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TOPIC: Don't Use Betfair

Don't Use Betfair 23 Aug 2012 16:17 #1

  • gampas
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Betfair says "Dont Settle for Less"
I only use them under duress
Premium Charges Apply
Which can reach the sky
And they increase with every success

The recent advertising campaign by Betfair is misleading. It looks at the last Premiership season in England and claims that Betfair was better than Bet 365 on 178 of 250 winning outcomes better than Ladbrokes on 173 of the 250 winning outcomes and better than William Hill on 187 of the 250 winning outcomes. The false impression given is that Betfair is generally better than the high-street bookmaker. Nothing could be further than the truth.

I downloaded all the data from www.football-data.co.uk (a highly recommended site by the way). The average overround of the best prices of the leading bookmakers that it uses for the Premiership last year was 100.5%. The average overround for Betfair prices, after allowing for the 5% commission that they correctly show (as their target audience will be those that do not currently use Betfair) is 105.5%. On average, the Betfair price is about 5% worse than the main bookmakers, after commission. In the 380 matches last year, Betfair was best price in 0, yes zero, of these, so it was clearly never best price on the winning outcome either. So, the advert is a complete con, using a clever comparison to deceive the customer.

And the above is disregarding Premium Charges, which successful players incur, and other charges for using an API etc. Perhaps the motto should be changed to:

Don't Settle for Less
Use Betfair for Chess!
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