Anyone Know whats up with Launch of Betfair's Exchange-Wagering Site in the USA?

**Foxx** · 11-27-16, 06:00 PM

It's been live. It's only for New Jersey residents in NJ. Where are you?

**PAULYPOKER** · 11-27-16, 06:05 PM

PA,Yeah, I just figured the NJ part out ,Lol.....

But PA probably will be second state as they are in the union. Then they will have Exchange and casino wagering..

I hoping 1 to 3 years..

Can't wait!!

I'll use bitcoin to avoid taxes.....

**Foxx** · 11-27-16, 06:08 PM

I don't think Betfair takes bitcoin. At least not USA Betfair.

**PAULYPOKER** · 11-27-16, 06:54 PM

Ah shit..That sucks..

**PAULYPOKER** · 11-27-16, 06:58 PM

I'm 35 miles from Pittsburgh Casino...

I'd much rather do it online, so I'm hoping at least the casinos will have on line wagering.
But Exchange would be Ideal......

**Optional** · 11-28-16, 02:23 AM

Originally posted by Foxx

I don't think Betfair takes bitcoin. At least not USA Betfair.

Originally posted by PAULYPOKER

Ah shit..That sucks..

They will take a Bitpay V debit card though.... which can be loaded with bitcoin and auto converted to US$

**luctens** · 11-28-16, 09:08 AM

The Betfair USA Exchange has a 12.00% net win commission rate. A complete and utter rip off.

**Foxx** · 11-28-16, 10:32 AM

Originally posted by luctens

The Betfair USA Exchange has a 12.00% net win commission rate. A complete and utter rip off.

Just wait until they throw in a 40% to 60% premium charge at some point down the line.

**PAULYPOKER** · 11-28-16, 08:08 PM

So these Exchanges are not the Exchanges Europe enjoys?

Only in the for profit, fukk the American citizen USA..........

**PAULYPOKER** · 11-28-16, 08:08 PM

Originally posted by Optional

They will take a Bitpay V debit card though.... which can be loaded with bitcoin and auto converted to US$

THX for the Bitpay V debit card,Opty...

What percent do they charge for the "instant auto conversion to $$$"?

**PAULYPOKER** · 11-28-16, 08:10 PM

Looks like staying with 5dimes will be the best option............

Unless pinny opens it's doors to the US.....

**Optional** · 11-28-16, 09:45 PM

Originally posted by PAULYPOKER

THX for the Bitpay V debit card,Opty...

What percent do they charge for the "instant auto conversion to $$$"?

It is not specified in their terms. Just something like the prevailing bank rate it says.

But if you check out this thread http://www.sportsbookreview.com/foru...ebit-card.html there are many users posting and not one has complained about the rate they got.

Which kind of surprised me as I was asking the same question from the start expecting that to be where the rip off was. But it appears it's a fair rate and no fee shocks anywhere. Good product.

**luctens** · 11-29-16, 10:06 AM

Originally posted by PAULYPOKER

So these Exchanges are not the Exchanges Europe enjoys?

Only in the for profit, fukk the American citizen USA..........

The Betfair Exchange in Europe and elsewhere isn't a bed of roses either, far from it. 5.00% base rate net win commission, rising up to 8.00% for some countries and markets, with a 20.00%-60.00% premium charge on the extremely successful players. Don't be fooled into thinking the Betfair Exchange is only "in for the profit" in the USA, they are fleecing customers on a daily basis around the rest of the world as well.

How things have changed. Back in 2000, they went through the streets of London, shouting "death to the bookmaker" and "winners are welcome". Now look at them, they are a bookmaker themselves, they are owned by a bookmaker, all of their focus is on their bookmaker operations, they've hiked commission rates across the world and their very biggest winners are charged up to 60.00% on their profits. It's one of the biggest u-turns in business history.

The Betfair Exchange's liquidity and volume is dwindling every single day and all of their highest volume players, the ones that are just about keeping their show on the road, they are being fleeced with premium charges of up to 60.00%, and therefore their most loyal and valuable customers completely despise the Betfair Exchange.

The Betfair Exchange is now a tainted brand, is on the decline every single day, and will likely be toppled for good within 5 years.

**PAULYPOKER** · 11-29-16, 12:29 PM

So it is best to stay on online books or local books with the regular 10% ATS fees I guess?

In this case, I'm actually rooting for it to stay illegal then.

I can just imagine the fees and monopolies on top of commission that will grow when it becomes legal.

Actually,starting an underground booking business with the same commissions we have today would be a very lucrative biz if you don't get caught.

Starting a legal book would not be worth it as you would have to charge the customer just as much on fees on top of commission just to pay the government so you could stay a float.

**PAULYPOKER** · 11-29-16, 12:32 PM

These off shore books better not deal with the US Government or we're fukked.

Always a catch!!!