Trade on BetFair with a TradeFair-like interface thanks to the BinarySoft order-entry software.

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BinarySoft:

BinarySoft develop innovative cross-platform software to operate with online betting exchanges such as Betfair.

Online betting is currently taking the internet by storm, with betting exchanges seeing huge traded volumes in a wide range of markets from sports to political and financial bets. The dividing line between investing and gambling is becoming increasingly blurred, with millions of people worldwide now actively trading on betting exchanges.

BinarySoft develop innovative cross-platform software to enable betting exchange users to trade more efficiently. We are officially certified by the Betfair API, which means that we work closely with Betfair to ensure that our software is reliable and secure.

BinarySoft BDI™ is a revolutionary new way to trade on the Betfair betting exchange. It uses binary prices to present a clean and professional interface for all Betfair markets and is especially suited to markets which have exactly two selections.

About BinarySoft
BinarySoft Ltd was founded in December 2006 by Chris Gibbs. Chris graduated with a degree in Computer Science from Cambridge University in 2003 and has since been involved in various internet start-up companies, providing a wide range of software products and solutions. BinarySoft, his latest venture, was formed out of a keen interest in financial systems and mathematics, together with extensive trading experience in sports and financial markets.

Our Mission
The primary mission of the company is to provide innovative software products for the betting and financial industries. Several exciting new ideas at various stages of the design cycle are currently in development.

Great care is taken over the quality and reliability of our software. All products undergo substantial beta testing before being released and we listen carefully to feedback from our users in order to provide truly world-class software. We pride ourselves in having the most elegant and efficient user interfaces in our field.

BinarySoft are currently based in an office in Bath, UK. The company is a privately held limited company, registered in England and Wales, company number 06032505.

Address:

BinarySoft Ltd
Suite 5
Piccadilly House
London Road
Bath
BA1 6PL
UK

Email: [email protected]

Telephone: +44 (0)1225 22 10 10

Chris Gibbs is the man!!!!!!!!!!!!

Plus, I love Bath. Went two times. Not far away from StoneHenge.

Fallon Betfair Trial Collapses

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Mr Justice Forbes said today that Australian horse race expert Mr Murrihy in his witness statement had been critical of the riding in 13 of the races and that there was a prima facie case against the jockeys. However, he added:

Remarkably, it was only in cross-examination that the very significant limitations and shortcomings in the evidence he was able to give became clear.

In court, Mr Murrihy had said &#8216-it was not incumbent that I verse myself in UK or other jurisdiction rules&#8217-.

Mr Murrihy also said in evidence:

I have not said I was an expert in respect of UK races.

The judge said in his ruling today:

This is an extraordinary admission given that he was purporting to give evidence about 27 races run in the UK according to UK racing rules&#8230-. In my opinion, that was tantamount to Mr Murrihy disqualifying himself in giving evidence in relation to the suspect races. In my opinion it is now clear that Mr Murrihy&#8217-s evidence was subject to a number of significant limitations and shortcomings which were not evident from his witness statements and his evidence in chief. It is abundantly clear that his evidence fell far, far short of establishing a prima facie breach of UK racing rules. I have reached the conclusion that even if it was appropriate to admit Mr Murrihy&#8217-s expert opinion, its probative value is so limited that very little value can be attached to it.

The judge said there was insufficient evidence on which a jury could conclude that the jockeys, and therefore all the defendants, were guilty.

The British Horseracing Authority said after the case:

The restrictions placed on the three jockeys involved in the proceedings expired at the conclusion of the proceedings. Kieren Fallon, who is licensed by the Irish Turf Club, is therefore able to ride in Great Britain, and Fergal Lynch and Darren Williams are able to re-apply for their jockey licences.

Fallon&#8217-s spokesman immediately called for two inquiries into the case – one into the police testimony, the other into why the Crown Prosecution Service (CPS) proceeded with the trial. He estimated the trial cost taxpayers ?10m.

Fallon, 41, from County Clare, Ireland, and two other jockeys, Fergal Lynch and Darren Williams, were charged with conspiracy to defraud customers of Betfair, the world&#8217-s biggest online gambling service. The former owner and racing syndicate director, Miles Rodgers, was also charged with conspiracy to defraud and with an offence under the Proceeds of Crime Act.

[External Link: BBC News]

Prediction markets do react to stale news.

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Gilder and Lerman hypothesised that past/present events can potentially assist in predicting future prices in prediction markets. They empirically revealed that prediction markets are surprisingly predictable, even by purely market-historical techniques.

Taking hold of the baton from Gilder and Lerma, Panos Ipeirotis and George Tziralis developed techniques for extracting news flow signals to see whether they can indeed be utilised to predict the future performance of markets on the InTrade prediction exchange. On the question of whether Hillary Clinton will be the Democratic Presidential Nominee in 2008, they noted-

Our sentiment index (in maroon) is close to 1 when we predict that the market will move higher, and it is close to 0 when we predict that the market will move down. Typically, it works pretty well for predicting long periods of price increases and declines. To put our money where our mouth is, the signal for the last few days shows that Hillary&#8217-s market price will edge lower in the next few days/weeks.

Following on from this we looked at the Intrade prediction market and the Betfair markets on whether Hillary Clinton will be the Democratic Presidential Nominee in 2008, as of 10.45 GMT on December 3 2007. Whilst the Intrade market suggested that Clinton&#8217-s probability of victory was 67%, the Betfair market gave a reading of 69%.

We returned to the Intrade prediction market and the Betfair market on whether Hillary Clinton will be the Democratic Presidential Nominee in 2008 at 08.45 GMT on December 7 2007.

Whilst the Intrade prediction market had previously suggested that Clinton&#8217-s probability of victory was 67%, it was now suggesting that her probability of victory was 64%.

The Betfair market which had given a reading of 69% on Decmber 3 as regards her probability of winning the democratic nomination, was now suggesting that her probability of victory was only 50%.

It is quite clear, that the both sets of markets are responding to stale news, with Intrade significantly lagging behind Betfair, as regards its ability to aggregate all available news flow. Those that had sold Clinton on Betfair at 1.44 on December 3, on the back of Panos Ipeirotis and George Tziralis&#8217- advice, are now sitting on a healthy profit. The claim that prediction markets are innefficient would seem to be gathering momentum&#8230-. with the most likely cause being the fact that they are not liquid enough.

http://www.bettingmarket.com/predictionstale.htm