A good share/investment website with discussion board. That thread is for Betfair, the price hasnt moved much but it is perched at over £1.5Bn still and that is just too much. Everything has a price and Betfair is not worth that!
I know it is in theory a good business model but there is a lot against them, long term bookmaker make money from losing gamblers, thats really where the money comes from "problem" gamblers and/or "fun" punters who maybe have £5 on a correct score bet or £2 on the Grand National or whatever.
Betfair wont make any real money from either of those groups, the "problem" gamblers may well gamble all their money away but Betfair will only get 5% of that they will lose it to the winning/shrewd accounts. The "fun" punters will find it too confusing to ever give it a try.
Betfair will have a % of long term winning account holders, not many but there will be some, and Betfair will need to constantly have to find them new users/members with new funds to feed them, with betfair paying the marketing/RAF budget for this but again only taking 5% out of everyone who decided to "turn pro" on Betfair.
There is more negatives than just that. There is loads. One being the possibility the Govt decides laying bets on Betfair does make you a bookmaker and taxes Betfair members as such, which a lot of the Gambling lobby would like. It could happen and is no more far fetched than the USA overnight banning gambling and the effect on the shareprice of PartyPoker/888/Sportingbet etc etc was devastating. It is a threat seemingly not even considered in the £1.5Bn price. Betfair is grat as a company and great as a tool for anyone who gambles a lot, you would be crazy not to use Betfair at least as an option sometimes. And I know it can seem you pay a lot of commission and it is money for old rope. But really, as a profit making venture it will make some, but it is not the cash cow some people in the city seem to think.