Any former US Players still waiting to receive their payment from them? I requested mine towards the end of the withdrawal period but it hasn't arrived yet...anyone else having this issue? Payment was only a few hundred dollars.
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Why would it be hard to pay your players? Its an exchange!
How does an exchange make money? Commissions.
If they are involved in the actual trading. That leads to a major problem. Because now its a book gambling on the sides. So I would expect my principle, and yours, and everyone elses to be available at all times.
When the new company management bought out the old - if this money wasnt being kept in a separate accouint - and they knew they were going to close their US accounts - they should have had a plan in place AND the money necessary to pay all US players.
It should be quite obvious to all - that the old MB management did not keep the account principles separate - or we would have been paid already - Because that money would not be part of the value of the company being sold because it covers debt.
And it should also be obvious that the new management did not have enough capital to buy MB, and pay all the US players. Or this would be done already.
And of course they will pay you if you are still playing there - you are generating the commissions that they are using to hopefully eventually pay me! They are clearly slow paying, and are using money they make to pay people the money they did not have to coming into this business.
Maybe in the future this new management will do it right. Keep players funds separate. Stop seeding the markets. And use the commissions as their revenue. But for now - their business model is very poor!
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Why would it be hard to pay your players? Its an exchange!
How does an exchange make money? Commissions.
If they are involved in the actual trading. That leads to a major problem. Because now its a book gambling on the sides. So I would expect my principle, and yours, and everyone elses to be available at all times.
When the new company management bought out the old - if this money wasnt being kept in a separate accouint - and they knew they were going to close their US accounts - they should have had a plan in place AND the money necessary to pay all US players.
It should be quite obvious to all - that the old MB management did not keep the account principles separate - or we would have been paid already - Because that money would not be part of the value of the company being sold because it covers debt.
And it should also be obvious that the new management did not have enough capital to buy MB, and pay all the US players. Or this would be done already.
And of course they will pay you if you are still playing there - you are generating the commissions that they are using to hopefully eventually pay me! They are clearly slow paying, and are using money they make to pay people the money they did not have to coming into this business.
Maybe in the future this new management will do it right. Keep players funds separate. Stop seeding the markets. And use the commissions as their revenue. But for now - their business model is very poor!
still waitingComment -
who knows really where all the money is...I do feel for all you guys that aren't getting paid immediately but I'm merely stating its very hard to pay out millions at one time. No book has to do that and If they did I'm sure it would be no different. The same thing happened with Pokerstars and Full Tilt...I am not even a US player and Full Tilt has no funds to pay me or anyone else. From what I've heard, a lot of US players have been paid and I'm sure they are getting to everyone slowly. I hope you guys do get paid soon and Matchbook continues to grow because they are still a top flight book and one of a kind.Why would it be hard to pay your players? Its an exchange!
How does an exchange make money? Commissions.
If they are involved in the actual trading. That leads to a major problem. Because now its a book gambling on the sides. So I would expect my principle, and yours, and everyone elses to be available at all times.
When the new company management bought out the old - if this money wasnt being kept in a separate accouint - and they knew they were going to close their US accounts - they should have had a plan in place AND the money necessary to pay all US players.
It should be quite obvious to all - that the old MB management did not keep the account principles separate - or we would have been paid already - Because that money would not be part of the value of the company being sold because it covers debt.
And it should also be obvious that the new management did not have enough capital to buy MB, and pay all the US players. Or this would be done already.
And of course they will pay you if you are still playing there - you are generating the commissions that they are using to hopefully eventually pay me! They are clearly slow paying, and are using money they make to pay people the money they did not have to coming into this business.
Maybe in the future this new management will do it right. Keep players funds separate. Stop seeding the markets. And use the commissions as their revenue. But for now - their business model is very poor!
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Strange that it takes so long to pay...Comment -
Matchbook doesn't have a cash flow problem, they have a processing problem. Just because they are walking away from the market does not mean there is suddenly an authorized US payment channel. Combine that with the volume of requests and you're going to have delays. You'll get paid.Comment -
I would bet Matchbook does have a cash flow issue
I have no idea how they can make much money anymore
Look at volumeComment -
But Matchbook is not a BOOK! When you bet at 5dimes, BetJamaica, Greek, whatever you are betting against the house. They want you to lose. Or they lay off money to try to collect a Vig.
Mattchbook is an exchange - the players funds will never be theirs unless they are seeding a market and losing. When tradesports was around, they claimed to keep fund in separate accounts - and my payout experience when they closed was great.
Does Betfair keep funds in individual account? You may know this better than me, because I do not play there for obvious reasons.
I just want to give them some time. They said 21 days - and Im not sitting here saying I have to be paid on the 21st day. If this drags out to 45 days, SBR will get a complaint.
But offered vague non-committal info?
Can you post emails?Comment -
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Didn't use them anyway! Looks like it will be there loss!Comment -
I requested the payout on Day 1 of the announcement. And the first time frame that they gave me on Mar 11th is 'The processor has confirmed that the withdrawal will be processed on Monday March 14th and we expect the funds to hit your account within 7 to 10 business days'
Today is May 2rd, I am still waiting for my wire. And there were some interesting developments along the way. I will keep you guys updated about my payout status.Comment -
If they don't pay me by Friday then I'm filing a complaint with sbr.Comment -
I don't get why Todd and hareeba are fighting about every single minute detail regarding Matchbook's volume. Who cares? If you're happy at Matchbook, great. If not, go somewhere else. It's pretty simple. This arguing is silly and pointless.Comment -
I'm not interested in arguing about MB's volume or odds. I and most players know they are better than anywhere else and use them every day. Very simple.
The argument is all about me attempting to defend myself against false accusations of being a liar and misrepresented quotes which Todd and Thremp consistently fail to justify.Comment -
Thought I would check in and post my current withdrawal status.
I sent an email (5/09/11) inquiring as to where we were in the process and I was informed that the withdrawal by CC was no longer viable and at this point they would issue me a check by courier.
I contacted them again this morning by phone and I was told that my check was being issued today and that they would email me a tracking number no later than tomorrow.
Just to recap: I originally requested my withdrawal 2/28/11, that's 60 business days ago this Friday.
I will post again when I receive my tracking number.Comment -
I received an email today with a DHL tracking number.
According to DHL, my check just left Singapore, with no estimated delivery date.
I'll post again when it arrives.Comment -
Just hope it isnt one of those processors that was set up by the Dpt of Homeland Security.. that would be the icing on the cake!Comment -
I finally received my check this past Wednesday.
I hope it doesn't bounce.Comment -
I can log into my account this morning for the 1st time in maybe a few months? They usually won't even let U.S. customers access the site. Have they had a change of mind?
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Pretty odd i just logged in too. They changed the design of the site.Comment
