Jagajeet Chiba: Betfair Marketing Campaign Would be a Tough Sell in States

Jagajeet Chiba discusses Betfair’s latest marketing blitz.  His views and opinion do not necessarily reflect that of Gambling911.com Management.

While Betfair has some presence in the United States through its horse racing arm (this form of online betting is deemed “legal” under the Unlawful Internet Gaming Enforcement Act), much of its betting exchange remains off limits to U.S. residents. That is the least of their worries.

Should online poker become legalized in the U.S. by years end as many experts now believe it will, Betfair could also get a foothold in the States assuming its online poker network Ongame gets licensed.  That process probably won’t happen over night.

The brunt of Betfair’s business is its exchange wagering and, unfortunately, the average American has no clue how such exchanges work.  Gambling911.com has witnessed many a similar business model come and go over the years.  Intrade, which does take bets from U.S. citizens, caters to a niche market, mostly individuals familiar with trading stocks.

Americans, by their very nature, have the attention span of gnats, those annoying little flying insects my fellow Indians refuse to swat, and therefore do not have time trying to understand the complex format involved with the Betfair website. 

Here is the jargon found on their website:

Your bets are being matched by other Betfair customers. In this case, although Betfair knows who is on each side of every bet matched, you never know who you are betting against, as it may be a number of people matching your one bet

Then they feature an example full of what looks like mathematical equations on their HELP page.  I won’t bother to post that table here as this will confuse readers further.  Just read what they have to say about the example and see if you have a clue what is written here.  I sure don’t.

In the example above, you want to back Rail Link for £10 at a price of 10.5. If the bet is submitted and matched, you stand to win £95 (£10 at 9.5/1) less commission (see How is my commission calculated?), plus your stake back. You stand to lose £10 (your stake). You can change the price you’re looking for by typing in a different price or clicking the arrows next to the Your Odds box (see ‘How do I choose my odds?’). Take note though, Betfair markets are dynamic, the prices can move at any time. Also if you change your price from what is currently available, you take the risk of not having your bet matched (see ‘How do I know when my bet is matched?). If the Betfair price improves whilst you are in the process of placing your bet, you will be matched at the best available price – higher for backing, lower for laying

Egads I feel like I am back in High School geometry.  Sure I passed Geometry with an A+ but most Americans failed at or never even made it into a Geometry class.  We Indians tend to be math whizzes.

There is anecdotal evidence of every observation of our children and students, the incompetence in the math arena in the United States that backs up my statements. 

Actually, in the whole scheme of things, American students typically only excel at English, Gym and Choir Practice, and sometimes art if it includes drawing stick figures.  I won’t even delve into their inabilities to read world maps.  Canada is the country above America that doesn’t have anyone living there and Mexico is part of the Central American continent, not North America.  They think they know how to spell but it is us Indians who always win the Scripps Spelling Bee in the U.S. which makes it look like Americans are grate spellers. 

Getting back to Betfair, their latest ads will air during a range of sports events including Premier League football on Sky Sports and ESPN,Champions League football on ITV and Channel 4 Racing, as well as other big events such as the Ryder Cup, all in Great Britain.

Long term plans would be to bring this type of betting and its complimentary advertising to U.S. soil, but like I already said, there will be issues that go beyond legalities.

Betfair’s head of UK marketing Matt Booth says: “We aim to appeal to the hearts and minds of potential customers by presenting Betfair as a genuinely better way to bet, based on our unique and compelling value proposition.

Before they come to the U.S. market, Betfair will have to learn proper English, not that Cockney slang taught in England.  “Unique and compelling value proposition” – it sounds like this guy is proposing marriage.

Oh it gets worse.

Albion London CEO Jason Goodman adds: “The betting industry is extremely competitive but Betfair’s peer-to-peer exchange model makes the brand unique. It’s this factor that Albion (marketing agency) wanted to bring to life. In encouraging punters to ’cut out the middleman’, this campaign uses the vernacular of modern, disintermediating businesses who have thrived in the digital age by allowing their customers to go ’direct’.

Oh my God, “vernacular”, “disintermediating” – What big words.  God forbid you direct this quote at Americans, you’ll lose them at “The”. 

Betfair does offer a separate classic online bookmaking format that should appeal to the Yanks.  

Jagajeet Chiba, Gambling911.com