I will do separate tweets looking at the four main betting exchanges. The positives and negatives. The first thing to make clear is that if you are going to be successful in this game, over a longer period of time, it is highly likely you are going to have to use exchanges.
Betfair, whilst not the first exchange has been the largest and most dominant exchange now for the best part of 20 years. I worked at Betfair for over 8 years from 2004. That gives me a pretty unique insight into some of the back end stuff that goes on behind the scenes.
Betfair is the only exchange I truly trust and it is why I am and have been comfortable, leaving large sums of money on there. That’s not to say I haven’t seen or heard some interesting things over the years! All said and done though I trust them.
That’s the most important thing for me. I trust them to protect my data (exchange). I trust them to ensure it is as level a playing field as possible, regardless of who I am against. Let me clarify that. I know others maybe on more favourable deals relating to commission rates
and that is not something I can do anything about. That’s just a sensible business decision by them. I am talking about knowing I am not placing bets against Betfair and that if something happens they will be fair. Traditionally they have had the largest liquidity and that is still the case.
For a sport like golf and in running betting, the other exchanges are a complete waste of time. Betfair and its API setup are also hugely important. Its not all just positives though. The Premium Charge is something I will discuss at length in another tweet as understanding
it is crucial to long term success. The level of customer service is absolutely shocking. Given the amount paid in charges you expect a lot better. It is so bad. Nothing frustrates more than when you are told a pack of lies relating to something operationally and what happened.
When you know exactly what the problem was and what the protocols are meant to be or certainly used to be. Things like bets being matched late. Hugely frustrating but just not surprising. They treat everyone like idiots.
I shudder to think how many hours of my life have been spent staring at Betfair markets. 95% of my business is on Betfair these days. That’s the reality though if you are going to do this for a living.
ProPunting 