Last month many of you requested that I get a Betfair onto the industry insider calls over on our YouTube channel.
I didn’t think it would happen so I was pleasantly surprised when the UK and Ireland sports director agreed to come on and answer questions directly. It’s a rare opportunity that we don’t often get as a community…
Betfair Responded: UK&I Sports Director Answers Your Questions…
I specifically picked the most important questions that were of interest to customers who are using Betfair’s Exchange.
The main topics we picked up were:
- Betting Exchange liquidity and growth
- Account suspensions and deposit restrictions
- Premium Charges allowances and changes
- Exchange outages and technical problems
- Foreign access and Betfair Exchange
- Reduced in-play time delays
- Customer service problems for Exchange users
Here’s the video call in full:
Some viewers may not be up to speed with some of the topics we discussed so we have provided additional links and references below.
Betfair Exchange Simulator:
The Betfair Exchange simulator is exactly what it sounds like. You can rerun previous markets on the Betfair Exchange with virtual balance. There are previous markets for football and horse racing available with live video options. Training mode with a third-party vendor tool is better in my opinion although I can see how this tool could entice new exchange users, or at the very least, increase their confidence using the exchange.
Betfair Community:
As Richard said on the call Betfair and now looking at direct feedback from customers, so make sure you share yours via the correct community. They are sending out the new community invites via email so be sure to check your inbox. When leaving feedback, try to remember that the person reading your suggestion or question might not be seeing things through your perspective. In my experience, clear and simplistic wording is thoroughly underrated.
Account Problems:
Over the past six months, many users have experienced account and suspension problems as mentioned in this article here. As Richard said within the call, Betfair leadership are aware that some customers have been wrongly affected. If that’s you, be sure to make use of the contacts suggested. However, it’s worth remembering that previous self-exclusions and the like are different issues.
Charges Structure:
Many of these blogs readers will already be fully aware of premium charges. However, if you are not or you don’t understand the qualification criteria you can find out more about that on this link here.
Time Delays:
Time delays are an integral part of in-play exchange markets. In the past, people have contacted me about the issue I mentioned within the call although I can’t find any specific evidence within my previous recordings. To that end, if you do have a recording of the suspected issue that I mention, please forward it to me as soon as possible so I can get it looked at.
Our Conclusion:
In conclusion, I think this call was a step in the right direction for both Betfair and long-term customers. Regardless of your activity, be it Betfair trading, Matched Betting or Arbing, I would encourage you to share feedback. Hopefully, there will be some changes to the points mentioned in the near future as it seems that Betfair leadership are adjusting their strategy. Obviously, I would like some changes now as would many readers, although direct answers and acknowledgement of some issues was a refreshing change.
Thanks to Richard and Betfair for listening to us all as a community.
Similar Call: Smarkets CEO Jason Trost Video Call
22 thoughts on “Betfair Responded: UK&I Sports Director Answers Your Questions…”
Hello Caan Berry, hope you’re doing well!
I’ve been following your work for several years and I would like to thank you for all the info you’ve given me. This is a great video and it’s nice to see that they’re planning to make some decent changes.
I’m Portuguese and unfortunately will have to move to a country where betfair is regulated. Talked to a few people and the UK after the brexit is now a bit harder to move to. I tried to talk to Betfair in the chat several times but they didn’t really gave me a decent answer. Do you know where is Betfair regulated and uses the same liquidity as Betfair.com? Not like Spain and Italy where their markets are restricted to their people and have much less liquidity. I was thinking about Romania but they seem to have no ideia what I’m taking about in the chat. I hope I’m not bothering you too much…
Thank you!
Betfair and now panicking because they neglected the exchange too much it won’t come back there’s a conflict of interest the sportsbook. To promote the exchange would hurt their bookmaking cash cow
Nice interview but taking money out the exchange automation cross matching and premium charge takes away the good PR the customers once generated. To stop liquidity dropping and encourage growth they have to let the small man win because he will tell people and be like you and Peter Webb do. Without it the exchange is doomed and no amount of ‘road to Cheltenham’ adverts will save it. Bert and Ed were so successful because I thought long term and created a product that was good for customers, not their shareholders.
I agree with many of the other comments, it was very good of Richard to do this and nice to know they are listening but I don’t think they’ll do anything different. To improve their product they would need to take less margin with a longer-term view on improvement which isn’t in the best interests of short-term company profits. Blaming regulation and affordability for closing accounts is shameful.
I think there is a suggestion in that this is like when I told my friends about matched betting. I would say “this is great because you can make money” but they would say “no it’s not you get restricted after a few bets” Betfair trading is the same why would I tell my friends about Betfair when they turn around and say but you have to pay premium charge if you win. Betfair has to believe in their own exchange before they can expect their customers to.
I was one of those people that used to sing Betfair the praises all the time. I built my own website and got an affiliate account as a partner with them for a number of years, then one day they close my affiliate account and stops paying me for the customers that I had referred with no explanation.
Now if somebody mentions Betfair I tell them to avoid at all costs, I hope they read this feedback.
I appreciate the sentiments in your efforts Caan it’s a really good show on your part but Betfair don’t care about the exchange or their customers all they care about is losing market share.
If they want to stimulate exchange growth they need to make it crystal clear for customers that using the exchange is a better proposition for them. The marketing that Richard talks about focuses on how to use the exchange and how to place a lay bet and nothing to do with value or a good proposition for the customer! People don’t care if you’ve got Clive Owen with some peanuts on a bench explaining what a lay bet is they care about winning money it’s as you rightly said what made the exchange famous in the first place.
Betfair should be having targeted campaigns promoting the exchange that highlight other bookmakers refusing to take bets limiting winners and generally not being the best proposition for the customer. Instead they’re too busy messing around with Clive and his peanuts!
These comments are depressing but predictable. Betfair needs to sort it out if they want to have a successful exchange in the future.
Nice video but I think we have to face facts here is never going to go back to what it was and certainly not better than that. Betfair just want to keep it on life support to stop matchbook or smarkets getting in the door.
I gave up when I hit the 250 the couple of years back, the effort involved to become profitable isn’t worth it when they’re taking such a big chunk.
If Richard thinks they are going to improve liquidity and customer opinion he is fooling himself. Betfair has dug their hole and won’t be getting out. Circa 2012 sportsbook implementation they had their customers recommending it and arguing Betfair’s corner when faced with rebuttals.
I’ve watched your website progress from the sidelines for a long time, Caan. As somebody who pays premium charges, I think you and Peter have done well to swim against the tide for so long. I’m confident you wouldn’t have bothered if it were not for your products.
Betfair customers don’t do Betfair’s marketing work anymore they do the complete opposite because they are treated so badly. Adam Todd, Adam Heathcote, Cran, Mets, JimRobo, Millionaire Fund, Peter Le, Jack Birkhead, Mark Iverson, Steve Howe and many others who used to promote Betfair have all ceased. All of those people were making money but I believe you and Peter are the only ones that are left now, instead Betfair has a sea of scammers and fakes promoting them. It’s a shame but it will never go back, or show in their KPI’s.
Fair play to richard for being bold enough to come on, enjoyed it.
Nothing said about VAR and different settlement for the same sequence of events 🙁
It makes you feel like they are serious in growing the Exchange, I hope its possible.
Interesting about getting punter multiples and accas on the sportsbook. Feels more like getting punters on sportsbook and letting them use the exchange if they are restricted.
Good to hear some answers from the horses mouth.
I agree with TRJ22.
It would be good to have Richard come back in 6 months time and see what has changed, if anything.
I will wait until they change the premium charge before I bother spending my time on the exchange again.
Good effort but nothing will change because they would need to take less profit and they aren’t going to do that. The marketing campaigns are weak and they know it where is the unique offering? its like they try to hide it or something.
i have been restricted to 30 40 pence on sportsbook my stakes were 20 pound if a bookmaker can not take a 20 pound bet they should pack up or do they just want the casino players its a joke wish someone would put site up so people can see whats really going on then maybe just maybe bad publicity things might change but i wont hold my breath ( got in touch with betfair about it was told something like your lucky we have the exchange were you can bet says it all )
Hello Caan, first of all I want to thank you for all the information and advice provided. I’m doing an investigation. I’m looking for information on which sports are the most traded and move the most money on Betfair (or other exchanges). On the other hand, I would like to know the commissions of each one, do you know where I could get this data? If anyone else has this information I would appreciate it if you could let me know. Thanks a lot!
Just take a look at the traded volumes. You can record it daily in some software like Gruss or you could pay for Betfair historical data.