The Independent of Ireland:
Betting exchange Betfair is to steal a march on its rivals with the introduction of a new service which will boost liquidity and offer punters the chance to make bets at starting prices. Up to now, betting exchanges, such as Betfair, operated by matching bets on either side. But it will now offer a guarantee that punters can get on as much as they need, as long as they are willing to plump for starting price (SP) odds. However, the SPs offered will not be those quoted in betting shops, but prices fixed by the exchange.
A spokesman said the new service was expected to give the business a big boost. “-Currently, 40% of all bets are settled at SPs and this type of business tended to pass us by up to now,”- he said. Betfair is already the largest exchange operation, ahead of the Dermot Desmond-owned Betdaq business. Estimates put the market share of exchanges at around 5% and this development could significantly boost that figure, the spokesman said.
Well, best wishes to BetFair-TradeFair.
Previously: The BetFair Starting Prices… explained
Previous blog posts by Chris F. Masse:
- The marketing association between BetFair and TOTE Tasmania works better than expected.
- The term “event markets” sucks —and the uncritical thinkers using this crappy term suck too.
- CLIMBING HIS WAY TO THE TOP: Erik Snowberg is now Assistant Professor of Economics and Political Science at California Institute of Technology.
- Unlike other countries, the United States of America defends the freedom to offend in speech.
- The best research papers on prediction markets
- 2008 Electoral Map
- American Enterprise Institute’s Center For Regulatory And Market Studies (Policy Markets)