Of additional controversy is the fact the Smarkets management wanted to know what models I was using, presumably so that they could employ them on behalf of their market makers. As if I would hand over 7 years worth of work for nothing!
Exchanges should never interfere with their own markets, and ideally market pricing should be of no concern to Smarkets management. They should be happy to sit back and reap commission regardless of outcome. How market makers and traders price is entirely up to them and should be of no concern to management.
The current strategy is quite flawed IMO.
Smarkets begins closing successful accounts
Bit of a blood bath for me on Betfair today. The irony is that I would have placed all my bets on Smarkets at 2% comm instead of 2.8% at Betfair (I don't pay the premium charge) if they hadn't closed my account (allegedly for threatening to complain to the LGA?) 
.
Does this make sense, even on an economic level to anyone else? Seriously why refuse a customer?? Especially a big one?? It's like i'm having to campaign for my right to give them my custom! They should be thankful that I even know of their brand given their lack of marketing spend, let alone wish to actually use their product.
One small crumb of comfort is the fact the the rest of the world unanimously agrees with me that this decision is beyond mental. Smarkets remain to be persuaded.
.Does this make sense, even on an economic level to anyone else? Seriously why refuse a customer?? Especially a big one?? It's like i'm having to campaign for my right to give them my custom! They should be thankful that I even know of their brand given their lack of marketing spend, let alone wish to actually use their product.
One small crumb of comfort is the fact the the rest of the world unanimously agrees with me that this decision is beyond mental. Smarkets remain to be persuaded.
Hi James,
Your account is suspended for reasons independent of your trading activity and will not be reopened
Best,
Jason
Last edited by james19 on Mon Dec 24, 2012 8:39 am, edited 1 time in total.
-£2966.87 total P&L on Betfair since December 10th when Smarkets decided they no longer wanted to take my action...
Imagine if Peter moved over to Smarkets and began smashing up their markets. They would surely have no choice but to exclude him within a matter days (using a convenient excuse of course).
Imagine if Peter moved over to Smarkets and began smashing up their markets. They would surely have no choice but to exclude him within a matter days (using a convenient excuse of course).
Last edited by james19 on Sun Feb 24, 2013 10:36 pm, edited 2 times in total.
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giulio2010
- Posts: 962
- Joined: Sun Sep 12, 2010 9:11 am
Hi James19, I think you should avoid american football!!james19 wrote:-£2966.87 total P&L on Betfair since December 10th when Smarkets decided they no longer wanted to take my action...
Imagine if Peter moved over to Smarkets and began smashing up their markets. They would surely have no choice but to exclude him within a matter days (using a convenient excuse of course, such as that Webb rhymes with Pleb and they thought it was some kind of fake account). Not saying that Peter is a pleb, he seems like a first class guy!
Without it, you would be in profit..I am impressed about your outstanding results in football...well done..
You strike me as a gambler first & foremost, those figures are insane. I assume you hammer into selections with a view to greening when you're happy with the profit available. You must have had a good run on Smarkets, but with these stake levels, it wouldn't take long to rip the underpants off their MM's
Another interesting thing i noticed at Smarkets was that if you place a largish bet (i.e. 4 figures) on a selection, sometimes all of the artificial liquidity in that market will vanish. On one occasion when I placed a largish bet (about £2000) the market liquidity went to £0 for the next 10 hours prior to kick off.
That only happened to me on 3 occasions all told, and i'm pretty sure that it was an Smarkets employee at the other end switching off liquidity because the exposure limit for that market had been reached, or they did'nt want to have to call the market makers the next day to report that they lost £5000 on last nights match.
Of course this means that if you enter a market with a view to trading a position, and then Smarkets all of a sudden switch off their supply of artificial liquidity, then you're option to trade out of a position is all but gone.
This again begs the question as to why they would seek to advertise their product on these forums. Funnily enough it was in this forum that I first heard about Smarkets. Maybe they should have stuck to advertising on Channel 5's Super Casino instead. Black 20 is a hot number, it's been out 3 of the last 36 spins
That only happened to me on 3 occasions all told, and i'm pretty sure that it was an Smarkets employee at the other end switching off liquidity because the exposure limit for that market had been reached, or they did'nt want to have to call the market makers the next day to report that they lost £5000 on last nights match.
Of course this means that if you enter a market with a view to trading a position, and then Smarkets all of a sudden switch off their supply of artificial liquidity, then you're option to trade out of a position is all but gone.
This again begs the question as to why they would seek to advertise their product on these forums. Funnily enough it was in this forum that I first heard about Smarkets. Maybe they should have stuck to advertising on Channel 5's Super Casino instead. Black 20 is a hot number, it's been out 3 of the last 36 spins
Last edited by james19 on Mon Dec 24, 2012 2:38 pm, edited 1 time in total.
While i'm on the subject of exposing flaws, I think there also might be a bug in their exchange which prevents getting matched at the best available price.
I'm sure that one time when i accidentally clicked the second highest back price available (2.56) I got filled at 2.56 instead of at 2.58 which was the best back price available in the market.
I'm sure that one time when i accidentally clicked the second highest back price available (2.56) I got filled at 2.56 instead of at 2.58 which was the best back price available in the market.
Well no Christmas Present from Smarkets this year. Their open and transparent free market model continues to treat me like a second class citizen / political decenter.
Maybe they will be more reasonable towards me in the new year.
Peace and best wishes to all!
Maybe they will be more reasonable towards me in the new year.
Peace and best wishes to all!
I just found this in Smarkets Betting Rules:
https://smarkets.com/betting-rules/
https://smarkets.com/betting-rules/
Nowhere does it say that I customer may be banned for life for complaining to the LGA, or for merely remarking that they MIGHT complain to the LGA.Customer Disputes
Customers should contact [email protected] if he or she feels that the Smarkets Betting Rules were not properly enforced. Any disputes will be dealt with in a prompt and professional manner. If Smarkets does not resolve the dispute to the customer's satisfaction, he or she should contact the LGA at [email protected].
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pdupre1961
- Posts: 410
- Joined: Fri Feb 18, 2011 8:01 pm
- Location: Morden, London
Having seen his account James19 is not a trader, but an arber, and he's using 'OddsTrawler Pro' to get his arbs.
Why would anybody place such amounts into obscure markets unless he was an arber or just completely mad.
I mean a gambler, off course.
Why would anybody place such amounts into obscure markets unless he was an arber or just completely mad.
I mean a gambler, off course.
Looking at that screen shot I'm convinced that James is an arber and picking off prices before smarkets can adjust.pdupre1961 wrote:Having seen his account James19 is not a trader, but an arber, and he's using 'OddsTrawler Pro' to get his arbs.
Why would anybody place such amounts into obscure markets unless he was an arber or just completely mad.
I mean a gambler, off course.
Interesting to see that despite all the publicity james has given the issue, not one other person has come forward to complain.
I suspect you're right matepdupre1961 wrote:Having seen his account James19 is not a trader, but an arber, and he's using 'OddsTrawler Pro' to get his arbs.
Why would anybody place such amounts into obscure markets unless he was an arber or just completely mad.
I mean a gambler, off course.
I arbed for a while, but it doesn't take long for the bookies to start closing accounts
If James is constantly churning out figures shown on that screenshot, that would explain why he doesn't pay BF PC