As some of you may have noticed, I am still a little upset about this new Premium Charge that Betfair are introducing. I have opened and re-activated accounts with BETDAQ and WBX respectively, and will be closely monitoring both those sites. I enjoy, and make my profits, in the markets that are relatively volatile - sports like cricket, baseball, basketball and American football. Whether the liquidity will be there or not remains to be seen, but I am more hopeful now than ever that at last there could be a serious challenge to Betfair's position as market leader.
Representatives at both WBX and BETDAQ expressed their delight and surprise at this change in fortune and this could be a very costly own goal by the executives at Betfair.
Rumours are spreading that Betfair may be in some financial trouble. I personally doubt it, but if they are, it is because they have spent too much money on unpopular products - games I have never heard of for example. Get back to being an exchange, match backers and layers, take your (fair) commission and leave it at that.
About Me
- Cassini
- I have had a life-long interest in sports and after studying Pure Mathematics with Statistics at secondary school, have been fascinated by odds and probability. The first system I came up with was a simple one - back the favourite and double up after a loss until a winner. Simple enough in theory, and I told my Dad about it. Not being a betting man himself, he ran it by some of his colleagues, and came home to tell me that it wouldn’t work because a long losing run would mean that the bank would be empty. Then there was always the possibility that the winner would be returned at odds-on, meaning that the total returns would not match the outlay. Not what a ten year old wants to hear! Only slightly daunted, I then went on a search for the Holy Grail, the secret to riches that I knew was out there somewhere. Finally in 2004 I stumbled across an article about Betting Exchanges and four years later I was able to make a steady profit.
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