Asian exchanges

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Kokos, CFA
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Kokos, CFA

Asian exchanges
« on: March 13, 2017, 02:15:43 PM »

Hi guys, any experience? Do they offer other sports than horse racing (I am interested in football especially).

Thanks,
M,
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Lucas
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Re: Asian exchanges
« Reply #1 on: March 21, 2017, 09:17:28 AM »

Hi,

What do you mean by "asian exchange"?

Could you give me an example of one?
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gamblehappier
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Re: Asian exchanges
« Reply #2 on: March 21, 2017, 10:01:48 AM »

If you google it you will not found a lot of results about asian exchanges.But i have also heard that there are some ,i have never used one.Anyone to answer here?
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Lucas
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Re: Asian exchanges
« Reply #3 on: March 21, 2017, 11:53:06 AM »

I was interested in this, so I talked to somebody from germany about this.

He tried 2 of these a couple years ago. (foobet.com and asian-betting-exchange.com) I think both went out of bussines in 2014.

But he told me that these didn't work like the exchanges like betfair. There are no fixed odds that you can back or lay. It workes like a pool where everybody can place bets, but the odds are flexible and you have to wait for the bets to be settled to know what odds you get.

So it is pretty useless for arbitrage, but he told me that the odds he got were sometimes higher than in betfair. The problem is you don't know it before the event and because of that you can't place an arb.

I don't know if this is all true, since I've never tried any service like that, but I hope I could help with that.
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Alfa1234
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Re: Asian exchanges
« Reply #4 on: March 21, 2017, 11:55:41 AM »

There is CITIbet (only horse racing), but as mentioned above you cannot get fixed odds when you place the bet because it has something to do with getting a variable discount on the starting price of that horse...I cannot make sense of it to be honest.  Lots of liquidity though.
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Bubbles
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Re: Asian exchanges
« Reply #5 on: March 21, 2017, 04:45:16 PM »

It's something like a huge betting pot, not an exchange as we understand it; meaning, it's not suitable for arbing or trading. Sort of a dark pool for horse, harness and greyhound racing punters mostly from Asia. 
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E4e
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Re: Asian exchanges
« Reply #6 on: March 22, 2017, 01:16:24 PM »

There is CITIbet (only horse racing), but as mentioned above you cannot get fixed odds when you place the bet because it has something to do with getting a variable discount on the starting price of that horse...I cannot make sense of it to be honest.  Lots of liquidity though.

Pretty easy actually, Hong Kong Jockey Club has a 15% or so overround, no one sophisticated would bet there. You can reduce your overround by going on those platforms. The layers will offer you the JockeyClub odds + x% rebate.

It's a big pyramid, agents have good links with local triads to funnel the money and lend money to punter (and collect it aggressively), lots of insiders as well as its the only way for them to lay. No risk for the site holders as layers hold the liability and the jockey club totalisator does the parimutuel odds.

Good article explaining the scheme,
http://www.racing.scmp.com/freeservice/news/news20141123b.asp
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Alfa1234
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Alfa1234

Re: Asian exchanges
« Reply #7 on: March 22, 2017, 01:24:54 PM »

Thanks for the link!

Looked at the site again and the actual betting makes sense, but I don't understand why anyone with access to other bookies or exchanges would place a bet just knowing the rebate he'll get but not knowing at what price it'll be calculated at...
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E4e
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Re: Asian exchanges
« Reply #8 on: March 22, 2017, 02:16:51 PM »

Thanks for the link!

Looked at the site again and the actual betting makes sense, but I don't understand why anyone with access to other bookies or exchanges would place a bet just knowing the rebate he'll get but not knowing at what price it'll be calculated at...
That's historical and cultural, pari mutuel for horse racing is the norm in hk, french also bet on variable odds for horse racing. I admit it's weird for a brittish colony...
It does allow for pools you wouldn't find on classic bookies (quinella, tierce, quartet) where all the fun really is   ;) works well when you have a state monopoly.
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Kokos, CFA
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Kokos, CFA

Re: Asian exchanges
« Reply #9 on: March 22, 2017, 02:46:36 PM »

Thanks for reply guys. Is there a football equivalent or just horse racing? Is the liquidity higher than on Betfair?
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E4e
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Re: Asian exchanges
« Reply #10 on: March 23, 2017, 01:29:22 AM »

Thanks for reply guys. Is there a football equivalent or just horse racing? Is the liquidity higher than on Betfair?
Soccer is fixed odds so no exchanges specific to asia.
Liquidity on horse racing is high, sometimes you won't find fixed odds to arb with (hk races not offered on betfair), variable odds reduce the risk and the spreads for market makers
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