Tag Archives: Midas Oracle Advisory Board

David Pennock, a respected expert in prediction markets and market design, discusses some aspects of BetFair’s new bet-matching logic.

Posted on March 21, 2008 by Chris F. Masse

David Pennock: Arbitraging bets is the same thing as matching bets. They are equivalent. When someone places a bid at price 10 and someone else places an ask at price 9, there is an “arbitrage” that the exchange eliminates by … Continue reading →

Posted in Exchange & Market Designs, Exchanges & Markets, Market Trading, Market Transaction Costs, Mechanism Designs | Tagged , , , , , , , , , , , , , , | 4 Comments

The free but unsollicited piece of advice from the Chairman of the Midas Oracle Advisory Board to the BetFair market designers.

Posted on March 20, 2008 by Chris F. Masse

Michael Giberson: Jason, I think the allegation of queue jumping made in some of the comments is based upon a misunderstanding. BetFair is just matching the orders when a match becomes available, not inserting new orders at the front of … Continue reading →

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BetFair’s new bet-matching logic + BetFair Malta’s trading on the multiples

Posted on March 19, 2008 by Chris F. Masse

BetFair: Bet Matching Forum Q&A Session 19/03/08 Betfair Customer Services 17 Mar 11:50 As announced last week we’ll be hosting a Q&A session on the forum this Wednesday evening (19th March) between 6pm and 7pm (UK Time). The purpose of … Continue reading →

Posted in All Best Posts Ever, Exchange & Market Designs, Exchanges & Markets, Market Makers (Automated), Market Makers (Human), Market Trading, Mechanism Designs | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | 5 Comments

BetFair Malta’s combo market maker (trading algorithm + human market makers) operating on the multiples

Posted on March 19, 2008 by Chris F. Masse

Tony Clare of BetFair (The Sporting Exchange) to me: Dear Mr. Masse, Thank you for the questions you submitted to tonight’s Q&A session. The session is intended specifically to address questions from Betfair customers. We therefore don’t feel it would … Continue reading →

Posted in All Best Posts Ever, Exchanges & Markets, Market Makers (Automated), Market Makers (Human), Market Trading, Mechanism Designs | Tagged , , , , , , , , , , , , , , , , , , , | 12 Comments

BetFair withdraws / improves its brand-new matching-bet logic, which was (kind of) endorsed by the Chairman of the Midas Oracle Advisory Board.

Posted on March 19, 2008 by Chris F. Masse

Via Dave, BetFair: Changes to Betfair’s bet matching logic – update Betfair Customer Services 19 Mar 10:47 We’ve been trialling a new process for matching customer bets recently which has prompted considerable debate among some of our customers. Some of … Continue reading →

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BetFair’s brand-new matching-bet logic is endorsed by the Chairman of the Midas Oracle Advisory Board.

Posted on March 14, 2008 by Chris F. Masse

- The Sporting Exchange executives and shareholders will be happy to know that economist Michael Giberson has given his stamp of approval to BetFair’s brand-new matching-bet logic. Wow. They’ll open Champagne bottles in HammerSmith, tonite, when they know that. If … Continue reading →

Posted in All Best Posts Ever, Exchange & Market Designs, Exchanges & Markets, Mechanism Designs | Tagged , , , , , , , , , , , , , , | 31 Comments