11th April 2012, 02:09 PM
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Member
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Join Date: Jan 1970
Posts: 4,366
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They got the exchange model correct and people flocked and fluttered to it.
It was a much needed and revolutionary portal, that finally gave some chance of getting set if you're a winner and basically better odds.
Unfortunately they botched the profit and commission business model entirely.
It's actually not a matter of greed in my opinion now, it's a matter of making up for some very poor mistakes and spending money like it's water.
I would hate to guess, but the future looks very bleak indeed.
They still retain a majority market share, but have lost a significant amount of that majority.
Anyone like to guess the amount of money spent on lawyers, applications, licences, advertising, site exchange games, needless beta site, forum improvements etc etc etc.
It's an upside down funnel at this point in time, and they are running out of clients and attracting almost nil new business.
Licence restrictions have seen them out of South Africa, part of America, they will be at least part out of Australia, France, Italy, Spain etc etc.
This is just my opinion, but users are just about fed up, they are sick of increasing fees and charges and losing access to markets left right and centre.
With some foresight and some industry nouse, it could all be repaired, but unfortunately they have already approached it all in the wrong way. They are almost out of options.
The need a complete and transparent fixed business plan of commission structure and industry tax.
It needs to be a guarantee of service to clients and the racing industry for x number of years.
The goal posts have to stop shifting, customers have to have confidence that they are not being taken advantage of behind closed doors with crossmatching and other internal bots.
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