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Matchbook

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antemartic
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Re: Matchbook

Fri Mar 25, 2016 1:54 pm

Matchbook copy pinnacle odds. they copy all odds for tennis
Last edited by antemartic on Fri Mar 25, 2016 2:33 pm, edited 1 time in total.
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Re: Matchbook

Sat Mar 26, 2016 9:54 pm

antemartic wrote: Matchbook copy pinnacle odds. they copy all odds for tennis
Yep, but they shave off a couple of % on the pinny and then you pay 1%.  (or 1.15% in the UK)

So only of use rarely.  They should be offering 102% of what pinny offer, which will still make them 3% and generate much more business.
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Re: Matchbook

Sat Sep 17, 2016 7:02 pm

MaxShalamar wrote: Is anyone else having problems with the Matchbook racing wallet? - last few days my exposure figure is actually a minus figure and now my available is in minus too :D

Three chat sessions have solved nothing apart from a promise to pass it onto the techs  and an email when it's solved each time

Other problems over the last 2 weeks is the racing wallet having a zero balance when there is plenty there and races being suspended for no reason - the racing platform there has really gone tits up after working perfectly for the first few weeks - I don't know why it's taking so long to integrate the two wallets and why the sports one works fine and the racing one is shite
Never do horses, but why it needs a seperate wallet is beyond me lol.  Same with BF aussie wallet.  Only reaon they have it is because Australian regulators wont stand for betfair creaming off cross matching profits. So much so they dont bother cross matching on most aussie sports, which just shows its only done to rip off their customers. They rob us blind on the UK cross matching wallet believe me!
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Re: Matchbook

Sat Sep 17, 2016 7:10 pm

MaxShalamar wrote: Betfair announced last week they were finally merging the normal and Aus wallets

Matchbook has just gone from a good start to total clown shoes and they have been saying both wallets would be merged since they brought in the horse wallet and that has been at least 9 months IIRC

You can see why Betfair had two wallets because of regulations but no reason why Matchbook should have two
Thats good news re Betfair, are they going to be fair on the UK markets, or rip off both the UK and Aussie ones now lolol
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Re: Matchbook

Mon Oct 31, 2016 3:35 pm

Matchbook are desperate: https://www.matchbook.com/page/faqs/commissionfaqs/

They have now changed their commission from 1.00% per bet for all bets (with 1.15% for UK and Ireland residents) now to 1.50% per bet (1.70% for UK and Ireland residents) if you bet on a price that's already on the site and 0.75% per bet (0.85% for UK and Ireland residents) if you offer a new price onto the market and get that new offer accepted.

It says 1.75% on some pages for UK and Ireland residents, but other pages it says 1.70%, and as the standard 1.50% commission is double the 0.75% bet offer commission and as the UK and Ireland resident bet offer commission is 0.85%, I expect the standard UK and Ireland resident commission is 1.70% as that is double the 0.85% bet offer commission.

This is a complete hodgepodge of crap from Matchbook. Already their product was extremely poor as:

1. They still have two wallets and horse racing and sports.

2. They have added rip-off casino and colussus products which should never even be on any proper betting site that values customers getting a good deal, especially as they are nowhere near to cracking the exchange product that they should be focusing absolutely all of their efforts onto, so any of their attentions being diverted to colossus and casino products is an obvious minus.

3. Their promotions are always so complicated and convoluted.

4. They charge fees if you don't rollover your deposit a certain number of times based on a complicated mathematical equation.

5. Apart from a few markets they are just a Pinnacle clone with the added disadvantage of commission being taken off the true Pinnacle prices.

6. They have such a silly complicated commission system that's very hard to quickly work out accurately.

7. They have passed on the UK and Ireland point of consumption tax to their customers rather than absorbing it themselves.

Although Matchbook will try and dress this commission rate change up as a plus for customers that want to offer a new price onto the market getting a lower commission rate, the reality is that there isn't much competition for new prices on all exchanges, especially on Matchbook, as with all exchanges most of the volume is operated by bots and professional exchange traders and you'd be waiting a long while to have a chance of a new offer being matched on most of Matchbook or any exchange's markets.

So the reality is that the vast majority of their customers just go on their site to bet the price that is currently on the market, and these customers aren't going to be bothered putting up a new offer price and waiting for minutes, hours or days to see if their bet gets matched, all they will want to do and all they will continue to want to do even after this change is to bet quickly at what's available on the market. So therefore the vast majority of Matchbook's customers which would be the ones that just go on their site, bet quickly on what's there and won't be changing that way of betting as a result of this change, they've just seen their commission rate on a net win commission equivalent instantly jump up to 3.00% or 3.40% for UK and Ireland residents.

If Matchbook think that lowering the commission on bet offers is going to change a significant proportion of their customers' way of betting into changing to offering prices instead of just accepting prices, they've got no chance of that happening. This is an increasingly instant world and customers want to just login, see a price that's there and bet it, they don't want to have to offer a new price and wait minutes, hours or days for anything potentially to happen, that's not the way the world works nowadays, everything has to be as instant as possible, and people just going on there and betting on the current available price shouldn't be put at any disadvantage whatsoever for doing that, but that's exactly what Matchbook are doing, significantly disadvantaging customers that bet on the current price that's available, and those customers that do that are the vast majority of all of their customers.

All that's going to happen with this change is that the vast majority of their customers who are just bet accepters will continue to just be bet accepters, and they will notice that their commission has been hiked to 3.00%-3.40% as an equivalent of net win commission, and they'll soon clear off from Matchbook as a result of this commission hike.

This is complete corporate suicide from Matchbook and will result in a mass exodus of their customers. They're obviously struggling otherwise they wouldn't make such a desperate move as this, so even with all that crap I've mentioned above that they're currently failing on in their product, they've now thought that what shall we do, let's hike up the commission for the vast majority of our customers by bullying them into betting the way we want them to bet, not the way they want to bet, and if they don't adhere to our bullying and have the cheek to continue to bet in the way they want to bet, we will hike their commission by 50%. What utter numbskulls.

Companies that bully, force and tell customers what they need to be doing quickly go up in smoke, and Matchbook will be no different with these bullying tactics.

Betdaq tried a stunt like this recently with a lower commission rate for bet offers and they quickly scrapped that and we can all see Betdaq is on a rapid continuing decline to the pits, and this new development from Matchbook looks like a very similar kind of desperate move that Betdaq tried and very quickly failed on.

This is a major development in the continuation of Matchbook's rapidly slippery slide into oblivion.
Last edited by luctens on Mon Oct 31, 2016 4:13 pm, edited 1 time in total.
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Re: Matchbook

Mon Oct 31, 2016 3:56 pm

Have just seen email from them, what a stupid move.
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Re: Matchbook

Mon Oct 31, 2016 4:17 pm

Heh how else you going to increase profits if nobody wants to use your inferior product if not with rising prices for the few regulars. Pathetic.
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Re: Matchbook

Tue Nov 01, 2016 8:02 am

Interesting this has come up now, as I had a serious issue with their markets over the weekend.

I generally only use them lightly, mainly for pre-match.

But this weekend I got involved in unders/overs market in-play. Luckily I escaped without a loss but the actual process was a disaster. There was over 1k @1.62 for an under 1.5 market that I tried to take a chunk of. After initiating my bet there was a good minute or so where nothing happened, no bet confirmation matched or unmatched and no change in the market. Then suddenly the market emptied and another 30 seconds or so later prices returned @less than 1.5 with barely any liquidity. It was a serious error.
I approached customer service about it who admitted there was a "spike" in the system at that time and that it would be investigated, but they also told me they would not explain to me what happened when they find out.

Basically it sounds like one of their traders was asleep at the wheel and they messed up, but won't claim responsibility for it. I got out unscathed luckily and after this news today plan on limiting my exposure there even more than I had already.
Matchbook had real potential in my mind but the last couple of days has put me off of using them completely.
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Re: Matchbook

Tue Nov 01, 2016 1:07 pm

Hi all,

It's been a little while since I've been active here but I would like to address a couple of things, and try and answer any questions you may have.

Firstly, you may or may not be aware, but horse-racing was launched in July, on a brand new system that we have built. This is why there are two wallets currently, as we are temporarily running two systems in parallel. This new system has been 18 months in the making, and yes, we have had some issues (like the £0 on wallet) over the last number of weeks; however, all of the key things that we measure from a customer perspective are far superior on the new system.

We are currently working on moving all other sports across, so everyone gets to benefit from these improvements, and this kicked off last week, with tennis now also running on the new system.

As for the commission changes - we have spent a lot of time analysing the profile of users on the exchange, and have made the changes to try and improve the level of activity on the exchange. As has been mentioned already, there are a lot of automated trading systems active across all exchanges, but our goal is to have as many punters betting against each other as possible and we believe that these changes will help affect that.

This is about affecting betting behaviour and more customers posting offers, means better odds available. It's important to remember, even if you just want to accept a bet, you only need to get 1 point bigger (than you previously would) on the decimal odds ladder to offset the extra commission charged.

If there are any specific questions, I'm happy to answer them here as best I can.

Thanks,

Mike
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Re: Matchbook

Tue Nov 01, 2016 1:47 pm

MaxShalamar wrote: So you are saying we have to try and get a bigger price in the hope that it gets matched to offset the commission rise?

There is still a commission rise
Sorry MaxShalamar, my point was that, with more customers posting offers, there should be more opportunities to get that better price.
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Re: Matchbook

Tue Nov 01, 2016 1:53 pm

This is simply a commission rise for any arber.  No arbers have time to post offers, they will take the best odds available whether its another base book, or an exchange whichever is best after commission. 

Unless this change increases the prices on matchbook (which I highly doubt), it will result in less business for them.  Most of my matchbook bets over the last 6 month I would have placed elsewhere at 3.4% (which is the rate as you pay tax on losing bets also)
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Re: Matchbook

Tue Nov 01, 2016 1:56 pm

This was a bad idea, plain and simple.  You cannot get a user increase and more offers posted by making your current users less satisfied, if anything at least some clients will use the platform less because of it and therefore the number of posted bets will decrease.  Those that were already using the platform will simply be less inclined to take offers that were already posted as they will pay more commission. They will not go to the trouble of posting offers themselves because they are aware of the lack of real users on the platform and they know a bot will not take the posted offers. The only way to increase the amount of offers being posted is to increase the userbase.  The only way to do that is get cheaper than your competition.

The only thing that would work imho is create an offer where new users don't pay any commission for several months or get rid of the annoying "pay commission even if you lose" calculation.  The latter greatly confuses users and is a real turnoff.
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Re: Matchbook

Tue Nov 01, 2016 2:49 pm

Matchbook wrote: This is about affecting betting behaviour and more customers posting offers, means better odds available. It's important to remember, even if you just want to accept a bet, you only need to get 1 point bigger (than you previously would) on the decimal odds ladder to offset the extra commission charged.
You won't change customers' betting behaviour by bullying them into saying change to the way we want you to bet, not the way you want to bet, otherwise we'll hike your commission by 50%. Customers will simply go the other way when forced with that ultimatum, they won't do what you want them to do, they'll say they've had enough of being treated like that and they'll go and bet somewhere else, plain and simple. That's bullying tactics and customers vehemently despise being told what to do or being told the way they should be as a customer.

And your comment about only needing to get 1 point bigger to offset the commission increase is farcical. Exchange prices are very uniformed and extremely similar across all exchanges, so getting 1 point bigger isn't just as easy as saying it. It would be an almighty task trying to get 1 point better each time. If something is 2.00, then it's 2.00 across all exchanges, and you won't get 2.01 matched unless the price moves on all other exchanges and other sharp books. This new commission structure won't make many customers start offering new prices at all like you seem to hope in your deluded world. It is an instant world where people can't be bothered to post a price and wait minutes, hours or days to see if it gets matched, they just want to login and see the price and bet on it instantly, and when customers see that doing that is going to get their commission hiked by 50%, they'll simply clear off from your site.

And getting 1 point extra will only to offset the commission charge and get back to where you were before for goodness sake. To get any better than where you were before, you would need to get 2 points better, so getting 2.02 on a 2.00 shot. Even more wild west thinking if you think that's going to happen. And even if you somehow get somebody offering 2 points better than any other exchange or any other betting operator, even after all of that messing about which isn't going to happen in the first place, then you'd only be back at around about the same prices after commission that Smarkets offer just by logging in and betting with them without any messing about, with Smarkets also working towards reducing their commission down to under 1% net win commission.

Yet another open goal for Smarkets to walk into.
Last edited by luctens on Tue Nov 01, 2016 3:04 pm, edited 1 time in total.
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Re: Matchbook

Tue Nov 01, 2016 3:01 pm

MaxShalamar wrote: When you look at a horse market and see £22/£23 liquidity for every horse alarm bells have to be ringing - is this fake money to attract bets? - is the book even balanced?

Image

Does that look normal to anyone?
What that looks to me is a market with very little liquidity and very little interest. A complete and utter mess.

There's a very obvious reason Matchbook don't post the amount traded figure of each market on their sites like all other exchanges, and that's because they would be extremely embarrassed with how they compare to the other exchanges.
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Re: Matchbook

Tue Nov 01, 2016 3:10 pm

MaxShalamar wrote: They lay liquidity is £23 for most horses - the liquidity of the next odds up is £67 on most horses - that looks fake and manipulated to me - is that real money offered by a real punter or just a contrived figure put in there by Matchbook?
I expect it is real money sitting there, whether that's from a real punter or an exchange bot or whatever. But the point is, compare their horse racing prices to Smarkets and pretty much all their prices are the same or worse than Smarkets and Matchbook charge higher commission on taking those prices than Smarkets do. So on Matchbook, it's same or worse prices with higher commission on top of that. So whether the money is fake or not, it doesn't make a jot of difference, as they still don't compete with Smarkets anyway so there's no reason to bet with them whether the money shown is fake or not.

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