Betdaq Feedback/General Chat Thread

[jamesedwards]

Another idea for Betdaq to differentiate from Betfair on horse racing would be to hold horse race markets open for a set period after the race ends. After all, the result is not known with 100% certainty until the weigh-in is announced. There is huge amounts of money waiting to be matched at extreme ends of the market on Betfair when the race gets suspended with lots of appetite for trading on photos and risk of stewards enquiries. I would be all over Betdaq if they implemented this.

[Naffman]

Another idea for Betdaq to differentiate from Betfair on horse racing would be to hold horse race markets open for a set period after the race ends. After all, the result is not known with 100% certainty until the weigh-in is announced. There is huge amounts of money waiting to be matched at extreme ends of the market on Betfair when the race gets suspended with lots of appetite for trading on photos and risk of stewards enquiries. I would be all over Betdaq if they implemented this.

+1

[Betdaq]

Thailand's on there : https://betdaq.zendesk.com/hc/en-gb/art ... tries-list

The list was very small a couple years ago

We do not accept customers from Thailand.

Why is this country list being actively updated if it's not accurate?

Can you provide a full country list?

I was wrong. Thailand is accepted. I double checked on the reg page and thought it was not on it. That list is accurate I am told.

[Betdaq]

Another idea for Betdaq to differentiate from Betfair on horse racing would be to hold horse race markets open for a set period after the race ends. After all, the result is not known with 100% certainty until the weigh-in is announced. There is huge amounts of money waiting to be matched at extreme ends of the market on Betfair when the race gets suspended with lots of appetite for trading on photos and risk of stewards enquiries. I would be all over Betdaq if they implemented this.

I often have this issue when discussing requests for matched bettors. We have to consider all customers on the site. In fact we already had feedback in this thread about slow settlement. We cant satisfy both requests and the vast majority want their funds asap. Does this make sense?

[Naffman]

Another idea for Betdaq to differentiate from Betfair on horse racing would be to hold horse race markets open for a set period after the race ends. After all, the result is not known with 100% certainty until the weigh-in is announced. There is huge amounts of money waiting to be matched at extreme ends of the market on Betfair when the race gets suspended with lots of appetite for trading on photos and risk of stewards enquiries. I would be all over Betdaq if they implemented this.

I often have this issue when discussing requests for matched bettors. We have to consider all customers on the site. In fact we already had feedback in this thread about slow settlement. We cant satisfy both requests and the vast majority want their funds asap. Does this make sense?

If there is a photo/inquiry they won't be able to get their funds as soon as the race finishes anyway. And the amounts that would be bet after the race would generate far more commission to BD than matched bettors would.

[Betdaq]

I guess it is time to tackle premium charge or in our case no premium charge. The truth is that 99% of customers on here will not be impacted by a charge. There are very few customers who are on a higher rate. The main reason we steer clear of a structured premium charge model is down to the fact we do not need one.

I think a good example might be if we assume our PC charge came in at 100k profit. There is a huge difference between someone who wins 100k on premiership markets versus a Greyhound customer who only bets Doncaster greyhounds.

I think there are a few things to consider.

1 - We want to take on Betfair so this means ensuring we are a lot more competitive than them to attract customers like all of you.
2 - We do not have a trading arm and commission is how we make our revenue. This means we are not motivated to punish winner.

Would customers prefer we had a rule that said win X and pay Y. If someone is pumping offers into the ecosystem. Would they not prefer if we were looking at what sports and markets they contribute on? Would they not like us to to consider their make/take volume? Should we not look at their yield (commission paid to profit made).

I am open to questions on any of this and I am sure there will be questions.

[Kai]

No PC whatsoever would be the only real selling point for me

But the lower liquidity overall could still likely be a deal-breaker, bar a few specific strategies

[jamesedwards]

Another idea for Betdaq to differentiate from Betfair on horse racing would be to hold horse race markets open for a set period after the race ends. After all, the result is not known with 100% certainty until the weigh-in is announced. There is huge amounts of money waiting to be matched at extreme ends of the market on Betfair when the race gets suspended with lots of appetite for trading on photos and risk of stewards enquiries. I would be all over Betdaq if they implemented this.

I often have this issue when discussing requests for matched bettors. We have to consider all customers on the site. In fact we already had feedback in this thread about slow settlement. We cant satisfy both requests and the vast majority want their funds asap. Does this make sense?

You only need a few seconds.

Suspend on race finish then open every race again straight away for a set period of time. It only needs to be 30 secs or so, (or longer in the event of a close photo or stewards enquiry).

Betfair don't reopen enough markets and are often far too slow to do so. You would trade a lot of £££s.

[Kai]

Betfair don't reopen enough markets and are often far too slow to do so. You would trade a lot of £££s.

Yes, sometimes it takes them 3-5 business days

[Betdaq]

No PC whatsoever would be the only real selling point for me

But the lower liquidity overall could still likely be a deal-breaker, bar a few specific strategies

I have to argue this. The best market makers in the world replicate their trading on Betdaq and Betfair. There will never be an exchange that does not charge a very small % of customers a PC. The vast majority of customers I chatted with said they were just sick of paying X% on Betfair. I will hazard a guess that it is very unlikely a PC will impact you but without knowing more information about you I cannot say that for sure. I would be extremely confident that if it was to impact you that the rate would be much lower than elsewhere. I would also say if it got to the stage that PC was an issue it would surely prove that Betdaq is valuable to BA and other API customers.

This is similar to the people on twitter who say if I deposit £100 and win £100k will you 100% say I will never get asked for bank statements. I can never say that they will 100% not be asked.

You talk about lower liquidity and I take that point. That is why I am saying to people do not move your wallet over fully. I would suggest customers start testing us and seeing what they think.

I am 10 years in the exchange industry and everyone is calling for an alternative since the day I started in 2014. I have the chance to try and offer that now and I am going to give it a go. Everyone will find reasons not to join. I am going to ask that people look for reasons to join.

[Betdaq]

Another idea for Betdaq to differentiate from Betfair on horse racing would be to hold horse race markets open for a set period after the race ends. After all, the result is not known with 100% certainty until the weigh-in is announced. There is huge amounts of money waiting to be matched at extreme ends of the market on Betfair when the race gets suspended with lots of appetite for trading on photos and risk of stewards enquiries. I would be all over Betdaq if they implemented this.

I often have this issue when discussing requests for matched bettors. We have to consider all customers on the site. In fact we already had feedback in this thread about slow settlement. We cant satisfy both requests and the vast majority want their funds asap. Does this make sense?

You only need a few seconds.

Suspend on race finish then open every race again straight away for a set period of time. It only needs to be 30 secs or so, (or longer in the event of a close photo or stewards enquiry).

Betfair don't reopen enough markets and are often far too slow to do so. You would trade a lot of £££s.

Close photo or stewards you are 100% correct. It should be open. This is the second piece of feedback on this today. I will be looking into it.

[Betdaq]

Betfair don't reopen enough markets and are often far too slow to do so. You would trade a lot of £££s.

Yes, sometimes it takes them 3-5 business days

3-5 business days?

[jamesedwards]

I often have this issue when discussing requests for matched bettors. We have to consider all customers on the site. In fact we already had feedback in this thread about slow settlement. We cant satisfy both requests and the vast majority want their funds asap. Does this make sense?

You only need a few seconds.

Suspend on race finish then open every race again straight away for a set period of time. It only needs to be 30 secs or so, (or longer in the event of a close photo or stewards enquiry).

Betfair don't reopen enough markets and are often far too slow to do so. You would trade a lot of £££s.

Close photo or stewards you are 100% correct. It should be open. This is the second piece of feedback on this today. I will be looking into it.

You miss the point. There is huge amounts of money sat on betfair wanting to take positions at the end of a race that can't because the market closes so quickly. People want to bet on whether there may be an enquiry, or to manage their positions. Currently they only have the opportunity to do so if there happens to be a photo or enquiry called. If every market was opened for 30 secs or so after every race then people would be pumping money through betdaq because they can't on betfair.

[Emmson]

Betdaq's mission seems to have always been

To Survive Not Thrive

[Dave C]

Hi Enda.

Great initiative and long overdue from BetDaq. In no other business that I can think of- however niche Sports Trading may be- has one company had such a dominance in the market as BF has.

I can only echo what previous posters have said regarding Horse Racing settlement times. However, Greyhounds are settled speedily.

Again, it's all Chicken and Egg isn't it? Liquidity and BetAngel for BD won't increase or be updated without numbers and numbers won't increase without these growing or being implemented.

Btw is Matchbook still in Blackpool, Cork? I went for a job interview there many years ago but for some reason I sweated up like a filly on the July course at Newmarket beforehand and needless to say never heard back.