jnchapel + njx   11

Betfair US/TVG's Levin sees 'positive early indicators' in NJX launch
"As mentioned earlier, 80% of the volume traded so from from NJ players is from people who were not active ADW customers. Because of its nature as a fast-paced trading platform, exchange is proven to attract customers who are not already playing in the traditional tote. The business deal works the same as simulcasting under the Interstate Horseracing Act – we offer a revenue share with the tracks and horsemen out of the 12% commission we charge from wagering ..."
horseracing  new-jersey  exchange-wagering  betfair  njx 
september 2016 by jnchapel
Slow start for New Jersey exchange wagering
"Through June 27, wagering on Thoroughbred signals reached seven figures at $1,142,228, according to wagering numbers provided by the New Jersey Racing Commission. When betting figures on two Standardbred tracks that also offered their signals on the exchange are included, the handle reached $1,179,711. Considering that in a typical seven-week period New Jersey's account wagering service through Internet, phone, and mobile platforms handles about twice that number at $2.4 million, the exchange handle seems to be lagging ... Betfair US officials are encouraged that the majority of volume traded on the exchange to date is from players who are not current or lapsed 4NJBets.com customers."
horseracing  new-jersey  exchange-wagering  betfair  njx  monmouth-park 
july 2016 by jnchapel
Betfair encouraged by initial response to exchange wagering in New Jersey
"Over the past two weeks, many horseplayers have expressed curiosity over how the platform works and have indicated that they have successfully placed bets on horses at higher odds on the exchange than the odds through the parimutuel system, leading to significant price advantages. But others have also expressed trepidation with the prospect of laying odds on a horse, in large part because the practice is unfamiliar, but also because the liability of laying a horse generally exceeds the return."
horseracing  wagering  exchange-wagering  new-jersey  betfair  njx 
may 2016 by jnchapel
New Jersey betting exchange is good for harness racing, with some caveats
"... the average age of a Betfair racing patron is the late 30’s, whereas in horse racing it’s about 20 years senior to that. The Betfair customer is mobile and app friendly, loves technology, and is a stats geek who’s drawn to wagering for profit. As well, Betfair attracts those who trade the market, just like you’d trade a stock exchange. Selling a horse at 2-1 and buying him back at 3-1 is no different than picking up 100 shares of AAPL at $101 and selling them at $103. This is very positive because these are exactly the types of players racing needs. Handicapping and wagering is a skill betting game, but racing does a poor job embracing it. Betfair, and exchanges, force racing to confront this problem, and offers it a new market to sell to, through a medium customers like. In the long-run, this not only involves hopefully increasing revenue from wagering, but selling nights out at the track, new horse ownership and building new fans, too. What else is good is that exchanges are a form of fixed odds wagering."
horseracing  wagering  exchange-wagering  new-jersey  betfair  njx 
may 2016 by jnchapel
Dunleavy: Early thoughts on exchange wagering
"Here is what I have learned on the exchange site so far. Handicapping is still important, but not as much as in a parimutuel environment. Betting, strategy, and being able to estimate a horse’s closing odds play a much more significant role than in parimutuel wagering."
horseracing  wagering  exchange-wagering  new-jersey  betfair  njx 
may 2016 by jnchapel
The exchange, charting, and the great debate
"It takes a little time to get used to how things are displayed, but the exchange is easy to use. Considering how often horses I select get pounded down, the exchange is a welcome option ..."
horseracing  wagering  exchange-wagering  new-jersey  betfair  njx 
may 2016 by jnchapel
Built for comfort
"In-play running is something I’m going to have to get used to. My impressions are that this is a mugs game. This is where your ability to get as close to a live video feed as possible is the difference between being a sucker and being good. My video feeds for Tampa and Turf Paradise were well behind what was actually happening in the in-running market and this was obvious to me from the very first race I played in-running. You can see who won the race based on the in-running market action well before whatever happens on the video feed. This signals to me that the exchange tech is very good and that, as usual, the old streaming video tech is outdated. Not sure what the answers are here to leveling the playing field but I didn’t feel like I was playing on one. I believe there will be a major advantage to sitting at the track at Monmouth and playing in-running directly from the track."
horseracing  wagering  exchange-wagering  new-jersey  betfair  njx 
may 2016 by jnchapel
Beyond the exchange: Notes on the Betfair launch
"While it’s tempting to think that you can hang up a juicy line on a horse you feel has no hope of hitting the board and raking in all that dumb money, the system is designed to aggregate all offers on the site. So the spreads on horses’ odds may be far narrower than you initially expect. Also, remember: it only takes one or two hits on horses at 20-1 or better to make you think twice about how smart you are. Limit your liability early on, as most aspiring bookmakers do. Take it from me, who may or may not have experience running a book, depending on the statute of limitations."
horseracing  gaming  exchange-wagering  betfair  new-jersey  njx 
april 2016 by jnchapel

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