Exchange Wagering

[Wrongly]

Betfair will start exchange wagering in NJ May 10th.

[boardedup]

What exactly does that mean?  I live in AC, Borg the only place left to play, any alternative would be of interest, thanks.

[Wrongly]

TVG will have it as well as Monmouth Park and their wagering system.
http://www.drf.com/news/betfair-launching-first-us-exchange-wagering-site-may-10

[Mathcapper]

Good to see this finally getting off the ground in the U.S. -- been waiting a looong time.

It not only provides horseplayers with an avenue to get potentially better prices via the lower takeout structure, but it can also provide some terrific arbitrage opportunities.

Provided of course that there\'s enough liquidity, which I doubt there will be for quite some time, given that the exchange is limited to NJ residents at launch.

Wouldn\'t be surprised to see 4-1 shots on the tote at 5MTP being bid at 8-1 and offered at 5/2, which is not going to cut it.

And that 12% commission on winnings may sound appealing relative to the standard parimutuel WPS take, but it\'s absolutely egregious compared to Betfair\'s U.K.-based exchange, which I believe is 5%, with an up to 60% discount rate for high-volume players.

A step in the right direction at least, but it may die a quick death without broader reach.

Maybe someday...

[Topcat]

Mathcapper Wrote:
-------------------------------------------------------
> Good to see this finally getting off the ground in
> the U.S. -- been waiting a looong time.
>
>
>
> And that 12% commission on winnings may sound
> appealing relative to the standard parimutuel WPS
> take, but it\'s absolutely egregious compared to
> Betfair\'s U.K.-based exchange, which I believe is
> 5%, with an up to 60% discount rate for
> high-volume players.
>
> A step in the right direction at least, but it may
> die a quick death without broader reach.
>
> Maybe someday...


Have already made this point at length on other venues.  The size of the markets is a huge concern (especially given the limited range of options), and even during Betfair\'s sustained days of stateside exposure, a goodly number of what most would think are high-profile sporting events offered astonishingly thin markets.

I hope it works, rootin\' hard, but as I\'ve referred to elsewhere regarding the potential of Jersey sports betting . . . if the retail price is an insult from the outset, it will take little or NOTHING from the illegal market.

[kevb]

Does Betfair pay a fee to the race tracks?