Bookmakers vs Betfair vs TAB

Best model?

For mine its by far the TAB's Tote and I'll explain why,

Betfair no liquidity up to 60% premium charge for some, some will say its traders only but some bettors do pay premium charge and even if its only traders these are bettors kicked out and the racing model is based on making money from turnover so you don't want to kick out anyone! yes they cant trade on the tote like on BF but they might bet instead.

Also lack of liquidity because no one wants to market make, which is obvious why and this is where TAB come in because market makers are not needed as prices adjust according to money wagered on the Tote. And no one is limited or kicked out like with exchanges and Bookmakers.

Online corporate bookmakers, beside a couple offering prices the rest just follow and limit winners significantly, again not what the racing industry wants since its a turnover based model. Also all the bad publicity that comes with bookmakers who prey on problem gamblers giving the industry a bad name.

Totes don't restrict or limit anyone and this encourages turnover and turnover builds more turnover making robust betting markets and this all encourages more turnover.

If the industry had a clue it would be a Tote only model.

So when someone says the Tote model is outdated their have zero clue, bookmakers are outdated as they are just middlemen and the exchanges are flawed in some ways too and they also change premium charge, no matter how much premium charge is still is more than what the Tote would charge.

If the tote dropped its market takeout it would thrive.

Now why the Tote likely would not work and that obviously greed and monopoly but that doesn't have to be is educated people ran the industry who understood lower takeout's increase turnover.