I suppose it's always good to talkEuler wrote:I am happy to speak to Betfair about it at the appropriate time. I'd also like to bring the wider community into it.
but honestly, betfair will just lie. There's no way a listed company will fess up to abusing their customer base
The best way is to challenge betfair to explain their accounts line items and especially p&L spikes. They will still try to lie but will be aware the FSA get involved with public deceptions about accounts
A quick peak on their 2013 accounts and I think betfair have already "admitted" they trade against their customers, and report the profits on their sportsbook line
http://corporate.betfair.com/investor-r ... /2013.aspx
"to reflect the risk we are taking, we build a margin into our Sportsbook odds and apply other risk management techniques. Over time, we expect these margins to allow us to generate revenue."
So remind me again how you transfer risk while making a profit? Yup, obvious innit, shit rolls downwards...
Sportsbook is showing a +33% year-on-year profit in 2013.