After a bit of a sabbatical to try and work out some new strategies I am back. I thought I would be clever and try and arb between Betdaq and Betfair to work up some commission points but something odd happened. When I put positions on, it turned out a lot of them moved into profit anyway in both directions. I quickly realised that by closing out and repeating I may add to my total and that's what happened. I also had another problem, I kept winning on Betfair and losing on Betdaq. This doesn't work now as Betfair will take 20% of my winnings despite the fact I am trying to rebalance the position. So I have abandoned that strategy. I squared off my positions on Betdaq and will have to go back to the drawing board.So I've had a very lucky week but, of course, Betfair are going to take £1k for that. I am still astounded that they have introduced such a charge.
5 comments:
wow what an excellent week. This weeks is nearlly £1000 more then what your last highest was, what did you do differently if anything?
A great result...spoiled by Betfair availing themselves of £1K. I hope this really bites them in the **** and that they live to rue the decision. Let's face it they have never been client friendly and never listen to us. I have complained many times about erroneous amounts and it's like water of a duck's back to them.
They claim to have done the math on this but I wonder if they have accounted for the human factor i.e. how everyone feels and what would happen if they withdrew their funds and migrated to Betdaq?
It's okay for the bean counters to propose these blue sky thinking plans but they never consider human reaction.
I also cannot wait for the Betdaq version of Bet Angel in the hope that I can stick two fingers up to Betfair and withdraw my money for all but the odd event.
Raped by Betfair is a good term. On a profit of £4K in a week, they would have got a pretty good commission rake off anyway. At a time when money is tight, Betfairs new charge may prove to be be their undoing. If Banks fortunes can change so quickly, then I'm sure Betfairs will too.
Fools and money eh?
G'day and congrats regarding the great week\year. Yes its a shame to see what was once the best thing to happen to the punter in Betfair join the ranks of so many other companies around the globe and turn into just another overly money hungry American style corporation. The poor buggers must not have been making enough money already. The sooner there is a Betdaq version available the better. Maybe "Betfair" should also have a name change, one more fitting to what they have evolved into. Anyway great work and good luck in the future - John.
"what did you do differently if anything?"
I think I mentioned that in the blog. I was experimenting and just got lucky.
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