[Border Gadgie]

Monday, 16th March 2015

WBX will close its betting exchange ("The Exchange") effective 17:00 (GMT) on 16/03/15. Although betting will be suspended, Members will still be able to log in to withdraw their funds and to see their balances and unsettled bets. WBXMail will also remain operational. All long-term markets will be settled in the normal way, when results are known. Our Member Services Team will continue to provide support and are available from Monday - Friday, 0900 - 1700 GMT.


A note from the CEO, Malcolm Gray:

To our loyal members and affiliates,

I have always taken a long view with WBX and believed that we'd become a genuine alternative to Betfair on the strengths of our great platform and commitment to putting every exchange player back in control. Unfortunately the business strategy is no longer viable due to the rising costs of regulatory compliance and levies in the United Kingdom, along with the increasingly prohibitive stance of various betting jurisdictions.

Though I am of course disappointed that WBX is closing, I am proud of my team and the fairness in which the exchange has operated for almost 10 years. Please rest assured that WBX will continue to service its Members and affiliates in the same spirit during the wind-down period.

Thank you for your support.

http://www.wbx.com/

[jjgold]

Most exchanges fail

no demand

[Hareeba!]

Most exchanges fail

no demand

No demand?
Really?
I suggest you take a look at Betfair's matched bet volume during play in the forthcoming cricket world cup games.
Or for that matter any of the top league soccer games. And tennis.

[Optional]

I think Betfair demand in Australia has been driven by lots and lots of marketing, bonus offers and training courses. They really have had to drag punters into the exchange philosophy. Once they get us in most people love it but there really is an education barrier that stops regular punters taking it up on mass.

And even Betfair hasn't proven to be the money printing machine we all imagined it was for a long time.

[jjgold]

Of course betfair

everyone else has FAILED

Matchbook is around but extreme slow growth over the last 5 years and not really an exchange like Betfair

[kkkkk]

betfair liquidity on most sport failed big and mainly there are bots you can bet against, but almost nobody bet on their big spreads, mainly when game is almost finished people bet on 1.01-1.03 odds and that makes 90% of inplay volume. much less liquidity have sports like volleyball, basketball, hockey and smaller soccer leagues. but thats a trend since 4 years when major countries were banned from betfair. only sports where you have volume are soccer, horse races and tennis. and there are cortsiders who take all the money, so basically betfair became no customer friendly place. and thus betfairs profit raised to new levels this year. and i wonder why? less volume, less customers and more profit. it cant be only the sportsbook as there are many sportsbook around. i guess betfair takes all the sweet money every market, am i right|?

[jjgold]

Betfair is best just for tennis, horses in UK only and UK soccer

[Hareeba!]

Betfair is best just for tennis, horses in UK only and UK soccer

Good grief!
Is there no end to your tripe?
Please take a look at today's cricket game between Australia and Pakistan to broaden your education a touch.
And for Aussie horses too and also golf, Betfair is the best.

[shaunovery]

Betfair still the best

Even for greyhounds they match at least 10k per race

[Optional]

Betfair best for Formula 1 too

[Scorpion]

betfair doesnt have xml line feed and you have to pay for their API so fuk it

[bilbaobaggins]

Of course betfair

everyone else has FAILED

Matchbook is around but extreme slow growth over the last 5 years and not really an exchange like Betfair

Matchbook has extremely low commission, so growth on a business level will almost certainly be slow. Although when you say everyone else has failed, who do you mean exactly? I don't know of every exchange that has ever been around, but the ones I know of are still in operation and pretty much getting stronger as most of them offer lower commissions and no premium charge. There is still:

*Matchbook
*Betdaq
*Smarkets (increasingly gaining more popularity )
*Ladbrokes exchange (separate to betdaq)

I'm sure there have been others that have been around and failed, but not heard of any in the UK.

[bilbaobaggins]

betfair liquidity on most sport failed big and mainly there are bots you can bet against, but almost nobody bet on their big spreads, mainly when game is almost finished people bet on 1.01-1.03 odds and that makes 90% of inplay volume. much less liquidity have sports like volleyball, basketball, hockey and smaller soccer leagues. but thats a trend since 4 years when major countries were banned from betfair. only sports where you have volume are soccer, horse races and tennis. and there are cortsiders who take all the money, so basically betfair became no customer friendly place. and thus betfairs profit raised to new levels this year. and i wonder why? less volume, less customers and more profit. it cant be only the sportsbook as there are many sportsbook around. i guess betfair takes all the sweet money every market, am i right|?

You're right in the fact that by restricting countries there is less liquidity in certain sporting markets. For example UK bettors aren't going to be interested in US college football. Less interest = less liquidity.

However I don't see how you come to the conclusion that less volume and less customers = more profit. Betfair exchange takes commission on winning profits through the matched stakes, so less volume will obviously mean less profits

[tommygun]

betfair #1 people.

[Foxx]

However I don't see how you come to the conclusion that less volume and less customers = more profit. Betfair exchange takes commission on winning profits through the matched stakes, so less volume will obviously mean less profits

He was suggesting that the way Betfair has been able to increase profits in the face of declining liquidity and volume is by actively trading in their own markets and taking advantage of their position to cherry pick offers before they become available to the public.

[Hareeba!]

Australia v Pakistan match only just into second innings and already >$75M AUD matched

[bilbaobaggins]

He was suggesting that the way Betfair has been able to increase profits in the face of declining liquidity and volume is by actively trading in their own markets and taking advantage of their position to cherry pick offers before they become available to the public.

Wouldn't that be illegal in a similar way a financial trader has inside information on a possible takeover or collapse of a company.

Perhaps they lay off / trade bets taken on the sportsbook, but I'm sure if they were just to have professional traders actively trading on the exchange only would have certain complications

[Foxx]

Wouldn't that be illegal in a similar way a financial trader has inside information on a possible takeover or collapse of a company.

Perhaps they lay off / trade bets taken on the sportsbook, but I'm sure if they were just to have professional traders actively trading on the exchange only would have certain complications

It's not against any regulations that I am aware of for Betfair to participate in their own markets. Since there is no doubt that they could profit immensely by doing so, there should be no doubt they doing it.

[Hareeba!]

Most exchanges fail

no demand

Really?

151 million AUD matched on WC semi-final between NZ and South Africa

And if you think that's massive just wait for tomorrow's India v Australia game in Sydney!

[kkkkk]

dont get me wrong but on betfair pregame volume varies from 5 to max 30% of total matched volume( well in few sports it might be even 100% where is less liquidity). so this volume you mention is mainly traded. so this 150 mln doesnt say much

[Hareeba!]

dont get me wrong but on betfair pregame volume varies from 5 to max 30% of total matched volume( well in few sports it might be even 100% where is less liquidity). so this volume you mention is mainly traded. so this 150 mln doesnt say much

Generally you can halve the quoted matched volume as both the backer's and layer's stakes are added to produce that number. And of course with in play trading in particular it doesn't mean players have actually risked that amount.

Nevertheless it was a world record for an event on the exchange so Betfair is claiming.
I'm willing to bet that tomorrow's game will create yet a new record if it is anywhere near as tight a game as yesterday's.

[Optional]

Generally you can halve the quoted matched volume as both the backer's and layer's stakes are added to produce that number. And of course with in play trading in particular it doesn't mean players have actually risked that amount.

They actually report 2x the Back amount matched on the market as the volume.

[Hareeba!]

Generally you can halve the quoted matched volume as both the backer's and layer's stakes are added to produce that number. And of course with in play trading in particular it doesn't mean players have actually risked that amount.

Nevertheless it was a world record for an event on the exchange so Betfair is claiming.
I'm willing to bet that tomorrow's game will create yet a new record if it is anywhere near as tight a game as yesterday's.

Well there you are! A new world record. Over $168M matched despite India not being able to force a tight finish.

Bring on Sunday's final NZ v Australia!
Every chance of topping $200m matched on that one.
Aussie Aussie Aussie!
Oi! Oi! Oi!

[jjgold]

Betfair for the most part is not a pre match betting exchange

Matchbook is though

[shaunovery]

Betfair for the most part is not a pre match betting exchange

Matchbook is though

Sorry I don't agree

Soccer as you Americans call it always over a million mTched before kickoff As for most sporting events always high figures matched