"They have software which tells them what the risk is associated with a potential result is and suggests what hedge bets can be placed to mitigate that risk at current exchange prices. They then place the hedge bets to manage the risk."

Once the alogorithm for this software is perfected it will no longer "suggest" potenential "hedge bets" but will actually place them as a fully functional bot on the betfair exchange.

Graham "sharp" Minds-Interveiwed by betfair

"If this new cross-matching bot is being called a superbot, then this will be the hyperbot. A bot which will perfectly arb the mutiple bets into the exchange so betfair can make money from it’s mutiples operation risk free"

The perfection of the algorithym was one of the things betfair asked me in my interview if I could help solve.

Betfair needs to nip the current round of noise in the bud once and for all.  It needs to clarify its own advertisements, in which it states that "Because you are betting against other punters, "you could" get better value;" which in the light of alleged revelations that its trades in its own markets, would seem to amount to a misrepresentation.

Regardless of what Betfair is and is not doing, its various schemes are primarily designed to increase the company’s revenue.  All well and good, but as revenue increases, so transaction costs should be coming down; or is the extra revenue being employed to hold up some more shaky parts of the empire …such as poker, gaming and Timeform?

The head in the sand approach, which has worked so well in the past, may just be about to unravel.

P>S..One has to wonder about the incompetency of those that run Betdaq; who, when presented with an opportunity to steal market share from Betfair, do sweet FA……..not wanting to upset the Bet Chronicle apple cart perhaps…