How betfair can be Beaten

Question

How betfair can be Beaten? they say not many companies can control the market for more than 15 years and out of the blue comes another contender who gives the established giant run for his money. Betfair is getting close to 15 years and its about time another company comes forward. i think the answer of how to beat betfair lays with bettors who are the main reason betfair is where it is today. This topic is open to all.

Answer 1

This will never work as WBX have found who even still have no liquidity.Look at the bettor markets now and you will see it is a complete joke and a business doomed to fail.

Answer 2

How to beat betfair can be read as how to beat bettors on betfair or how to beat betfair as a company. i'm assuming you are talking about beating betfair the betting exchange.  you don't just lead the market for over 10 years unless you are doing things right and there is no way others did not try. for one reason or another every other exchange did not match betfair's offerings.  Having said that; you have to look at the history and it will tell you a story that could have been written differently. Flutter was catching up with betfair and for sure had a better software and had enough money for the much needed hardware. Instead of competing heads on, the flutter management decided to merge giving betfair the 20 million heads start on any other exchange.  

For a while there was sportingoptions who looked fairly decent until they did a runner with bettors money.  

To look at how to beat betfair you first have to see what advantages they hold and accordingly you would have to offer at minimum the same value.

1. You must have state of the art software
2. You must have enough liquidity so people playing can match their bets
3. you have to have a very strong customer service (this is where Betfair lacks due to their monopoly situation)
4. you must treat your customers with outmost respect (this is another area where i would give betfair 1/10, they seem to forget - it’s the customers who are responsible for where betfair is today)
5. Market must be willing and ready to find another success story (betfair made it on the back of the bookmakers)
6. You must have luck on your side (This is a big one also and Luck goes a long way)
7. Media must get bored of giving ongoing coverage to betfair and everyone is looking for the next big thing. All you have to do is to gain momentum and the bettors and the media will take care of the rest and if Luck is on your side; Betfair would be in trouble.