1. 06-05-11 08:33 PM #36
    illfuuptn
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    It seems like we should have some sort of legal argument....you can bet on horses but not other sporting events? Discrimination much? Btw you guys need to stop acting like a poker bill would be a gateway for sports betting regulation. People like Kyl and Bauchus MIGHT allow poker but they will do everything they can to keep sports betting out. And when compromising on a poker bill, the PPA(and people who want poker) won't ******* blink before saying "ok" to a proposed strengthening of uigea. Let that sink in guys.
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  2. 06-05-11 09:14 PM #37
    trixtrix
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    i'll be happy if they just allowed physical sportsbetting in a.c by year's end
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  3. 06-05-11 11:48 PM #38
    neverstoppers23
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    Wow this is very interesting news!
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  4. 06-05-11 11:58 PM #39
    Foosball Champ
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    It will never happen. repeat never
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  5. 06-06-11 12:11 AM #40
    jackkkk2009
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    I wish Matchbook will be the same as betfair..
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  6. 06-06-11 01:16 AM #41
    nyplayer33
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    Pretty sure this would only be open to residents of New jersey...offshores will always be around..they offer lines on many more sports and werent they around when pinny and matchbook were avail to us..
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  7. 06-06-11 03:28 AM #42
    neverstoppers23
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    I just wish US was able to bet on future market things. I know this has nothing to do with this thread but it just made me think of it.
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  8. 06-06-11 05:46 AM #43
    thespeculator
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    Quote Originally Posted by Hareeba! View Post
    never say never but it does look as though it will be a long time coming
    agree ,never say never, so how about low chances within the next 5-7 years
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  9. 06-06-11 06:03 AM #44
    althelegend
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    It's a move in the right direction.
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  10. 06-06-11 07:18 AM #45
    sq764
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    i cant see jersey passing anything, atlantic city would have a cow
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  11. 06-06-11 02:53 PM #46
    LVHerbie
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    Quote Originally Posted by jairocon View Post
    Seriously? What about the rest of the world? Liquidity would be pretty much the same as it is now... NJ would be just a drop.
    I assumed it would be closed system just for NJ residents (with intentions to expand it to the rest of the US)... If they get it federally approved (which I guess would be likely since horse racing has a carve out in the UIEGA?) to allow it to be pooled with other horse racing on Betfair outside the US you would obviously have good liquidity...
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  12. 06-06-11 02:57 PM #47
    clonecat
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    Any step forward would be great news
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  13. 06-06-11 03:30 PM #48
    Hareeba!
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    Quote Originally Posted by LVHerbie View Post
    I assumed it would be closed system just for NJ residents (with intentions to expand it to the rest of the US)... If they get it federally approved (which I guess would be likely since horse racing has a carve out in the UIEGA?) to allow it to be pooled with other horse racing on Betfair outside the US you would obviously have good liquidity...
    I can't believe that it would be restricted to NJ (or US) residents.
    There would be bugger all liquidity and it wouldn't be viable.
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  14. 06-06-11 03:59 PM #49
    CLASSIC ROCK
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    Why doesn't federal law affect Nevada , could not every state decide for there self
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  15. 06-08-11 10:49 AM #50
    todd73nj
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    All this has been disucssed for a long time. As a NJ resident, they have been talking about Casinos at the Meadowlands, exchange betting, etc etc.

    Horseracing in NJ is a dying industry. I can remember going to the Hambo and The Meadowlands Pace 10 or 15 years ago - and having to park at the Arena and walk over the highways to get close to the track. Coulcnt even get bets in unless you stood up there a few races prior.

    Now its a ghost town. Even for big events.

    I tried to do a business deal with Aaramark back in the day, they wanted $500,000 to put a few banners around the track. Now they practically pay you.

    Adding NJ to Betfair's horse racing pool wont change anything. Would barely be utilized.

    Until the federal ban is lifted.. hard to get excited about anything else.
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  16. 06-08-11 11:50 AM #51
    Ballpark
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    A lot of players in the UK see Betfair as a bit of a rip-off due to their excessive fees.
    There is normally much better value backing at bookmakers such as Victor Chandler.
    As for laying, BetDaq and Smarkets offer reduced commission.
    So I for one do not bother with Betfair anymore.
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  17. 06-08-11 12:59 PM #52
    White Rhino
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    I think this is a start in the right direction.
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  18. 06-08-11 06:03 PM #53
    Hareeba!
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    Quote Originally Posted by Ballpark View Post
    A lot of players in the UK see Betfair as a bit of a rip-off due to their excessive fees.
    There is normally much better value backing at bookmakers such as Victor Chandler.
    As for laying, BetDaq and Smarkets offer reduced commission.
    So I for one do not bother with Betfair anymore.
    VC lol
    how long before they limit you to betting in peanuts?
    same for ALL the Euro books
    Betfair will never limit you
    And their odds (after commission) are generally competitive with the biggest and best books such as Pinnacle, SBO and 188 on major sports
    If you're not bothering with Betfair you are costing yourself for sure
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  19. 06-09-11 10:03 AM #54
    todd73nj
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    Quote Originally Posted by Ballpark View Post
    A lot of players in the UK see Betfair as a bit of a rip-off due to their excessive fees.
    There is normally much better value backing at bookmakers such as Victor Chandler.
    As for laying, BetDaq and Smarkets offer reduced commission.
    So I for one do not bother with Betfair anymore.
    I have affiliate accounts for my website with both Betdaq and Betfair... (Honestly never heard of the other one)

    In our odds comparison chart, BetDaq doesnt even get a sniff at what Bet Fair offers.

    And in this enviroment of uncertainty (at least from my point of view being in the USA), Id rather have my money where I know its safe. And It would be hard to dispute that Betfair is one of the top places to have your funds from a safety point of view.
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  20. 07-05-11 12:06 PM #55
    newexchangeneed
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    Betfair are charging 40%-60% of profits to some winning customers. Their share price has dropped over the last year around 50%, and is down 8% in the last couple of days. I understand that HMRC in UK think that Betfair should have paid VAT on commission fees collected, because Betfair did not bear the risk of the bet, and this could cost them a nine figure sum. Also there have been a number of questions raised about transactions on Betfair that look like money laundering - Manchester United matched at 14 pre-event, when they should have been 1.05 was one example I was shown. And there are claims that they have done little about the many fixed matches in football, tennis and cricket, even though they know the identity of the culprits. Many a draw has been backed at odds-on pre-event, and such odds can only mean corruption. I know that log files have been sent to SOCA.

    In the US, the DOJ shut down poker companies just on the whiff of money-laundering. I have no evidence - other than that I have stated, and each customer should take his own decision.
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  21. 07-05-11 03:32 PM #56
    kkkkk
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    last statement is hit in bullseye. betfair stated new charge to customers, so if anyone of you reach 250k pounds total profit will be charged very nicely like 40+ percent
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  22. 07-05-11 04:06 PM #57
    Hareeba!
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    Quote Originally Posted by kkkkk View Post
    last statement is hit in bullseye. betfair stated new charge to customers, so if anyone of you reach 250k pounds total profit will be charged very nicely like 40+ percent
    yet another inaccurate statement in relation to Betfair's premium charges
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  23. 07-05-11 10:54 PM #58
    illfuuptn
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    This thread is so dumb. Don't you see that hr2633(not totally sure on the #) will almost certainly be passed sometime in the next 15 months and that bill has language that specifically makes online sports betting illegal. There will be no US based sports betting websites for at least 10 years.
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  24. 07-05-11 10:56 PM #59
    Hareeba!
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    Quote Originally Posted by illfuuptn View Post
    This thread is so dumb. Don't you see that hr2633(not totally sure on the #) will almost certainly be passed sometime in the next 15 months and that bill has language that specifically makes online sports betting illegal. There will be no US based sports betting websites for at least 10 years.
    I thought Betfair were to offer only racing, not sports to US residents ?

    To the best of my understanding that's legal ?
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  25. 07-05-11 11:03 PM #60
    todd73nj
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    Quote Originally Posted by Hareeba! View Post

    I thought Betfair were to offer only racing, not sports to US residents ?

    To the best of my understanding that's legal ?

    Racing is legal from my understanding - and that all that Befair is proposing.

    Not too exciting.. but a start I guess.
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  26. 07-05-11 11:22 PM #61
    agharah1
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    If this is true, Christie has my thanks. But he's still a fat bastard.
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  27. 07-06-11 04:46 AM #62
    Sawyer
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    Quote Originally Posted by newexchangeneed View Post
    Betfair are charging 40%-60% of profits to some winning customers. Their share price has dropped over the last year around 50%, and is down 8% in the last couple of days. I understand that HMRC in UK think that Betfair should have paid VAT on commission fees collected, because Betfair did not bear the risk of the bet, and this could cost them a nine figure sum. Also there have been a number of questions raised about transactions on Betfair that look like money laundering - Manchester United matched at 14 pre-event, when they should have been 1.05 was one example I was shown. And there are claims that they have done little about the many fixed matches in football, tennis and cricket, even though they know the identity of the culprits. Many a draw has been backed at odds-on pre-event, and such odds can only mean corruption. I know that log files have been sent to SOCA.

    .
    That's right. Betfair is struggling these days. But still, they're the best exchange in world. Liquidity hits over 10+ Million USD in tennis games, 70-80 million dollars in soccer games..

    About New %40-60 Premium Charge: It's for clients who are up +250,000 Pounds lifetime only. Not dollar, pound. (Makes 400k USD approximately)

    Do you know the reason why BF come up with Premium Charge? Because (strange but true) Top 70 BF Traders' profit is MORE then Betfair! Unbelieveable, isnt it?

    Latest problems (share prices are dropping etc) may be the reason of new Premium Charge thing.

    PS: Standart Premium Charge is %20. If you're not target to PC, comission is %2-5.
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  28. 07-06-11 05:32 AM #63
    thespeculator
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    Quote Originally Posted by Sawyer View Post
    That's right. Betfair is struggling these days. But still, they're the best exchange in world. Liquidity hits over 10+ Million USD in tennis games, 70-80 million dollars in soccer games..

    About New %40-60 Premium Charge: It's for clients who are up +250,000 Pounds lifetime only. Not dollar, pound. (Makes 400k USD approximately)

    Do you know the reason why BF come up with Premium Charge? Because (strange but true) Top 70 BF Traders' profit is MORE then Betfair! Unbelieveable, isnt it?

    Latest problems (share prices are dropping etc) may be the reason of new Premium Charge thing.

    PS: Standart Premium Charge is %20. If you're not target to PC, comission is %2-5.
    i thought they didn't care if you win , and isn't that how they make their money ,by charging winners,

    anyways i am no where near that , so i will stick with betfair, there is nothing better than betting on a horse any time of day 7 days a week and the in play ponies are the best
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  29. 07-06-11 11:06 PM #64
    todd73nj
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    Quote Originally Posted by agharah1 View Post
    If this is true, Christie has my thanks. But he's still a fat bastard.
    You from NJ?

    Quote Originally Posted by Sawyer View Post

    That's right. Betfair is struggling these days. But still, they're the best exchange in world. Liquidity hits over 10+ Million USD in tennis games, 70-80 million dollars in soccer games..

    About New %40-60 Premium Charge: It's for clients who are up +250,000 Pounds lifetime only. Not dollar, pound. (Makes 400k USD approximately)

    Do you know the reason why BF come up with Premium Charge? Because (strange but true) Top 70 BF Traders' profit is MORE then Betfair! Unbelieveable, isnt it?

    Latest problems (share prices are dropping etc) may be the reason of new Premium Charge thing.

    PS: Standart Premium Charge is %20. If you're not target to PC, comission is %2-5.

    There are so many sites that track Betfair volume so Im sure your data is accurate.

    If BF opened up to the US market - which obviously would involve legalization in the US and I wont hold my breath - those #s would be even more staggering.

    And when you say standard premium is 20% - thats 20% of Net win, correct?
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  30. 07-08-11 09:19 PM #65
    davidchong
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    Quote Originally Posted by Ballpark View Post
    A lot of players in the UK see Betfair as a bit of a rip-off due to their excessive fees.
    There is normally much better value backing at bookmakers such as Victor Chandler.
    As for laying, BetDaq and Smarkets offer reduced commission.
    So I for one do not bother with Betfair anymore.
    the fees for using software are increased from 40%-60% last week at BF
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  31. 07-08-11 09:22 PM #66
    davidchong
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    Quote Originally Posted by Hareeba! View Post
    I thought Betfair were to offer only racing, not sports to US residents ?

    To the best of my understanding that's legal ?

    BF only can take action on horses...
    usa players can bet only on horses around the world with exception of Australia horses...
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  32. 07-08-11 09:26 PM #67
    Hareeba!
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    Quote Originally Posted by davidchong View Post
    BF only can take action on horses...
    usa players can bet only on horses around the world with exception of Australia horses...
    not sure why you would be saying they won't be able to bet on Aus racing at BF ?

    I think some of the Aussie books accept US customers for race betting ?
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  33. 07-08-11 10:49 PM #68
    davidchong
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    as i know, is illegal to USA players to bet into Australia Pools or Exchange.... thats apply to hong kong races too..
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  34. 07-08-11 10:54 PM #69
    Hareeba!
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    Quote Originally Posted by davidchong View Post
    as i know, is illegal to USA players to bet into Australia Pools or Exchange.... thats apply to hong kong races too..
    Yes I'm aware that Betfair won't take US players yet but when they open up in the US offering racing I don't see any reason why that would be restricted to US and UK racing with Aussie racing excluded.

    Betfair isn't allowed to offer HK racing but several Aussie books do. I know some Aussie books allow US players to bet on races and I would think that would include HK races too.
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  35. 07-08-11 11:06 PM #70
    Santo
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    There is a reason. To bet AU horses you have to transfer to a specific Australian wallet, which is under Australian jurisdiction. All other countries you can bet from the default wallet. I dare say it wouldn't be legal for Betfair to transfer US client funds to AU jurisdiction, and similarly it wouldn't be legal to allow betting on Australian races from a US wallet.
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