Awesome marketing...

[BabyArber]

One has to love this little gem of an ad from Betfair's website:

Original.png

You can watch the vid here:
https://www.youtube.com/watch?v=k8gt2uRpFwc

It sounds amazing, and Peter makes it look all rather easy but...

We know the reality is a little different...

So I fixed it...

Fixed.png

Think I should send my resume to Betfair's marketing department?

[Euler]

Your glass is half empty

[BabyArber]

Haha, perhaps... or been doing too much marketing for less than authentic products in the last few years which may have turned me into a tired old cynic.

[NeilSpence]

Baby Arber,
Just put £3200 into your account and you can do it too then if thats all it takes. I got no idea why people are so "cynical". Just cause they can't do it themselves does it mean that no one should be able to.

[Iron]

I used to be a copywriter - working in marketing does indeed make you jaded! So does working in customer services, which I'm doing now, as you have to deal with customers when they find out that marketers and sales reps presented a picture which over-emphasised the positive!

'All marketers are liars.' - Seth Godin

Jeff

Haha, perhaps... or been doing too much marketing for less than authentic products in the last few years which may have turned me into a tired old cynic.

[Euler]

A newbie visiting this forum may sometimes be mistaken for thinking it's another rip off gambling site, not the best thing ever to happen to gambling markets.

[Iron]

To a point they would be right.

Betfair is a bit like a casino, the only difference being that, if you are part of the 1-5% who manage to find an edge and exploit it, you don't get shown to the door by tough men in suits.

But for most people, Betfair is at best a fairly inexpensive but enjoyable hobby, and at worst a source of severely negative emotional and financial scenarios.

Jeff

A newbie visiting this forum may sometimes be mistaken for thinking it's another rip off gambling site, not the best thing ever to happen to gambling markets.

[Euler]

You've got yourself in such a negative mindset Jeff that I'd be surprised if you ever escape. I know many people have opened the door for you, but you have to walk through it!

Trading on Betfair is completely different to traditional gambling, I've not met one person who can prove to me that they have made money gambling via a sportsbook, but my contact list is overflowing with successful exchange participants.

I'd understand if you were in one of the many rip off sites that have popped up in recent years where even the founders of the can't make money, but you are in a very different place here. So use that to your advantage rather than using it as a sounding board for your own failings.

[Iron]

my contact list is overflowing with successful exchange participants.

I don't doubt that. However, I do doubt whether that's representative.

It doesn't appear to be possible to set up a poll in the forum, but if it were, I would ask the following question:

'Over the past 12 months, have you made an overall profit on Betfair?'

I would imagine that the overwhelming response would be 'No', even though there are likely to be a higher proportion of successful Betfair users on the forum than in the general Betfair punter/trader population.

As for my own 'negative mindset', the fact that I am still posting here tells you I haven't given up. In fact, I am finally beginning to see the light. Watch this space!

However, being positive doesn't mean being blinded to harsh realities of trading, one of which is that it's a zero sum game where the few feed off of the many.

Jeff

[Euler]

Or to flip it the other way, as I discovered 14 years ago now. If you trade at random the market will you lose little, only your comission on a winning trade if you have no edge and it only takes a small nudge to turn break even positive given the significant number of positive aspects to the market.

It's a half empty / half full situation.

Edges are everywhere in the market to be had, but curiously people seem to struggle to take them. I realise that, but it doesn't appear to be the structure of the market that seems to be the problem.

[Iron]

I recently came across this in a financial forum, and something similar may apply to Betfair.

Jeff

Edges are everywhere in the market to be had, but curiously people seem to struggle to take them. I realise that, but it doesn't appear to be the structure of the market that seems to be the problem.

[marko236]

Or to flip it the other way, as I discovered 14 years ago now. If you trade at random the market will you lose little, only your comission on a winning trade if you have no edge and it only takes a small nudge to turn break even positive given the significant number of positive aspects to the market.

It's a half empty / half full situation.

Edges are everywhere in the market to be had, but curiously people seem to struggle to take them. I realise that, but it doesn't appear to be the structure of the market that seems to be the problem.

The above quote is what pushed me from losing money into making money, i only make small amounts of money per market but that doesn't really matter as i trade over 200 markets per week.

[Euler]

In case you missed it, there are no transaction fees on Betfair. Huge difference.

[Iron]

Spread and commission aren't transaction fees?

In case you missed it, there are no transaction fees on Betfair. Huge difference.

[Euler]

Once again you try and find a negative from something that is an overwhelming positive. That's the barrier you have to overcome if you want to be successful Jeff.