Betfair announce end of trading then delete tweet
They posted this one last night then quickly removed in place of one saying 'Problems with our exchange and sportsbook'
Did anyone notice if the SB was down, or did they just realise how bad that first tweet sounded?
Did anyone notice if the SB was down, or did they just realise how bad that first tweet sounded?
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Kafkaesque
- Posts: 886
- Joined: Fri Oct 06, 2017 10:20 am
Didn't check myself, but others were writing in the other thread that the Sportsbook was down as well, for the first of the outages at least. Whether they got the SB up faster than the exchange, I don't know though.
Yes, I saw that tweet and so went to the Betfair website. At that very moment, everything was gone, but the Sportsbook was quickly restored, whereas the exchange.............
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Kafkaesque
- Posts: 886
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Moved this here from the Betfair down thread to avoid any unneccesary heart attacks.Archangel wrote: ↑Sun May 26, 2019 11:29 amYou would imagine there is some sort of symbiotic relationship between the Exchange and the Sportsbook from Betfairs point of view. I (am guessing) but they surely use the Exchange the hedge off their SB liabilities and because they won the exchange they can front run the market. So what I am trying to say is that they need the exchange imo
They don't need it for that. Might use it on occassion, but need no. If all of the several hundred bookies in the market place used the exchange for that, there'd be some serious liquidity.
With the overrounds they're running on 99% of their Sportsbook markets, they'd need to be seriously asleep at the wheel for it to be anything other than an automatic and huge cash cow as long they keep average joe punters coming through the proverbial door.
Its surprising how many on-course bookies do rely on itKafkaesque wrote: ↑Sun May 26, 2019 12:42 pmMoved this here from the Betfair down thread to avoid any unneccesary heart attacks.Archangel wrote: ↑Sun May 26, 2019 11:29 amYou would imagine there is some sort of symbiotic relationship between the Exchange and the Sportsbook from Betfairs point of view. I (am guessing) but they surely use the Exchange the hedge off their SB liabilities and because they won the exchange they can front run the market. So what I am trying to say is that they need the exchange imo
They don't need it for that. Might use it on occassion, but need no. If all of the several hundred bookies in the market place used the exchange for that, there'd be some serious liquidity.
With the overrounds they're running on 99% of their Sportsbook markets, they'd need to be seriously asleep at the wheel for it to be anything other than an automatic and huge cash cow as long they keep average joe punters coming through the proverbial door.
https://www.racingpost.com/news/betfair ... ers/381646
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Crazyskier
- Posts: 1167
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It is possible to connect the SP odds from Sky to a spreadsheet that also contains the odds from the BA Excel template making it possible to see the changes on each and how they "appear" to be in an offset or delayed synch creating what looks like a bit of predictability.
SP fractional odds can be factored to another value akin to a BSP value to act as the interface between the 2 odds types.
SP fractional odds can be factored to another value akin to a BSP value to act as the interface between the 2 odds types.
Unfortunately geniune posts get removed also which is unfortunate
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stueytrader
- Posts: 863
- Joined: Tue Dec 15, 2015 6:47 pm
Does raise yet another viability problem for traders in general though, whatever the finer points, as the situation currently stands.
Even many winning traders only make a small % of profit from turnover. Yet when outage happens 100% of maximum staking can be lost in moments.
That's a lot of 'grinding' to just get back to even again.
Even many winning traders only make a small % of profit from turnover. Yet when outage happens 100% of maximum staking can be lost in moments.
That's a lot of 'grinding' to just get back to even again.
Even if you hedge your liabilities on the Sportsbook with their shit prices or elsewhere it's far from ideal, because if your exchange "bet" wins then you'll pay much more in premium charge, that scenario happened to me 2 outages ago which was more annoying than the outage. Everyone needs to accept that this is part of trading for now and stake sensibly and accordingly. That means if I use most of my bank for prematch footy trades like I usually do, I need to have another bank on Betdaq to bail me out, otherwise it's only a matter of time before it gets wiped out. Inplay football is more dangerous than ever, I definitely had to change my approach there after a lucky narrow escape. On the plus side, at least in football all bets should stand so it's easier to hedge out.
Hopefully things improve with time, they definitely need to do more maintenance, preferably just before the weekend. It may be an unpopular opinion but at this point if someone heavily gets caught out whilst trading it's probably their own fault more so than Betfairs.
Hopefully things improve with time, they definitely need to do more maintenance, preferably just before the weekend. It may be an unpopular opinion but at this point if someone heavily gets caught out whilst trading it's probably their own fault more so than Betfairs.
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stueytrader
- Posts: 863
- Joined: Tue Dec 15, 2015 6:47 pm
Having two banks (one to use as safeguard) with one in another exchange sounds like the logical solution, though there are practical issues with that too.
Not everyone wants to have large amounts in different accounts, and limits on deposits are also needed for security.
Other issue is for those who trade with large greens (i.e. at high prices) - to cover that liability in another exchange could take a massive bank, likely not feasible at times in trading.
Then there is always the problem that one exchange decides to suddenly void a market (like the famous case).
In short, it's difficult to create a full-proof security backup system for outages.
Not everyone wants to have large amounts in different accounts, and limits on deposits are also needed for security.
Other issue is for those who trade with large greens (i.e. at high prices) - to cover that liability in another exchange could take a massive bank, likely not feasible at times in trading.
Then there is always the problem that one exchange decides to suddenly void a market (like the famous case).
In short, it's difficult to create a full-proof security backup system for outages.