Skip to main content

automated bookmaking - soon there will be no-one left!

At the International Gaming Exhibition in London this week, I've been looking closely at some of the modern bookmaking systems. Companies such as BetRadar supply real-time odds feeds from over 250 bookmakers spread around the world, and then you can generate your own odds from that. Set your margins, choose the bookies you want to follow, post the prices, turn on the monitoring which tracks market changes from as few or as many bookies as you like, and you're done. Very few bookies do not take this service, although most just use it to keep an eye on the opposition in real-time, and use it to track mistakes (alerts pop up when a match start time is different to other firms) and potential arbitrage/sure bet opportunities. Dozens of smaller firms - the ones listed on odds comparison sites but you never see any of their marketing etc - do all this with virtually nobody at the controls. Other companies like Entraction and Odds Matrix can offer you a 'bookie in a box' product, a white-label service that can be entirely automated.

Fascinating stuff, but you wonder how long it will be before nobody knows how to set the odds on their own! Between these services and Betfair, there are very few genuine odds compilers out there.

If you'd like some advice on setting up your own bookmaking business in this field, whether it is stand alone or as an addition to another product such as a poker room. you can contact me via the address on my profile, or make a comment and leave your details (I won't publish it).

Comments

Popular posts from this blog

lay the field - my favourite racing strategy

Dabbling with laying the field in-running at various prices today, not just one price, but several in the same race. Got several matched in the previous race at Brighton, then this race came along at Nottingham. Such a long straight at Nottingham makes punters often over-react and think the finish line is closer than it actually is. As you can see by the number of bets matched, there was plenty of volatility in this in-play market. It's rare you'll get a complete wipe-out with one horse getting matched at all levels, but it can happen, so don't give yourself too much risk...

Racing has a Ponzi scheme - and the fallout will be enormous

When the term 'Ponzi scheme' is mentioned these days, the names Bernard Madoff and Allen Stanford instantly spring to mind. The pair of them ran multi-billion dollar frauds (US$60bn and $8bn respectively) that destroyed the lives of thousands of investors who had put their life savings into a 'wonderful' investment strategy. How so many people were sucked into the scheme is baffling to those on the outside. The lifestyle, the sales pitch, the success stories of the early investors - I suppose it all adds up.

So where does this link to racing you ask? A prominent Australian 'racing identity' this week has been reported to have lost access to a bank account with punters' club funds of $194m in it. Firstly - is there a worse term for anyone to be labelled with that 'racing identity'? It ALWAYS ends up meaning shonky crook! Secondly - who the hell has a punters' club with an active bankroll in the tens of millions? It simply can't be done.

The…

damage control when trading goals

When trades go bad, some people will say cut your losses immediately, others will recommend having a bit of patience as events tend to level out (i.e. games with two goals in the first 10 mins never end up with 18 goals in 90 minutes). This is something I like to do on certain matches.

Background:
1. You've backed Under 2.5 goals, trying to nick a few ticks at a time as the clock ticks.
2. You've been caught out by a goal.
3. The market has gone sharply against you.

On this particular match from a couple of weeks ago, there was an early goal (sixth minute) before I got involved. The period immediately after an early goal regularly shows a sharp drop in the Under price, so I was trying to capitalise on that. But Watford then scored again after 14 minutes. The Back price I took (3.95) was now out to 12 - I could close out for a big loss (not my style) or wait and wait for the price to come back to somewhere I could close out for minimal damage. But at 2-0 after 15 minutes, it w…