Change of matchbook commission structure

[craftbrewer]

I remember matchbook used to charge 1% both for winning and losing bets and I heard that trading the same way like on betfair was not welcome on matchbook. I just found out they had changed their commision structure and now they charge 2% on net profit on a market. So you will not pay commission on losing bets as it used to be before. So basically the commission structure on matchbook is the same like on betfair now. Does it mean they allow trading like on betfair now? Has anyone tried to trade on matchbook?

[Optional]

I don't think there was any ever rule about traders on Matchbook. Just the unattractive commission structure for that that saw traders not using them.

[ichiro4thehall]

My matchbook account still has the old commission structure that means you pay commission on losing bets as well. Matchbook has introduced the Betfair structure but for horse racing only, I believe, and I think it's 1.5% rather than 2.

[craftbrewer]

My matchbook account still has the old commission structure that means you pay commission on losing bets as well. Matchbook has introduced the Betfair structure but for horse racing only, I believe, and I think it's 1.5% rather than 2.

No, it is not only for horse racing. It is 1.5% for horse racing and 2% for other sports. Probably this rule applies only for new accounts. As my account is new and I was told that from January 1st they will charge 1.5% on net profit on horse racing market and 2% on other sports.

[craftbrewer]

I don't think there was any ever rule about traders on Matchbook. Just the unattractive commission structure for that that saw traders not using them.

Probably there was no such rule in their terms and conditions but one of my friends tried to trade on matchbook couple years ago and when he requested withdrawal after that his withdrawal request was declined and he was told that first he must place normal bets without trading and only after that he will be allowed to withdraw funds.

[HeeeHAWWWW]

Any source please?

FAQs only mentioned cricket as 2% net win, rest still the old system:

https://www.matchbook.com/page/faqs/commissionfaqs

[craftbrewer]

Any source please?

FAQs only mentioned cricket as 2% net win, rest still the old system:

https://www.matchbook.com/page/faqs/commissionfaqs

I signed up with matchbook in 2018 using promotion link (0% commission during 2018 for all new customers) and here is the message I just received from matchbook:
Hi there,
We are glad that you have availed of our 0% Commission rate in 2018. Now that this term has come to a close we will be switching your account to a 2% flat commission structure on sports betting from the 2nd of January 2019 while Horse Racing betting will continue to be subject to our industry best 1.5% flat commission structure.
What is 2% Flat Commission?

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

How much Commission will I pay?

A simplified equation : Commission charged = Net Winnings x 2%
eg - £100 Winnings on a market x 2% = £2 Commission

[euronet]

Also there is option for old accounts to ask them and they will change commission structure to 2% on net winnings (as Betfair).

[ichiro4thehall]

I contacted chat and was told this was for new customers only like craftbrewer who participated in last year's zero commission offer. I asked to change to it and was told they will have to ask the marketing department, wtf?, and get back to me.

This is worringly ill thought out by matchbook. If they allow it only for players like craftbrewer it is unfair having different customers on different commission structures. What's more, lots of people who can't change will still close their existing accounts and find ways to get a new account. If they want to switch to the net winnings model, which most customers would like, they should make it a site-wide policy change or at a minimum allow players to opt in.

[craftbrewer]

I contacted chat and was told this was for new customers only like craftbrewer who participated in last year's zero commission offer. I asked to change to it and was told they will have to ask the marketing department, wtf?, and get back to me.

This is worringly ill thought out by matchbook. If they allow it only for players like craftbrewer it is unfair having different customers on different commission structures. What's more, lots of people who can't change will still close their existing accounts and find ways to get a new account. If they want to switch to the net winnings model, which most customers would like, they should make it a site-wide policy change or at a minimum allow players to opt in.

Why do you want to switch your account to the net winnings commission? Net winnings commission would have been better than the current one (1% both for winning and losing bets) if matchbook had allowed trading. But they don't.

[ichiro4thehall]

Why do you want to switch your account to the net winnings commission? Net winnings commission would have been better than the current one (1% both for winning and losing bets) if matchbook had allowed trading. But they don't.

I'm on the old commission where you can't trade. I want to be on the new commission of net winnings to allow me to trade. Net winnings is the current(your) one. Think you didn't type what you meant to say there.

[craftbrewer]

I'm on the old commission where you can't trade. I want to be on the new commission of net winnings to allow me to trade. Net winnings is the current(your) one. Think you didn't type what you meant to say there.

The thing is, you won't be allowed to trade on matchbook even if your account has been switched to the net winnings commission. At least that's what I was told by matchbook customer support representative in chat. They told me that trading is not welcome on matchbook regardless of what type of commission you are charged.

[vampire assassin]

Why do you want to switch your account to the net winnings commission? Net winnings commission would have been better than the current one (1% both for winning and losing bets) if matchbook had allowed trading. But they don't.

It depends on how you play.

If you play more moneyline favorites than underdogs, a 1/1% commission is better.

If you trade both sides of a match in-game, or if you play multiple options on futures, or lots of moneyline underdogs, a 2% net win might be better.

[ichiro4thehall]

The thing is, you won't be allowed to trade on matchbook even if your account has been switched to the net winnings commission. At least that's what I was told by matchbook customer support representative in chat. They told me that trading is not welcome on matchbook regardless of what type of commission you are charged.

They can't stop you if you are on a net winnnings commission structure. This is why it's so ill thought out. By allowing some customers to be on this structure, the sharp exchange traders with bots will find a way to get these accounts even if they are limited to certain players. This means Matchbook prices will become identical to Betfair.

I don't mind if they kept old model for everyone. I use Matchbook as a bookmaker with great prices that won't limit me. But if they allow players to trade the great prices I get almost disappear.

[craftbrewer]

They can't stop you if you are on a net winnnings commission structure. This is why it's so ill thought out. By allowing some customers to be on this structure, the sharp exchange traders with bots will find a way to get these accounts even if they are limited to certain players. This means Matchbook prices will become identical to Betfair.

I don't mind if they kept old model for everyone. I use Matchbook as a bookmaker with great prices that won't limit me. But if they allow players to trade the great prices I get almost disappear.

They can. As I said before in the post #5, one of my friends tried to trade on matchbook couple years ago and when he requested withdrawal after that his withdrawal request was declined and he was told that first he must place normal bets without trading and only after that he will be allowed to withdraw funds.

[ichiro4thehall]

They can. As I said before in the post #5, one of my friends tried to trade on matchbook couple years ago and when he requested withdrawal after that his withdrawal request was declined and he was told that first he must place normal bets without trading and only after that he will be allowed to withdraw funds.

It's a while since I read Matchbook's terms. I will check tonight but I am pretty certain they have no condition that explicitly forbids trading. At least a handful of times I have made multiple bets in the same market - which is by defintion trading - and had no warning this was against the rules or had any withdrawal issues afterwards.

I suspect your friend's withdrawal was declined as he had not paid enough commission yet to cover his initial depsoit costs to Matchbook. Matchbook are quite strict, rightly so, in this regard of only permitting free withdrawals when players have paid more commission than their free deposit cost Matchbook. By trading your friend would have been paying very small amounts of commission in relation to his deposit cost.

[jjgold]

matchbook bang for your buck your best option non usa players

[Sobob99]

Can you sign up for matchbook in the US?

[Vadym]

I hate premium charges from matchbook but I am not a highroller so it's not significant for me. For me matchbook is an example of perfect UI for betting exchanges. If Firlay has something similar they would have a lot more actions.

[LeBron1992]

Any1 else get the email yesterday about Mbk goin 2%. Does dis mean for all customers? Is this a good thing. I rarely used them with ther complicated comm structure.

[Optional]

Any1 else get the email yesterday about Mbk goin 2%. Does dis mean for all customers? Is this a good thing. I rarely used them with ther complicated comm structure.

Would you please post the text of the email for us?

[LeBron1992]

This email is to give notice that Matchbook will soon be changing our standard commission structure. Effective from the 7th of August 2019 our standard commission rate will be changed to 2% Flat commission on all sports as further explained in our FAQ section available here. Commission will no longer be paid on losing bets, only on the profit made on a market. Any unsettled bets in your account that were placed before the 7th of August 2019 will be settled at the commission rate that was applicable when the bet was placed. By continuing to use the Matchbook website and services from the 7th August 2019 at 00:01 GMT+1 you will be deemed to have accepted the new terms and conditions. If you do not accept these new terms you should cease to use our services, and you may wish to close your account. What does this change mean? Matchbook will now be charging 2% commission as standard on profit on any given market. For full information on this change along with our standard term's and conditions, please click here. Regards, Team Matchbook

[rodneytrotter]

I received that email as well.


Horse racing 1.5% ending on 7th August:

1.5% Net Win Commission on Horse Racing

• This offer of “1.5% Net Win Commission” only applies to Matchbook customers who access the service through our user interfaces (websites and mobile apps) on any Horse Racing betting market from 10:00 BST July 2nd 2018 (the ‘Promotional Period’) until 00:01 on August 7th 2019.

It looks like they are keeping the premium charge, for 'big' players

[craftbrewer]

I just received the following email from matchbook:
Hi there,

This email is to give notice that Matchbook has updated its terms and conditions which can be found in full here.

By continuing to use the Matchbook website and services from November 19th 2019 at 11:00 GMT+1 you will be deemed to have accepted the new terms and conditions. If you do not accept these new terms you should cease to use our services, and you may wish to close your account.

Matchbook customers located in the United Kingdom, Isle of Man, Channel Isles and Ireland shall be charged a 2% commission rate on net profits, all other customers shall be charged a 4% commission rate on net profits, as explained further in our FAQ at https://www.matchbook.com/page/faqs/commissionfaqs.

If you have any questions you can get in touch with our customer service team via Live Chat, or by emailing support@matchbook.com

Regards,
Team Matchbook

[Limited]

They really want to get rid of all international customers except those living on UK territories? With 4% commission there is no more reason to use them.

[craftbrewer]

I don't know why all bookies care so much about British market. Less than 70 million people live in the UK. There are many countries in the world where much more people live which means there are much more punters in those countries compared with the UK.

[jusebega]

I withdrew all my money from Matchbook today.

[PunterLog]

A 4% commission rate and a possibility of a premium charge of 60% if your profits are over 20,000$. Beyond ridiculous!

The betting industry is so screwed up that they make Betfair look like saints.

[Limited]

How about MB via the agents? Are they also increasing to 4%?

[caramba]

Bumping an old thread. What's the deal with premium charge there? Have not found anything about this on their site, but I've seen this PC for accounts in 20,000 profit. Was this scrapped or does this PC still exist?

[Optional]

Bumping an old thread. What's the deal with premium charge there? Have not found anything about this on their site, but I've seen this PC for accounts in 20,000 profit. Was this scrapped or does this PC still exist?

Good question, lots of changes there.



Not related but I saw this article yesterday;


Matchbook has guaranteed its UK and Ireland customers that it will maintain all player funds within an ‘independent trust structure’.

The measure has been adopted by the online betting exchange to secure its ‘High Protection status’, upholding the UK Gambling Commission’s (UKGC) guidance on protecting customer funds.

“Customers can rest assured that the funds they hold with Matchbook are safe and secure in the unlikely event that the company would become insolvent,” Matchbook detailed in its statement.

The Cork-based operator said that it has disclosed the measure to provide customers with full transparency on day-to-day operations, adding that ‘Matchbook strives to provide a safe environment that adheres to the highest regulatory standards’.

Matchbook returned to business last August after its licence suspension was lifted by the UKGC, who had penalised Triplebet Ltd – the firm’s operating company – for a failure to disclose business relationships and monitor compliance checks with betting syndicates.

The UKGC lifted Matchbook’s suspension following a complete overhaul of the operator’s compliance and AML reporting procedures.

Matchbook’s CEO Farzad Peyman said: “At Matchbook, we have consistently aimed to put the customer front and centre in our ongoing development. Coupled with our exceptional customer service, the addition of this trust structure will add to the already positive and open relationship we have with our community.”

[jjgold]

matchbook is a real small operation now after getting busted having agents in USA about 2 years ago

[bookie]

Haven't been able to play their in years, but will always have a soft spot for MB. Loved that I could get NBA dimes matched at near post and 2H consistently at commission-included -103, and also appreciated that when they had their WSEX divorce and kicked out Americans they sent a big balance with no hassles.

Would play their again in a heartbeat if I had access, or if the equivalent ever comes online here. It's amazing to me that exchanges have gone backwards from where they were fifteen years ago.

[caramba]

I talked to them. There are extra fees if they deem you a commercial member (which according to them is very rare), but I was told such fees would only be applied after they had labeled someone a commercial member and informed the person, so I'll give them a try. I need a back-up for when Betfair's site crashes.

[satana]

I don't know why all bookies care so much about British market. Less than 70 million people live in the UK. There are many countries in the world where much more people live which means there are much more punters in those countries compared with the UK.

It's amazing to me that exchanges have gone backwards from where they were fifteen years ago.

They, like bf, decided to oblige to foreign govs in not letting their citizens sign-up. It still puzzles me how books haven't dismissed these requests and wait for govs to pursue legal actions (being in the wrong).