Also (slightly) annoying is the 2-stage for yes/no market. Seems this could be eliminated. If I select VCU to win the title, I get a Yes/No box, then whichever I click I get the same yes/no 2-way interface... is the middle step really necessary in 2-way markets?
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Havnt used for some days,and i like what i see
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More a feature request, perhaps for the eventual API apps, but would be good to have an exit market button (ala Tradesports of old), where it splits profit/loss across the market.Comment -
Have you signed up for an account and played around with it? It's easier to help someone understand something once they've gotten their hands dirty with it. Here's the link.
API stands for Application Programming Interface...It means that software programmers can built stuff that will hook into the XMarketExchange software--just like there are tons of third party apps for Twitter. You and I as bettors don't have to know anything about the API issues to use the exchange.Comment -
Perhaps I didn't word my question properly. I have an account at xmarketsexchange.com. I had an account at Matchbook. Both exchanges work very similarly. My question is, what is "an exit market button (ala Tradesport of old), where it splits profit/loss across the market"? How does it work? Is it similar to what Matchbook has/had with "live betting"? Thanks, UB
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Don't think Matchbook had it; it's for both normal and live markets. Essentially if you bet $1000 at +120, and can now get the other side at +100, it would work out how much you need to bet to end up with equal profit on both sides. Same with losses.Comment -
This makes sense, but scares me a little. Please clarify the following: Does this mean that (1) programmers can create their own software programs that XM will help them implement -- and which no one else (other than that particular programmer) has access to, which help that programmer get some kind of edge?...or (2) programmers can create software programs that XM will help implement into the exchange, which all players can have access to, if they so choose (possibly for a fee, I would assume)?
I was an avid trader and provider of liquidity at Matchbook, and would love to be one at XM, but I know nothing about computer programming. I feel I would be at a huge disadvantage if you're talking about description No. 1 above. This kind of reminds me of the programs you hear about where someone is able to "scrape" lines from a site, and have his computer make automated bets (like a bot, I guess) without the human needing to even be involved, and at speeds a human could not trade at. (forgive me if I'm butchering the nomenclature). Almost feels like you're helping programmers cheat the rest of us, or at least gain some advantage that the rest of us do not have access to.
If, however, you're talking about description No. 2 above -- making it possible for programmers to write programs that interface with XM, and are made available to everyone who chooses to play/trade, then that's a different story. That sounds fantastic.
Or have I totally misunderstood what API even means? Please clarify.Comment -
BigFish...Ganchrow is the one who can tell you exactly what they're thinking...but I'd guess it's more like option one.
However, I'm guessing the main thing people will use the interface to do is develop apps that will do is let them get bets in fast...no doubt there will be pick-off-mistake bots, but mostly they will be monitoring a trader's position across different platforms and making auto-offers to balance out those positions, or, for example, to take an offer down when the Pinnacle number moves. This is a good thing because if big players are able to trust the exchange's deposit-withdrawal infrastructure they'll be able to feel safe at XMexchange which will make it liquid and a liquid exchange lifts all boats.Comment -
Are you saying that you're looking for something that will automatically calculate the amount to wager the other way by using a mathematical formula rather than figuring it out manually? If so, it would work well before the game starts where there is two-way action. However, knowing the amount to wager during live wagering won't actually lock in a profit/loss, will it? Don't you still need to go through the process of either making or accepting an offer?
Here's how it worked at Matchbook. MB would leave one market open for each of: money line, spread and total for live wagering (on select games) and keep the spread/total constant throughout the game. This worked well to lock in a profit/loss. However, MB learned that it only worked if there was a market-maker to guarantee two-way action. WSEX was the market-maker for MB. When they split, this feature dried up at MB because it couldn't survive without two-way action.
It would be unique if it worked as I've described above, but without a market-maker to guarantee two-way action, it won't work. Without leadership, who knows what the odds could/should/would be on a (constant) total of 9.5 when the score is 3-0 after the first inning?
I'd kill my best friend (almost) to find a site that offers this to US players. Thanks, UBComment -
bookie -- Thanks for the input. You make a good point about liquidity lifting all boats. In that regard, even option No. 1 would be helpful on some level. My concern, however, is that I consider myself to be in direct competition with those large traders to some degree (whether directly, by gobbling up each others' offers from time to time, or indirectly, by competing for action from recreational players). I hate the idea that some programmer could be using software that XM actually helps them implement -- which I don't have access to. If I have to be keenly aware of when the Pinny line moves, in order to take down or otherwise adjust my offer, I want other traders to be burdened with the same problem, and not to have a competitive edge by having some bot/program/software application do it for them (and perhaps gobble up my stale offer if I blink for too long). It's bad enough that I hear stories of people programing bots and the like in violation of many shops' stated rules, but these feels like the shop (XM) is going to actually assist them in doing so.
I hope you're right, bookie, i.e., that those types of programs would be used primarily in the manner you described in post #45 above, but I have a feeling they'd be used for much more eventually. Again, thanks for the input, and for pointing out the positive.
Ganch, I'd love to hear what the correct answer is, straight from the horse's mouth....Comment -
Essentially yes. The tradesports implementation essentially put the offer in for you at the best current market price (regardless of volume) and left it to be matched. They did have a live bet market maker however, so you (almost) always were guaranteed liquidity on both sides.Comment -
Exit markets will separate Blackie's exchange from any other
It is a must and will draw in more players
Tradesports did a great job with that, they were ahead of their time and actually was not doing that bad, the USA anti gambling laws scared them away.Comment -
Apparent DNS issue with http://www.xmexchange.com/.
Use http://www.xmarketsexchange.com/.
Should be back up and running from most all locations.Comment -
I don't know if this was a bug or not. The Butler/Conn game money line was at +150/-162. I bought $3,851.01 of Conn at -162. I got $0.65 to win $0.41 at -156 and the rest at -162. I suppose someone could have made a small offer in the few seconds it took me to complete the transaction but I doubt it. Did I read somewhere that you're not going to show such small amounts?Comment -
That is correct.
Orders totaling less than a minimum view quantity displayed in the market view {unless they included include one or more of your orders).
You can modify that minimum size quantity ($5 by default) from the basic options dialog box (click on the logo at the top left of the screen).Comment -
Ganch: Any chance you can address the question I posed a few posts above (#44) -- and the ensuing discussion that bookie and I had on that same subject.Comment -
API's have been a major part of exchange trading for quite some time. The vast majority of major exchange big dollar market makers and relative value traders have been using API software that exists outside of the web front end for quite some time.
As I've mentioned, we plan to make our API accessible not only to players with ready access to programming resources, but also to less tech-savvy pro players via API "helper tools" that we originate in-house, release as open-source code, and continuously manage and develop.
I'm kind of rushing through this a bit ... but what I can say is that within the week to 10 days or so I'll be posting an example Excel spreadsheet that utilizes an alpha release of our API. It's going to be quite basic, proof-of-concept level, but it should nevertheless demonstrate how easy it will be for just about anyone familiar with Excel to customize his own spreadsheet-based trading platform that completely bypasses the standard web GUI.
These types of tools are actually quite easy to create, and savvy traders have been using them for years. Our philosophy here is pretty simple. If you're a liquidity provider we want to make your job as easy as possible. To the extent that we can assist a trader in automating his more mundane tasks, that trader will have more time and attention to perhaps devote to a broader range of markets, or perhaps to establish himself as a more consistent market presence in his areas of specialty.
If you're already an API trader it's likely that you'll be able to quickly build on the the open source code we release. Once we introduce parlays/teaser/pointComment -
Sorry.. I know this question doesn't belong in this thread, but I'm going to ask it anyway. Whats your gut feeling as to whether or not your exchange will be live for this MLB season. 0%? 20%? 80%?Comment -
Regarding the tutorial where you want to buy Heat-4.5 @ -112 ... it would be nice to show the actual wager ... i.e. "Miami Heat -4.5" ... on the in-line order entry form (especially for new players) ... as it is now, my friend even has trouble differentiating between the light grey and light blue ... I realize that it shows in the confirmation step but it's too late to do anything about it if you skip the confirmation.Comment -
At the same spot in the tutorial ... wouldn't it be better to start with an example where the +108 is NOT highlighted with an orange background? ... you don't explain what that represents until a few paragraphs later ... i.e. an offer that you have made that has not been filled yet ... it suggest that you knew enough to make an offer at -108 but forgot how to make an offer at -110.Comment -
I just checked the MLB markets for 4/9. I'm pleased to see 2-way offers for totals on all 15 games. However, not one of the 15 games had a half-run included; all integers. Is it a bug or just work in progress?Comment -
Work in progress bug alert ... Yesterday, I bought around $7,000 to win around $7,000 on the Florida game Over 8.0 and around $7,000 to win around $5,900 on the Colorado game Over 8.0 ... both were winners and were pending last night but gone (as in never existed) by this morning ... just letting you know ... UB
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Where have you gone Ganch? I had hoped you would make good on this by now.Work in progress bug alert ... Yesterday, I bought around $7,000 to win around $7,000 on the Florida game Over 8.0 and around $7,000 to win around $5,900 on the Colorado game Over 8.0 ... both were winners and were pending last night but gone (as in never existed) by this morning ... just letting you know ... UBComment -
Did you have any thoughts on the exit market functionality?Comment -
Let's get this liveComment -
Ganch ... It's been 2 weeks since anyone's seen you ... I've seen bigfoot twice since then ... What the latest?Comment -
Has anyone tried to log in to www.xmarketsexchange.com lately? It actually redirects you to a porn site!
This was actually happening ... 20 minutes later and it's fixed.
No shit! It's back ...
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... I've seen it in the other thread... Is this for in-play wagering (similar to what MB does/did)?
