Matchbook hidden charges - Beware (page 3)

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Matchbook
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Matchbook

Re: Matchbook hidden charges - Beware
« Reply #30 on: May 06, 2014, 10:51:25 PM »

Matchbook clearly states that has the right to impose fees to deposits/withdrawals. However, a profecional customer, and I believe Matchbook has many, would like to see more specific rules and parameters.
I believe that:
-Matchbook should impose a minimum roll over requirement upon which deposits/withdrawals will be free. This is the same tactic that Pinnacle imposed. The roll over requirement could be a combination of odds and stakes. If there is no such roll over requirement, I believe that other clients will be in the same position like Sportoboy's in the future. Matchbook will have to explain again and again this situation. A situation that no-one wants. This is up to Matchbook that has to take into account other marketing factors.
-Matchbook should make an one time exception and absord these 740 euros, or give the chance to the player to withdraw his balance in a shorter period of time.

FYI, if there is no e-wallet abuse, players should opt for a Matchbook account via AsianConnect, where there are no fees for deposits/withdrawals.
E-wallets impose fees to bookmakers and exchange that varies from 0.7% to 3% depending on the bookmaker.

Hi there,

I appreciate what you mean by specific rules but our concern is that this would impose restrictions on a lot more customers than the more 'surgical' approach we have taken. Admittedly, this may lead to a little more uncertainty, but I can assure you we are being very fair in our assessment of all accounts.

We will review the sportoboy account again, but I can't promise anything in terms of the restrictions.

Thanks,

Mike
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Matchbook
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Re: Matchbook hidden charges - Beware
« Reply #31 on: May 06, 2014, 10:59:44 PM »

€4840 @ 2.11 Tottenham - Fuhlam -1 handicap (lost)
€2083 @ 2.15 Augsburg - Hertha +0,5 handicap  (won)
€9683 @ 2.10 Chelsea - Sunderland +1.75 handicap  (won)
€30717 @ 2.03 Bayern - Real Madrid +0,75 handicap (won)
€25301 @ 2.06 Chelsea - Atletico - 0,25 handicap  (lost)

I'm guessing the "problem" is that you didn't pay a single cent in commission
In the first quarter of the year Matchbook was offering 0% commission on all football markets so I am guessing there were many others that also didn't pay a cent also but were not penalized. It is not the player's fault that Matchbook run promotions that make them no money.

Hi qbet,

There was a number of factors reviewed before imposing limits on customers - we did of course factor in that customers were on 0% at the time, but they weren't judged on that basis.

Thanks,

Mike
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BOOYAKA
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BOOYAKA

Re: Matchbook hidden charges - Beware
« Reply #32 on: May 06, 2014, 11:29:45 PM »


Mr Matchbook can you add more markets please. Most gamblers/ arbers/ traders are fed up of betfair's high commission and premium charge and matchbook could fill the void as the commission structure is better.

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GLopez
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GLopez

Re: Matchbook hidden charges - Beware
« Reply #33 on: May 07, 2014, 12:58:26 AM »

I have to defend Matchbook here. I also had restrictions imposed on my account back in March. I didn't even realize how much withdrawals cost them but after they informed me I understood their point of view. Therefore I found it only fair to lower my withdrawal frequency and totally agreed on a restriction of 1 free withdrawal per week. So they did warn me before imposing the fees and I appreciated that. Sportoboy was unlucky not to be warned, but I just want to say they don't do this with everybody and Matchbook certainly have no malid intentions I believe.
I have to say I don't use Matchbook a lot anymore since I am a little disappointed in the liquidity after the 0% promotion ended. The asians simply offer more value in 90% of the cases nowadays if you calculate the 1% commission (which is basically 2%, if you bet on odds around evens that is).

But why doesn't Sportoboy withdraw his full balance to his bank account actually? That should be free of charge normally.
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Arbusers
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Re: Matchbook hidden charges - Beware
« Reply #34 on: May 07, 2014, 08:15:43 AM »


Mr Matchbook can you add more markets please. Most gamblers/ arbers/ traders are fed up of betfair's high commission and premium charge and matchbook could fill the void as the commission structure is better.

This is the post of the day. Matchbook could multiply its volumes by taking a bigger part of the pie.

@Matchbook, we will wait for the newest review of Sportoboy's account.
BTW, thanks for being here.
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sportoboy
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sportoboy

Re: Matchbook hidden charges - Beware
« Reply #35 on: May 07, 2014, 01:37:33 PM »

Hi sportoboy,

I don't have your username - can you e-mail accounts@ and just ask them to pass your account on to the review team again and I'll get them to take a look at it.

Thanks,

Mike

Hi, Mike they have some difficulties understanding what's the case here, so I sent you in pm my matchbook username.

Thanks
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sportoboy
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sportoboy

Re: Matchbook hidden charges - Beware
« Reply #36 on: May 07, 2014, 07:34:42 PM »

Matchbook decided to refund half of the charges to my account with the argument that they informed me via email about this new charge before I was able to withdraw the rest of my balance. I had 37k in my account and as you all know they let you withdraw only 18k daily. So, I did withdraw 18k the first day, then their email came and I withdrew another 18k after the email. They charged me 2% on my 2nd withdrawal.

If for example I had 80k in my balance, I would be able to withdraw 18k and a 2% charge would be applied on the rest 62k. The result is the same. My funds were trapped for no reason. I remind you that there was no "one free withdrawal per week or one free withdrawal per month" option given to my account. And as I stated in my first post and also explained to matchbook's customer support a bank withdrawal wasn't an option for certain legal issues.

If we take into consideration Matchbook's response to my case and that insight Mike gave to us: "However, because of the low 1% commission rate, the attritional nature of some customers, who deposit funds, bet them once, and withdraw again, mean that these customers cost us a lot of money. This can be exaggerated further by customers that continually bet short odds-on runners - e.g take a customer that deposits €10,000, bets on a team at 1.1, pays €10 in commission and then withdraws the entire €10,990 - the processing costs on this would be significantly more than the commission earned." ), we can all agree that Matchbook's offers is just a trick (someone could call them a fraud). Even if you rollover 100 times your deposit, but bet only in the 0% commission markets, in the end the processing costs of your deposit will be significantly more than the commission you will generate and charges might be applied to your account. This transforms the advertised 0% commission into XX% commission when you withdraw your money. Which is exactly what I said at my first post (Hidden charges).

If you are using matchbook normal markets only or matchbook 0% commission markets AND matchbook normal markets, you are good to go if matchbook will earn sufficient commission from you. But if you use 0% commission markets only, bear in mind that they come with a catch as it was proven in my case.

In a separate post I will add the replies I got today from the customer of support of matchbook, which reinforce these arguments. 
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sportoboy
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sportoboy

Re: Matchbook hidden charges - Beware
« Reply #37 on: May 07, 2014, 07:38:18 PM »

This was my last email to them:

Quote
You charged me with a 2% withdrawal fee, although I didn't make any excessive deposits, I made a turnover of 1,5 times my deposits  and I didn't bet on short-odds favourites. You applied that charge retrospectively without any prior warning. Effectively, that resulted in 720 euros removed from my account. If I knew that you would charge my that much, I would never open an account with you. You only have a vague term, which can't stand in any legal case, written in your website "Yes, for the most part, withdrawals from your Matchbook account are free. However, we reserve the right to charge, if the frequency of deposits and withdrawals is deemed to be too high."

So, I'm requesting to review again my account and refund the charges (720 euros) you removed from it.

These are the replies I got to that email from their customer support:

Quote
This is not a rollover issue, the fact you rolled over does not affect the decision. You would of deposited 31K in four separate deposits in one day and prior to this it was deemed your account was excessive and costing more in financial transactions that you account was generating. This charge is not designed make it expensive for you, it is merely to cover our costs and enable us to retain our competitiveness with 1% commission. I'm sorry you feel hard done by but on this occasion you had been emailed from the compliance team informing you of 2% charge.

and half an hour later

Quote
Sincerest apologies for the misunderstanding. Your account has been credited the fees charged on your withdrawal that was requested prior to the limit email. Thank you for your patience and understanding.

In any case I would like to thank Mike for his efforts and his insight, despite my opinion of Matchbook's unfair resolution.
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pedro
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pedro

Re: Matchbook hidden charges - Beware
« Reply #38 on: May 07, 2014, 09:16:22 PM »

we can all agree that Matchbook's offers is just a trick (someone could call them a fraud).

Yeah just like someone could call depositing, betting on five 0% commission markets and withdrawing "Promotion Abuse".
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sportoboy
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sportoboy

Re: Matchbook hidden charges - Beware
« Reply #39 on: May 07, 2014, 09:49:27 PM »

we can all agree that Matchbook's offers is just a trick (someone could call them a fraud).

Yeah just like someone could call depositing, betting on five 0% commission markets and withdrawing "Promotion Abuse".

Sure. As someone could have doubts about a person registering one day after this thread opened and writing in those 3 days 2 posts, both to defend Matchbook's policy. This is not the way to gain customers' trust "Pedro". 
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alexko
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alexko

Re: Matchbook hidden charges - Beware
« Reply #40 on: May 07, 2014, 09:55:45 PM »

Also now it is 2% without notice. They are able to add 3 or 4% in the future as they apply rules immediately.

You deposit money with free withdrawall option -> They apply rule immediately 5% withrawall !
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pedro
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pedro

Re: Matchbook hidden charges - Beware
« Reply #41 on: May 07, 2014, 10:18:43 PM »

we can all agree that Matchbook's offers is just a trick (someone could call them a fraud).

Yeah just like someone could call depositing, betting on five 0% commission markets and withdrawing "Promotion Abuse".

Sure. As someone could have doubts about a person registering one day after this thread opened and writing in those 3 days 2 posts, both to defend Matchbook's policy. This is not the way to gain customers' trust "Pedro".

I don't have customers. But I do have a dislike for arrogant behaviour.
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Rufus
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Re: Matchbook hidden charges - Beware
« Reply #42 on: May 07, 2014, 10:40:31 PM »


Yeah just like someone could call depositing, betting on five 0% commission markets and withdrawing "Promotion Abuse".

As qbet already said in this post: "It is not the player's fault that Matchbook run promotions that make them no money".
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peleus
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peleus

Re: Matchbook hidden charges - Beware
« Reply #43 on: May 11, 2014, 02:23:12 PM »

They always do this. They tend to keep things gray so that they could get away with it. I guess we just have to read things clearly before taking the plunge.
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anormal1992
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anormal1992

Re: Matchbook hidden charges - Beware
« Reply #44 on: May 11, 2014, 08:23:48 PM »

Made my first cashout on a new account and after playing for a week and paying commisions withdrawed all balance ( around 15k) without paying any fee.... So obviosly this thread  has more to do with affilate abuse than with matchbook .
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