I thought Tradesports was an exchange similar to Betfair, Betdaq, Matchbook & Mansion but apparently I can't seem to understand what they are all about.
Can someone enlighten us newbies?
Can someone enlighten us newbies?
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Tradesports works with $10 contracts (where WSEX works with $100 contracts). Winning contracts expire at 100, losing contracts expire at 0. You can buy or sell. If you sell the favorite, you're buying the dog.
So if you buy one contract at 60, your risk is $6 and your potential profit $4 (not including trading fees).
If you buy 100 contracts at 43, your risk is 100x$4.30 = $430, and your potential profit $570.
During a game, if it is featured, you can buy and sell contracts many times, either to lock in on a profit or to minimize a loss. So the main advantage is in-game trading.
Plenty of scenarios. If you expect a dog can get a backdoor, you don't have to buy the team at (or near) 50 pregame, but can wait until the game is close to the end and pick it up for 5 or 10. Or if you think your favorite may allow a backdoor, you can sell at 90 or 95 before they let it slip away. There are many trading strategies, but just the one I mentioned here could save you a bundle.
Somewhat more advanced. If you know how to read body language during a NBA game, you can really start playing the flows within a game.Comment -
A possible problem with in-game trading is liquidity. Tradesports doesn't guarantee it, and recently market makers (those who are assigned to manage a game by putting up large numbers of contracts on both ends) have been known to get out of games before the final whistle, leaving traders stuck in mid air with contracts they had intended to trade. This damages trust and undermines the credibility of the exchange.
In my opinion Tradesports has been poorly managed. A few years ago the potential of this place looked limitless, but stubborn leadership and unreasonable interpretations of (non-sports) contracts have harmed its reputation.
SBR rating has dropped from - I think - B+ to C+.Comment -
They didn't cancel the wagers, the market makers just didn't put up offers late in the match. All wagers from earlier stood, but people got stuck with positions they may have wanted to trade and instead had to ride out.Comment -
I think wsex is much bettor for in game trading, also matchbook has featured live gamesComment -
I still don't get it and it does not seem worth the complexity to enter tradesports.Comment -
Tradepsorts is not bad but all these places lack volume
They are only good for big tv gamesComment -
Ooops, can't use them. They don't have moneybookers or click2pay? They practically limited their site by not offering these two. Just my opinion though.Comment -
Can a Tradesports expert clearly explain their current fee structure?Comment -
in running fees
.05 if you buy someone's asking price
no fee if you are the market maker.
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plus
.10 per share if you have the winning wager at expiry.
no fee if your wager loses at expiry.
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non in-running fees (before post)
no fees at all. At expiry or when you buy.
Hope this explains it. The only time you pay fees is live in-running.Comment
