Yobetit Platform Review 2014 – Real money trading
There has been many months since we have written our last words regarding Yobetit project and – today – which might be a surprise to you – this subject is back on our blog. Perhaps some of you still lack decent information or general idea regarding Yobetit’s incentive. We hope the text below might clarify some of your thoughts.
The first question which would come to my mind (if I were you) would be: why do you guys write another article regarding Yobetit after the last – rather negative – review. That would be a decent and obvious question.
Truly – we have received an e-mail from Roberto – Creative Director from Yobetit and he asked us politely if we could consider some modifications in our last review – which (in his eyes) is not that fair and positive as it should be. We have always been dialogue people, so we decided to accept his request, provided Yobetit will grant us access to their beta trading (real money) platform. As some of you might remember from the past – we had been refused this access many times before. This time things went different – few days following our request we were ON and RUNNING.
That is how this article started and it also describes birth of the idea why it was written – so please now seat comfortably in your chairs and enjoy information of “what is behind the Yobetit’s wall” – at least for today.
And finally we are about to trade real money! It would be so positively dramatic to underline, that the excitement is overwhelming and circulating throughout our body, but there is no such feeling at all. This waiting period was way too long and the expectations were not fulfilled. When we are just about to start our tests we get this message: “Trading will be open in 17 hours”.
Allright, so the beta product, apparently has some “TIME FRAMES” when it is active and most of the time it is dead, actually. Allright, we will wait until tomorrow, one day does not make that much difference, taking into account the overall waiting time, right?
The Rocket and the deposit
17 hours later (sharp – not to miss another frame, because we are granted access just for 3 days) we log in into the Yobetit and see the amazing rocket, that shouts of the trading being currently open. Perfect. We decide to deposit 300 EUR into the Yobetit via Skrill.
The Arb (The Trade)
Once we are on the main page of “Trading” tab we see either 1 arbitrage opportunity or the message, that Yobetit is currently scanning the market. This is not much and we need to emphasize that during our tests ALL “trades” appeared between Yobetit and Pinnacle Sports. No other bookmaker was listed. Can’t say it is a drawback – Pinnacle is one of the most solid services, but it is a fact. Anyway number of trades is very limited, number of bookmakers involved even more limited (but keep in mind this is a beta version of their platform, according to Roberto’s words – very early one).
Placing an Arb (a trade)
Here we will describe it with the screenshots so that you might have a feeling how it looks like:
Arber (trader) clicks an arb, select the stake (normally 100 – 300 EUR) and clicks “Placebet”
Pinnacle opens and 90 seconds stopwatch starts – arber has 90 seconds to complete other “legs” of surebet outside Yobetit
If other legs are completed successfully arber confirms bet in Yobetit, if other legs fail arber rejects Yobetit bet
Placing an arb is simple. Actually it is hard to think of any easier way it could be possibly done. Literally everyone will have no issues completing placing a trade. Also 90 seconds is a hell a lot of time. We have managed to take screenshots of every single step of placing the arb, find it ourselves in Pinnacle Sports and have a small beer during the process and we were still in the frame. So when it goes to the ease of placing trades and user-friendliness of the platform – Yobetit gets top marks. It is an unquestionable A+!
Stakes: Yobetit says that the stakes will eventually go up, with the ongoing growth/development of the service. It is certainly needed to provide their Clients with decent platform, since 100-300 EUR is not enough.
The nature of trades
Some of the more experienced arbers and commentators, including Surebet Monitor Team pointed out questionable business model of Yobetit. Basically presenting trades between Pinnacle Sports and Yobetit was expected to be unprofitable for Yobetit in the long run, due to the sharp nature of Pinnacle Sports odds. Using other words – with every trade accepted Yobetit was expected to lose value, thus losing real money, which in turn was enough to define their business model as an unsustainable one.
At the first glance our impression is that this might not necessarily be the case here. The aforementioned equation (EV+ – EV-) is truth at all times, provided the trade is presented against the sharp Pinnacle line. Every single child in USA knows though, that the sharp nature of Pinnacle lines gains its strength over time (the line becomes more accurate with increased turnover) which results in increasing limit on the particular game/line and further line adjusting. What we might observe at Yobetit are trades between Pinnacle Sports soft lines (or not ultimately evolved at least) and Yobetit. This is mainly because of the trades, that are presented for early markets, future events, when the odds are not yet well established.
The question is if this was an accident or not. Time will tell. Our impression was, it was not.
Doubts and challenges
With the business model being more sustainable that previously expected, the liquidity issue remains unsolved. Yobetit currently offers early market trades against Pinnacle Sports, thus sharpening Pinnacle’s lines. The interesting part is that Yobetit currently offers betting browser (browsing to Pinnacle) with their (Yobetit’s) affiliate Pinnacle Sports link included. We see nothing wrong in it. Yobetit says they will eventually increase stakes – this might be difficult. They will need to introduce new services soon to gain more respect and trust.
Yobetit completed another step of their development offering now real money trading. Their trading platform is very well executed and placing an arb (trade) is a joy and cannot be any simpler. The nature of presented arbs awakes certain thoughts. Most likely Yobetit will not be happy giving away too much value on their side, exploiting other bookmakers weak lines. This however results in certain doubts regarding usefulness of the platform and liquidity of the service itself.
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