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21bet exchange problem...admin that was your suggestion

Info about betting exchanges.
neopas
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Re: 21bet exchange problem...admin that was your suggestion

Tue Apr 24, 2018 6:08 pm

I never had any doubt about my funds being safe with 21bet. But keeping accounts frozen for 5 days is too much. I m sorry, but I have to withdraw. There are other options for betfair service.
HMarques90
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Re: 21bet exchange problem...admin that was your suggestion

Tue Apr 24, 2018 6:09 pm

my balance was right, but this matchbook liquidity is bad  :(
zveka
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Re: 21bet exchange problem...admin that was your suggestion

Tue Apr 24, 2018 6:12 pm

it is possible to withdraw ?
HMarques90
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Re: 21bet exchange problem...admin that was your suggestion

Tue Apr 24, 2018 6:17 pm

zveka wrote: it is possible to withdraw ?
i don't see any withdraw option yet
treycolo18
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Re: 21bet exchange problem...admin that was your suggestion

Tue Apr 24, 2018 7:14 pm

Maybe betfair is afraid 21bet will do Soo well.
manos
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Re: 21bet exchange problem...admin that was your suggestion

Tue Apr 24, 2018 7:59 pm

no withdrawal option.

"We are unable to process withdrawals until we have completed all of the migration to the new exchange, so please allow 72 hours before we can process your request."
zveka
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Re: 21bet exchange problem...admin that was your suggestion

Tue Apr 24, 2018 8:01 pm

does any body try to trade?
manos
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Re: 21bet exchange problem...admin that was your suggestion

Tue Apr 24, 2018 8:16 pm

geomak wrote: Hello.
Anyone knows for sure if his balance is ok?
Because i see a little amount and unfortunately i don't remember my balance and my open bets when the exchange gone off.
Im missing 40+ euros but im not so sure... i asked them about this and they told me that i have a pending bet.With that bet im close to my balance.
When they enable withdraw option i will disappear from there.
tomo
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Re: 21bet exchange problem...admin that was your suggestion

Tue Apr 24, 2018 8:50 pm

hi all,
just for information - my balance on this new platform is ok (I haven't had any open bets during inaccessibility time).
For now, one can't even change password (on chat they said that this option will be available shortly).
tomo
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Re: 21bet exchange problem...admin that was your suggestion

Tue Apr 24, 2018 8:56 pm

there is no liquidity for now, tough..
MalleMax
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Re: 21bet exchange problem...admin that was your suggestion

Wed Apr 25, 2018 3:48 am

tomo wrote: there is no liquidity for now, tough..
The big Matchbook problem
dealer wins
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Re: 21bet exchange problem...admin that was your suggestion

Wed Apr 25, 2018 8:22 am

MalleMax wrote:
tomo wrote: there is no liquidity for now, tough..
The big Matchbook problem
They will always have this problem until they change 2 things. 

They need to drop paying commission for losing bets, and they need to charge commission on net winnings only.

Until then traders cannot operate so liquidity will always be low, and paying commission on a losing bet pisses off just about everyone.
Never trust a goose!!!
tomtom70
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Re: 21bet exchange problem...admin that was your suggestion

Wed Apr 25, 2018 1:22 pm

What would be the added value of having a company like 21bet (including their credit risk) to gain access to matchbook? matchbook does not exclude certain countries (for whatever strange reasons) like betfair/smarkets/betdaq and they have a pretty low commission schedule (compared to the 5 % 21bet is charging). Getting access to betfair would, however, be a reason for opening an account at companies like 21bet or orbitexch.

Regarding the commission scheme at matchbook: I totally agree that this is the main reason why traders prefer betfair/smarkets/betdaq over matchbook. Market making simply does not make any sense if you are charged for each bet instead of the net profit on a specific market. I talked to my matchbook account manager but they are not willing to change this and thus the low(er) liquity - although my experience is that it has improved over the last months.

By the way - did anyone notice that 21bet only placed 50 % of each stake at betfair and obviously took the rest of the trade on their books? As this is an arbers forum I guess most of you probably know how this could have lead to serious problems at 21bet. It takes only a little bit of phantasy how this could be used to make money.
geomak
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Re: 21bet exchange problem...admin that was your suggestion

Wed Apr 25, 2018 2:38 pm

For anyone found less balance this is their response: (I have 1 or 2 winning bets from 16/4)



Thank you for your email.

Your pending bets balance is 61.23 EUR.

We are waiting for that list from Betfair as we don't have access to it anymore. So we will email you the list as soon as we receive it. And once again apologies for the inconvenience.
tomtom70
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Re: 21bet exchange problem...admin that was your suggestion

Wed Apr 25, 2018 2:59 pm

I assume they don't have technical issues with betfair but legal ones. Everything worked fine in the past (with the exception that stake size was limited occasionally). So what should these technical issues be?

Once again also very questionable is the "business model" of taking half of the customer's positions on their books. This will ultimately lead to a disaster as people using betting exchanges usually aren't idiots like probably the majority of the bookie's clients. It took me only 5 minutes to figure out how this could have been exploited (although I have never done this)

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