One day after BetFair’s PR move, the very active event derivative traders are still very displeased by the new BetFair “premium charges”.

Posted on September 11, 2008 by Chris F. Masse

I have re-published yesterday’s BetFair Q & A at the bottom of my previous post —because that’s the post that Google features, bringing in 300 people a day.

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My analysis of this PR debacle:

  1. BetFair has a very complex information technology system, which is very costly, making BetFair less profitable than the fixed-odds betting operators (the big British bookmakers). They attack the problem with a dual approach: they try to lower the IT costs associated with each bet transaction (see FlyWheel Lite), and they try to spot and exploit their most costly customers (hence the premium charges).
  2. BetFair’s PR department is made up of friendly, knowledgeable and competent people. However, they are not up to date with BOTH the brand-new web publishing tools AND the brand-new behaviors associated with these tools. In other words, they don’t grasp the Web —where velocity and interactivity are 2 factors. Hiring a SEO is not the solution. BetFair should embrace the culture of the Web.

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A FaceBook group has been created to protest the new BetFair premium charges.

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Here are some BetFair traders’ takes:

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UPDATE:

A list of the Betfair forum threads about the new premium charges.

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About Chris F. Masse

Founder and President of Midas Oracle
This entry was posted in Analysis (Industry), Business, Exchange & Market Management, Exchanges & Markets, Internet Marketing - Internet Commerce and tagged , , , , , , , , , , , , , , , , , , , , . Bookmark the permalink.

One Response to One day after BetFair’s PR move, the very active event derivative traders are still very displeased by the new BetFair “premium charges”.

  1. Pingback: BetFair impose new “Premium Charges”, and their very active traders are up in arms. - Plus, do BetFair gag the critics, too? | Midas Oracle .ORG

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