Wednesday, 1 October 2008

Wind Of Change


Since Last Post P/L: £319.53
Monthly P/L: £867.85
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Unsettled Betfair customers will never have a better excuse to explore other options. The Premium Charge fiasco has rumbled on over the last week and now that the gate has been left open the question remains, "how many will walk through?" As many have said, the barriers preventing people from moving elsewhere are slowly coming down and I still can't believe that Betfair have remained silent on the issue. Heads seem firmly buried in the sand at Betfair Towers and short term thinking now seems to have clouded a once visionary company. With news circulating that Bet Angel are due to release API software for Betdaq within days, the time has come for us to join the exodus. Already websites are popping up to protest at the shoddy treatment and it should be of no surprise that the Betfair forum has gone into meltdown since the first debits were taken from qualifying accounts yesterday afternoon. The whole affair reminds me of what we often do in Wales when it comes to rugby - shoot ourselves in the foot.

So what have I been doing whilst this this has all been going on? Well, my strategy over recent days has been to do very little (apart from withdrawing another £2242 from my Betfair account) and to wait for the dust to settle. The incentive to trial systems on markets where I have little or no edge has gone, as the prospect of getting charged if I get 'lucky' doesn't appeal. However, fortunately for me, October and November are expected quiet months so I can afford to stand back and wait a while but once Betdaq becomes a real option, Betfair will become an expensive second option in my eyes. Bad feelings take a long time to dissolve.

Here's my final results for September:
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Cricket
Glamorgan v Worcestershire : £378.00
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American Football
San Francisco @ New Orleans : £3.52
Carolina @ Minnesota : £12.82
Arizona @ Washington : £21.46
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Golf
Ryder Cup 2008 - Winner : £7.71
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Horse Racing
Ascot : £20.00
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In case you haven't already read them, here are a few recent stories in the media regarding the ongoing situation:
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