Mansion exchange - a bit of a tutorial

[Mudcat]

I've had three private messages now with questions about how it works so I think maybe some people are seeing all the mangy, veteran degenerates around here and not wanting to starts threads with newbie-type questions. So I just thought I would post some of the basics about it.

Don't get me wrong; I don't mind the private messages. But maybe this will be of some help to someone.

And don't hesitate to jump in if there are follow-up questions. My write-up here may not be crystal clear. All the SBR people will be glad to help and the other mangy, veteran degenerates probably will be too.




For the Mansion exchange, any money you have at Mansion is equally available to the sportsbook and exchange. You can toggle back and forth just by clicking the tabs.

So for the exchange you go to the sport you want and you will see a lot of match-ups and lines. Beside the lines, you will see numbers which are dollar amounts that are available to bet on that line. Things will change constantly as people around the world buy up pieces of the action or else enter new offers.

If you like something you see, you click on the little box for that line, then the little green button for ADD SELECTION. That will open up a confirmation window at the top where you can fill in your dollar amount and then confirm.

You can view/hide your open exchange bets in this window at any time by clicking on SHOW MY BETS or HIDE MY BETS. Also in that window, you are able to view your Offers. (Note: sportsbook bets don't show up in this window. You have to go to My Account.)

You can also place offers. If you want a line that is better than anything available on the board, click on the best line you see and you will find that you can adjust it from the confirmation screen. After you confirm, you will see your offer go up on the board. (Example: say you enter Yankees -120 risking $600 to win $500. You will see the other team +120 for $500 to win $600 show up on the board.) Then you just wait and see if anyone buys it up. And you can cancel your offer at any time by clicking the red cancel button beside the line where the offer is displayed.

If you win a bet as a "seller" (meaning an offer you have placed is bought up and you win), Mansion keeps 0.5% of the winnings as a commision. If you win as a buyer (meaning you have bought up some action that was already on the board) there is no commision.

Just a little note: it's important when you place a bet to make sure it was accepted. (i.e. has your balance changed and is it showing as a confirmed bet?) Things can move fast on the exchange and if someone beats you to it, what you entered will become an offer which may or may not get bought up and become an actual bet. You can cancel offers at any time.

There are some finer points and features but those are the basics.

[jjgold]

You see that is why they will never get heavy volume

They meaning exchanges, just too confusing for the average bettor

Most just want to bet spread

[Mudcat]

You're probably right but I have been getting some questions - and Mansion really is worth it for serious bettors - so I'll give this a bumperoo.

[bookie]

You're certainly right that it won't be worth it to the average bettor to take on the extra hassle of learning a new format, but if it exchanges make possible liquid markets at -103 larger players will certainly gravitate to them.

[jjgold]

Only advanced gamblers are playing in the exchanges and that is not enough for them to be successful

[tacomax]

Only advanced gamblers are playing in the exchanges and that is not enough for them to be successful

Maybe true at the moment, jjgold, but the times they are a changing.

10 years ago if you wanted to place a bet, you'd go down to your local bookie and place your bet. The only shopping around for odds you would do is possibly checking the prices at the bookie in the next street. More likely you would just take whatever prices were at the first bookie, inhale copious amounts of second hand cigarette smoke and then head off home.

The internet gives people the ability to be smarter these days - they can check the prices online with any number of bookies and place bets where they want. Then you get to the exchanges where you can just about guarantee better prices. Sure it takes a while to get the hang of it, but the serious players are moving that way. And, in time, the average joe will be increasingly playing there. Interestingly, Ladbrokes are moving towards an exchange model (to what extent I do not know) since they know that Befair has the power to take the market from them.

Of course having the ability to be smarter doesn't mean that they will be smart. You'll always get people backing at -110 when they can get reduced juice at any number of books. Same way that you'll get people buying from their local store when Amazon.com can blow them out of the water in terms of prices.

[Illusion]

I agree, your average player will stay away from exchanges.

[jjgold]

I still cannot see American books going in that direction. Some have tried and just could not get the volume

The Exchange thing for some reason is more of a Euro thing and it just works

[tacomax]

I think the success of the exchanges in the UK are the result of the British being screwed for years.

There was a big soccer match today and at Ladbrokes, if you bet equally over the 1x2 results, you'd be sitting on a 6%+ loss. That's a nice little earner for the bookie. And this is on a big match - a lower division match and the spread would be even higher. Go to Betfair and you're looking at a loss of about 1-1.5% after taking their commissions into account.

Now I'm looking at the Cubs/Cardinals match tonight. Match both sides at Bodog on the ML and you're looking at a 2.1% loss. Go to Pinnacle, the loss is 1.7%. Popping over to Mansion, the loss at current odds is 1.5%.

That's the difference. The saving in spread to the UK punters is huge and a player with any sense would bet at an exchange. In the US, a player would be more comfortable sticking to Pinnacle thinking that the benefits of an extra 0.20% saving in juice isn't worth the hassle.

Me? I want that extra 0.20% saving. But I know that I'd be one of the minority.

[jjgold]

I still would think just bet at Pinny and it would be hard to match with exchanges
and a lot easier and less agrravation

[Mudcat]

Yeah it may end up that, on this side of the pond, only the sharp players will use the Mansion exchange. But some of the questions I've been getting have been from newbies too.

FWIW, to anyone reading this who doesn't have the first-hand experience: don't get the wrong idea. It's very easy to use the Mansion exchange. It's true that it's a hair more complicated than Pinnacle but it's definitely not Rocket Science.

Very easy.

[tacomax]

And it's a lot easier for the US guys to get to grips with.

When the British bet on soccer, there are 3 outcomes - home win, draw, away win. You can either back one of those bets or bet against one of those bets at the exchange. That's a total of 6 different bets you can make.

But with MLB/NBA/NFL you don't get draws (ok you might, but realistically you won't) so there are only two outcomes. There's no need to get to grips with laying a result since if you want to lay, say, the Cubs then you'll just back the Cardinals instead.

As Mudcat says, very easy. I'd advise you guys to have a look round there just for the experience. Heck they even give you a bonus for playing there.

[RickySteve]

There was a big soccer match today and at Ladbrokes, if you bet equally over the 1x2 results, you'd be sitting on a 6%+ loss. That's a nice little earner for the bookie.

6% is cheap by soccer 1X2 standards. Pinnacle's 1X2 holds are higher than this and noone would accuse them of having high juice.

[tacomax]

6% is cheap by soccer 1X2 standards. Pinnacle's 1X2 holds are higher than this and noone would accuse them of having high juice.

6% might be cheap in relation to the other players in the market, but it's still massive juice as compared to the ML odds on American sports. I'd accuse Pinnacle or anyone else of having high juice on 1x2 odds if they're charging 6%+ - you can't dispute that this is high juice.

[mad]

6%, sure is considering they usually book at about 2-3%. Sure you didn't make a mistake?

[tacomax]

Looking at the first UK Premiership game on the coupons at Pinnacle - Birmingham/Arsenal. The odds are +282/+100/+225 for 1x2 - that's well over 6% juice.

Granted, they have AH lines (low limits) on 4-cent lines but 6%+ juice on 1x2 odds is too high for Pinnacle or anyone else for that matter.

[RickySteve]

6%, sure is considering they usually book at about 2-3%. Sure you didn't make a mistake?

Yes.

[RickySteve]

As Mudcat says, very easy. I'd advise you guys to have a look round there just for the experience. Heck they even give you a bonus for playing there.

Mansion doesn't mention any sports betting bonus on their site. Where did you see this?

[tacomax]

Bear in mind that I posted that information about 6 months ago. I've just looked on the site and there's nothing there at the moment with regard to a sign-up bonus for the sportsbook.

[pags11]

I asked CS about this when I signed up and they said no sign-up bonus...

[Doug]

offering is where it's at. Take hockey, Pinny pretty much has the best lines. Take the side you want, use Pinny as a guage, make your offer more attractive to a guy that wants the other side, so he takes your offer instead of betting Pinny.

example:

Pinny has

Montreal -109
Boston -101

You want Boston

Put in for Boston at +105

If accepted you get +105, instead of -101, the other guy gets -106.5 ( with fee) instead of -109,good for both.

The best thing about Mansion is free withdrawals, I hate fees.

[bookie]

Doug...glad to hear you've had offers accepted...I've made many best-out-there offers that just sat, but I haven't done it for a while so maybe I'll try again.

[Doug]

They match pretty good, no reason not to take it at Mansion, zero payment problems from day 1.

[pags11]

Doug, I will definitely take your advice of making early offers that offset pinnacle's prices...any juice I save is outstanding...thanks for the tips...

[Doug]

I wanted NO -4.5, instead of paying Pinny -4.5 -105, I offered to buy it at +103, it filled, other guy saves 1 cent, I save 8 cents, Mansion gets 1 cent ( if I lose). Beats Sky -4 -110, didn't check, but that's where I'd expect them to be at with the free half.

[pags11]

doug, appproximately how long does it take for your offers to get picked up on an average saturday in college hoops?...just wondering for future notice...

[pags11]

good thread to bump around this time of year...

[MrX]

Anyone rereading this thread should note that there have been changes in the comission policy.

Mansion now charges 0.5% commission on winning bets for SELLERS.

Mansion charges NO commission for BUYERS.

[jjgold]

Great info but my opinion stands, these type places will never get heavy volume and used more by the sophisticated bettor than average or square type bettor.

[rolemand]

Also it's a good idea to practice making bets and offers for $1 until you get the hang of exactly what buttons need to clicked and what sections you need to look at to verify which bets have been accepted and which ones turned into offers.

That's how I learned.

[jjgold]

Roller why go through all that when you can just use Pinny

Is there really any difference long term?

[Mudcat]

Anyone rereading this thread should note that there have been changes in the comission policy.

Mansion now charges 0.5% commission on winning bets for SELLERS.

Mansion charges NO commission for BUYERS.

Tutorial upated to reflect change. Thanks.

[rolemand]

Roller why go through all that when you can just use Pinny

Is there really any difference long term?

Hopefully an early retirement. Ahhh who am I kidding. It's in my blood now. I can't stop!!!!!!! LOL

[pags11]

guys,

so how often are your offers at mansion getting picked up these days?...

[MrX]

I wouldn't judge too much on me, because I put in most of my offers 10-20 minutes before 1st pitch and we're talking pretty large offers, but I probably get about 1 in 4 or 5 completely matched and about 50% partially matched.