Oggy Posted June 9, 2009 Share Posted June 9, 2009 Hi, everyone. I am doing a Research Project at University about Betfair. I was wondering if you could answer me these three simple questions. 1. What do you see as the advantages of Betfair? 2. What do you see as the disadvantages of Betfair? 3.Do you think a Sports Betting social networking website, where you could bet amongst each other, such as a mix between Facebook and Betfair would work? Thanks for your time. Quote Link to comment Share on other sites More sharing options...
MetallicIan Posted June 9, 2009 Share Posted June 9, 2009 Re: Few betfair questions Hi, everyone. I am doing a Research Project at University about Betfair. I was wondering if you could answer me these three simple questions. 1. What do you see as the advantages of Betfair? 2. What do you see as the disadvantages of Betfair? 3.Do you think a Sports Betting social networking website, where you could bet amongst each other, such as a mix between Facebook and Betfair would work? Thanks for your time. In answer to Q.1 Generally better Odds than traditional bookies even taking into account their commission charges, with no chance of being refused a bet and the only limit to stakes being the available liquidity. Quote Link to comment Share on other sites More sharing options...
billy the punter Posted June 9, 2009 Share Posted June 9, 2009 Re: Few betfair questions Hi, everyone. I am doing a Research Project at University about Betfair. I was wondering if you could answer me these three simple questions. 1. What do you see as the advantages of Betfair? 2. What do you see as the disadvantages of Betfair? 3.Do you think a Sports Betting social networking website, where you could bet amongst each other, such as a mix between Facebook and Betfair would work? Thanks for your time. 1. a) Layers accommodate faceless backers - this leads to two major advantages; bets will never be refused, and amounts are never restricted. b) The opportunity to lay. c) The opportunity to play in-running. 2. a) Lack of early morning liquidity can lead to poor value when compared to some early birds. It's quite hard to get decent amounts on at prices that are available with some bookmakers. It's accommodated for small money, the cat is out the bag and you're stuffed. b) Lack of liquity for big priced horses, at times. 3. Not sure, depends on what level you would want it to work. To get anywhere you would need massive liquidity, something that rival sites have struggled with over the years. Quote Link to comment Share on other sites More sharing options...
BillyHills Posted June 9, 2009 Share Posted June 9, 2009 Re: Few betfair questions 1. What do you see as the advantages of >Betfair? To me the advantages are obviously the strength in the market which allows a more accurate picture as far the odds are concerned. With a traditional bookie you never know the amount of money (if any) has caused movement in the prices. Betfair is fairly transparent. Also the facility to lay horses is an advantage too. 2. What do you see as the disadvantages of >Betfair? Cant really see many, on the bigger picture i suppose it does increase the probability of corruption, laying horses is a fairly new thing to the average punter although it did go one before but on a much smaller scale. 3.Do you think a Sports Betting social networking website, where you could bet amongst each other, such as a mix between Facebook and >Betfair would work? It might work but I dont agree with the idea at all, you only have to look at the Betfair forum to see how things can quickly turn into an argument. Actually getting to know these people and then probably trying to win money off them or vice versa is not healthy. BH Quote Link to comment Share on other sites More sharing options...
jonny9dy Posted June 10, 2009 Share Posted June 10, 2009 Re: Few betfair questions Downside - On course bookmakers now only trade which causes a false SP. As bookmakers can lay off most of the bets they take they no longer have to shorten the price of a fancied horse until the price on Betfair collapses and they can no longer lay off. Upside of this I suppose is most on course bookies will probably lay other horses to balance their books which adds to liquidty. www.spamtips.com Quote Link to comment Share on other sites More sharing options...
fintron Posted June 10, 2009 Share Posted June 10, 2009 Re: Few betfair questions Hi, everyone. I am doing a Research Project at University about Betfair. I was wondering if you could answer me these three simple questions. 1. What do you see as the advantages of Betfair? 2. What do you see as the disadvantages of Betfair? 3.Do you think a Sports Betting social networking website, where you could bet amongst each other, such as a mix between Facebook and Betfair would work? Thanks for your time. Advantages - 1) being able to take better prices on offer than with any bookie the vast majority of the time. 2) Getting paid out on the original number of places, even if there are NR's. e.g if 8 were declared and 1 horse pulls out Betfair still pay three places for the place as opposed to bookies that would only pay two. 3) The option to lay off bets, allowing trading opportunities. Disadvantages - allows an easy way for bent jockeys trainers and owners to make money. social betting site - this would depends on the number of members really. If there aren't many members signed up to start off with then with poor liquidity a punter would probably stick to Betfair, as they are looking for the best price available at all times. Quote Link to comment Share on other sites More sharing options...
Norfolk Enchance Posted June 10, 2009 Share Posted June 10, 2009 Re: Few betfair questions 1. Increased choice of where to bet/sometimes they are best market price for what I want to bet on. Option to trade as well as traditional betting (position taking). No restrictions, other than the liquidity available. 2. They are far too dominant in the exchange market enabling them to charge an excessive amount of commission. Insider trading. 3. In theory it would ‘work’, but not sure how successful it would be. Quote Link to comment Share on other sites More sharing options...
skinnyman9000 Posted June 11, 2009 Share Posted June 11, 2009 Re: Few betfair questions Advantages: The ability to lay Transparency In play betting Disadvantages: Horse and dog laying not really useful beyond the top 2/3 selections, after this you can end up laying at double the SP. With horse racing there are better options out there, if backing the favoured horses. Like bet365 had BOG, so if you wake up and your horse is 2/1 on bet365 and betfair, and then drifts out to an SP of 3/1 then you'd get the higher SP with 365, but betfair would still pay at the 2/1. I did used to bum the exchanges, but now im beginning to learn when and where to use them. Also, for anything other than single bets you're betting off using traditional book makers. There's enough of them now, and odds comparison sites, that its often very easy to get better odd than the exchanges Quote Link to comment Share on other sites More sharing options...
alexmac Posted June 11, 2009 Share Posted June 11, 2009 Re: Few betfair questions This isn't a very sound way of collecting data mate..... How you going to reference it etc....? Quote Link to comment Share on other sites More sharing options...
Cassius Marcellus Posted June 12, 2009 Share Posted June 12, 2009 Re: Few betfair questions Hi, everyone. I am doing a Research Project at University about Betfair. I was wondering if you could answer me these three simple questions. 1. What do you see as the advantages of Betfair? 2. What do you see as the disadvantages of Betfair? 3.Do you think a Sports Betting social networking website, where you could bet amongst each other, such as a mix between Facebook and Betfair would work? Thanks for your time. 1. I'm assuming that you don't bet, so the major difference is that when you go into the bookies and place your bet, it either wins or loses, and you do the same. On Betfair, if you have a big enough bank, you could have a tenner on a 5/1 chance and see two furlongs out that it isn't going to win. You may get lucky and find somebody who wants to back it at 50/1 as he has layed it at a much shorter price, so you get your tenner back, but if it's not going to win, you won't care much about 'risking' £500. In the bookies your tenner is theirs the second the jockey starts to push and use his whip. On Betfair, small market fluctuations with a big stake can get you a pre-race profit, or a free bet, by trading, before the race itself gets under way. If you take 7/4 in a bookies and it goes 11/10, you can't trade out to make the bet free, as with any other bet you either win or lose. 2. As opposed to parting with cash in your pocket at a bookies, on Betfair (or anywhere online) you can commit the cardinal sin of chasing losses if you have credit or debit cards. Lots of people say they don't, never have and wouldn't do it, but I've seen many marrages ruined and businesses bankrupted due to betting in excess of your income or savings. The latest to go this way, if the rumour is true, is the manager of a pub in Newmarket, who thought the horse he picked at odds on was a cert, so he stuck £13k on it. It was beaten. 3. Don't you think there are enough lunatics on Betfair fora without half the world joining in? :loon And for that reason, I'm out. :ok Quote Link to comment Share on other sites More sharing options...
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