Blackie, Ganchrow, and a Betting Exchange

[Fishhead]

Will this joint ever be open for business?

[donkdown]

who cares how will u fund it?? lol moneypak

[Johnnythunder]

yeah whats the story here.....how long can i possibly take?

[harlee71]

Any updates?

[urge2kill]

I heard ganch is at heritage now.

[Ian]

I asked CS about this a week or so ago and was told the exchange was scrapped but they were planning "something similar" some undetermined time in the future.

[unclebuzz1]

A month later. Any news?

[Cap dat 4ss]

Who is ganch? Is he a mush like landers?

[harlee71]

I met Ganchrow in Costa Rica. Very Loshak kinda guy. That is the best way I can put it. Ganchrow is now at a non SBR advertising sports book in CR.

Good guy though! If your living in CR, he is someone you would want to know.

[Wrecktangle]

I guess I'm not surprised at this.

[Iwinyourmoney]

confirmed at bash this is dead

[PuckOff]

who confirmed it??

[harlee71]

confirmed at bash this is dead

[jjgold]

These exchanges are so hard to get going
Everyone has failed except betfair

matchbook is basically done, not much real volume

[Iwinyourmoney]

who confirmed it??

I'm not going to say just in case it's not 100% public knowledge....but we will call the person someone in direct contact with the exchange

[PuckOff]

Was there any reason given why it's now "dead?" Come on Winner. Give us something.

[SBR_John]

Was there any reason given why it's now "dead?" Come on Winner. Give us something.

It was abandoned by the principals although there is talk of restarting the idea.

[SportsMushroom]

someone mentioned in an other thread that it was scratched due to the cost of moving money something like that

[Fishhead]

These exchanges are so hard to get going
Everyone has failed except betfair

matchbook is basically done, not much real volume

SYNBET opens their exchange today.................or that's what they stated last week anyways.


Don't forget BETMAKER as an exchange

MATCHBOOK is not done

[unclebuzz1]

What's SYNBET and is it available to US players? URL?


.

[PuckOff]

It was abandoned by the principals although there is talk of restarting the idea.

John,

Any idea why it was abandoned? Was it technology related? Payment processing related? Personality conflicts between the principals?

[wantitall4moi]

Exchanges need either a lot of money or a lot of customers/volume. And if they only have a lot of money they wont be around too long if theyre taking the prices, unless they think they can lay them off somewhere else.

Hell a small time joint like this thing was could have opened and just laid off with Pinnacle or one of the Asian joints probably.

Problem is even bookmakers (who dont know any better) think it is a get rich quick scheme) and end up losing their asses because they gamble too much.

Thats why the BIG places always stay in business they run the right models, and they have the right amount of volume and they dont need to gamble (beyond what they cant control) and arent afraid to give free money away to some people in order to stay close to balanced.

That is why I always laughed at the guys who claimed books NEEDED to gamble to stay in business. No they didnt, and since they are all out of business, at least the worst offenders, it showed that it didnt work, at least for them.

problem was there were too many books out there splitting up the money, and therefore most of the small time joints catering to small time guys had to take risks to show a profit. Or wanted to make a lot of money in a short amount of time and gambled, but with the full knowledge that if they did this and lost they would just close up shop and steal everyones money and then open up a few months later under another name and do it all over again.

So for an exchange to work and even books to work you need the volume there to make the design of the system work. If all you do is cater to one side or the other, move on air and give the same numbers as everyone else youre not going to do well. But if you stay true to the system, move when you have to and watch your balances you can do OK. And as long as you stay in business and pay people and offer more than the other guy you might actually start getting more volume which will in turn mean more profits.

Its all about volume in bookmaking not price or 'winning'. But since most dont have enough volume they fail or resort to bad tactics.

But like I said a joint as small as that one could have run pretty efficiently short term by laying off with other places and then once they built up the clientele been self sufficient.

[unclebuzz1]

It was abandoned by the principals although there is talk of restarting the idea.

Any recent developments?

[pokernut9999]

someone mentioned in an other thread that it was scratched due to the cost of moving money something like that

Moving money is the most overlooked problem , hard to do and costly.

[ChuckyTheGoat]

what ever happened to this guy?

[minet123]

what ever happened to this guy?

Isn't he working at Heritage

[ChuckyTheGoat]

Isn't he working at Heritage

What's he doin there?

[byronbb]

What's he doin there?

Managing risk.

[sheepgotwool]

Are you sure he is still at heritage ? Still cannot believe we do not have more exchanges. Americans need an exchange to bet at.

[Fishhead]

LOL

[jjgold]

Are you sure he is still at heritage ? Still cannot believe we do not have more exchanges. Americans need an exchange to bet at.

there is ZERO demand for it..all failed miserably

Americans are traditional bettors and always will be

[bookie]

there is ZERO demand for it..all failed miserably

Americans are traditional bettors and always will be

I gather that you and your circle are all ten dollar bettors, so stuff like exchanges and Bitcoin and bet brokerages seem exotic and weird and unnecessary.

You couldn't be more wrong, though, about the demand. At the level of people betting thousands there is extreme price sensitivity, and Matchbook wrote a huge business when they had Americans before the new owners decided to clean themselves up in the hope of being able to legally enter the U.S. market when the regulatory environment finally changes.

It's particularly sad that Ganchrow's project went off the rails because he had some new wrinkles whereby he was going to be able to offer parlays and other exotics to small bettors at better odds funded by larger bettors all under exchange principles. It's a brilliant idea, just a little ahead of its time.

[unclebuzz1]

there is ZERO demand for it..all failed miserably

Americans are traditional bettors and always will be

It doesn't need to be exclusive to Americans, it only needs to be available to Americans.

[unclebuzz1]

I asked CS about this a week or so ago and was told the exchange was scrapped but they were planning "something similar" some undetermined time in the future.

It was abandoned by the principals although there is talk of restarting the idea.

It's particularly sad that Ganchrow's project went off the rails because he had some new wrinkles whereby he was going to be able to offer parlays and other exotics to small bettors at better odds funded by larger bettors all under exchange principles. It's a brilliant idea, just a little ahead of its time.

Now that it's 4 years later, doesn't Heritage (and 5Dimes) currently use the software (that we helped develop here) for their live wagering platform (minus the exchange portion)? I seem to remember the "favorites" moving around in a similar fashion?

[Robber]

what ever happened to this guy?

Ganchrow quit

Promised big things and never delivered