BETDAQ API Commission Scheme changes from March 1st

[Betdaq]

Hello BetAngel Users,

The reason for this post is to inform you that we have been studying the impact on our product and on our business of the activities of API users. We have noticed over the past year the increasing influence of such users who take offers made by other users while rarely making offers for other users to take. This has the impact of reducing the available liquidity for normal retail users.
Following this review, we have decided to change the way in which we charge commission to customers using the Betdaq API.

This scheme is currently on a voluntary opt in basis for any Bet Angel users, unless already contacted.

From March 1st 2011 we will introduce a new commission structure that will operate for API users as follows:
BETDAQ will operate a scalable commission structure whereby the greater the proportions of offers you make that are taken by others, the lower your rate will be. Commission will continue to be charged on your market winnings from any single market.
The standard commission rate is 5 per cent, but you will be able to bring that down to as low as 1 per cent depending on your activity Take/Make % over a rolling 7 weeks period.

How it Works

• 1.At the end of each week (0400 Hrs Monday) your Take/Make % over the previous seven weeks will be calculated and your commission rate will be updated on the scale shown below.
  2.New customers will automatically enter at the 3% rate.
  3.Users with no activity over a 7 week period will be deemed to be 100% Take for their next active week.

(MatchedStake/TotalForsideStake) = Backerstake when user is the backer or Layer of a selection.
(TakeMatchedStake/TotalForsidetakestake) = This is where a user takes an available bet from the site, rather than placing an offer onto the site.

N.B. “Rate” in the example below in any week i.e. (3.5% in Week 1**) is the rate that will be effective for all orders placed during the following week. In the example below therefore, in week 1 the customer would pay 3.00% and in week 2 would pay 3.5%

Additional information

• 1.Promotional commission offers are not available to API customers.
  2.All customers who wish to use Betdaq via an API must accept the new commission structure and the amended terms and conditions.
  3.GBE will add details to the Betdaq API program website in the near future on how you can calculate your Take/Make % using existing API calls
  4.GBE are also reviewing API call limits and profiles and a further update will follow in the near future

If you require any further clarification or information regarding how these changes will affect you please ensure to contact us at [email protected]


Kind regards.
BETDAQ API Team

[PeterLe]

Betdaq
Great to see your post.

If you have read the postings on this forum, you will see that there is an eagerness to move away from Betfair, who have a strangle hold on the market and a near monopoly of the day trader market...

The BetAngel Professional software product, is available in two formats; One for Betfair and One for Betdaq. The former has much more functionality and developed to a higher standard. In essence the Betfair version makes trading easier. The Betdaq variant by contrast has fallen behind. When we question BetAngel about this they say that it isnt worth extra development time/costs as it isnt utilised by their customer base as much - catch 22.

Could I therefore make a request to you to take back to the Betdaq business? To make this a real success (and it will be if you do it right), could someone from Betdaq start a dialogue with the Betangel team to assist with the costs to bring the Betdaq product to the same level as the Betfair variant? This will provide a level playing field for betdaq and with no Premium Charge tax will prove to be a winner all day long..

Good luck and strike whilst the iron is hot, we are all sick of the couldn't care less attitude that Betfair display.

regards
Peter

[mugsgame]

I love the fact that Betdaq have taken the time to come to us and explained something. At last a company that realises that communication with their customers is important.

I am desperate to dump Betfair, but need the liquidity in play to execute my preferred strategy. Hopefully this may help

[marqasa]

Well said Peter. BA, would it not be possible to in future offer BA for BF and BA for BD as a combined package paid for by the user, with development costs spread across the two?

[jat63]

Is there a way on the account section to work out what the make / take ratio is?

[Betdaq]

Is there a way on the account section to work out what the make / take ratio is?

Unfortunatly at this point in time it is not possible to see your make and take ratios from your account. We are looking to include this in a future release, but no official date has been set for this. Make and Take information is returned via our API for each bet in calls "TotalforsideMakestake" and "Totalforsidetakestake", for those who access the BETDAQ API directly.

Alterantively if you mail the [email protected] team you can request the required information for any period.

Kind Regards,
BETDAQ Team

[rogerpalmtree]

Jesus, I've gone straight in at 1.25% down from 4.75%! Slightly better than the 20% at BF. Unfortunately I still can't see this making much difference.

[andyfuller]

Does anyone know if this is still up and running? As mainly a market maker I thought it would make sense to switch to this com. structure.

What are peoples views/experiences of it?

TIA.

[mdvadn]

Haven't used it, but yes it is.

Here

[freddy]

Does anyone know if this is still up and running? As mainly a market maker I thought it would make sense to switch to this com. structure.

What are peoples views/experiences of it?

TIA.

It's very very good imo
Just email them and they will put you on it and tell you your currant make / take % is.

[andyfuller]

Sorry have heard from them and will post up later when I have a chance but my activity puts me on 1.25%

[andyfuller]

I emailed the API guys and heard back with the following:

"Your business for yesterday showed that you were a maker in the main with your offers for others to take @ 75.68% if this was consistent over the 7 week you would be on a rate of 1.25%. We will look to move you to this new scheme from tomorrow, where you will be able to benefit from your market making behaviour, this rate will then update every Wednesday based on the previous 7 weeks trading."

They gave this link for more info: http://www.betdaqaffiliates.com/affilia ... _info.html

Furthermore they said:

I can confirm that all users operating with trading software will be subject to the scalable commission charging from around 10th August 2011. Users wont be able to switch around but the vast majority of feedback is fully supportive of the fact that we address customer behaviour in (Making offers/Taking offers) rather than punishing customers who just happen to win!

Obviously I really like this as it rewards those that provide liquidity to an exchange but I worry about is if this is sustainable for them as 1.25% is pretty low and I think I could get that down to the minimum (1%) if I was trading as normal.

Something else I thought might be worth them thinking about is some kind of rebate system? This would separate them from Betfair and you often hear punters and people who lose saying they would like some kind of rebate. I can't say I have any experience of such schemes though. But would think in the long run they get the money back anyway.

I would think this is something that would appeal to punters and could give them a reason to move, which would help with fill rates which I feel are low at the moment. What do people think?