Comments on: BetFair Casino offers a registration bonus… but reserves the right to take it back later. http://www.midasoracle.org/2008/06/04/betfair-casino-takes-back-registration-bonus/ Prediction Markets, etc. Thu, 02 Feb 2012 23:13:18 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Caruso http://www.midasoracle.org/2008/06/04/betfair-casino-takes-back-registration-bonus/#comment-20816 Caruso Wed, 23 Jul 2008 14:41:31 +0000 http://www.midasoracle.org/?p=7146#comment-20816 Don't know if I mentioned this, but aside from Betfair unilaterally deciding to withhold legitimately earned funds from selected players, they are also now failing to supply game logs upon request and the software (Chartwell) is playing the hithero absent and otherwise intriguing little trick of delivering paying lines on slot machines that don' t actually, err, pay. I've not heard this reported at any other Chartwell. - All my Betfair pages are now updated with warnings. Don’t know if I mentioned this, but aside from Betfair unilaterally deciding to withhold legitimately earned funds from selected players, they are also now failing to supply game logs upon request and the software (Chartwell) is playing the hithero absent and otherwise intriguing little trick of delivering paying lines on slot machines that don’ t actually, err, pay. I’ve not heard this reported at any other Chartwell.

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All my Betfair pages are now updated with warnings.

]]> By: Medemi http://www.midasoracle.org/2008/06/04/betfair-casino-takes-back-registration-bonus/#comment-19910 Medemi Wed, 02 Jul 2008 21:50:25 +0000 http://www.midasoracle.org/?p=7146#comment-19910 <a href="http://www.midasoracle.org/2008/06/04/betfair-casino-takes-back-registration-bonus/wbx.html" rel="nofollow"><em>Wbx</em></a><em> - One to keep an eye on as it seems they clearly want a piece of the betting exchange action and are starting to gain market share quickly during the early part of 2007</em> - :-D - <a href="http://www.matchedbetting.co.uk/betting-exchanges.html" rel="nofollow">http://www.matchedbetting.co.uk/betting-exchanges.html</a> - Maybe we should give the Gambling Commission a call. Or maybe betfair could. Do something useful for a change. Wbx – One to keep an eye on as it seems they clearly want a piece of the betting exchange action and are starting to gain market share quickly during the early part of 2007
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:-D
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http://www.matchedbetting.co.uk/betting-exchanges.html
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Maybe we should give the Gambling Commission a call.
Or maybe betfair could. Do something useful for a change.

]]> By: Ed Murray http://www.midasoracle.org/2008/06/04/betfair-casino-takes-back-registration-bonus/#comment-19908 Ed Murray Wed, 02 Jul 2008 20:46:39 +0000 http://www.midasoracle.org/?p=7146#comment-19908 I find it bizarre - they must have spent millions on WBX, but are missing out the blindingly obvious and easy way to make it competitive.  Maybe it isn't obvious to them.  I find it bizarre – they must have spent millions on WBX, but are missing out the blindingly obvious and easy way to make it competitive.  Maybe it isn’t obvious to them. 

]]> By: Adonis http://www.midasoracle.org/2008/06/04/betfair-casino-takes-back-registration-bonus/#comment-19906 Adonis Wed, 02 Jul 2008 19:20:49 +0000 http://www.midasoracle.org/?p=7146#comment-19906 Just an interim question on our betting exchange knowledge base...... is there any known business link between betfair and Betdaq? Adonis Just an interim question on our betting exchange knowledge base…… is there any known business link between betfair and Betdaq?
Adonis

]]> By: Medemi http://www.midasoracle.org/2008/06/04/betfair-casino-takes-back-registration-bonus/#comment-19905 Medemi Wed, 02 Jul 2008 18:17:38 +0000 http://www.midasoracle.org/?p=7146#comment-19905 <em>Using a robot to internally seed with prices on stable markets which don’t go out of line with the prevailing market price is probably critical to WBX and Betdaq’s success. - </em>Tell me about it, yet they chose to ban me for life in stead. You'll find it is really hard to achieve this - I've read some awful comments on there, and that guy only received his 5th temporary ban. I know who's behind this. Unfortunately (for WBX) I wasn't able to convince them I was really trying to help, in more than one way. Using a robot to internally seed with prices on stable markets which don’t go out of line with the prevailing market price is probably critical to WBX and Betdaq’s success.
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Tell me about it, yet they chose to ban me for life in stead. You’ll find it is really hard to achieve this – I’ve read some awful comments on there, and that guy only received his 5th temporary ban. I know who’s behind this.
Unfortunately (for WBX) I wasn’t able to convince them I was really trying to help, in more than one way.

]]> By: Ed Murray http://www.midasoracle.org/2008/06/04/betfair-casino-takes-back-registration-bonus/#comment-19899 Ed Murray Wed, 02 Jul 2008 11:57:14 +0000 http://www.midasoracle.org/?p=7146#comment-19899 Sporting Options went bust because they seeded their own markets - <em>and went out of line with the price on Bet"fair"</em>.  Using a robot to internally seed with prices on stable markets which don't go out of line with the prevailing market price is probably critical to WBX and Betdaq's success.  Its absolutely bonkers to swell their own turnover with artificial trading figures, but not try to find a way to get real liquidity into the market.  Catering for the non-price sensitive punters is what keeps the wheels oiled on BF and WBX/Betdaq.  Having no liquidity when there is a fairly easy way to do it is just potty. Sporting Options went bust because they seeded their own markets – and went out of line with the price on Bet”fair”.  Using a robot to internally seed with prices on stable markets which don’t go out of line with the prevailing market price is probably critical to WBX and Betdaq’s success.  Its absolutely bonkers to swell their own turnover with artificial trading figures, but not try to find a way to get real liquidity into the market.  Catering for the non-price sensitive punters is what keeps the wheels oiled on BF and WBX/Betdaq.  Having no liquidity when there is a fairly easy way to do it is just potty.

]]> By: Ed Murray http://www.midasoracle.org/2008/06/04/betfair-casino-takes-back-registration-bonus/#comment-19889 Ed Murray Wed, 02 Jul 2008 08:01:09 +0000 http://www.midasoracle.org/?p=7146#comment-19889 Assuming that's true medemi (which i do), then I seriously have no idea why they bothered opening up an exchange.  Assuming that’s true medemi (which i do), then I seriously have no idea why they bothered opening up an exchange. 

]]> By: Medemi http://www.midasoracle.org/2008/06/04/betfair-casino-takes-back-registration-bonus/#comment-19886 Medemi Wed, 02 Jul 2008 06:57:45 +0000 http://www.midasoracle.org/?p=7146#comment-19886 Ed, - I have a bot that "rotates" through the markets on betfair. All I needed to do is hook it up with WBX. I was willing to build such an application offering prices just below the real prices with a non-profit intent, just for the fun of it. Maybe even spread it around. I let the WBX management know I was interested in providing some liquidity but they never got back to me. It seems they prefer their fake markets, and when I found out about that I lost complete interest of course. There must be more people like me. It's better this way, let them go down. I have no intention of using my bot ever again btw. Ed,
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I have a bot that “rotates” through the markets on betfair. All I needed to do is hook it up with WBX. I was willing to build such an application offering prices just below the real prices with a non-profit intent, just for the fun of it. Maybe even spread it around. I let the WBX management know I was interested in providing some liquidity but they never got back to me. It seems they prefer their fake markets, and when I found out about that I lost complete interest of course. There must be more people like me. It’s better this way, let them go down. I have no intention of using my bot ever again btw.

]]> By: Ed Murray http://www.midasoracle.org/2008/06/04/betfair-casino-takes-back-registration-bonus/#comment-19870 Ed Murray Wed, 02 Jul 2008 00:10:06 +0000 http://www.midasoracle.org/?p=7146#comment-19870 I'm sure there are scanning robots operating over the different exchanges looking for overbroke opportunities.  WBX & Betdaq are both missing out on joining in the party.  Tradefair (Betfair in disguise) are actively recruiting heavy Betfair users in Hammersmith trying to court them into seeding Tradefair, but a robot offering real liquidity on WBX and Betdaq, scabbing the BF price to put up real liquidity, would be a massive bonus to both exchanges, and I think would look like a much more attractive and profitable tool for the current people BF are chasing to seed TF.  I’m sure there are scanning robots operating over the different exchanges looking for overbroke opportunities.  WBX & Betdaq are both missing out on joining in the party.  Tradefair (Betfair in disguise) are actively recruiting heavy Betfair users in Hammersmith trying to court them into seeding Tradefair, but a robot offering real liquidity on WBX and Betdaq, scabbing the BF price to put up real liquidity, would be a massive bonus to both exchanges, and I think would look like a much more attractive and profitable tool for the current people BF are chasing to seed TF. 

]]> By: Ed Murray http://www.midasoracle.org/2008/06/04/betfair-casino-takes-back-registration-bonus/#comment-19869 Ed Murray Wed, 02 Jul 2008 00:01:10 +0000 http://www.midasoracle.org/?p=7146#comment-19869 I think its quite sad to see the WBX total matched market manipulation.  The reason why its sad is that a genuine competitor to BF has the ability to shadow the prices on BF - if a market is trading at evens on BF, there is no reason why an internal seeding robot should not be laying say 1.9 on WBX, in lumpy size, whilst backing 2.1.  Its a win-win, getting over the odds on the BF price, and can only be picked off by corrupt accounts, i.e. people who know the actual result of fixed races or matches. - Restrict the size that the 1.9 and 2.1 bets are good in, say 5k, and then fritter that money outwards in a rainbow at lower and higher increments, respectively further away from evens than the 1.9 to 2.1 band are. - WBX need a trading robot on their own markets.  It is fully doable, betdirect have done something like this for years, with a robot plugged in to the bf price shadowing it.  With the aim of long run profitability, offering fairly meaty size ten clicks above and below the current o/u 2.5 goals price on bf, really wouldn't be difficult to program, and there would be a lot of investors ready to fund such a project (i can think of a number i know personally who would be happy getting ten clicks above or below current bf price commission free).  Having no liquidity is inexcusable, when WBX are in the position to literally take on BF using the free market prices on the exchange which are available in size.  I think its quite sad to see the WBX total matched market manipulation.  The reason why its sad is that a genuine competitor to BF has the ability to shadow the prices on BF – if a market is trading at evens on BF, there is no reason why an internal seeding robot should not be laying say 1.9 on WBX, in lumpy size, whilst backing 2.1.  Its a win-win, getting over the odds on the BF price, and can only be picked off by corrupt accounts, i.e. people who know the actual result of fixed races or matches.
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Restrict the size that the 1.9 and 2.1 bets are good in, say 5k, and then fritter that money outwards in a rainbow at lower and higher increments, respectively further away from evens than the 1.9 to 2.1 band are.
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WBX need a trading robot on their own markets.  It is fully doable, betdirect have done something like this for years, with a robot plugged in to the bf price shadowing it.  With the aim of long run profitability, offering fairly meaty size ten clicks above and below the current o/u 2.5 goals price on bf, really wouldn’t be difficult to program, and there would be a lot of investors ready to fund such a project (i can think of a number i know personally who would be happy getting ten clicks above or below current bf price commission free).  Having no liquidity is inexcusable, when WBX are in the position to literally take on BF using the free market prices on the exchange which are available in size. 

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