Paulick Report: Who do you believe about Exchange Wagering?

[andymays]

A British view on exchange wagering report

http://www.paulickreport.com/news/ray-s-paddock/a-british-view-on-exchange-wagering-report/

Excerpt:

I wondered if the people who run British racing agreed with that Christiansen study conclusion, and contacted Chris Brand, the acting chief executive for the British Horseracing Authority. Here is his written response:

"The report prepared by CCA contains a wealth of data about horseracing, and horserace betting, in Great Britain," said Brand. "Unfortunately, in key areas it has been misinterpreted and, further, statements made about the data are posted in such a way as to lead the uninformed reader to draw unproven conclusions from it.

“As an example, the report states that income to the UK Levy Board from the Tote has ‘increased from £5.5m in the year 2000, when the Betfair exchange opened, to £9.2m in 2008, an increase of £3.7m or 67%. In other words, income from pari-mutuel betting has increased since the Betfair exchange began operating.’ A reasonable inference that might be drawn here is not just that exchange wagering has had no adverse impact on pari-mutuel wagering, but that it has had quite the opposite effect.

http://www.paulickreport.com/news/ray-s-paddock/a-british-view-on-exchange-wagering-report/

[Deepsix]

That's an interesting read (Paulick and the Chris. Report). If there were only something more to say!! I read the same general 'stuff' concerning Exchange Wagering that most of us do, and I'm usually overwhelmed by uncertainty about the 'potential for mischief'. BUT, I'm up there in my years and I'm not easily brought into these new concepts.

[InsideTheRaces.com]

Actually the increase doesn't surprise me. Just like a fast food restaurant. The best place to put one is next to another one. When you give people more choices you attract new customers.

When it comes to potential mischief it's already happening with or without the exchanges. The handle on betfair US B tracks it's close to the win handle of our mutual pools. So if you think exchanges would cause mischief at US tracks then betfair's handle says it's already happening.

I think a US betting exchange could actually clean up the game and get rid of some of the funny business that goes on. A central betting exchange platform will allow regulators to track betting patterns better which should show them who the cheaters really are.
What I think would happen in the beginning is all the hardcore players would jump all over the fixed odds the exchange offers. The exotic pools would be so reduced and that's where most of the funny business occurs. The cheaters would have to change their tactics and go after the win pools and this is where some of them finally get caught.
Just one guys opinion.