Well what have we got here then?
Premium Charge going up just before release of the Results, CEO deciding family is more important, a whole host of new hires in Positions where they can collect a Salary without doing much - Is this a Company going places? You decide.
I know I have been droning on about it ad nauseum, but I think they are in trouble,
Obviously the new Premium Charge doesn't effect me, £250k lifetime profit? Me? I don't think so. Not likely to pay 20% anytime soon let alone up to 60% that they have now decided they need to improve the Site - 60%, are you kidding? Improve the Site - Are you having a laugh?
I'm going to reserve most of my judgement until I see the Results, but what worries me is the main liquidity providers on the Markets I look at are going to leave - What happens then? Are Betfair going to start Seeding them? Yet another move to becoming a traditional Bookmaker along with all the Cashback Promotions they seem to be running now.
Feck me but if Andrew Black and Scott Ferguson read this for christ's sake start all over again. Forget the farce that is now Betfair and go back to the roots, I'm sure Ed Wray must be squirming every time they have a Board Meeting.
If the Shares go past £8 tomorrow I am putting the Short in place again, I just don't see how long term this helps Betfair. Get rid of the Courtsiders by all means along with the people you let beat the clock (We all know it happens) but not the very people who are providing the liquidity.
Poker still going OK and I'll upate at the end of the Month, but there might be another post in the meantime on the Betfair results.
Sorry for the ramble, I'll attempt to be more coherent next time!