Petition Betfair.

[doubleback]

So here is the petition to be signed if you are sick to the back teeth of Betfairs treatment of it's customers,

especially due to markets becoming 'Suspended' due to 'technical problems'.

The petition represents the views of Users_ of AGT and not The Geek_ himself and is also open to users of other trading platforms.

Sign The Petition

[theman73]

allready done

[Quo]

Done!

Love the '******smissus' contribution too, hilarious!

[doubleback]

Vote Now!

Done!

Love the '******smissus' contribution too, hilarious!

I particularly liked the Nugget crews contribution!!

Nevertheless, in the grand scheme of things, we are holding our own, we need more votes though to drive the message through to BF...

[PesceLesso]

C'mon forumees and lurkers!!

sign the bloody petition, what are you afraid of? evil

PS: I'm actually considering to start pestering all the forums and sections with links to both this thread and the petition page...

even in other forums around the WEB

one thing though: I have to agree with jibiko that it might not had been the best idea to sign as AGT users...

never mind, what's done 's done, all my thnx to doubleback for the initiative..

I'm talking to you, anonymous wannabe, newbie or disgustingly rich trader:

SIGN THE FRIGGIN' PETITION

[jibiko]

http://community.betfair.com/general_betting/go/thread/view/94082/27237349/petition-betfair

Bump it up.

[luckynumberslevin]

So here is the petition to be signed if you are sick to the back teeth of Betfairs treatment of it's customers,

especially due to markets becoming 'Suspended' due to 'technical problems'.

The petition represents the views of Users_ of AGT and not The Geek_ himself and is also open to users of other trading platforms.

Sign The Petition

Cannot sign as I don't agree.

A stable platform is needed with either a basic version or mirror back up. At the moment the situation is not fair to those entering both sides of the book but your way can punish the straight punter or layer instead. Think about it in terms of winners and losing runs, there money back isn't the same as your money back. And I personally can't see betfair wanting the punters to leave.

JMO

[doubleback]

Cannot sign as I don't agree.

A stable platform is needed with either a basic version or mirror back up. At the moment the situation is not fair to those entering both sides of the book but your way can punish the straight punter or layer instead. Think about it in terms of winners and losing runs, there money back isn't the same as your money back. And I personally can't see betfair wanting the punters to leave.

JMO

That is your opinion and i respect that, however, i reckon that betfair's customer base is 80% trader money versus 20% punter money (this is debatable), the two groups feed of each other,

the punters enjoy the liquidity to get their bets matched as do the traders, i believe the common consensus is that betfair is primarily a site for traders and that punters should realise that fact,

i understand your points and there will be many traders who after yesterdays 'goings on' came out on top and the question would be the same for the punters who had a winning bet,

would they want to forfeit their winnings to keep the unlucky traders happy who had an open trade that they could not close?

Or should it be the case that in the event of technical difficulties seeing as the larger portion of money is trader money, that the traders should be kept happy and the market voided and the stakes returned,

after all, the punters would struggle to get their bets matched without trader money and the punters would simply have a voided or 'non-bet' versus the trader losing his stake,

i think this is the lesser of two evils IMHO and a much fairer way for proceedings to commence.




Betfair - Apology and explanation

[Cran]

Betfair - Apology and explanation

since February 8, 2011. During periods of increased user traffic, our customers would experience this issue in the form of slow navigation or a "sticky" user experience.

That possibly explains why it has been taking 2 mins per race to load the results pages when I'm doing the naps results and why my web scrape app takes so long to get the BF data.

If it gets quicker I can do the results more regularly

If what they say is correct and they fixed it then it should be back to normal soon... I hope so as I made sweet FA last month and so far sweet FA so far this month

On the plus side it's giving me more time to practice Guitar Hero, but I'd rather be making a few quid...

[costas]

Done. evil

[freeeasybets]

A view of Saturdays fiasco......

http://www.fulltimebettingblog.com/2011/03/14/betfair-saturday/

[luckynumberslevin]

i think this is the lesser of two evils IMHO and a much fairer way for proceedings to commence.

Yes I understand how betfair works but I cannot support a lesser evil unless it was a fudge solution whilst levelling the playing field.

[jibiko]

Dear lucky,

If I understand correct, your argument is the following:

...your way can punish the straight punter or layer instead. Think about it in terms of winners and losing runs, there money back isn't the same as your money back.

If so,
I think that your argument is invalid.


Let's isolate and see it, inside a betfair environment solely.
Betfair=Exchange=Gambling.
There are three ways to make money from gambling, inside Betfair:
- Backing,
- laying,
- trading.

In the current state (after their technical fault)
pro backers and layers don't lose money.
Only pro traders can lose money (if they happen to have open positions).
If they void the markets (because of their technical fault)
noone loses money.

I can think about it in terms of winning/losing streaks, as you say.
At first winning and losing streaks are random.
You don't know when they wiil come.
You just know that they will come.
They are not based in exogenous factors such as
a technical problem on betfair's site
that can result in void bets.
The streaks are irrelevant to the number of void bets cause of technical probs.
The number of voided bets is just a small part
of their overall sample of bets to have such a significant impact,
so as to define their yearly balance.
The bigger the sample, the safer they can feel.
I think, in general, pro backers and layers are based in quantity also.
If it happens that your yearly balance is based on 100-200 bets though,
then even a 10-20% decrease on bets, maybe give you enough problems to kill your edge.
But, if you are based on such a small sample per year/season,
then you are open also to the danger to not be able to absorb a losing streak
(or worse 2-3 losing streaks that come close enough together)
and come back to green figures, or green enough to cover your yearly expenses.
So your method is already in danger, and maybe false also.

Check also Pesce's thoughts on this matter...

...since they claim to be an "exchange" the same principle as any other "exchange" should apply.

if the punter comes to BF, knowing it's an "exchange", he/her should be aware of the risk that, if technical problems arise before any market runs to its natural expiration, he's not going to get any winning, he will just have his/her stake returned and that's it.

similar events in the commodities and derivative markets, when it had been proven that crashes were due to patent inadequacy of the means (there including negligence of those appointed to have said means working) the Clearing Houses have always voided all the transactions that have taken place in the time shortly before the system crashes, sometimes back to the whole f*ucking trading day.

PS: to be clear, when I say "crashes" I'm referring to hardware (or any other mean that warrants the correct functioning of the Exchange, that is that warrants that all the rules and guarantees for all the parts involved stand) crashes and not to financial quakes or else

...unfortunately we are suffering a lack of pertinent rules, third party rules I mean (not that BF crap).
the exchanges in UK (and the rest of the world for that matter) have to undergo the scrutiny of the FSA and abide to the general rules and laws.
here at the best we have the gambling commission which is not (properly) suited to handle matters going on in an environment such as an "exchange"

Now...

If we de-isolate it and see it outside from betfair,
then there lies a problem.
It's the arbitragers or an arbitrage/trading hybrid type or just traders
(I don't know what is the correct expression).
People (or even companies) that back outside (in bookies for example) and lay in betfair.
They are the only ones that could get hurt, maybe.

But, when they were building the sports exchange,
I don't think they had in mind this type of people.
They had in mind: backers, layers, traders.
I think that it would be naive to think
that they didn't think of traders also.
Every exchange so far has its traders.
Why this should be different?

Jews have a saying, that every businessman who respects his business follows:
"Don't let, even the dust of the client to fall".
And Betfairheads have proved that they are good businessmen.
That's why their banks are fully loaded by now.

In the way that they have made their contract
(which is a total disgrace imho),
they fit in all the types of clients and
secure their asses 120%.


So, what do you think?

[luckynumberslevin]

I've read the 1st part jibiko and the last line and nicely put (a 5* effort ) - I'll read the rest during the remainder of 2012.

OH and I don't think Jibiko - I do, I do

[jibiko]

Let's go buy the ebook betta. We wee bee rich .