Bag a Tote for Christmas

[Gordon McIvor Wilson]

Well here it is again, the Great Seasonal Tote Chase, quite a large field of possible buyers, current estimates of likely sales value dropped a lot since the last 'fix', now stands at £250m (was £400m in 2008).

Contrast with the market cap of Betfair at and after its recent flotation - some pointers here for Sports_Punter maybe, who has been seeking to rationalise the unrationalisable, see his learned efforts at http://www.thesportspunter.blogspot.com/.

Several familiar names here, I'm sure there will be some pithy comments and wise counsel to emerge from the Sports Exchange on this perennial subject.

[Richard Stoddart]

Seems like a bargain to me! Tote has been restricted from offering pool betting on sports as their remit set in legislation has been to only offer pool betting on horse racing. Once it goes into private hands they'll be able to expand their pool betting to every sport imaginable and I'd be certain that a Sports version of the Scoop6 will be high on their agenda, as will a Soccer6 (a SA model), and other exotic pool bets that gets the public imagination going. They have a huge network to exploit as virtually every bookie has a Tote machine and the potential jackpot pool match on something like a Premier League game like Man Utd v Chelsea would be huge, even reaching a global capacity. Hence at £250m I reckon it rates an investment of truly huge potenial.

[Adonis First]

Blue Sky Thinking.....

Someone ultra-respected, like Richard Branson should snap it up and  maintain the mainstream "Nanny" as we have always known it. Win, Place, Fcst, Placepot, Scoop Six, the lot.......

BUT.

There's a big value-add potential to mushroom its market value to WELL BEYOND THE CURRENT BOOK VALUE OF SUCH AS BETFAIR, and create a "Betting Utility" of long-term reliable service and revenues:-

 

He should initiate a "mutual"-styled Tote Betting Exchange as well.The "Virgin Exchange"

One which takes a flat-rate commission, say 1% of the stake of all wagers struck  , so that every bet (and it's  lay counterpart) which takes up system time to place is charged for.

And all bet (or lay) offers submitted are uncancellable for 5 seconds.

So, once you verify an offer with that final carriage return, it stands. For at least 5 seconds.

 

Result?

No more of this "microsecond" bot multiple trading and spoofing the market (robbing Punters) with cancellations BEFORE punters even get to see an offer. Before the exchange can even display it!

No need now for guestimated, indeterminate "satellite delays" and suchlike. Anyone who submits an offer is REQUIRED to stand by it, if it's taken. AND PAY THE COMMISSION ON THE STAKE, IF IT'S A WINNER.

So better be REALLY careful that you don't enter an offer that you don't want taken!

"Trap Bets"? - the trapper takes huge risks by submitting them. But he's free to do it if he chooses!

 

No markets will be made on events which can't show that they have a commentary (or picture) service with realtime delays of less than 4 seconds.

.......... let the MARKET (not SPIVS) rule.

 

Dreaming?

Not THAT much of a dream, if you think about it.

The END of Betfair's Virtual Monopoly.

The END of "service provider's arrogance" towards its Customers.

No Premium Charge.

Minimal Commission charges for Punters, and only he who collects pays them!

Vast increase in Betting Integrity (as required by the charter of the Gambling Commission, by the way, so they would be likely to support it Big Time).

Note that charging a 1% commission on the "stake" of all deals  produces determinate revenue with NO Abstracted Funds!- even if liability for an individual deal is negated by subsequent "greening up deal(s)", the commission on stakes of ALL deals struck will still be paid by the winning Party. Plenty of room for "traders" to trade, but ZERO room to profit from spoofing!

There again, those who currently maintain that such as Betfair is the "ultimate" can stay there and continue missing out on the above benefits if they so desire. It's a Free Market, in every sense!

 

Such a site would, I feel, quickly rise to DOMINANCE over traditional bookmakers, which includes Betfair, because - contrary to what the likes of Betfair "traders" think, the Market is driven by Punters seeking the best value and risking their cash to the bets available, most efficient offers.

Example:-

If you want £1000 on the even-money favourite and intend to then wait and see it win or lose, there is no more effective, efficient place to bet than via the Virgin Exchange. And the efficacy is auditable!

You either lose £1000 (it lost) or collect £990 (it won).

Whoever laid your bet either collects £990 (it lost) or loses £1000 (it won).

The "missing" Tenner is the commission on the deal struck - 1% of the stake. Straight into Virgin Exchange's cash till.

 

In the background, "traders" can still pursue their own goals too, hoping that the Punter betting traffic (true liquidity) will provide them with "margin" opportunities, BUT, the playing field will be LEVEL and they will pay EXACTLY the same net commission rate as everyone else, on EVERY deal they make. Their commission payments will be cumulative, like everyone elses'!

Their Time advantage over everyone else will evaporate.... and ABOUT TIME TOO!

 

Sharp Minds will no longer be able to engage in Sharp Practices!

 

 

 

 

[Gordon McIvor Wilson]

Lots of possible buyers want to understand the pricing, as do Lazards who are pushing the sale of this perennial government 'asset'. I have to say that I find the Tote staff incredibly friendly and helpful on the course, a shame if heavy commercial changes damaged this. A lot of casual/occasional punters TRUST the Tote and I'm not sure that attitude would survive a change of owner. And what about the MILLIONS that the Tote provides in vital funds for racing? How will this be protected on a sale?