HeathDavisSpeed
Cricket Web: All-Time Legend
Yeah, we were doing that even back then, but the bookies generally hated doing it as they took some umbrage about management perceptions of the prices they'd set themselves or had got themselves into a place they'd created an exposure. Fascinating business tbh, but really fine margins in a lot of cases.Some bookies even use exchanges now to offset liabilities rather than use more traditional bookmaking.
But my comment was mainly about the difference between now and back in 2005 - where I was, Betfair wasn't the destination of choice to be checking the efficacy of the odds setting. Mainly because for individual, flagged accounts you could accept or reject individual bets, so you could react to the knowledge punter on an individual basis before you'd even accepted the bet - and adjust the odds accordingly if that allowed you to identify an exposure.