Ever wondered why betting exchanges allow winning customers but don’t really like them? In this video, Caan explains why betting exchanges like Betfair, Smarkets, Matchbook and Betdaq don’t like betting professionals.
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This video explains why betting exchanges don’t like winners but does allow them.
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Will they tax you if you win a lot but do not take your money out and just recycle it.
What if someone is betting a lot (and winning a lot) but not pulling money out?
Would you get banned from bookies for placing bets just using fundamental analysis of sport your betting on and making good wins long term rather than using a mathematical strategy?
Had an account with never more than $400 USD in it at Matchbook. Send in all the info asked for and got approved. Was enjoying it for over a month. Then things got super strange. Im not even ahead on the account, and all of sudden I get an email requesting more identification and a significant amount of tax return documents and if I didnt comply my account would be closed.
I sent the passport copy asked for but said I draw the lines at the tax returns and this has become more laborious than enjoyable.
I said I could see the request had my account approached 5 figures but to instead close my account and transfer my remaining balance to my Skrill.
What I did not expect is a lengthy ghosting of my request to close the account, after being locked out. Not a good look so far gents. I hope to hear from you soon.
This problem is solved with Blockchain, liquity is no longer a problem and with the various organization possible the players basically govern the site/app.
All but the most gross moves a bookie company can throw at you is stopped cold with defi Blockchain, also the currency is truer actually holding value if not gaining.
I think it’s not really liquidity as long as people are betting they don’t care they add the premium fees because they can. Does not matter how much liquidity is there they still get there percentage win or lose. I don’t get what you are saying exactly. They only get paid if bets are made ( besides certain fees which I believe they levy because they can- hey our platform is making you a constant income give me a little extra and they do) . I really don’t get it give me an exact example .
Hi Can .is it just me has Betfair exchange slowed down since it's crash last week .
Ideally the exchange want everyone to break even. Money keeps going round and they earn on it. Successful traders/ punters take a profit and remove money from the pool and continual losers will eventually stop. When you talked about FI you said there was no tangible asset involved, the same is true of these platforms, so for every winning bet there has to be a loser. Eventually those losers will pack it in and then no one can win.
Someone once said "Don't understimate the mugs" and I didn't get it at first…. But we need the mugs… otherwise who can we take for a mug if there aren't any….
If this is a problem with exchanges, then who is the best out of the options? Is it possible to be profitable in the long-term or is the deck stacked against you?
I love using smarkets as I am on 0% commission🙂
What a difference a few months make , having read your recent twitter tweet
Nicely explained Caan! I've been saying a very similar same thing for years and no one believes me. it's true exchanges make far more commission in the long run, from punters over successful traders. The premium charges are really just designed to try to relevel those long term profits to a certain degree.
What if someone just places a single bet per game and successful? Exchanges hate this type of punters too?
Super video
The only reason they wouldn’t like value winners is if they are acting as exchange and sports book at the same time.
When the prices are matched they don't care.
In Greece they used to publish the life stories of the big winners. The granny who copied the lucky line from the weighing machine. The blind man who won 200 mil. The brick layer who won 300 mil. Then a small boy whose parents won the lotto was kidnapped by his aunt and they stopped doing that, but nevertheless they were happy with big winners.
Nowadays if you win something they try to snatch it back with some dreamed up excuse.
Hi Caan, Not sure if you already do, But have you looked into being a tipster on Copybet?
Liked n subscribed !! all the way from the land down under aka Australia !! I've got my mates into watching your videos and now they're hooked aswell !! Cheers brother for the videos and knowledge means alot bro
I seriously start to think if there is a way to run a Exchange honestly for the customer. I've been thinking many times of starting a Exchange business because I feel like there is still a lack of fulfillment for traders (especially those who are winning). I totally get that companies are here in the first place to make money and to be successful, but I wonder if this is a greed thing or something that can get a company out of business.
You got any windows in that place?🤣
I just opened an account with a bookie and I tried to get my sign up bonus with company and they replied " Due to a change in UK gambling commission regulation, we are no longer able to credit the bonus to your account. This is beyond our control and as we have a duty of care to our customers, we must adhere to these regulatory changes with immediate effect.
Is this some kind of joke? It's getting absolutely ridiculous. Duty of care? Utter nonsense
I'm from Spain. Spanish government takes up to 50% of my net winnings each year, Betfair takes 2%, wallets takes another 1.5% & one more time Betfair takes another high % in my middle-term winnings. So, I'm trading thinking I'm Xiaomi, betting a lot, trying to win with a very low margin to live 😂
They don't like winners because winners take money out of the pot, or ecosystem.
I still think betfair offer a different class of product to the others although customer services are worst out their.
will they close my account if i keep winning. I am really worried Caan? Because betting exhange is source of my income.
you do talk a lot about problems in the main sites caan which I admire ..how about these one .. link from the news
https://www.theguardian.com/business/2021/jan/22/betfair-apologise-after-keeping-punter-100000-pounds-out-of-pocket-for-months
comment on these 1 caan ? how outrageous and scammy is that from betfair?outages of service , site down , not accepting lays, customer service is faking dreadful …but …unfortunately they own the market.
Sounds like you're still sore in the arse from your loss yesterday
Not sure where the premium charge goes, but I guess its better to pay this than getting barred. I watch videos of punters who have been around for years and they all say that liquidity is much lower on betfair these days. I know people will disagree but I think think softwares such as bet angel which allow people who often have limited knowledge about sport to win are not good for the general betfair community. Remember that for every winner there is a least one loser. Eventually betfair could be left with a majority of traders and bots who will be competing against each other and winnings will be hard to come by if the casual punter is no longer around in numbers.
Sadly Its all going to become irrelevant . I had a call from the responsible gambling team after depositing just £10. I am sick and tired of being asked to produce bank statements and source of funds just to place a bet. Its becoming tedious. All because of do gooders who want to interfere in my life. Take me back 15 years when you could do what you wanted as an adult
Surely you are sponsored… Sponsored by Superdry 🤣
Obviously they don’t like winners. If they did, the premium charge wouldn’t exist. And remember….it’s not really betfair anymore, it’s paddypower
Cheers Caan for another short interesting video and theories with regards winners on exchanges, Actually I think it safe to say that Betfair Sportsbook was born for the simple reason of offering worse odds to the customer and offsetting it against the margin on the exchange, meaning that whatever the current exchange price, mr software plugs in a few ticks, a few well maybe a lot of ticks off and bang there is their profit margin secured for shite prices on the sports book. not 100% but something along those lines!
I stuck at it for 14 months as a value bettor. You can get value and win a steady amount but TBH I switched to Forex in the end as the liquidity is infinite really. The trick to making money with it though is not to confuse it with betting as it is a different animal.
Interesting video. I recently got hit with the 3% on Smarkets which makes that exchange redundant for me now. Also had some angry emails from matchbook threatening a 5% transactional charge for trading their enhanced specials market – they put the markets up but don't like it when you provide liquidity and step on their toes 😂
Smarkets and to a lesser extent Matchbook moreso than Betfair or Betdaq will close your account if your having an effect on their market makers. Keep up the videos Caan content and volume since lockdown been excellent !
Betfair need to start using the premium charge money to improve their site & streams
Oh those that regularly gain from either ARB, getting better price, or spotting value. Yes as a motor dealer I hate it when I set price wrong and somebody burgles the car off me, profit or not, there was more profit to be had
Using exchanges for regular, straight betting is better because you generate more commission. In traditional betting you can easily get 100 (€/£) so the commission generated directly through that bet is way better than someone winning 100 in different events. Also you can lose those 100, or 200, that's irrelevant because that person that took your bet might be trading, so he might throw more money to hedge his position, that doesn't generate decent commission. I trade in-play and regular betting in the exchanges so I think I'm a likeable customer and I'm most likely to never get extra-charged, I don't use Betfair points either, I pay 6.5% commission on winnings, that's a nice cut I think compared to the regular 4%. The trick to avoid getting premium charged is generating decent commissions with regular bets and trading in a minor degree when compared to the betting activity