Betfair does very well because Euro players like this form of betting vs Americans that are traditional bettors for the most part. THE UK has always been a leader i creative bookmaking for the last 100 years or so.
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Great idea..Comment -
I think the key thing would be free transfers with Matchbook, Pinny,5D, Betjam, etc.Comment -
exchange
They are not many but they are enough.Betifair are the best, you can try Betsson, WBX,they are good enough, they have excellent back-lay options.Comment -
I.would.be.inblog '09-'10: 37-16: +$31,900
mlb 2010; 16-12: +$4,540
gellyhoops 2010: 10-6 +$3,150
overall: 63-34 +$40,290Comment -
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Blackie just might corner the market now
Credit shop
RebateWager
VIP shop
Betting ExchangeComment -
I'd play there if you could convince me to leave matchbook with say
-99% uptime
-similar or cheaper commission
-props on big gamesComment -
This sounds very interestingComment -
Exchanges seem so easy to run and take a ton of business from Matchbook, but yet... no other one has succeeded with the US market... What happened to the Betcris-affiliated exchange? Havent heard ANYTHING about them since they opened.Comment -
If the liquidity is good and money can be moved in and out easily enough (transfers/wires/ewallets) ala matchbook--then i think you would do well. Software similar to match in ease of use. API possibilities for big players.
I was hoping Phoenix would pull this off, but i would certainly be a player there if I could get in and out seamlessly.
GL to you Blackie. From what I can tell u have been straight shooter from day one. man, is that rare in any arena anymore.Comment -
Well with any online site, the more people they get, the more chance there will be attacks. This is just another reason why Pinnacle is so amazing: being able to have their site up at 99.9% of the time.Comment -
What a steaming pile of shite - these are the clowns who can't handle moneybookers.
No liquidity & no idea - they might just be the next wbx - can't wait
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There is a definite niche market for an old style P2P exchange. Maybe people forget how they started out...
The big change for exchanges was the movement to anonymous pooled liquidity.
Before that, you literally were somebody, making and taking individualised offers.
You had a moniker just like a message board name. You put up your own offers under your moniker. Takers could go after the best price or could go after guys you hated!! On flutter.com I hated a guy called dangermouse because he put up such shit offers. But occasionally he made a mistake and I would pick him off. Stupid but fun.
OK, it could be a bind sifting through hundreds of offers but it was still fun and profitable. It was more of a community than now.
There is room for this type of old P2P exchange I think. It would sit well alongside an existing message board community.Comment -
Need low commissions
High Liquidity
No added fees/commission on winning players
IF you can do these things along with having all games in-play Live with high in-play liquidity across the board I'll play there almost exclusively and certainly Live everyday.Comment -
The biggest hurdle would be getting market makers. Either you need to risk your own money or you need to attract them with a special deal (credit, cashback %). You would need to also build a reliable API. Without market makers, your exchange will be a ghost town.Comment -
countless have tried opening an exchange, 99% have failed. it's all about liquidity: to atract customers to place bets, there need to be offers. to get offers, you need customers. since a start-up won't have any customers, it's a circle you can't break out of, and will make the operation fail every single time, unless you make the offers yourself.
in other words, it's necessary to continually seed an enormous amount of markets with your own money and make sure the odds offered in these markets are better than the prices offered by books. a concept that exchanges often don't seem to get: why bet with them if there are better prices elsewhere. the exchange might say: but you can make your own offer and get better prices that way, isn't that great!! every bettor knows, or will find out within minutes, you'll never get matched at any exchange other than betfair on a regular basis unless your odds are way off and therefore they won't offer anything until they're paid to do it or there are enough other customers online to match them (which is hardly ever the case at any exchange with the exception of Betfair).
anyway, you'll have to swallow both operational and betting losses first either seeding markets yourself or subsidizing others to seed for you before you'll have any customers willing to bet with you consistently, let alone a critical mass of customers big enough to cover your costs.
once you're past that initial stage though, but you'll likely never get there, you can sit back and watch the money come in. Raise commission, do whatever you want, now the catch 22 of liquidity being provided is working for you, instead of against you. People are relying on your platform and make offers amongst themselves all the time because they know if the price is reasonable they'll get action. Only one exchange has made it to that stage, and that's Betfair. All others are either somewhere in between basically looking like they won't make it (matchbook wbx betdaq), or are long gone (and there were dozens in Europe who failed).
To make a long story short, unless you have very very deep pockets and are willing to invest everything that's in those pockets, I wouldn't do it.Comment -
On the nose, noyb.
How is Betmaker doing these days? They made a little noise a few months ago, but last I checked their liquidity was shite, and so were their fees.
But if you are going to make a run at it, one thing I would add that Matchbook does not seem to have, is the ability to set your own points on spreads and totals when posting new offers. Seems that Matchbook establishes the markets, and then players can post their own price inside that.
How about to get your operation going: a truly free market, no vig on the trades. Just charge to get your money in and out.Comment -
For US sports maybe, for all others no.Comment -
Starting an exchange is difficult. Right now there isn't room for two exchanges in the US market. That means you're going to need to convince the people currently playing at Matchbook to switch over.
Keep in mind an exchange must first have liquidity before people will want to play there. But you won't have liquidity without people playing there. That's the Catch-22.
When starting out, you're going to need to provide your own liquidity or offer incentives for others. Convincing market makers to come to your exchange. Pay generously to anyone who makes offers in your exchange. Plan to lose money at first because you have to attract market makers.
Next, focus on improving the things Matchbook does poorly.
Matchbook hasn't upgraded their interface in years. Build a better interface. Make it have several levels of complexity. For those just starting out, give the option of a basic interface that looks as much like a "regular sportsbook" as possible (i.e., the user cannot make offers, only accept). Many users don't want anything more than this. For more experienced users, give them a more advanced interface that allows them access to the full exchange.
Matchbook spends little to no money on marketing and advertising. Put your brand behind the exchange concept and really promote it as a low-juice alternative.Comment -
I'm skeptical. But good luck!
Blackie is too tight to seed so it will fail.Comment -
As some ppl here have been saying if u use betfair.com as a template you really cant or wont go wrong...
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Cris's BetMaker FAILED....I wish you the best Blackie.Comment -
As said, it could certainly work if given a chance. By that I mean it has to be invested in just like every business. Start a bar, it's not profitable as soon as it opens, which most think it would be. This would lose money immediatly, but given the advertising, (get it on ESPN!!!, it would work!), and name that everyone, not just sports betters, knows about, you can drag on all the recreational players who are afraid of sports books, and the sharps who would drool over the fish. And that right there is all you need, and the commision can be just as big as any of the other sites.
Just need the biggest recreational player base.Comment -
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