Todd:
Yes the StMarys/USF game got down to a 7 point lead and you closed the session with a minute on the game clock!!!!!
The spread was inplay and you closed everything out!!!
Trying to save a few dollars so no one can cover? In the meanwhile you make another huge blunder!!
USF@STMA.STMA-5.5 +244 87.7 99.5 -170.05
I have $2200 at risk and you pull another bull**** move like this?? It wasnt the MMers tonight – BUT ITS THE MANAGEMENT WHERE THE PROBLEMS ARRISE FROM!
Another great job by Trade Sports. And once again, Im sure there will be no response.
Class acts all the way.
Todd
Todd:
FV it was straight up bull****. I email them asking them not to close the exchange almost every monday night… and last monday I got a message back saying how they know… and how they never do..
So I didnt do it last night… And they closed the exchange with 1 min to go in a game that had a MMer.. it was a 9 point game.. that got down to 8… with a 6.5 spread. Had USF hit a 3 on their possesion it would have been a totally different outcome.
Youd think TS would do the callasy thing and give back all the fees or ANYTHING!
I paid $44.20 in fees to trade that bull**** last night..
Maybe that should fire the guy who [closed] the exchange.
Abacus:
Todd has identified one major deficiency.
If your market is the United States and your business is gaming you need to hire people who understand American gaming terminology, American games, and most IMPORTANTLY your business needs to be well staffed when American games are played. For Hoop, Baseball and Hockey that means a staff from 7 PM EST to 2 AM EST. It also means that somebody answers the phone during those hours and a person with decision making authority is on duty! One great thing about B0D0G is their customer service is very good. Phone service runs 24/7 and all emails are answered in 10 minutes.
This is the angriest I have seen the forum. It is like a mutiny. If somebody asked me what what people would be complaining about 3 weeks ago I’d have said transferring money but instead we are angry about problems which have festered for years and never been solved to satisfaction. One thing in the company’s favor is these are not complex problems and most could be solved with a directive from the CEO.
You guys at TS tried to fix the automated trading problem a year or so ago but the solution guaranteed we’d revisit the issue. Somebody with an automated program was fronting orders by only 1 contract and your solution was to raise the minimum to 10 contracts. As soon as you changed the rule I remarked they’ll just change their program to 10 and continue as usual. The fact of the matter is your company wanted to pacify both groups and not really permanently solve the problem. Now your going to have to decide if you want a automated programmer who picks off your least skilled clients or some of us because it is all but impossible to trade with that program running.
Since I joined I’ve seen regular messages the exchange closed while a game is in progress. If this happens once, fine. Twice, you’ve got a problem, but what are we to think when this has been a periodic problem for years? Why is this so hard to solve? It’s not just Todd I also wonder if you hire minimum wage help for the 3rd shift. Some of your help has no clue what they are doing and they don’t belong in this line of work.
You people are going to have to decide if you want to make changes, and if so make some hard choices, otherwise the company will fail.
The heart of this issue is that Tradesports’ fee structure creates conflicting incentives between traders and the exchange. The traders want to cover open positions at the end of the game to save on fees, while the exchange wants to close trading before this covering occurs.
Tradesports needs a new fee structure that promotes fee generating trading, not fee reducing trading. For example, providing a graduated fee rebate to high volume traders would promote more trading and potentially raise the total amount that Tradesports collects in fees. It’s the same bulk pricing logic as a buy-one-and-get-the-next-one-20%-off sale that stores use successfully to sell more and make higher profits.
Having a fee structure that creates a conflict of interest between you and your customers is just bad business.
Thanks for your insight.
“Tradesports needs a new fee structure” The current fee structure is the NEW fee structure.
http://www.chrisfmasse.com/2/2006/2006-09-11_fees_tradesports_intrade.html
100% agree Keith. As I stated in my latest email to TEN. There should be no benefit fee wise to covering a winner at the end of the game for either side.
However, this issue is different. The closed trading on the entire website with 1 minute to go in a game where the point spread was totally in play. Nothing to do with covering winners at that point.
Ahh, thanks Todd, I had missed the distinction between them closing that contract early and closing the entire exchange early. Sounds like someone at Tradesports was a little too eager to go home that night. I agree, very poor.
“With one minute to go in the game, the exchange was closed for maintenance.”
A Big Trader’s Open Letter to TradeSports-InTrade
http://www.midasoracle.org/2007/02/21/a-big-traders-open-letter-to-tradesports-intrade/