Matchbook introduce increased commission and premium charges

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DPG
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Matchbook introduce increased commission and premium charges
« on: October 09, 2018, 03:45:23 PM »


The worst betting exchange out there, namely matchbook, has now applied a 60% premium charge to accounts with a mere profit of 20k. What a shit company!

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Shawn2k
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Re: Matchbook introduce increased commission and premium charges
« Reply #1 on: October 10, 2018, 08:06:49 AM »


The worst betting exchange out there, namely matchbook, has now applied a 60% premium charge to accounts with a mere profit of 20k. What a shit company!

60%?! At 20K!? Sad if that's not a joke.
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arbusers
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Re: Matchbook introduce increased commission and premium charges
« Reply #2 on: October 10, 2018, 08:54:22 AM »


The worst betting exchange out there, namely matchbook, has now applied a 60% premium charge to accounts with a mere profit of 20k. What a shit company!

Thank you very much for reporting this DPG. I was wondering if they informed their clients about this or not.
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kustef
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Re: Matchbook introduce increased commission and premium charges
« Reply #3 on: October 10, 2018, 10:04:37 AM »

Whos remember this?

"...This model not only allows Matchbook to be the best and cheapest place to bet, but also ensures that Matchbook will never have to apply an additional charge to winning users, as some of our competition has chosen to do."
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Re: Matchbook introduce increased commission and premium charges
« Reply #4 on: October 10, 2018, 10:29:14 AM »

Absolute pisstake, what a greedy horrible nasty company they have become.
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kustef
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Re: Matchbook introduce increased commission and premium charges
« Reply #5 on: October 10, 2018, 10:33:34 AM »

Ok.. according to my info this PT is not for everyone. Only for very small group of people, who probably making big profits.. If your account is affected with PT,  they will contact you by mail..
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arbusers
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Re: Matchbook introduce increased commission and premium charges
« Reply #6 on: October 10, 2018, 10:34:20 AM »

Whos remember this?

"...This model not only allows Matchbook to be the best and cheapest place to bet, but also ensures that Matchbook will never have to apply an additional charge to winning users, as some of our competition has chosen to do."

Very good observation Kustef.
I would like to see how agents will re-act to this. My initial review of the situation is that most agents will stop offering Matchbook accounts, but let's see how it plays out.

Quoting:

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:
1. Commission rate up to 3.5% per bet (“Transactional Rate”); or
2. Commission rate up to 5% of Gross Profit per market (“Market Commission Rate”); and/or
3. 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. $1,000,000 (one million US Dollars) of Betting Volume; and/or
2. $20,000 (twenty thousand US Dollars) of Betting Profits
« Last Edit: October 10, 2018, 10:36:36 AM by Arbusers » Logged
x-casino
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Re: Matchbook introduce increased commission and premium charges
« Reply #7 on: October 10, 2018, 10:39:27 AM »

Ok.. according to my info this PT is not for everyone. Only for very small group of people, who probably making big profits.. If your account is affected with PT,  they will contact you by mail..

I believe you are talking about Premium Charges so it is not PT but rather PC.
It is a stupid thing to do for Matchbook. They didn't learn from Betfair.
Players focusing on American sports will feel the loss. As for the rest I don't think someone really cares.
« Last Edit: October 10, 2018, 10:41:10 AM by x-casino » Logged
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Re: Matchbook introduce increased commission and premium charges
« Reply #8 on: October 10, 2018, 10:41:36 AM »

I actually think these charges would be deemed illegal in a court of law.  Anyway they have today managed to lose just about all the trust, loyalty and credibility they had built up over the last few years. 

Worse than Betfair IMO, and I will try my best to not use them, a lot of my bets I could do on either BF or BD, sadly I will now be placing them on BF and even they dont really deserve my business lol
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arbusers
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Re: Matchbook introduce increased commission and premium charges
« Reply #9 on: October 10, 2018, 10:48:04 AM »

The winners of the day are Orbit and 9wickets. Maybe Betfair too.
Betfair was suffered 2 ways of liquidity drop.
The first was Premium Charges implementation in 2008. Those who were deep in arbitrage and especially those in trading reduced or took their businesses away from Betfair.
The second was regulation all over Europe. That came gradually.
These Premium Charges announced by Matchbook are affecting the bigger player. You will see that smaller players will not be affected at all. Usually, the bigger players are the sharpest also. It is just a guess that Matchbook's injection of cash in their markets is not going well lately.
Also, I have another question. Matchbook recently launched a campaign of 0% fees until the end of the year (2018). What is going to happen with these account? Will they implement charges there as well? That would be very much unfair.
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arbusers
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Re: Matchbook introduce increased commission and premium charges
« Reply #10 on: October 10, 2018, 11:33:54 AM »

Maybe this has something to do with the new taxes on gambling from Ireland.
https://arbusers.com/index.php/topic,5988.0.html
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kustef
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Re: Matchbook introduce increased commission and premium charges
« Reply #11 on: October 11, 2018, 07:57:09 AM »

Ok.. according to my info this PT is not for everyone. Only for very small group of people, who probably making big profits.. If your account is affected with PT,  they will contact you by mail..

I believe you are talking about Premium Charges so it is not PT but rather PC.
It is a stupid thing to do for Matchbook. They didn't learn from Betfair.
Players focusing on American sports will feel the loss. As for the rest I don't think someone really cares.

Yes sorry i dont know why i always say PT instead of PC ..  >:(
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Re: Matchbook introduce increased commission and premium charges
« Reply #12 on: October 11, 2018, 08:55:00 AM »

Ok.. according to my info this PT is not for everyone. Only for very small group of people, who probably making big profits.. If your account is affected with PT,  they will contact you by mail..

I honestly cant imagine any scenario where any customer would agree to this under any circumstances.

I mean it would be like betting on 2.0 odds and actually getting 1.4. 

At least with Betfairs hideous charge they have a lifetime win amount which makes it not touch anyone but the biggest winners, and also they take into account commission paid over the life of the account as well.

This will also kill a lot of business from arbers, as we cant afford to take a 2% charge let alone a 60% one!!!

I honestly cannot understand why they would possibly do this, and how they think it will increase revenue rather than cost them customers, liquidity, reputation and money , I would love to have been a fly on the wall at the meeting where they discussed this.
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DPG
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Re: Matchbook introduce increased commission and premium charges
« Reply #13 on: October 11, 2018, 08:55:18 AM »

Ok.. according to my info this PT is not for everyone. Only for very small group of people, who probably making big profits.. If your account is affected with PT,  they will contact you by mail..

The threshold is 20,000 USD, roughly 15,000 GBP which is not a big amount and on the contrary a very small amount as it is taken for the lifetime of the account. As arbers you can win that amount of money in no time at all. Matchbook would be best off closing down as they are stupid imbeciles.
« Last Edit: October 11, 2018, 08:57:39 AM by DPG » Logged
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Re: Matchbook introduce increased commission and premium charges
« Reply #14 on: October 11, 2018, 09:20:05 AM »

Ok.. according to my info this PT is not for everyone. Only for very small group of people, who probably making big profits.. If your account is affected with PT,  they will contact you by mail..

The threshold is 20,000 USD, roughly 15,000 GBP which is not a big amount and on the contrary a very small amount as it is taken for the lifetime of the account. As arbers you can win that amount of money in no time at all. Matchbook would be best off closing down as they are stupid imbeciles.

Bit more blunt than me but I totally agree with you!
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