Tag: arbiter

Is Betfair no longer the arbiter of true value?

Big headline, what does it mean?

OK, for years the exchange mechanism has provided a very useful pricing mechanism. An careful aggregation of demand between people competing on a level playing field and it has provided a beautiful insight into the way free markets can work to mysteriously, accurately, price an event –  in this case the prediction that something will win a sports event.

But we have been watching closely as the market appears to be decoupling from it’s …