Ready? Exchange… New Advert. Now What?
I’m shocked. Are you?
The new Betfair Ready? Exchange advert has surprised me. Are they really interested in promoting the exchange again?
Over the last few months I’ve noticed a few more efforts from Betfair to promote the betting exchange. The biggest being this new advert.
Are things set to change?
Over the last couple of years it would seem as though, from the outside, Betfair only cared about sending people to the Sportsbook. The latest advert showing jousting knights and wild deer going head-to-head would imply otherwise. Hopefully it’s not just a fad.
I really don’t want to put a negative spin on this, it’s a great play for longer-term business as far as I’m concerned. Betfair rose from nothing quickly through the innovation the exchange provides. Betting on the exchange has been the best thing that happened in my life, ever.
But more has to change if they are to truly succeed when marketing the exchange. Premium Charges will be a massive problem for them if they put any real weight behind it…
The Betfair Pro Traders Campaign that I featured in was a great idea. The problem being, many were quick to criticise when they started a ‘show us your green screen competition’ with comments like “wave your dick for Betfair”. Nearly all the disgruntled comments were from premium charge payers (or those that weren’t profitable enough to be picked to take part).
I have to admit, my first thoughts when watching the advert:
- What about the consistent exchange and API outages? It seems to be every few weeks there is some form of problem
- Why did both deer have antlers? It implies all competition is equal on the exchange. Up to 60% premium charge for consistent winners is the reality
- Did Betfair cut the winning knights legs off after recording? That’s what they do with up to 60% premium charges
Negative I know. But having paid tens of thousands to Betfair in premium charges myself it leaves you feeling this way… something for Betfair to think about.
I sincerely hope things improve for all and there are many more adverts.
Pushing the exchange is probably the best way they can continually dominate the market in my opinion. However, if they continue to push the exchange without even listening to the army of premium charge payers then complaints will continually increase. I’ve noticed personally that the poor guys manning the Twitter Helpdesk get a lot more abuse than they used to each time a problem occurs.
Despite giving them a hard time myself on occasion I really feel sorry for them…
Premium Charge Trials…
There’s been plenty of talk about changes to the Premium Charge recently too (the additional commission you have to pay for being a winning exchange customer). Maybe the merger with Paddy Power wasn’t all bad?
Still there’s no official change, although it’s encouraging to see. Betfair must be finally realising the anti-marketing message the Premium Charge brings to its exchange users. Often killing people’s hopes and dreams before they get going.
I honestly hope this is just the start of a refreshed approach to business, well done Betfair…
You can watch the full Ready? Exchange Advert here by Betfair:
What did you think about the new advert?
Top Post: 3 Horse Racing Trading Strategies
Couldn’t find the link to watch Betfair’s video! Schoolboy error? LOL
It at the end of the post? Works fine…
The one thing I’ve found in my short time is, if you use Betfair exchange site you won’t always get matched fast enough. I’ve tried to lay football matches and I get a 15second countdown. You can use software but they predominately cater for Betfair, unless you pay more for betdaq software. So the punter is stuck by the monopoly that Betfair have. I’ve even tried Smarkets but that is just the same as normal betting only the commission is 2%.
Great post Caan. I hope this is the start of a change. Betfair seem to be ruining the best thing they ever had with the premium charge levels
i wonder if the premium charge was introduced to dissuade a few massive players from chomping up all the smaller players and making it even less competitive or intersting to new entrants
they will not stop with the premium charges, why should they if they make tons of money with that and people still bet on it . Maybe you guys are not aware , but Pokerstars ( the giant of poker online) did the exact same thing , they have about 95% of the customers that play poker online , and about 3 years ago ago , they made a drastic change in the VIP system that cuts off around 100/200k in perks, per year for the top professionals , many quit to play as professionals , it is what happen with betfair , they do not want big winners , they want more recreational players , to attract more customers , and they want the big whales to just play/trade once in a while.
It generates more profit for them in the long term , I have no hope in them , I trade on betdaq ,very occasionaly on betfair , they are shit
This is a great move.
For so long I’ve moaned that they spend fortunes promoting the sportsbook, but never bothered with any real campaign for the exchange. This signals change for sure – someone has finally realised that the exchange is their USP in a clogged up betting industry.
I agree they need to drop PC, but this is still a great development. Well done Betfair!
Hey man. Is there any other bookie(not exchange) then bet365 that offer in play betting on horse racing? Just got limited on bet365:/
not that I know of Sven… never tried though.
great article caan the concept of winning has always been what gambling is all about how can these charges be justified just because someone has the lion share of liquidity its pure greed from people who treat you like you are on the bottom of your shoe because you are clever .the bbc this morning reported that the goverment are looking into internet transparency of betting advertising gimics maybe in the future we might get a rebate or they will get a massive fine for there make it up as they go along rules ?