Exchange ratings

[Dark Horse]

Cashed out at Tradesports after they were downgraded here first to B- and then C+. But I'm taking another look at them. In the new climate financial security is the number one priority. And as far as I know Tradesports is very reliable when it comes to paying.

Matchbook is probably the better exchange, but Tradesports is right up there for featured games (nationally televised). I would rate Matchbook A and Tradesports B+ to A-, which is much higher than the official ratings here. So my question is: does SBR hold exchanges to higher standards? If so, why? It is much easier to make a profit when playing directly against other gamblers than against the house. Not only is the vig lower, but, just as importantly, the player -not the house- benefits from square action!

When I look at my records over the years my profit margin at exchanges definitely exceeds that at regular books. Not even close. I'm sure many others have a similar experience. So, if we all have the best interest of gamblers in mind, why do exchanges such as Matchbook and Tradesports not get two major thumbs up?!

The only problem I have with exchanges is the lack of action. This can be solved through better feedback. The more people play at exchanges, the more action. In the long run greater popularity of exchanges could force books to lower their juice. So unless we all love to play at full juice against some very sharp linesmakers, let's start giving these places their due. Instead of holding them back with overly critical ratings.

[Dark Horse]

Just remembered that Tradesports may be on its way out. The split with Intrade (non-sports events) opens the door to that.

[Arilou]

I couldn't agree more, and if there are any worthy exchanges that welcome USA action besides Matchbook I'd love to hear about them. The only problem with Matchbook that I consider signifigant is the issue of action; no one has the incentive to spread tightly a market that is not being traded actively, as they only open themselves up to risk due to steam. Kind of like a normal sportsbook.

The basic problem is that ratings are based, as I understand them, on a speed of the slowest ship model. Your rating reflects your worst feature, so exchanges without guarenteed action can't get an A rating no matter what else they offer. I consider this backwards; safety is make or break of course, but after that you don't have to be an all-in-one book to be top level.

However, I had an idea. No idea if it is viable. If someone wants to trade a game at Matchbook, maybe there is a way we can signal that - say post a topic that says "Gonzaga, 2/13 Matchbook request for 7pm" or whatever, and then everyone who wants a side in that game could know to try and trade that game at that time. If I know there's someone willing to lay -105 to get a side, which makes perfect sense for them, why wouldn't I put out -105/-105 for them and see if they bite?

[Korchnoi]

I consider TS my rock acct. They're my Pinny. That's why I was so suprised at their C+ rating. I've read into the explanation and it mostly has to do with questionable grading on prop wagers. It's very difficult to take into account all the things that can potentially happen in some wagers, and they've been accused of changing interpretations after the face. One example that comes to mind was the "first justice to leave the supreme court." After O'Connor announced she was retiring, TS settled the contracts. Then Rehnquist died. You could make a case that the Rehnquist contracts should have expired at 1, but it was too late. Exchanges don't really have the possibility of grading unclear situations in the player's favor, bc the exchange can never win or loose to one of their decisions. There's no house money to give back.

At any rate, none of this applies to sports betting which is black and white. I'm also suprised more people don't use exchanges. It's the new-economy, elimante the middle-man model (Geico, Ebay) model.

[Dark Horse]

You're right that exchanges and avoiding the middle man are the new and improved market model. As so often, unfamiliarity with the concept keeps many gamblers away.

The problem of liquidity affects only a small percentage of bettors. And that problem will take care of itself once the advantages of exchanges are more widely understood.

The TS contracts that were open to interpretation and caused problems are no longer part of TS and have been moved to Intrade. Since the problems occurred on what are now Intrade contracts, one could easily argue that TS should be upgraded to B.

At this point Matchbook is clearly superior over Tradesports. Liquidity has increased since Pinny left the US market. As to 'advertising' contracts on a forum, it's a good idea, but prices and lines move so fast that I'm not sure how practical it is to give prior notice. For the most part I try to offer contracts at or close to +100, because speed is more important to me than an extra 5 cents, and people seem to like the idea of sharing the exchange edge by splitting the difference.

The question remains why exchanges seem to be held to a higher standard by SBR, especially since they offer the bettor a far greater edge than -110 or even -105 style books ever will. I would really like to understand why Matchbook still doesn't have an A rating. Someone from SBR?

[statguy]

You're right that exchanges and avoiding the middle man are the new and improved market model. As so often, unfamiliarity with the concept keeps many gamblers away.

The problem of liquidity affects only a small percentage of bettors. And that problem will take care of itself once the advantages of exchanges are more widely understood.

The TS contracts that were open to interpretation and caused problems are no longer part of TS and have been moved to Intrade. Since the problems occurred on what are now Intrade contracts, one could easily argue that TS should be upgraded to B.

At this point Matchbook is clearly superior over Tradesports. Liquidity has increased since Pinny left the US market. As to 'advertising' contracts on a forum, it's a good idea, but prices and lines move so fast that I'm not sure how practical it is to give prior notice. For the most part I try to offer contracts at or close to +100, because speed is more important to me than an extra 5 cents, and people seem to like the idea of sharing the exchange edge by splitting the difference.

The question remains why exchanges seem to be held to a higher standard by SBR, especially since they offer the bettor a far greater edge than -110 or even -105 style books ever will. I would really like to understand why Matchbook still doesn't have an A rating. Someone from SBR?

I am talking a long look at Matchbook, that is if my Pinny funds ever arrive. 22 days and counting..... It realy does look like a great model and liquidity should improve.

Has anyone had a bad experience there, not counting the slowdown in payments that are industry wide right now?

Thanks

[Korchnoi]

Why is it you guys think Matchbook is better than TS? I don't disagree necessarily, but I've used both and didn't feel Matchbook was particularly better. Fees are almost the same.

I guess since Matchbook only charges on expiration of contracts, it might be better for in-game trading. Is the liquidity better on MB?

[Dark Horse]

Off the top of my head: liquidity, location (no extradition to US, so no legal reason to close down), and WSEX reputation.

[pags11]

I've really enjoyed my experience the last two years with matchbook...