Is Betfair Down? While I hope it never happens again, it’s often around peak periods that the exchange starts to creek and whirr.
With Cheltenham on our doorstep, it’d be wise to have somewhere else to hedge your liability should it happen.
In addition; there’s going to be added liquidity elsewhere, no matter what happens!
Failing to Prepare…
…is preparing to fail, as the saying goes.
A long time ago, I was in that boat for sure. Once or twice it really hurt, if this post can stop that for just one person it’ll be worth it.
How I’ll be prepared:
- Backup connection, just encase it’s actually me (not available for all I know)
- Phone betting on standby, complete with TAN (telephone account number).
- Software running on alternate exchanges. More about that below in a sec.
Having a back-up is always a good idea. Even if it’s via Bluetooth on your phone or dongle. With higher staking comes more consequences should things go wrong, having no alternative isn’t a great start. I learnt the hard way on this one. I forget when as it was so long ago but I wasn’t prepared, ended up in a real flap with my connection coming back to life just to watch the last of around £1,000 slip away.
Que that nauseous feeling…
A quick method to react is using the telephone betting service. The downside being, if you get a dippy operator that doesn’t understand the art of hedging things can get heated fast. Having a separate window open in a browser, already logged in is advisable too. Just encase it’s the Betfair API that goes down, but not the website.
Probably the most important point is back-up accounts like Betdaq and Matchbook. Again it might not be ideal for some part-time users as you’ll need some kind of balance in each. But protecting yourself is important.
It’s not just the protection side of things either. Betfair won’t be the only place that’s heavily bet throughout Cheltenham.
Brand New Opportunity?
It’s Matchbooks first Cheltenham. Last year they didn’t have horse racing markets active.
Obviously the different commission structure means it’s an unappealing proposition for traders. But there’s still likely to be some juice in the odd Arb, and the sign-up bonus has to be worth a matched bet.
Over the longer-term it’ll be interesting to see what happens with Matchbook and if they change their commission structuring. Having a geeks toy for matchbook option certainly hints at the possibility. I keep meaning to test it out!
I’d assume there’s not a lot money matched there just yet, but Cheltenham always changes that. Even the smallest exchanges turn over a lot more money. The purple side being the best alternative in recent years.
If you want the Geeks Toy for any of the exchanges you can find it here.
It’s not just good to have the other exchanges as a fall-back. With all the added betting that Cheltenham will bring, there’s extra opportunity to trade the other exchanges. Premium charge free.
Betdaq is the main rival for sure. In recent years its been quite possible to trade there too, although it takes attention away from the other exchanges for manual traders. If you’ve just started paying the dreaded PC it may be a good idea to have a dabble on Betdaq at the very least.
Turnover is increased, making life that bit easier to scalp. Usually it’s their only downfall on the purple side…
Related Links: Trading Accounts