I came across an interesting post here on why Betfair should fear whatsapp. Strange bedfellows for an article but the general thrust of the piece is that a chat application is similar to a financial exchange, in this case Betfair, and could theoretically disrupt its business model. I have to be honest and say it’s something I’ve never thought of.
If you read what’s said then you might think that this is so. The author goes into some detail about the similarities and given the depth of knowledge in some of the other posts on his site you might think that he’s got a point. He even says straight out that “A betting exchange is really just a chat application – in place of messages, you have bets; in place of chat groups, you have markets; and in place of the chat transcript, you have the order book“.
So that’s a fair comparison isn’t it?
Ummm, nope and here’s why. Continue reading