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I was hoping that the World Bet Exchange would of attracted a few regular punters from Betfair, but that does not seem to be the case. The Betfair markets for the races tomorrow at Kempton are around 105%; WBX’s markets don’t have an overround yet as some of the horses do not have any back and lay prices and there has not been a penny matched on any of the races yet! Even around race time, there is very little activity, with only a couple of thousand being traded.
I wouldn’t like to speculate, but at this rate the WBX cannot last long can it? Is it just the lack of liquidity that puts everyone off, or is it too much messing about?
If you ran the WBX how would you try to counter this problem?
If they had used part of their marketing budget to seed the racing markets from day one they would have had a chance of attracting some business. As ther have missed the opportunity they but be long odds against surviving.
Perhaps having some vague business plan would have helped them.
Not a good platform. Some rubbish forum. No method of attracting people to them over betfair.
A very poor effort.
Seeding markets would have been a good idea. Now I would be employing some whizzkids to ‘transfer’ liquidity across from Betfair. It might be an artificial means at first, but the only way to increase liquidity is to increase liquidity, and the end is nigh otherwise…
At 7.30am:
RP Chase, Kempton<br>Betfair t/m 143,000<br>WBX t/m 30 quid!
Ireland v England<br>Betfair t/m 321,000<br>WBX t/m 2,900
Quite hopeless.
They need to come up with some reason for punters NOT to bet with Betfair. Having the same terms and conditions is useless.
It’s an uphill struggle now though.
Mike
They need to come up with some reason for punters NOT to bet with Betfair.  Having the same terms and conditions is useless.
Very true.
As was already known, customers value liquidity far higher than they value 1 or 2% off the comm rate.
And there was no way that, in it’s fix 6 months, WBX was going to be able to challenge Betfair on liquidity (even with seeding).
So, rather than hitting betfair head on, they had to come into the market wherever betfair is weak.  ÂÂÂ
I’ve not seen any evidence of this. So, it’s no surprise that they’re struggling.
Now, what I’ve just written is hardly groundbreaking business insight.
So, when I look at the huge amounts of money they’ve spent (£millions, I believe), I can’t believe that no-one – particularly one of their investors – stopped and said:
"wait a minute, you’re planning to enter a market where you’ll have a massively inferior position against a rich, well-run competitor who dominates the market?
… are you fekking mental .. or do you just enjoy p**s<br>ing your money away?"
Steve
(Edited by stevedvg at 12:13 pm on Feb. 24, 2007)
Well WBX are not going to win any awards for customer service so I don’t really see what they are bringing to the table. For a start, it takes about 7 days to set up an account as they need to verify your email address, your home address, your age, and your card. Then to cap that, if you do win any money you cannot withdraw your winnings back to the card; you can only withdraw what you put in. What odds will someone give me that they service to the end of the year?
Quote: from FlatSeasonLover on 10:00 am on Mar. 7, 2007[br] Then to cap that, if you do win any money you cannot withdraw your winnings back to the card; you can only withdraw what you put in. What odds will someone give me that they service to the end of the year?
Is that really true? So you can’t actually ever win any money?! Surely not…
You have to set up a bank draft for the rest, which is obviously very time consuming and so basically enocurages you to keep your funds sitting there.
You have to set up a bank draft for the rest, which is obviously very time consuming and so basically enocurages you to keep your funds sitting there.
That’s mad.
Pick up gun. Locate foot. Fire.
Steve
(Edited by stevedvg at 1:39 pm on Mar. 7, 2007)
LOL. It is pretty stupid as you think they would try and hold on to the few customers they have actually got from Betfair.
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