11/18/2008 01:31 PM
Tradesports (SBR rating C+) to close Friday, November 28thThe betting exchange cites difficulties with transferring funds, which impacts trading volume, as motivation for the decision. Unlike a sportsbook that can follow general markets to offer wagers,
Tradesports relied on person to person activity similar to a pokerroom in order to offer a quality product.
We underestimated the difficulties that current and new customers would
experience in funding accounts and partly as a result of this we have
reluctantly decided to close Tradesports. While we are not hopeful that
funding issues may dissipate soon, should they Tradesports will be back
and it is therefore an imperative for us to effect and orderly and
goodwill preserving closure for you all.
7/6/2007 05:59 PM
Tradesports (SBR rating C+) again changes fee schedule and agrees not to apply the 4% fee to contracts that were in place as of July 27th, when the new fees were instituted.
Tradesports states it will issue refunds for the amount that exceeds the would-be cost of the previous price format. Some bettors who planned to trade out of their position are still upset that they are facing increased pricing and believe they should be grandfathered until the event is concluded. However,
Tradesports warns players that fees may change and advises
"only trade a contract if you are willing to hold that position until expiry."
7/1/2007 11:28 PM
Tradesports (SBR rating C+) now telling players the new 4% profit tax fee will be applied retroactively. Multiple players have complained that they priced events based on the previous fee structure and to change the fee on established contracts would essentially change their wager after it was placed.
Tradesports users complained about
similar actions by the exchange in November of last year.
Player: It keeps getting worse. First they were saying that the new fees would apply to newly listed contracts after the effective date. Then they said that trading out of a previous position at a profit would incur the new fees, but that letting an old position expire would only incur the fee in effect at the time the position was taken.
Now they are saying that all expirations and closing trades, no matter when the position was taken, will incur the 4% fee. Even the slimiest of sportsbooks out there tend not to change rules, fees and payouts retroactively. Can you please try to reason with Tradesports to stop this insanity? Their fee change could be a good thing, but casually reducing the value of existing positions is outright theft.
6/26/2007 06:28 PM
SBR’s Sportsbook Betting Rules Monitor LivePlayers can view all Betting Rules and Terms of Service archives
here. The majority of rules were first scanned on June 18th 2007 with changes being logged since. Sportsbooks and players who would like to see additional web pages monitored can submit the URL of the rules or FAQ to
Assistance@SportsbookReview.com. Below are the week #1 rule changes as logged by SBR. Removed text is shown striked out in red. Added text is highlighted in yellow. Players are encouraged to ask their sportsbook to inform clients of each rule change via email.
BetBull (SBR rating C-) changes tennis wagering ruleWagers will now be cancelled in the event of a change of venue or playing surface.
BetInternet (SBR rating B-) changes maximum allowed daily payoutsAll minor league soccer and horse racing has a maximum
£75,000 daily winnings allowed. This includes the player’s stake
Tradesports (SBR rating C+) changes fee structure
Tradesports removes text regarding exchange fees and notifies players that fee structure may change at the company’s discretion (
See Tradesports Press Release).
Sportbet (SBR rating B) and
IslandCasino (SBR rating B) adds text regarding residing in
Costa Rica.
6/22/2007 04:54 PM
Tradesports (SBR rating C+) changes to more player-friendly fee structure
11/5/2006 11:52 PM
Tradesports (SBR rating C+) sellers complain of retroactive fee increases. Some sellers of political contracts on
Tradesports.com will see their profits erased. The exchange-style sportsbook has applied its new fee structure on future markets that are already in play. Traders contend that this is the equivalent of a sportsbook altering the payout of a wager after it was accepted.
Tradesports has received two straight downgrades from B- to C+ due to costly errors in setting predicition markets and complaints regarding the new fee structure. SBR expects additional complaints once political contracts are settled.
9/7/2006 05:36 PM
SBR mailbag: Players complain Tradesports (SBR rating C+) increases fees. Bettors are rightfully upset that the higher prices are set to apply to wager contracts that were placed under the original fee structure.
Player:
They are retroactively raising fees on positions people hold in long-term non-sports events, such as the 2008 elections (about 500,000 contracts traded there before the announced fee change), current-events contracts, legal contracts, etc.
8/4/2006 07:14 PM
SBR Bill Dozer reports: Tradesports (SBR rating C+) botched contract decision results in downgrade from B- to C+. The exchange-style sportsbook attracts many players with its prediction markets, known as ’prop bets’ at other sportsbooks. It has not graded wagers
according to contract stipulations and has failed to use applicable
Tradesports prediction market rules. The latest trader complaint was received after an incorrect decision on a North Korea missile contract. Details of the dispute and SBR Josh West’s assessment can be found at
ChrisMasse.com.
7/16/2006 12:25 AM
TradeBetx (SBR rating B) incomplete rules lead to player losses The player bet that a boxer, J. Taylor "will not win the fight". The wording of the wager suggests that the bettor will win the wager if the opposing fighter wins or if there is a draw. The bettor confirmed prior to the match by email, that a draw would indeed result in a winning ticket.
TradebetX has voided the winning bet that would have delivered over $2,000.
Exchange Manager: "Again I apologise that you were originally misinformed about our boxing rules on Friday. The rules that you quoted were incomplete and so in a case like this the Exchange determines what is the fairest solution to all our members and in this case, voiding the bets was the most appropriate course of action. I do appreciate that you were misinformed originally and so as a gesture of goodwill I have added a credit of $50 to your account."
Sister trading site,
Tradesports (SBR rating B), has also been the subject of recent wagering disputes. SBR will speak with management further and reevaluate the
Trade Exchange Network.
4/24/2005 09:20 PM
Frequently asked question by players: Which sportsbooks offer in-game live wagering? Few bookmakers offer this betting option because of the challenges of balancing action on the quickly moving
odds. Sportsbooks that offer in-game wagering include:
•
Bet365.com (SBR rating A+)
•
WSEX.com (SBR rating A)
•
Tradesports.com (SBR rating B)
•
PinnacleSports.com (SBR rating A+) is also known to offer in-game wagering on mainstream events on occasion.
7/31/2003 12:34 PM
Tradesports makes its first appearance on the
Recommeded List
8/4/2006 08:10 PM
Tradesports &
TradeBetx downgraded from B- to C+
7/16/2006 11:53 PM
Tradesports & TradeBetx downgraded from B to B-