Brand-new BetFair bet-matching logic proves to be very controversial with some event derivative traders.
Chris F. Masse March 15th, 2008
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Dear Mark
Thank you for your e-mail.
The new bet matching process has been introduced to enable more customers bets to be matched. We do not expect any customers to be effected in negative way including bookmakers.
Previously we would only attempt to match customer bet requests against unmatched bets of the opposing bet type (backs vs. lays) on the same runner in the same market. That part of the bet matching process remains unchanged. Where there is no opposing bet to match on the same selection, rather than just leaving a customer’s bet request unmatched, we will now attempt to match the bet request against unmatched bets on other runners.
Please do not hesitate to contact us if you have any further enquiries.
Kind regards
Matthew Reid
Betfair Helpdesk
Helpdesk Tel: 0844 871 0000
Eire Tel: 1 - 800 944 000
Australia Tel: 1- 800 644 738
Free Fax (Australia) 1 - 800 068 593
International: +44 20 8834 8060
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See also these BetFair forum threads: #1, #2, #3….
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While economist Michael Giberson says that the reform is a step in the right direction, trader Ed Murray makes a series of accusations against BetFair. Traders “Paul” and “Dave” have issues, too. [UPDATE: Niall O'Connor is outraged.]
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Great, yet another polémique between an exchange and its traders —with some economist in between (taking hits from both sides, as I wish secretely, for entertainment purposes). 
- Exchanges & Markets , Market Designs , Market Trading , Mechanism Designs
- Comments(1)
BetFair is as innocent as a lamb… but their P.R. people can’t tell you that at this time. Here’s why.
http://www.midasoracle.org/200.....et-making/