... ?!?' before moving on to Betfair.
H. The 'Team' page (http://smarkets.com/about/team/) gives the impression that you're a bunch of kids who, having watched the Apprentice and Dragon's Den, decided to start up a new business venture.
Given that you're asking people to trust you with their money, I'm not sure whether that's the best image to convey.I. You need to work on finding ways of generating volume. Why not ask the guys on this site what you'd need to do to get them to trade on your site instead or as well as Betfair?
I hope this helps.
Jeff
smarkets wrote:
Jeff - We're from the financial industry so we're hoping we can bring a fresh view to the betting exchange concept. We would really appreciate any feedback.
Hi Herbie
We currently have a wide range of betting markets, including on sports and current affairs. We are looking to expand the range of markets we offer so that people will be able to use Smarkets to bet on most events.
As to your second point, we want cater to the demands of both casual punters and traders, and believe that there are benefits from having both on a single exchange. We have a customisable interface that allows users to choose how they would prefer to view markets, offering both a ‘standard’ view and a ‘market depth’ view similar to other exchanges.
We currently have a wide range of betting markets, including on sports and current affairs. We are looking to expand the range of markets we offer so that people will be able to use Smarkets to bet on most events.
As to your second point, we want cater to the demands of both casual punters and traders, and believe that there are benefits from having both on a single exchange. We have a customisable interface that allows users to choose how they would prefer to view markets, offering both a ‘standard’ view and a ‘market depth’ view similar to other exchanges.
spreadbetting - We feel percentages are the most logical odds format, as for a start they are linearly scaled (unlike decimals), so you can judge spread more easily (even at extremely high or low odds). They are also much more intuitive for first time bettors, and over/under round can be quickly calculated. At the end of the day percentages are the default measure of probability, and from what all odds are derived from!
However we realise decimals have certain advantages, in that they are vital for comparison to other bookamkers/exchanges, and allow for quick calculation of profits, which is why we have the option to show decimals.
Ferru123 - A lot of those suggestions we are currently working on, or do have future plans for. Your feedback is really appreciated!
However we realise decimals have certain advantages, in that they are vital for comparison to other bookamkers/exchanges, and allow for quick calculation of profits, which is why we have the option to show decimals.
Ferru123 - A lot of those suggestions we are currently working on, or do have future plans for. Your feedback is really appreciated!