WSEX live trading

koko · 12-18-06, 05:24 PM

Originally posted by Korchnoi

I went to sell two Chargers to cover at 93 yesterday towards the end of the game. I got filled immediately at 95 (props to WSEX). 93 was about the mid market for where tradesports was trading.

Does anyone trade these two sites off each other in real-time? Are you able to be quick enough. I assume if I wanted to pay 95 and the mkt moved to 92-97 in the interim, I simply wouldn't receive a fill.

This can be done, but it may not be as easy as you think.

First, you have to keep in mind that Tradesports has a 2% (I think) vig that isn't factored into the contract price.

While you can see liquidity at Tradesports, you can't see it at WSEX. So, when you try to trade on the WSEX side you never know how many contract you'll be able to get.

Plus, WSEX freezes trading while a play is happening. So, theres a great chance that you can get locked out when trying to trade at WSEX. This can be a big deal, because what happens on that play can greatly affect the price of the contracts when WSEX unfreezes trading.

It has been awhile since I traded at tradesports, but IIRC, they deal in $10 contracts while WSEX deals in $100 contract. This doesn't sound like a big deal, but, mistakes can happen, since you'll need to be fast. If a mistake does happen (i.e. buy 4 contracts and sell 4, instead of 4 and 40), is can be quite costly.

Korchnoi · 12-18-06, 05:35 PM

No, I definitely didn't mean to say it would be easy. Just wondering if anyone else has tried. I think you'd need to just look for value and take it, as arbing would be pretty tough. For some reason, I think the TS market would be better than WSEX although that's just my hunch.

BTW, comissions on TS are more like 1% (a buy/sell mkt order is .05/$10 contract). Plus, If you make the mkt, you don't pay that transaction fee.

Sam Odom · 12-18-06, 05:52 PM

Must be Sharp or just Lucky to play and WIN in-game contracts. NEWBIEs STAY AWAY

.

Korchnoi · 12-18-06, 09:33 PM

Very true. Unless the bet is close to even money, you give a ton away with the 5% wide mkts.

jjgold · 12-19-06, 07:22 AM

I like tradesports better for live trading, it is gradually getting bigger and bigger

Tchocky · 12-19-06, 10:58 AM

Considered yourself lucky by geting a better price. WSEX pauses trading at their discretion...this is not a true market. Can you imagine NASDAQ halting trading whenever they felt like it? WSEX live betting went down during the course of 2 games last week. Their spreads are still way too big.

Korchnoi · 12-19-06, 11:08 AM

Originally posted by Tchocky

Considered yourself lucky by geting a better price. WSEX pauses trading at their discretion...this is not a true market. Can you imagine NASDAQ halting trading whenever they felt like it? WSEX live betting went down during the course of 2 games last week. Their spreads are still way too big.

In fairness the NASDAQ does sometimes halt trading in stocks when material information is pending. So do the other exchanges for that matter.

Just becaues the mkt is frequently paused, doesn't mean there are no opportunities to trade when it isn't paused. Profitable trades are proftiable even if they pause the mkt for the rest of the game. There are plenty of other places to get live liquidity too (pinny and ts are a couple of the good ones).

jjgold · 12-19-06, 11:34 AM

Only true live betting is tradesports or betfair

the rest play games with prices to make money including wsex

Korchnoi · 12-19-06, 11:54 AM

of course market making is a game to make money. I think WSEX pauses the market so they don't get picked off, not so they can hold onto their positions which they think will increase in value.