Well, I deposited $800 with my ***** card, which works for me on every casino and poker room I've ever played at.
I was surprised as hell!
WTF????
So I can't play with all $800, only $760.80? I understand that you pay a 1 or 2% commission on the lesser of the tobet/towin amount, but you don't pay 4.9% commissions! If this is normal for betting exchanges, this is a surprise for me. Why not hold 2% of your deposit in commission credits? Plus some commissions are only 0.6% like on MLB Moneylines.
I have to admit, I don't know what the commission is on NFL or NBA. The main page just talks about MLB commissions. In my opinion, Matchbook could do a much better job at making this clearer; for example when you place your bet, the ticket could say "commission charge=$x.xx" in addition to the tobet / towin amounts, but it doesn't. You're expected to compute that yourself I guess.
It says on another web page "we reimburse you for 4.9% fees on your credit card". But the fee for depositing on ***** is $1 ! I don't get charged 4.9% by *** for using the card! $1 always!
I guess I have no other choice but to keep playing until I use all my commission credits.
Do they do this to discourage arbitrage traders? I think that theory makes sense since usually arber's are going to get 1-4% on their trade, which is < 4.9%. I don't see why a betting exchange would want to discourage arbers though - they should welcome as much action as possible, right?
I was surprised as hell!
Your transaction (ID #1165101) has been processed.
$800.00 has been requested for deposit.
$760.80 has been added to your Account Balance.
$39.20 has been added to your Commission Credit balance.*
Please see Betting Commissions for full details on Commission Credits.
$800.00 has been requested for deposit.
$760.80 has been added to your Account Balance.
$39.20 has been added to your Commission Credit balance.*
Please see Betting Commissions for full details on Commission Credits.
So I can't play with all $800, only $760.80? I understand that you pay a 1 or 2% commission on the lesser of the tobet/towin amount, but you don't pay 4.9% commissions! If this is normal for betting exchanges, this is a surprise for me. Why not hold 2% of your deposit in commission credits? Plus some commissions are only 0.6% like on MLB Moneylines.
I have to admit, I don't know what the commission is on NFL or NBA. The main page just talks about MLB commissions. In my opinion, Matchbook could do a much better job at making this clearer; for example when you place your bet, the ticket could say "commission charge=$x.xx" in addition to the tobet / towin amounts, but it doesn't. You're expected to compute that yourself I guess.
It says on another web page "we reimburse you for 4.9% fees on your credit card". But the fee for depositing on ***** is $1 ! I don't get charged 4.9% by *** for using the card! $1 always!
I guess I have no other choice but to keep playing until I use all my commission credits.
Do they do this to discourage arbitrage traders? I think that theory makes sense since usually arber's are going to get 1-4% on their trade, which is < 4.9%. I don't see why a betting exchange would want to discourage arbers though - they should welcome as much action as possible, right?
