- This topic has 9 replies, 9 voices, and was last updated 13 years, 1 month ago by
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as in the sentence:
"a string of sporting results in May went against Betfair, dragging down revenues in its risk sports division by more than 90 per cent to £300,000 for the quarter [to July 31]".
is that market seeding, or multiples, or what ?
I guess multiples
I see they are trying to persuade Breon Corcoran (chief operating executive Paddy Power) to become their new chief executive
I think it will all be small beer if they get a foothold in the Us sports section , British racing will not matter a jot then ,
The end game is close , Betdaq will prosper on the racing front , but Betfair will clean up if they manage to crack the Us market
Ricky
I think risk sports is where Betfair act as a bookmaker in countries such as Italy where they have no exchange license.
They may also accommodate high rollers directly through Malta.Cracking America has no meaning. They have to crack state by State together with abolishing Federal laws that differentiate legalities of sports and racing. So far only two States are interested. Many States already rely on gambling rake-off to fund themselves against bankruptcy so want their share maintained. Their needs mean Betfair have already announced a likely customer charge of at least 10%. That plus the 60% Betfair tax on modest winners has also gone down like a lead balloon and is viewed by Americans as racketeering. There is also the huge problem of no natural lay market, such as UK bookmakers here, to provide betting liquidity.
Robert , interesting reply , thanks , still its a new frontier, and its worth having a go …long term it must be profitable, even if it puts a few noses out of joint
Ricky
Resistance to betfair in the States will be massive.Remember the bookmaker reaction to betfair in the early part of the last decade.We are talking about a country without a betting shop culture and an extremely strong religious right wing political movement.
It is possible they could succeed but equally it could prove a bottomless pit.‘risk sports’
High stakes, low odds, global markets, corruption rife.
Football & cricket.
There was an article on the BBC about it a couple of months ago.
We are talking about a country without a betting shop culture..
http://www.nytimes.com/slideshow/2011/08/22/nyregion/20110822_otb.html
- Total Posts 17716
as in the sentence:
"a string of sporting results in May went against Betfair, dragging down revenues in its risk sports division by more than 90 per cent to £300,000 for the quarter [to July 31]".
is that market seeding, or multiples, or what ?
Multiples. I heard they bounced back the next quarter. Bet fair by far is the largest in the industry, I don’t think they could go down easily.
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