Matchbook Commission Question

[dbludge5]

I have noted Matchbook charges commissions "per bet" and not "per market" as do betfair,betdaq and wbx.

My question is this;If i were to back something at matchbook for $100,000 at 1.02 and then I laid it back at the same price my net
overall position is zero..but have I lost $2000 in commission?

If I did this on the other exchanges I would owe nothing.

[Hareeba!]

That appears to be a statement of fact rather than a question, but I believe you're right.

[dikefale]

how fast the pay money to neteller and skrill?

[Hareeba!]

how fast the pay money to neteller and skrill?

Seems to depend on what time of day you make a request but I think at very most about 15 hours.

[dbludge5]

If that is the case then anyone who has more than 1 bet in a market on Matchbook would be insane.Forget about trading on anything there.

[noyb]

If that is the case then anyone who has more than 1 bet in a market on Matchbook would be insane.Forget about trading on anything there.

exactly, you shouldnt.

[jjgold]

I thought it is basically 2 cents juice per bet???

That is still better than laying -110 on a nba game at another book

[Digo]

Matchbook is not the best choice for trading.

[MatchbookMike]

Hi guys,

Just to clarify a few things here:

In dbludge5's example above
- if the 1.02 selection wins, you would pay $40 in commission
- if the 1.02 selection loses, you would pay $1,020 in commission

So, on expected returns, you would pay $40, 98% of time and $1,020 less than 2% of the time.

Depending on your trading profile, there may be better alternatives available but for the vast majority of customers and trades, then 1% per bet works out as the best rate available in the market.

If anyone has any further questions on the commission rate, feel free to put them in here.

Thanks,

Mike

[dbludge5]

Thats still really bad for trading here is another example>lets say there is a 2 horse race with both at even money.I end up backing horse A for 100k and horse B
also for 100k..if A wins I lose $1000 50% of the time and if B wins I also lose $1000 the other 50%.Elsewhere I lose nothing.

It makes it impossible to trade.

You guys need to come up with a tax based on overall profits per event rather than a tax on turnover.Perhaps you could give people a choice of either before they
place bets on an event.That way you can get traders as well as others there.

[Hareeba!]

Hi guys,
Depending on your trading profile, there may be better alternatives available but for the vast majority of customers and trades, then 1% per bet works out as the best rate available in the market.

Mike, it may well be true that Matchbook's headline commission rate of 1% is the best available but I fear people are being somewhat misled by that figure.

If you are comparing it to Betfair for example who charge commission only on winning bets, Matchbook's rate works about at about 2%.

Yes, Betfair's headline rate is 5% but most serious players there are probably paying only around 3% after their commission discount.

[dink]

Commissions on losses? You can't be serious.

[byronbb]

Commissions on losses? You can't be serious.

Sharps get paid, arbers get hammered.

[bettingstation]

i agree

[jjgold]

Its still a must book for usa sports bettors, tennis bettors and soccer bettors