Been fiddling on the correct score in footy this evening and the bets are being passed through.
I just backed 0-1 at 8.0, got rushed to 9.0, available at 9.80 on the exchange. Saw a blip of volume in the market.
Tested a variety of points and that seemed to work but it seems they are taking 8% margin. So terrible value against the exchange.
How does Betfair's price rush actually work?
Euler wrote:Been fiddling on the correct score in footy this evening and the bets are being passed through.
I just backed 0-1 at 8.0, got rushed to 9.0, available at 9.80 on the exchange. Saw a blip of volume in the market.
Tested a variety of points and that seemed to work but it seems they are taking 8% margin. So terrible value against the exchange.
price rush of 9 seems fair....the sportsbook customer will be paying no commission
commission is 5% and even higher in some countries
I'd forgotten about that advert. It's just plain bizarre. It's not even being selective with the truth like so many adverts no doubt are, it's just completely incorrect.andyfuller wrote:It wouldn't be the first time they have been in breech of the Advertising Standards Authority (ASA).
Remember the man drinking milk - thought this was one of their many banned adverts:
https://www.youtube.com/watch?v=vfZ93a_njiM
Obviously Betfair act as a middle man that is their entire business model! Furthermore who is the middle man meant to represent in a traditional bookmaker? You bet directly with the bookie, that's the "problem" BF resolves.
It's not only incorrect but it is saying the complete opposite of what is the case and I'm not even sure why. Surely something along the line of "we match these two people's bets and take a small commission thus giving them better odds" is not only more accurate but but would encourage more custom.
Not only do they lie in the ad but I have literally no idea why. Maybe it played better to a focus group or something.
I've checked out the price rush comprehensively and can report back the following.
(1) A lot of bets are not rushed.
(2) Bets that are rushed typically do so at high implied commission, i.e. never <5%
(3) You would always be better off using the exchange.
(4) Rushed bets don't necessarily appear on the exchange.
Somewhat different from what we were told here: -
https://betting.betfair.com/betfair-ann ... 14-51.html
(1) A lot of bets are not rushed.
(2) Bets that are rushed typically do so at high implied commission, i.e. never <5%
(3) You would always be better off using the exchange.
(4) Rushed bets don't necessarily appear on the exchange.
Somewhat different from what we were told here: -
https://betting.betfair.com/betfair-ann ... 14-51.html