Betfair Sportsbook

[xitian]

Just noticed today that there's a new "Bet type" selection in the "Betting History" area of "My Account". You can choose "Exchange" or "Sportsbook".

Has that only just appeared, or has that been there a while now? No other references to the Sportsbook anywhere else that I can see though. I guess they'll be launching it soon.

[Boing]

Interesting stuff, thanks for pointing it out. Guess they are moving nearer to a launch.

[andyfuller]

Several news stories recently mentioning it so I would guess it isn't far away:

http://www.thisismoney.co.uk/money/mark ... ds-newsxml

[LeTiss]

My advice is to closely watch the activities of all bookmakers, and what selections they are universally shortening or lengthening.
BF will clearly use their exchange as an opportunity to dump liabilites from their sportsbook. This will create some good market moves if you've seen what's happening elsewhere

[Euler]

Several news stories recently mentioning it so I would guess it isn't far away:

http://www.thisismoney.co.uk/money/mark ... ds-newsxml

I see from the comments section people are not exactly greeting it with open arms.

I think it's an error to head down this route as NOT being a bookie has always been their greatest strength. That fact aside people had SP but that hasn't really changed things despite being very competitive. If they are going to take risk then they run into the issue that other bookies have of either accepting unlimited liability or restricting stakes. They could hedge on the exchange but that brings it's own problems. So I'm struggling to see how it will enhance the overall experiance of using Betfair.

I can see they want to compete with bookie offers, but how are they going to do that at the tiny margins the exchange can offer?

It's going to be interesting.

[superfrank]

Best rated comment from the article!...

Remember when Betfair ran a coffin through the City proclaiming the 'Death of the Bookmaker'? Looks like Betfair have decided to hitch a ride in the hearse!!! So after introducing a 'Winners Tax' to ensure anyone who dares to win consistently on the exchange has to pay up to 60% of their winnings to Betfair, now they are after the 'mug trade' that goes to other bookies that they once derided. Maybe Betfair should run another coffin through the City proclaiming 'Death to the Winning Gambler' You couldnt make it up.....

- Shaun, Stotfold

[LeTiss]

From those who have knowledge of BF's historical inner workings, I'd be interested to know when or where it all changed.

When did they start becoming this grotesque monster we've come to hate so much?

[Euler]

When Bert went non executive. It change almost from that day.

[Ethanol]

I'll be betting that those hedged bets which Betfair puts from their sportsbook to the exchange will be put straight to the front of the queue.

Keep your eyes open for this competely expected behaviour...

[convoysur-2]

im sure they are already putting there money at the front of the q.
Marc