Dear All,
So far all discussion re exit from Betfair is to Betdaq. What are your opinions of WBX?
I know I received an email subject = '...No Premium Charge at WBX.com'.
Haven't heard a peep from 'The Daq' and I've had an active account with them for over a year!!
Beanstalk
WBX
Hi Beanstalk
Betfair currently have about £6.2 million matched on Nadal vs Djokovic. The figure for WBX is about £20,000! So the lack of liquidity means that, for now, they offer no alternative to Betfair.
Ditto Smarkets (who don't even tell you how much money is available or has been matched, making them about as useful as an ashtray on the back of a motorbike as far as trading is concerned!).
Jeff
Betfair currently have about £6.2 million matched on Nadal vs Djokovic. The figure for WBX is about £20,000! So the lack of liquidity means that, for now, they offer no alternative to Betfair.
Ditto Smarkets (who don't even tell you how much money is available or has been matched, making them about as useful as an ashtray on the back of a motorbike as far as trading is concerned!).
Jeff
Jeff,
Granted, liquidity is small, but WBX are worth a consideration. Personally, I find their website more usable than the 'Daq.
Further, there are a few peculiarities I dislike about Betdaq API quoted prices. For example, when odds and liquidity are exhausted on a selection in a market the price defaults to 1.01 not 1000. So, from a price observation perspective 4 runners in a 10 runner field can drop to 1.01 and look like dead certainties!
Not meaning to stir up a WBX vs Betdaq thread, more concerned that alot of traders are assuming Betdaq to be the ONLY alternative.
Beanstalk
Granted, liquidity is small, but WBX are worth a consideration. Personally, I find their website more usable than the 'Daq.
Further, there are a few peculiarities I dislike about Betdaq API quoted prices. For example, when odds and liquidity are exhausted on a selection in a market the price defaults to 1.01 not 1000. So, from a price observation perspective 4 runners in a 10 runner field can drop to 1.01 and look like dead certainties!
Not meaning to stir up a WBX vs Betdaq thread, more concerned that alot of traders are assuming Betdaq to be the ONLY alternative.
Beanstalk
But the traders bring the liquidity. This is the fundamental point of objection for those affected by the increase in the charge.Ferru123 wrote: the liquidity is way too small if you're a trader IMHO.
They were the early seeds of liquidity for Betfair. And now they can take that liquidity to other exchanges.
IMHO the argument shouldn't be circular or chicken and egg 'Which came first? The liquidity or the traders?'
There are some substantial exchange users on Betfair that can seed the markets on any exchange they choose.
The middle to lower ranks of traders can act independently of the big guys and also bring their liquidity where ever they choose.
Beanstalk
The problem any exchange faces is that attracting new casual punters will be a slow process. Even if they offer a permanent 2% commission, your guy who bets a tenner on his football team at the weekend will probably think "I can't be bothered with the hassle of switching, especially as Betfair will probably lower their prices to compete with these guys anyway".beanstalk wrote: IMHO the argument shouldn't be circular or chicken and egg 'Which came first? The liquidity or the traders?'
IMHO, until such time as someone offers a genuinely commission and charge free exchange (funded by advertising and software companies using the API), Betfair will retain its monopoly.
Jeff
Hi Beanstalk -
Just to add to my previous point, I've just downloaded a load of data from data.betfair.com, relating to UK horse races.
The average bet size for the data I looked at was about £26.50, suggesting that the vast majority of Betfair's volume comes from casual punters, not traders or high rolling gamblers. This reinforces the argument that the traders must go where the casual gamblers go - that they can't create a viable market on their own.
Jeff
Just to add to my previous point, I've just downloaded a load of data from data.betfair.com, relating to UK horse races.
The average bet size for the data I looked at was about £26.50, suggesting that the vast majority of Betfair's volume comes from casual punters, not traders or high rolling gamblers. This reinforces the argument that the traders must go where the casual gamblers go - that they can't create a viable market on their own.
Jeff
I thought Betfair use Betting Promotions of Malta to promote their markets and provide liquidity. Do the other exchanges not do the same?
http://www.bettingpromotion.se/Default2_eng.aspx
http://www.bettingpromotion.se/Default2_eng.aspx
Not sure Jeff. I came across their name on punterslounge and the bloke mentioning them seems to know his stuff.
http://forum.punterslounge.com/f23/does ... ts-117515/
http://forum.punterslounge.com/f23/does ... ts-117515/
I have been looking at WBX
I have to be honest, I can't really work out their matched amount figures. The figures appear very small, but there's some decent amounts waiting to be matched. Either this is fake money, or their refreshing of matched figures isn't working.
Reading Peter's low opinion of them though, suggests they have no desire to be a major player in the exchanges. They have a sportsbook price and an exchange price, this indicates they are wanting to be a bookmaker instead of an exchange (just like our friends at BF)
I have to be honest, I can't really work out their matched amount figures. The figures appear very small, but there's some decent amounts waiting to be matched. Either this is fake money, or their refreshing of matched figures isn't working.
Reading Peter's low opinion of them though, suggests they have no desire to be a major player in the exchanges. They have a sportsbook price and an exchange price, this indicates they are wanting to be a bookmaker instead of an exchange (just like our friends at BF)