Matchbook

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mojahed79
Posts: 4
Joined: Sun Aug 19, 2012 4:24 pm

Matchbook very good exchange site
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Shamrock
Posts: 205
Joined: Thu Sep 30, 2010 11:41 am
Location: Perth Wester Australia

What is it like in play? Smarkets are useless and now we have no more Daq.
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aperson
Posts: 205
Joined: Thu Feb 07, 2013 5:23 pm

Matchbook is down at the moment. I've not looked at it in a long time but received an email the other day saying they have increased liquidity 125% since royal ascot. No idea how they have worked that out or whether it is misleading but I had another look at them yesterday....

It's still a bit shit overall but the seems to be someone throwing around some quite big sums. There seems to regularly be orders of a few thousands backing various horses, even relative outsider's (20/1 etc). Haven't quite work out yet whether there's some good arbs thrown up by this or just some plain value but could be worth a look.
spreadbetting
Posts: 3140
Joined: Sun Jan 31, 2010 8:06 pm

Last time I looked it charged commission on every bet not the overall p&l so bit useless for traders. Smarkets is a waste of time and just seem to keep API access for their market makers and have banned a few traders who seem to beat their market makers.
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Euler
Posts: 24700
Joined: Wed Nov 10, 2010 1:39 pm
Location: Bet Angel HQ

Credit where it is due I see they are sponsoring at Goodwood again. Sort of novel to see an exchange promoted at a big meeting.
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aperson
Posts: 205
Joined: Thu Feb 07, 2013 5:23 pm

I understand their commission structure doesn't really work for traders, I was more talking about possible arb opportunity's. Obviously closing accounts etc isn't good although there website states "Matchbook is a peer-to-peer betting exchange designed for smart bettors who want more value. Offering deep liquidity and low commissions, Matchbook returns maximum value to bettors and promises to never limit or restrict winning accounts," so maybe they have changed their attitude.

The opportunities I saw were clearly just an individual trying to get some money on and not a market maker so I doubt you would have a problem taking them on. They stood out like a sore thumb, 5k sitting there in a market that has probably only traded a few times that in total. As far as I can make out though there are some fairly aggressive, (low margin), bots that seem to take this on even if BF is only a couple of ticks different so not really sure there's much in it. Still I may keep a funded account and half an eye on it incase some more obvious Opportunities arise, Goodwood perhaps.

I remember thinking when they sponsored the meeting last year that it was a show of intent, but they don't really seem to have followed through. Seems like they've blown the marketing budget on that one high profile meeting.
spreadbetting
Posts: 3140
Joined: Sun Jan 31, 2010 8:06 pm

I was talking about smarkets banning people , there's a thread on here somewhere where they basically will bend over backwards to protect their market makers.

Matchbook looks fine for arbing etcc but the commission structure isn't really viable for trading
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Kai
Posts: 6092
Joined: Tue Jan 20, 2015 12:21 pm

Matchbook changed their commission structure yesterday, but they still have their own 60% "premium charge".
Matchbook wrote:As from the 7th August 2019 at 00:01 GMT+1, Matchbook customers shall be charged a 2% commission rate as explained in our FAQ at here.

Matchbook will charge you a 2% commission only on your net profit on a market. You will not pay commission on losing bets.

Customers who meet or exceed the Thresholds (as defined below) may be charged one or a combination of the MB Rates which only apply to the Exchange and they are as follows:
Commission rate up to 3.5% per bet (“Transactional Rate”); or
Commission rate up to 5% of Gross Profit per market (“Market Commission Rate”); and/or
Revenue share commission rate up to 60% of Net Profits per calendar month (“Revenue Share”)(which shall severally and jointly be referred to as the “MB Rates”)
The thresholds are as follows:
$1,000,000 (one million US Dollars) of Betting Volume; and/or
$20,000 (twenty thousand US Dollars) of Betting Profit(which shall severally and jointly be referred to as the “Thresholds”).
https://www.matchbook.com/page/faqs/commissionfaqs
spreadbetting
Posts: 3140
Joined: Sun Jan 31, 2010 8:06 pm

Ouch, their PC rate is worse than Betfair's version, at least Betfair let you churn to lessen it and $1M a month would catch out many smaller traders. Might sound a lot but daily it's only £28,000 a day in matched volume and even if we treat volume as matched stakes a lot of people will easily hit that
pythonic
Posts: 65
Joined: Sun Jul 08, 2018 10:20 pm

Their PC is terrible and there have been incidents where they voided bets, apparently because their in-house traders got hurt.
I cant take them seriously. Too many conflicts of interest if they provide the liquidity themself.
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