float, float, float, float.....

Betfair have hired a Morgan Stanley director as head of strategy as the IPO gets closer. For them, the best thing that can happen this year is a World Cup with all the favourites winning, bookies taking a hiding and Betfair just laughing all the way to the bank. But can they have all the prospectus documents ready in time for a float this year, if they wait that long? This isn't the first float-related hire they've had, they have been making them since 2005 and the media still haven't tired of predicting when it will happen. Just get it over with....

Betfair IPO moves closer with Morgan Stanley director hire

Sportingbet are stepping up to the London Stock Exchange (LSE) from the Alternative Index Market (AIM) next month, a move showing they really have graduated to mixing it with the big boys. Their financial reports are quite interesting. Unlike the British retail bookies who were moaning about all the favourites winning and no draws in the early part of the Premier League season, Sportingbet's turnover on the big four football leagues is just 11%. That is brilliant diversification which makes them barely blink when results in one league go the wrong way for a while. A very enviable position to be in.

Sportingbet to cancel AIM shares ahead of LSE listing

UK bookies' share prices all lifted after Cheltenham, probably dropped a little after the National, they'll all be hoping for a big result at the World Cup.

Comments

It's all gone Pete Tong at Betfair!

The Christmas Hurdle from Leopardstown, a good Grade 2 race during the holiday period. But now it will go into history as the race which brought Betfair down. Over £21m at odds of 29 available on Voler La Vedette in-running - that's a potential liability of over £500m. You might think that's a bit suspicious, something's fishy, especially with the horse starting at a Betfair SP of 2.96. Well, this wasn't a horse being stopped by a jockey either - the bloody horse won! Look at what was matched at 29. Split that in half and multiply by 28 for the actual liability for the layer(s). (Matched amounts always shown as double the backers' stake, never counts the layers' risk). There's no way a Betfair client would have £600m+ in their account. Maybe £20 or even £50m from the massive syndicates who regard(ed) Betfair as safer than any bank, but not £600m. So the error has to be something technical. However, rumour has it, a helpdesk reply (not gospel, natur

Betdaq.... sold...... FOR HOW MUCH???

So as rumoured for a while, Ladbrokes have finally acquired the lemon, sorry, purple-coloured betting exchange, Betdaq. For a mind-boggling €30m as 'initial consideration'. That's an even more ridiculous price than Fernando Torres for £50m, or any English player Liverpool have purchased in recent seasons! As I've written previously there are no logical business reasons for this acquisition. from Nov 29, 2012 The Racing Post reported this week that Ladbrokes are nearing a decision to acquire Betdaq. This baffles me, it really does. Betdaq are a complete and utter lemon. Their only rival in the market has kicked so many own goals over the years with the premium charge, followed by an increase in the premium charge, cost of API and data use, customer service standards which have fallen faster than Facebook share value, site crashes and various other faults. So many pissed off Betfair customers, yet Betdaq are still tailed off with a lap to go. Around the world, Betfair

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...

Sport is made for betting

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