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Tomas

Betdaq Liquidity Explained

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@Chris75 asked if someone could elaborate on how the liquidity is calculated on Betdaq versus Betfair... Let's do it. There is quite a big difference in how it is calculated on those two exchanges and this calculation often makes Betdaq looking much better than it actually is. To be fair, in certain situations the opposite could happen - meaning that on certain races liquidity on Betdaq could look worse than on Betfair. Let me explain...

Betdaq Liquidity Works Like This:

  • When I match a £100 Back bet @2.00, Betdaq adds up £200 to the total matched volume
  • When I match a £100 Back bet @1.01, Betdaq adds up £101 to the total matched volume
  • When I match a £100 Back bet @1000, Betdaq adds up £100,100 to the total matched volume
Do you get the idea? They add up my Back bet of £100 together with a Layer's liability at the price my bet is matched on. On Betfair, it doesn't matter if I match my £100 Back bet @1.01 or @1000. They would simply add up £200 (= 2x the Backer's stake) to the total matched volume.  And that is the reason why liquidity on Betdaq often looks much better than it actually is. The simple pattern is that the more bets are matched on prices above 2.00, the better the total matched volume will look on Betdaq. The higher the price is matched on Betdaq, the more it will add to their "liquidity". 
 
Real World Example:
I have made a screenshot of the race at Ascot. It's little more than hour before the start of the race:
 
Betdaq vs Betfair.png
 
You can see three highlighted numbers in the screenshot. On the left, there is a liquidity as displayed on the Betdaq website. On the right, you can see the Betfair liquidity. And finally, in the middle, you can see Geeks Toy software which does display the Betdaq liquidity by using the Betfair methodology & calculation. So, if you really want to compare Betdaq versus Betfair, you have to use the numbers from Geeks Toy. It seems like Bet Angel doesn't re-calculate this so you can't really compare. 
 
Edit:
Bet Angel does offer this calculation as well. Just go to settings and switch:
 
Bet Angel.JPG
 
Right now, the liquidity on Betdaq for this particular market seems to be just 3.8% of Betfair's volume. I will do a screenshot and update this topic just before the start of the race to see if it improves by then...
 
Edit:
Ok, so I have captured two additional screenshots from the same race. The first one is just a few seconds before the start of the race:
 
betfairvsbetdaq.png
 
You can see that Betdaq website shows 4.77 times higher amount of matched volume than Geeks Toy. And as we know, Geeks Toy is the metric which should be used when comparing with Betfair... Anyway, the Betdaq's share has grown quite significantly from 3.8% of Betfair's volume to 12.72% of Betfair's volume. That is a good news actually. Let's look at the volume after the race is finished:
 
betfairvs betdaq suspended.png
 
After the race is finished, Betdaq website shows 4.41 times higher amount of matched volume than Geeks Toy and Betdaq's share has dropped from 12.72% of Betfair's volume to 10.45% of Betfair's volume. Explanation is simple - people traded less during in-play on Betdaq.
 

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