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Yeah, I got gubbed everywhere in the UK as well. When Betfair first came on to the scenes the traditional online (and offline) bookmakers were like fish in a b
by nly 1y ago
Yeah, I got gubbed everywhere in the UK as well.
When Betfair first came on to the scenes the traditional online (and offline) bookmakers were like fish in a barrel for arb bets.
I still remember when the first major bookmaker (pretty sure it was BetVictor) started tracking Betfair markets automatically. Now they all do it.
- skippyboxedhero 1y agoBookies in the UK never set prices, apart from parlays (which are admittedly a growing part of the market). Even in the early 2000s, it was Asian books that set lines and tech just made it easier for them to access. Margins have gone from 20% to 2% (or lower) because bookies can confidently set lines a few days before the event. Also, their tech even today is still dogshit. It looks like they are tracking Betfair prices but most bookies use third parties for pricing, OpenBet for example, and so it is usually the third party tracking. There is still inherent latency so the main tool has been delays and limiting certain customers. This is why ppl who say they should just take any bet are idiots, it isn't a stock exchange (and most of these third parties also have massive latency in their stack too, naming no names...the stuff I have heard about how they run things is incredible).