Matchbook - Parlays.

[betplom]

As Matchbook becomes more popular I believe they should/could offer parlays (or teasers, futures etc.).

I'm sure their site software could be modified to allow someone to create a parlay they would like to play and the expected payoff, then anyone who would like to take the action could book it.

I'm somewhat surprised it hasn't been offered yet.

Parlays and other "exotic" wagers are the only reason I need to use books other than Matchbook.

[LargeMouthBass]

You are kidding right?

[betplom]

You are kidding right?

I like to joke around in response to something funny in an ongoing thread. I'll start a new topic if I'm looking for some helpful information.

This topic may be interesting to some, others might just pass over it. I was hoping for some quality in the responses as their are some smart/helpful people that post here & I usually enjoy reading what they have to say.

Your remark is not, helpful or informative in any way. I'm not even sure why someone would take the time to post such a reply.

[LargeMouthBass]

Are you willing to put up $1000 to win $10?

[remmy358]

I like to joke around in response to something funny in an ongoing thread. I'll start a new topic if I'm looking for some helpful information.

This topic may be interesting to some, others might just pass over it. I was hoping for some quality in the responses as their are some smart/helpful people that post here & I usually enjoy reading what they have to say.

Your remark is not, helpful or informative in any way. I'm not even sure why someone would take the time to post such a reply.

i agree that it's not a crazy idea. i think matchbook could offer parlays - they might not be nearly as popular as straight bets, but i'm sure there would be some action on them.

[Kaps]

they did offer parlays but only during big events like supeerbowl and ncaa finals.....

[Dark Horse]

Parlays don't work too well with the exchange format. But as long as the games aren't played at the same time you can easily set them up yourself. Just bet on one game. If it wins, place the original stake plus winnings on the second game. At MB you should be able to do so for much better than standard parlay payouts.

[jjgold]

Plenty of other solid books to play parlays

matchbook is an exchange not some gimmick book

[WileOut]

I'm just hoping Matchbook sticks to the 2% commission. I'm thinking they may build up a big following then up it to 4%. If they just stick to 2%.....thats all I want.

[ForgetWallStreet]

I'm just hoping Matchbook sticks to the 2% commission. I'm thinking they may build up a big following then up it to 4%. If they just stick to 2%.....thats all I want.

I wouldn't worry. The more action they book, the more they rake in at 2%. I doubt they'd get greedy considering it's essentially free money. If anything a decrease in action would be more likely to cause a rate increase than in increase in action would.

[Ganchrow]

As Matchbook becomes more popular I believe they should/could offer parlays (or teasers, futures etc.).

I'm sure their site software could be modified to allow someone to create a parlay they would like to play and the expected payoff, then anyone who would like to take the action could book it.

I'm somewhat surprised it hasn't been offered yet.

Parlays and other "exotic" wagers are the only reason I need to use books other than Matchbook.

I've said it before ... it's my belief that at some point Matchbook in the not-so-distant future will improve on its software to allow the option for market makers to offer parlays. I think it'll be a great for service for Matchbook to offer and should be win-win-win.

It'll be a win for Matchbook as the exchange will become "more of a one-stop shop" and can then expect to see more business.

It'll be a win for players, as they'll be able to find more of their needs met by Matchbook. This will also create a "positive feedback" loop -- the more players that are drawn to Matchbook, the more liquidity that will be created. This will further lower spreads and bring even more players to Matchbook.

And finally, it'll be a win for market-makers as they'll be able to make a killing offering up these parlays (yes, even risking 1,000 to win 10).

Personally speaking, I'd be happy to advise Matchbook on the best way in which to handle this (from both a software and logistics standpoint). I'm sure it will happen eventually ... it's just a question of when.

[Dark Horse]

Based on what I've seen at another exchange: The problem is that they have to set up every possible combination of parlay beforehand. With a hugely increased bet offering the liquidity per parlay is low, and the odds reflect that. So now MB is undercutting its reputation as the place with the best prices.

As mentioned, you can string together parlays at MB. Synthetic parlays. The only drawback being that the games can't be played simultaneously. But that's really not an issue if you let your parlay-quality plays ride for a week or longer. For instance, instead of playing two NFL games on the same weekend, link each with a game from the next weekend.

[Ganchrow]

Based on what I've seen at another exchange: The problem is that they have to set up every possible combination of parlay beforehand. With a hugely increased bet offering the liquidity per parlay is low, and the odds reflect that. So now MB is undercutting its reputation as the place with the best prices.

Not at all. There's no reason why the Matchbook software couldn't be set up to allow a market maker to post lines for, let's say every 5-or-fewer team parlay consisting of some subset of teams A - L, at a premium of, let's 1% over mid-market true parlay odds.

So in other words, a market maker wouldn't have to explicitly set up each every parlay, he'd just specify a range of teams from which parlays could be drawn. The market maker could even specify certain parlay subsets (positively or negatively correlated bets, for example) for which he'd be want to transact at a premium or discount to true odds.

As mentioned, you can string together parlays at MB. Synthetic parlays. The only drawback being that the games can't be played simultaneously. But that's really not an issue if you let your parlay-quality plays ride for a week or longer. For instance, instead of playing two NFL games on the same weekend, link each with a game from the next weekend.

Yes, for players simply looking to "parlay" noncontemporaneous games without need to "lock in" a specific price, that would obviously be a possibility.

[WileOut]

If anything a decrease in action would be more likely to cause a rate increase than in increase in action would.

More demand=higher prices. Eco 101.

[betplom]

market maker, could easily be setup for this.

[biggamer3]

Found this topic interesting

was thinking maybe combination of just 2 or 3 team parlays can be made from the same sport

On a night like tonight when there are just 3 NBA games, why not have all three games in different parlays? They will get some action on each one

[chemist]

Not at all. There's no reason why the Matchbook software couldn't be set up to allow a market maker to post lines for, let's say every 5-or-fewer team parlay consisting of some subset of teams A - L, at a premium of, let's 1% over mid-market true parlay odds.

So in other words, a market maker wouldn't have to explicitly set up each every parlay, he'd just specify a range of teams from which parlays could be drawn.

And where do these "true parlay odds" come from? The individual markets? I think you'd need some pretty good software if the market maker is to keep his skin. Sharks will attack by manipulating the odds in the source markets.

[Ganchrow]

And where do these "true parlay odds" come from? The individual markets? I think you'd need some pretty good software if the market maker is to keep his skin. Sharks will attack by manipulating the odds in the source markets.

Best-bid Pinnacle ... best-offer Greek ... mid-market CRIS ... mid-market Pinnacle+Greek+Bookmaker ... individual market maker forecasts ... take your pick. If you can dream you can do it.

This is excatly what third-market operators first pioneered in the US equity markets of the early 90s (by, among other people, Jeff Bezos of Amazon).

The point is that groups and individuals are already making singles markets on Matchbook. The jump to multiples for such market makers, while certainly not trivial, is more an issue of programming than of the underlying economics.

[Art Vandeleigh]

They have parlays at Betfair on selected markets. They call them "multiples". 2 to 8 teams.

[chemist]

They have parlays at Betfair on selected markets. They call them "multiples". 2 to 8 teams.

Betfair multiples are not an exchange product. Betfair acts as the bookmaker. The exchange parlays on Betfair are accumulators. Soccer->English->Barclays->Accumulators

[Art Vandeleigh]

Betfair multiples are not an exchange product. Betfair acts as the bookmaker. The exchange parlays on Betfair are accumulators. Soccer->English->Barclays->Accumulators

Thanks for the clarification.