Anyone else that backed Bush on TradebetX?

[acw]

For a few weeks now these guys have been offering the best price on Bush, which could be arbitraged at various places of which (obviously) BetFair made it the easiest. I am very much willing to believe that all the scalpers out there may have had a few nigths in which they were sleeping, but none will have overlooked this one by now.

I am getting more and more worried that we are in for some Irish stiffing!
At least if Bush wins, I am in for some $10k, which I will withdraw instantly.

 

[trytrytry]

who are tradebetX. What do they offer. How long have you been with them. Do they take USA players?

 

[christof]

ZERO chance of a stiff.

TradeBetX = Tradesports.

They make their money no matter who wins. You are betting against another person, with Tradesports taking a 4 cent commision per share from each of you (plus an additional 4 cents for every share held to expiry). Volume on all the presidential props is close to 2 million... so they made some nice bank.

 

[christof]

Just to clarify, I said ZERO chance, but I don't really have any inside info on their financial status. Their business model seems very sound though. I just ran a 60 day report, and I paid over a dime in commision during this time. That means Tradesports made over $2000 profit on my trades alone.

Unless they are buying and selling contracts with their own money (doubt it) you shouldn't worry.

 

[acw]

Unless they are buying and selling contracts with their own money
Highly likely. On top of that TradebetX knows BetFair's prices. I do think BetFair has about 0.1% chance of stiffing players. Even TradebetX knows this, so why does TradebetX not arb their bets with BetFair?

 

[TradeSportsExchange]

Thanks "christof" for clarifying our credentials.

We do not engage on 'laying' off or 'arbing' any prices on our exchange as we do not benefit from doing so. Our model is a fixed fee on all trades.

As "christof" pointed out, we make a small fee for every transaction that takes place and unlike other exchanges who take a %age of winnings, to us the outcome is pretty much irrelevant.
We do have a vested interest in close results where trading takes place in large volumes...sure fire winners are less likely to generate large volumes of in-running trade.
All member funds are frozen in separate accounts and are returned to members immediately a contract ends or expires.

TradeSports
(TradeSports is owned by the Trade Exchange Network Ltd., who own and operate Tradesports, TradebetX & Intrade)

 

[assassin]

you forgot to mention you payout immediately upon request.

only thing would be allowing more wagers at x.1 v x.3 as opposed to only whole numbers

would generate more action I think

instead of 49 v 50
49.5 v 49.8

later