Our guest this week is Alex Kane of Sport Trade. Sport Trade is a betting exchange run very much like a financial market. rather than betting with a bookmaker, players bet against each other. Currently they are only available in New Jersey.
[00:00] Introduction of Alex Kane of Sporttrade
[00:44] Alex’s educational and sports betting background
[03:12] Betting exchanges versus bookmaker models
[06:47] Sporttrade commissions, Betfair’s commission policy
[09:10] Algorithmic betting
[10:42] Can participants create their own market on Sporttrade?
[15:51] What is the average hold on a recreational bettor on Sporttrade?
[17:18] Prop bets
[19:39] Liquidity providers
[23:10] In-game odds, DeckPrism Sports
[26:41] How are liquidity providers getting their data?
[29:22] Commercials
[32:01] What sports are covered? What sports might be covered soon?
[34:21] Entertainment and political event markets
[36:07] Court-siding
[42:18] Sport trade user base and growth
[46:33] Technology, delays, connectivity
[50:27] Price discovery
[52:58] Contacting Alex at Twitter.com/A_Kane47
[53:30] Recommended: George and Tammy on Showtime, wearing headphones while playing, Blink of an Eye
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V interesting podcast by a CEO who clearly understands his product.
As a courtsider/market-maker for over 20 yrs, the amount of in-play delay assigned to a market is a tricky subject.
No in-play delay cannot work. The market-maker just has no time to pull his orders and ends up spending the time being picked off on the 3% of his bets that are wrong, due to faster info.
Someone will always have a better angle/sight of a decision.
I would bet a fair amount, they will have to move to some in-play delay, or find a way of voiding/penalising trades which see dramatic price action. I have always felt, if a price moves by greater than say … 10%, within 5 secs of the bet being struck, it might be a candidate to be voided.
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