Betdaq as bookie

[doris_day]

I thought that Betdaq already had a bookmaking arm with Betchronicle but this morning I got an email from them introducing me to their new bookie called 1Bet (accessible from the BD site).

I simply do not see the point. They, like Betfair are an exchange, not a traditional bookmaker. I know Betfair are about to do the same thing but I can only see a downside for both these concepts. I just don't understand it. In Betfair's case, the move is greed. Nothing more. They have proved their exchange model is workable and sustainable financially, generating a healthy profit. But like so many companies before them, they want to make more, grow faster, become world leaders and take over the universe. These delusions of grandeur often preceed a great fall.

My own feeling is that the 'new' economy has to understand that companies are not just money generators but a much more fundamental part of a society and a lot more to do with creating an environment for people to interact, learn and grow as individuals. The 'old' economic model has already been shown to be flawed and whilst I don't want to become too philosophical about things, my own belief is that Betfair is being run by an 'old' fashioned management who don't seem to understand a successful model when its staring them in the face. David Yu and all his cronnies should have been kicked out long ago, and whilst he may be a nice guy, he hasn't the faintest idea of what Betfair is or what is best for it in the future.

And it seems Betdaq may be headed the same way using copycat tactics.

[Triggerhappy]

I agree with your points, DD. So sad to see the direction BF has taken. From the greatest thing ever to just another hated bookmaking company in a few short steps.

What frustrates me with Betdaq is their possible lack of ambition. They dont seem overly keen to challenge BF despite the penalty kicks being handed to them with the PC, outages etc.

I heard they are looking at possibly floating too?

I really hope Betfair's bookmkaing ambitions prove a total disaster but is it possible their market makers (the PC payers they call vermin) have attracted so many "mugs" (for want of a better word) that it might actually work?

[robm232]

Hi Doris, I spoke to a betdaq guy recently about this he said it was simply to provide an easy way for punters who are migrating from traditional bookies to get a bet on with "new" sports exchange. I think we sometimes forget that for most people who arrive at a sports exchange site for the first time it can be a little daunting...I wouldn't worry about betdaq "turning" into betfair as betdaq's model is to partner with established players around the world and furnish them with their exchange platform. The benefit to us as normal retail punters is that all of these licensed platforms, whether they are being used by bookies as a pricing and book management tool or as an actual sports exchange, it that all the liquidity flows into one large pool. The more liquidity the tighter the spreads for all the betdaq punters. As for BF I don't really know what their plan is...world domination at any cost maybe?!?!

[doris_day]

robm, I would disagree that all the money goes into one large pool because it doesn't. Betfair and Betdaq's exchanges are separate markets from the bookmaker's part and although they are related, they are not the same thing. Therefore the available money is being spread around more thinly as punters have a greater choice. Its my opinion that both Betdaq and Betfair would be better off offering the exchange model and nothing more. We all know the model works and there really is no need to deviate from it.

[osknows]

Doris, I didn't think things were that bad for you? Link

[doris_day]

Well things are tougher than ever and mainly because of poor liquidity.

But I'm always looking for other opportunities because I appreciate nothing ever stays the same. It just pisses me off that the Betfair management are tempting fate and could chuck out the baby with the bathwater.

Because I've been with Betfair since day one and think the model is great I take it personally when a nutter like David Yu screws around with things.

Still, I'm looking forward to the start of the Hong Kong racing season which is less than a month away !! I've designed a algorithm which is looking good and which is based on solid logic. The markets I'll be working with have pools in the millions and often tens of millions, so liquidity is not a problem.

[mak]

doris can you elaborate please?
when you say algorithm are you talking about a software like BA and a market like BF ( don't think so) but I am asking...

[doris_day]

The 'algorithm' is basically a system which I first considered as a possible winning one, which I then tested by getting together a great deal of historic data and then after I created the algo in Excel by walking it forward.
I'm now coding it as an app.

[mak]

thanks doris!