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geisaver

LMAX

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I use www.betfair.com for sports betting and http://www.lmaxtrader.co.uk/cfd-trading/our-cfd-markets is their spin-off for financial betting. Part owned by Goldman Sachs

 

Has anyone tried it, if so is it any good?

 

It lost £13m in the first year.

http://www.contracts-for-difference.com/news/industry-news/6171-uk-lmax-troubles

 

Betfair itself was originally founded by two city traders.

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Hi there,

 

My osteopath (lol) says betfair is REALLY good because it is a floating market similar to the stock market. He says

you can bet who you think will win and as the game is being played you can bet on other outcomes of the live game

(sort of like changing your bet if you think the other team will win - hedging?).

 

He did explain how the floating market worked, but I'm afraid it is still beyond me. Still I checked out BetFair but

don't understand rules of sports nor am I au fait with any kind of floating market yet.

 

He also said that one of his clients, an ex-stockbroker, started with $100 and got up to $80,000 by the end of the

year. So if you "get" sports and markets I guess this is the place for you.

 

As for LMAX, no idea. I'd probably be just as bad with that except I wouldn't have the mistique of sporting rules.

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OT, but what i like about betfair is that they only charge you on any profits, so it's entirely possible to back and lay an outcome and lock in a profit and only be charged if you win.

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Sorry I don't think I made myself very clear.

 

I know all about Betfair and have used it for years, though use it a lot less now.

 

I was asking if anyone had any opinion about LMAX.

 

Re Betfair I couldn't recommend it now. I would suggest people try www.betdaq.co.uk instead. The charges at Betfair are now ridiculously high by comparison, especially if you are very successful, they take up to 60%. In lots of markets, I suspect via someone's software (maybe Betdaq seeding), the prices at Betdaq mirror what is at Betfair - so it's pointless paying higher charges for the same bet. My only warning would be I wouldn't keep as large a balance at Betdaq as at Betfair. I think of it as a bit like getting better interest at an Icelandic bank - how can they afford to pay more?

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