Beta launch of a new Fixed-Odds Financials betting/Trading site

This is a discussion on Beta launch of a new Fixed-Odds Financials betting/Trading site within the Fixed Odds & Binary Betting forums, part of the Markets category; www. CityOdds.com Hi, CityOdds Ltd has recently launched its first Beta (1.1) Fixed-Odds Financial Betting Platform for customer use and ...

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Old Feb 12, 2008, 7:23pm   #1
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Beta launch of a new Fixed-Odds Financials betting/Trading site

www. CityOdds.com

Hi,

CityOdds Ltd has recently launched its first Beta (1.1) Fixed-Odds Financial Betting Platform for customer use and feedback. I would be happy to hear views of players as to the good/bad points and look to make a number of staged improvements over the coming months. Were starting with the S&P 500, S&P Europe 350, USD/GBP and EUR/USD.

Please take a look. Feedback in this forum thread would be great. Its free to register and you can play with fun money or join Pay-to-Enter Pooled Fantasy Trading Leagues.

The real money betting is not activated at this stage.

Best of luck and I look forward to the feedback.

Mike
CityOdds Ltd

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Old Feb 12, 2008, 7:54pm   #2
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Mike
Had a quick look - as far as I could make out you are only offering end of day bets - is that right? If so this won't be for me.

Regards
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Old Feb 12, 2008, 7:58pm   #3
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Originally Posted by Baldwreck View Post
Mike
Had a quick look - as far as I could make out you are only offering end of day bets - is that right? If so this won't be for me.

Regards
Hi,

On this launch yes. We shall be rolling out maturities up to 5 years. You'll find the longer maturities will be priced in a similar way to the listed options market.

Thanks for your reply.
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Old Feb 13, 2008, 11:21am   #4
 
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Mike - the interface looks slick, but how does your service differ from BetOnMarkets / BetsForTraders?
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Old Feb 13, 2008, 11:29am   #5
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Mike - the interface looks slick, but how does your service differ from BetOnMarkets / BetsForTraders?
Hi Chris,

BetOnMarkets appear to have longer term binaries, CityOdds shall be starting with the shortest term binaries (actually the toughest to manage!), settle down and then begin to roll out longer maturities.

There will be focus on graphical interactivity, ease of use, competitive pricing (we try to at least equal IG Index, the market leader in binaries, in comparable products). We also shall look to offer bespoke bets via our, yet to be activated, premium Service.

We shall stick to the range expiry but offer better bid/offer spread execution.

Have a go on the training groups or free leagues...

Cheers

Mike
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Old Feb 13, 2008, 11:35am   #6
 
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Cool - so will it be purely "live quoted" products (like IG), or will there also be bets which are placed in advance of the start time? (the only type available on BetsForTraders / BetOnMarkets)
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Old Feb 13, 2008, 11:38am   #7
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Cool - so will it be purely "live quoted" products (like IG), or will there also be bets which are placed in advance of the start time? (the only type available on BetsForTraders / BetOnMarkets)
You can bet at any time the market is open. You can also close the bet at any time after you have placed it during the trading hours. Bets left will expire worth either the maximum (win) or minimum (0) (lose) at the close of the trading day (9pm for the S+P 500 for example)

You cannot place bets for days in advance as yet.

All quotes are live.
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Old Feb 13, 2008, 11:44am   #8
 
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A couple more questions:

1) What method of odds will the site use? (binary / decimal / fractional / all of these?)

2) What sort of spread are you aiming for (in binary points)?

Once your pricing algorithm is well tuned you also may want to consider MMing on the Tradefair exchange - they just launched a new range of 20 minute bets on the FTSE100.
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Old Feb 13, 2008, 11:51am   #9
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Originally Posted by BinarySoft Chris View Post
A couple more questions:

1) What method of odds will the site use? (binary / decimal / fractional / all of these?)

2) What sort of spread are you aiming for (in binary points)?

Once your pricing algorithm is well tuned you also may want to consider MMing on the Tradefair exchange - they just launched a new range of 20 minute bets on the FTSE100.
1) There are a couple of ways of expressing odds; a) you can set the maximum value of a bet should the event occur, eg I want to receive £100 if the S+P 500 is between 1300 and 1310. CityOdds will price this bet and tell you how much you would need to pay (thats a bit like BetOnMarkets). OR you can enter your stake and see what maximum value would result should the event happen, eg I bet £10 that the S+P 500 closes between 1300 and 1310, if it does, the bet will expire worth, say £112.50, the same bet placed with £20 would return £225 etc.

2) You'll notice the bid/offer spreads are much narrower than for binaries (at IG for example)

Good call on the MM operation - I've a contact at TradeFair and am exploring this currently.
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Old Feb 13, 2008, 11:54am   #10
 
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If you are live quoting though, how can you offer tighter than IG? Their spreads are usually around 3-4 points - surely it would be very difficult to make a profit if your spreads were only 1 or 2 points? (unless there is commission to pay as well?)
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