Category Archives: Market Transaction Costs
BetFair – Live Chat Session – Tuesday, January 27th, 2009
BetFair – Live Chat Session – Tuesday, January 27th, 2009 – [This link is only available to the BetFair registered users, alas. In the future, BetFair should make the transcripts of all chat sessions available to the public at large, in my view.]
Here is a transcript, transmitted to me by Mike Robb of BetFair —many [...]
World’s #1 finance blogger withdraws all his money from InTrade… and blogs about it —detailing his negative customer experience to his thousands of Wall Street readers.
Market Movers:
Dec 3 2008 5:52PM EST
The Problem With InTrade
I recently withdrew money from an InTrade account I’ve had for some years. The total cost of withdrawing the money was $53.10: A $20 fee to InTrade for “processing the bank wire”, a €10 ($13.10) wire-transfer fee to National Irish Bank, and a [...]
“TradeSports – a classless act – right to the very last day.”
Our good friend Todd is not happy with the TradeSports-InTrade money transfer fees.
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All against the BetFair premium charges
Excellent analysis from the “Punt” blogger.
Serial bet winners are accused (that’s the word) to withdraw money from the BetFair machine, compelling BetFair to attract new money from newbies at a high marketing cost, and thus BetFair has decided to tax those serial bet winners.
I wonder what a Harvard or Wharton MBA would think of this [...]
The BetFair “crisis board meeting” was a total invention of the Daily Mail, but the PR debacle is real.
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Mark Iverson’s take
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Racing UK discussion on the BetFair Premium Charges
http://myfreefilehosting.com/f/65316b3dad_13.76MB
http://myfreefilehosting.com/f/e050785511_12.87MB
Go first to the 2 webpages above. Then, right-click the link, and download the files.
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A list of the Betfair forum threads about the new premium charges.
A FaceBook group has been created to protest the new BetFair premium charges.
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PREVIOUSLY: BetFair impose new “Premium Charges”… Do BetFair [...]
AUDIO on the BetFair Premium Charges
http://myfreefilehosting.com/f/65316b3dad_13.76MB
http://myfreefilehosting.com/f/e050785511_12.87MB
Go first to the 2 webpages above. Then, right-click the link, and download the files.
Racing UK discussion on the BetFair Premium Charges
PREVIOUSLY: BetFair impose new “Premium Charges”… Do BetFair gag the critics, too?
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With the “premium charges”, BetFair is asking the hogs to pony up. However, the collateral damage is that the concept of “exchange” is stabbed in the back.
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A list of the Betfair forum threads about the new premium charges.
A FaceBook group has been created to protest the new BetFair premium charges.
PREVIOUSLY: BetFair impose new “Premium Charges”… Do BetFair gag the critics, too?
Just like Greg Mankiw, the BetFair event derivative traders don’t like tax hikes.
A non-scientific poll among British event derivative traders:
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PREVIOUSLY: BetFair impose new “Premium Charges”… Do BetFair gag the critics, too?
UPDATE: They announce a Q&A.
Some vocal event derivative traders reject the new BetFair “premium charges” —as a matter of principle.
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PREVIOUSLY: BetFair impose new “Premium Charges”… Do BetFair gag the critics, too?
UPDATE: They announce a Q&A.
BetFair impose new “Premium Charges”, and their very active traders are up in arms. – Plus, do BetFair gag the critics?
My analysis of this PR debacle:
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 [...]
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