5 ms·
They claim the market is inefficient. I worked for a company that to some extend fixed that. Can't remember all the details (I worked on a different part), but
by maaaats 9y ago
They claim the market is inefficient. I worked for a company that to some extend fixed that. Can't remember all the details (I worked on a different part), but something like this:
Most big betting companies were customers. They all continuously sent their updated odds to us, and we would broadcast to the other companies. They would react to the change based on certain rules and send new updated odds back to us. This would then converge.
The inefficacy comes from promotions, company X always wanting to have odds .1 better than company Y etc.
Edit: Not sure how it works now, but:
https://www.betradar.com/ https://www.betradar.com/ and
https://mts.betradar.com/ https://mts.betradar.com/
- repsilat 9y agoHaha, this exactly describes arbitrage. My old company was "sent ... updated odds" (well, we scraped their sites often...) and "we would broadcast to the other companies" by betting on those other companies' sites when the lines crossed, and "This would then converge" because one of the bookies in the arb would move the odds after we hit them (or after we hit them a second or third time...)
- maaaats 9y agoYeah, but with the difference that they pay a flat fee for the arbitrage through a third party, not leaving money on the table for others.