Tradefair Binaries now live!

[bu||dozer]

Not sure what you mean here - IG/BinaryBet have their own platform for binary bets

I know that Chris.
If you are familar with Capitalspreads you know, that you can trade Financial Spread Bets and Binary Bets within the same account.

binary betting in the UK is not regulated by the FSA

I know this too. The unregulated product is the reason, why these (great!) products are classified as illegal (betting/ gambling) in the rest of europe. Tradefair has already informed their clients about that issue

Users should be aware they are NOT allowed to bet on this event if they are physically present in Austria or Germany. For further information please see our Rules & Regs

BDI v2.2 will be fully compatible with the Tradefair API, which is an extension of the Betfair API. Capital Spreads are currently the sole market maker at Tradefair.

Understood!
It has said, that BDI could connect CS with Tradefair. So this was as expected a wriong information.

Have a great day

 

[BinarySoft Chris]

I know that Chris.

I know this too. The unregulated product is the reason, why these (great!) products are classified as illegal (betting/ gambling) in the rest of europe. Tradefair has already informed their clients about that issue

I've always been a bit confused by Betfair's policy of blocking the financial markets to users from Austria and Germany, yet they are allowed to bet on sports. Do you forsee this changing in the near future?

 

[bu||dozer]

Hope dies at last, you know.

To give a answer to this is very difficult. We had a lot of trouble in the last 24 month here.
It was (and still is) a war between the private bookmakers and the governement.
In the current jurisdiction we see one day a pro-government decision and the next day a pro-gambling industry decison. A horrible situation for provider and clients.

At the moment the German legislature tries to establish a so call "staatsvertrag" - which is intend to "regulate" the german gaming/gambling business. From that what I've read it is a step forward but in it's core nothing more than a law to control the private companies.

Anyway - Last week bwin has won a lawsuit, maybe this could be the beginning of a new area...
Maybe



If you have a look at the stock quote of bwin, you'll see what is meant
OnVista: BWIN INTERACTIVE ENTERTAINMENT AG (936172,AT0000767553) - Aktienanalyse - Snapshot

 

[BinarySoft Chris]

Interesting - please keep us posted on any developments

 

[bu||dozer]

Sure, will do Chris!

 

[bu||dozer]

Interesting - please keep us posted on any developments

Important Notice for ChoiceOdds clients resident in Germany

As you may be aware, as of 1st January 2008 online gambling has been banned in Germany.

We have therefore had to suspend your ChoiceOdds account as you are resident in Germany. Should the legal situation change in the future we will of course notify you. However, at this time, you will unfortunately no longer be able to bet with ChoiceOdds.

:|
Now we just can hope and pray that the European Union will refuse the New Gambling act which became active on 01/01/2008

 

[BinarySoft Chris]

That is bad news, especially as there is pretty much no dividing line at all between financial betting and (short-term) trading on stock and derivatives markets. I wonder if they will also ban online stock market trading?!

 

[bu||dozer]

Happy New Year Chris!

I wonder if they will also ban online stock market trading?!

No, i think no. Trading on regulated markets is and will be allowed as long as the broker has informed the local financial market supervisory that they want offering business to German clients. They have to be regulated/ passported by FSA/ MiFID before.

Imagine, German Tradefair users is allowed to use the Capitalspreads Platform but not the Proprietary Platform

 

[BinarySoft Chris]

Imagine, German Tradefair users is allowed to use the Capitalspreads Platform but not the Proprietary Platform

Yeah, it's a bit of a daft situation - you think they might make an exception for Tradefair? Perhaps the best way to go about it is for Tradefair to become fully licensed by the German authorities...

 

[bu||dozer]

You are right but I believe it wont be easy.
They did a few things wrong or/ maybe the project was a bit hotheadedly established.
1st: The brand - except UK they have no 1st level Domain rights.
Tradefair is a proper name for a "trade" + "fair" - make a google query and look at the results...
WTH have chosen that name??? It will take ages to get a good ranking outside UK

Anyway, the other issue. They have merged a regulated and a unregulated business and try to take care under the same umbrella. That may work in UK but not in the rest of the world.
Maybe you have a better explanation but i really miss their foresight.

With cutting the Gambling from the Finance Busines they would be able to provide their products here. But maybe they knew all this and do not want to target the second largest derivative market of the world. WHo knows....

 

[BinarySoft Chris]

1st: The brand - except UK they have no 1st level Domain rights.
Tradefair is a proper name for a "trade" + "fair" - make a google query and look at the results...
WTH have chosen that name??? It will take ages to get a good ranking outside UK

Well they have tradefair.com , but not tradefair.co.uk, is this what you mean?

 

[bu||dozer]

yes,

they have not *.de, no *.ch, etc. they own just one 1st Level Domain.

Remember, City Index has paid 75K to get the *.com Domain.
Anyway. betfair is rich enough - that are peanuts. Guess they will buy the Domains if required.

Btw. Have you a german domain ;-)

 

[BinarySoft Chris]

Well I don't have the .com name unfortunately, but I liked the name BinarySoft enough to just go for the .co.uk name (and .net and .org)

 

[astra]

No 20 min bets on Dow today ... hope is not permanent!!