Thinking about starting an exchange.

[lolottumwa]

Exchanges are complicated. I don't see many recreational bettors going for it IMO

I dont know. If you sell the idea that your playing against other people, but make it really simple on the site. (even a quick pick option), i think it could look even less intimidating than a -110 site.

Rec players dont really care about getting the best deal, just the site that rings a bell win they think of gambling. Think of Full Tiltfor poker, some of the largest rake in the biz and horrible CS, but its heavily advertised on major networks and cant count all the money theyre making.

but also have the betfair model as an option for players who know what theyre doing. a deeper portion of the site. (am i making sense)

cliffs.

make it simple. let them get on and click the team they want to win
advertise. advertise. advertise.
give sharps an option.

[JoeVig]

Matched: $0
Suspended Unmatched: $59600

Poor Betmaker, I think that says it all about them.

[BLACKIE]

For US sports maybe, for all others no.

Lots of good thoughts and ideas but I agree with this one. A market to trade NFL and NCAA futures and games only to start.

It would be no different then trading in various pits. Euro dollar traders in one pit. Options another. Commodity guys down the street. Why would we need to be a market for all sports? Why not focus on the one market with the most excitement and action?

[jjgold]

Something about Matchbook interface which makes it very un appealing. Also don't forget without credit accounts Matchbook is bankrupt or lucky to get $100 on a game.

[thespeculator]

Poor Betmaker, I think that says it all about them.

i was going to mention the same thing, betmaker seems to have a lot of offers, tens of thousands , but it will be matched at 500 or some cases 0, is it their commissions that people don't like

[Fishhead]

First off, all the Matchbook negative talk is by people that do not play there everyday.........MATCHBOOK IS GREAT!!

Secondly, DOUG may have made the most important recommendation in this entire thread with post #39, and that is a new exchange will have to do transfers with no less than 5 other quality offshore sportsbooks.

[BLACKIE]

More importantly then transfer is a common currency or processor to be used throughout the exchange. Also by staring an exchange with a football only pit and expanding additional sports we could get much more liquidity from the start. I know a lot of traders with a lot of money that would love to jump in on the weekends and make markets.

[Dark Horse]

Exchanges are the future. The missing element is one central market, where all the separate exchanges link into. Like the Dow. You don't want each exchange setting up its own Dow. You want them to all tap into the same Dow. That will solve the liquidity problem once and for all.

[noyb]

I know a lot of traders with a lot of money that would love to jump in on the weekends and make markets.

are these traders willing to offer better odds than the average book? and are they willing to risk continually getting picked off if odds move against them, and not matched otherwise? seeding markets is a losing proposition unless the exchange has enough size (enough "fish", how do you intend to get those fish?).

[noyb]

Exchanges are the future. The missing element is one central market, where all the separate exchanges link into. Like the Dow. You don't want each exchange setting up its own Dow. You want them to all tap into the same Dow. That will solve the liquidity problem once and for all.

from the perspective of the bettor you're probably right. fact is though such a central market is completely contrary to the interest of betfair, which basically is the central market right now on non-us sports. without the support of betfair such a central market would lack liquidity in the same way individual exchanges are lacking liquidity now.

[Fishhead]

One of the few things about MB that does bother me is their slowness in grading games at times...........which is a just silly and bad business for an exchange.

Blackie, if you start an exchange, hire competent people to grade the games accurately and fast.

[minet123]

Plus don't forget Breeders Cup day(s) for back and lay markets

[BLACKIE]

One of the few things about MB that does bother me is their slowness in grading games at times...........which is a just silly and bad business for an exchange.

Blackie, if you start an exchange, hire competent people to grade the games accurately and fast.

I don't think there would be any issues on that front as our management team would run the day to day with the same quality and efficiency of our current brands.

[trumpdown]

Lots of good thoughts and ideas but I agree with this one. A market to trade NFL and NCAA futures and games only to start.

I agree in that it would be wise to start in one market such as the one posted above, but this so happens to be one of the most liquid at Matchbook so it would be hard to defer my money and many others to move for American football. I suppose more prop options but this wouldn't sway the majority of $$ IMO.

On the other hand NCAA basketball along with NBA (besides play-offs) has been weak including Live in-play on every exchange. Perhaps this would be a niche to grow from.

[KingKolzig]

PLEASE DO PROPS. you can make your own props up with no risk

no other site would have it, and ppl would be talkign about it all the time on boards

[Chuck Sims]

Something about Matchbook interface which makes it very un appealing. Also don't forget without credit accounts Matchbook is bankrupt or lucky to get $100 on a game.

I offer 4 figures, sometimes five figures on MLB games. Best lines in the world at Matchbook. I am not on credit.

jjgold, your bald head is looking extremely square lately.

[katstale]

Makes sense to start football, baskets and baseball first. Transfer easily with Pinny? Bankwires?

[wrongturn]

If you can make it able to transfer to and from about 20 top books, with a reasonable fee, it will be a success just for this feature alone.

[BLACKIE]

Would you like to see a trading program built from the ground up or would an existing software application work? If so which software provides the best interface and options?

[Flying Dutchman]

Exchanges are the future. The missing element is one central market, where all the separate exchanges link into. Like the Dow. You don't want each exchange setting up its own Dow. You want them to all tap into the same Dow. That will solve the liquidity problem once and for all.

Agree 100%

[Fishhead]

I offer 4 figures, sometimes five figures on MLB games. Best lines in the world at Matchbook. I am not on credit.

jjgold, your bald head is looking extremely square lately.

JJ continues to downgrade MB and he doesn't even play there..............they also do not advertise here.

That's two strikes

Anyone on this forum not playing at Matchbook should just pack up their bags and move on to a LAWN and GARDEN forum, as they are wasting their time and money on this forum.

[Chuck Sims]

JJ continues to downgrade MB and he doesn't even play there..............they also do not advertise here.

That's two strikes

Anyone on this forum not playing at Matchbook should just pack up their bags and move on to a LAWN and GARDEN forum, as they are wasting their time and money on this forum.

[minet123]

Would you like to see a trading program built from the ground up or would an existing software application work? If so which software provides the best interface and options?

open a 25 GBP at both betfair and betdaq make back and lay wagers on both
it will be crystal clear it the first few days

[JoeVig]

Would you like to see a trading program built from the ground up or would an existing software application work? If so which software provides the best interface and options?

Try using BetOnline's new platform.

OK, bad joke there.

[Karayilan9]

Betsson could be a good model to look at, they started as a book, got successful and expanded to include an exchange aswell and opened a betting shop now in Sweden. There will need to be a large customer base a huge promotion campaign and alot of volume for it to get a new exchange off its feet.

[Toit]

Betsson could be a good model to look at, they started as a book, got successful and expanded to include an exchange aswell and opened a betting shop now in Sweden. There will need to be a large customer base a huge promotion campaign and alot of volume for it to get a new exchange off its feet.

There's less liquidity on the betsson exchange then there is on the Betdaq platform.
Hardly any liquidity at all.

[Kemalettin]

There's less liquidity on the betsson exchange then there is on the Betdaq platform.
Hardly any liquidity at all.

You right Betsson closing their exchange market in soon..

[HedgeHog]

I'm in. Come close to MB's commision and beat their weak liquidity, then you'll have a superior product. If you build it, we will come!

[Dark Horse]

Would you like to see a trading program built from the ground up or would an existing software application work? If so which software provides the best interface and options?

See if you can get hold of the old Tradesports platform. They still use something similar at Intrade, but TS was pretty smooth back in the day.

At TS players would buy contracts. Each contract expired at 0 or 100. You would buy it anywhere in between. One contract was worth $10, so if you bought a 100 contracts at 75, you would either make 250 or lose 750 (if you let it expire and didn't trade it before expiration). This 0-100 scale corresponds to winning expectation, in percentage, at any time during the game, so it made trading much more accessible than the odds offered at Matchbook. Trading is fast. You need to make lightning quick decisions. So you don't want to have to convert something like -535 into a corresponding percentage. In the few seconds it takes to do so, you may already be too late. Another thing that clutters up Matchbook is that they allow tiny offers, like a dollar, that prevent people from seeing beyond the third offer.

Matchbook is a poorly executed exchange. They don't even provide a page where you can monitor, and trade, all your outstanding (and matched) offers. You either have to have a bunch of tabs open or switch between pages. They took in a lot of business when Pinnacle left the US market, but they are by no means the standard bearer of how an exchange should be run. As soon as somebody else does it significantly better, for a US facing market, they're done.

I think Betphoenix is also working on an exchange format. They have the money to back it up, so before you jump in find out who you're up against.

Anyway, it would be much better if exchange people stuck their heads together to create one exchange, where people can trade from different books. The books still get their trading fees, but the exchange is centralized and belongs to all.

[tofuman]

its gonna take you some time to first have your developers write the software... well first you need to hire the developers if u haven't already

[Hareeba!]

Betfair will get a US licence one day and blow the rest away

[byronbb]

Yeah make it dumb-as-rock easy for someone to place a bet like a "simple mode" that mimics a regular sports book. Matchbook is designed badly and looks intimidating. I was wondering if market makers would like the size of their offers to be hidden? Why show the depth of the market? Maybe create a line based on the aggregated weight of the offers?

[Namechanger]

...

[Hareeba!]

Yeah make it dumb-as-rock easy for someone to place a bet like a "simple mode" that mimics a regular sports book. Matchbook is designed badly and looks intimidating. I was wondering if market makers would like the size of their offers to be hidden? Why show the depth of the market? Maybe create a line based on the aggregated weight of the offers?

obviously you've not played at exchanges much?

market depth is essential information and makes the exchange tick .. without that turnover would be crap by comparison

could you imagine a stock exchange not having that information readily available?

[donjuan]

JJ continues to downgrade MB and he doesn't even play there..............they also do not advertise here.

That's two strikes

Anyone on this forum not playing at Matchbook should just pack up their bags and move on to a LAWN and GARDEN forum, as they are wasting their time and money on this forum.

Matchbook is close to worthless to the majority of advantage gamblers. Other than making close to 0EV hedges, what does it actually offer?