MATCHBOOK says goodbye to 2% commission...

**sofos** · 03-17-09, 12:38 PM

Ganchrow wrote
For example if a player risks $1,000 on Matchbook (accepting) at -1000 does that mean he's actually risking $1,011.11 to win $100? Or does it mean that he's risking $1,000 to win $98.90?

Well guess what? We're talking 6 of one and half a dozen of the other. Both bets are at odds of -1011.11. Same prices, just different accounting procedures.

I understand that the odds one receives for making the bet are the same whether the calculation of these odds is carried out either way. I believe the question is
If one risks $1000 at -1000 (in other words accepts an offer at -1000) starting with a balance X what is the resulting balance (assuming no other bets or offers) if one loses and what is the resulting balance if one wins.
By just reading your example one does not know whether "accepting a -1000 offer for $1000" will result in a $1000 or a $1011.11 reduction in one's balance in case of the bet losing.

**Santo** · 03-17-09, 12:40 PM

Fairly sure it's running on NBA but not NHL today.

**Ganchrow** · 03-17-09, 12:42 PM

Originally posted by sofos

I believe the question is
If one risks $1000 at -1000 (in other words accepts an offer at -1000) starting with a balance X what is the resulting balance (assuming no other bets or offers) if one loses and what is the resulting balance if one wins.
By just reading your example one does not know whether "accepting a -1000 offer for $1000" will result in a $1000 or a $1011.11 reduction in one's balance in case of the bet losing.

That's just a simple matter of terminology left for Matchbook to further clarify.

The point of the calculator and VBA functions are simply to provide a mechanism for determining pricing equivalence. While "whether 'accepting a -1000 offer for $1000" will result in a $1000 or a $1011.11 reduction in one's balance in case of the bet losing'" is certainly relevant to the accounting, it's irrelevant to the underlying market economics.

**The HG** · 03-17-09, 12:57 PM

I can't do it! I can't do it! I can't! help! HELP!! PLEASE SOMEONE HELP! I CAN'T DO IT!

**Doug** · 03-17-09, 01:34 PM

I think they need to allow more offer options:

If a line is at -204/+202....why not allow an offer at 203 ?

I want to get the +204, not take the +202 that I can by accepting.

**Santo** · 03-17-09, 02:00 PM

You have to draw the line somewhere, why not 202.5 or 202.55 etc.. every 2 points after 200 is what they've had for a long time.

**aggie** · 03-17-09, 02:02 PM

nobody's talking about fractions, i would too like to see +203, +209 etc

**Doug** · 03-17-09, 02:16 PM

Originally posted by Santo

You have to draw the line somewhere, why not 202.5 or 202.55 etc.. every 2 points after 200 is what they've had for a long time.

I'm not saying to allow fractions.

202/204 with the new structure, could allow a 203, maybe to 500, then 2 cents from 500 to 1,000, and 5 cents to 2,000, and so on.

Something like that.

The offer seems to stall at 202/204 ? Neither side wants to pay the commission ?

**Doug** · 03-17-09, 02:21 PM

I caved in, and took NJ -1.5 +202 ! +190 is the best I can get elsewhere. These lines tend to drop.

Chicago +1.5
-$200

-204 $2,040

-206 $652

-210 $1,103
23
New Jersey -1.5
$404

+202 $498

+197 $60

+184 $157

**Doug** · 03-17-09, 02:25 PM

It will be interesting to see if this new thing works, or not !

I can see a more ordinary player taking made offers readily, as long as the line ( w/commission) beats Pinny,5D,etc.

Many just want to get the bet in, not babysit offers.

**Santo** · 03-17-09, 02:26 PM

As I said, I don't think the new system is working on NHL today anyway; the markets were up before midnight.

**Doug** · 03-17-09, 02:37 PM

Santo: That is a fairly minor point, I'm sure most think it is under new rules for today.

These +money pucklines nearly always drop, you gotta take them early.

**bleedblue** · 03-17-09, 04:17 PM

So i see lot's of 1 cent lines...

How is it going as far as getting offers matched?

**Kaps** · 03-17-09, 04:57 PM

Originally posted by Santo

As I said, I don't think the new system is working on NHL today anyway; the markets were up before midnight.

everything is on the new commission system today including hockey

**playz** · 03-17-09, 05:12 PM

the new system is working across the board on all sports.. I look at this almost everyday and I notice the difference. This is the first day and some people may not even know but odds are closer together.

**Mark Shark** · 03-17-09, 05:15 PM

So far, whenever there has been a line change, evryone has retracted their bets until it settles, then reposts it at the new level.

**Odessa** · 03-17-09, 05:17 PM

Originally posted by Doug

It will be interesting to see if this new thing works, or not !

I can see a more ordinary player taking made offers readily, as long as the line ( w/commission) beats Pinny,5D,etc.

Many just want to get the bet in, not babysit offers.

Finally someone with brains over here. Exactly my point. Can you find better commission anywhere else?
Doug, what you playing tonight?

**Igetp2s** · 03-17-09, 05:42 PM

Today they charged 1% on Baseball on both wins and losses. How exactly is that reduced? Yesterday it was 1% only on wins. Baseball is worse than before.

**Kaps** · 03-17-09, 05:49 PM

Originally posted by Igetp2s

Today they charged 1% on Baseball on both wins and losses. How exactly is that reduced? Yesterday it was 1% only on wins. Baseball is worse than before.

thats fukkin bullshit...they are just lining up there own pockets
this is not a savings for us at all

it will be interesting to see if they reduce for baseball when the season starts ....cause if they dont this move was made to better their own bottom line not ours

**Doug** · 03-17-09, 05:52 PM

Originally posted by Odessa

Finally someone with brains over here. Exactly my point. Can you find better commission anywhere else?
Doug, what you playing tonight?

Here's what I have at MB, so far....since you ask:

Matched Bets
Detailed Summary Avg Odds
Event Name Market Type Selection Odds Stake ($) Market P&L ($)
Hockey
Chicago at New Jersey Puck Line 1.5 New Jersey -1.5 +202 200.00 403.99
Dallas at Vancouver Puck Line 1.5 Vancouver -1.5 +179 200.00 358.00
Pro Basketball
Sacramento at Atlanta Total 202.0 Under 202.0 (SAC/ATL) +101 400.00 404.00

**Mark Shark** · 03-17-09, 05:55 PM

Welcome to the new improved Matchbook.

**Doug** · 03-17-09, 05:56 PM

I can see it taking a day or two, for people to adjust !

**Kaps** · 03-17-09, 06:11 PM

Originally posted by Mark Shark

Welcome to the new improved Matchbook.

i agree ....cant wait to see what they do with baseball

that will be the big turning point for me

**Frank** · 03-17-09, 06:30 PM

Where exactly in the report section does it say if it was a taken offer or accepted offer?

If I accept an offer for all that is available and the rest of my bet is unmatched and left up but later taken, part is an offer and part is an acceptance.

Under the report section, it doesn't tell me or I can't find where it says how much of it was part of accepted offer and how much taken offer.

**Doug** · 03-17-09, 06:32 PM

Originally posted by Odessa

Finally someone with brains over here. Exactly my point. Can you find better commission anywhere else?
Doug, what you playing tonight?

Thanks ! If you beat ( or Match) a 5D reduced line, by accepting, you should be fine, just accepting offers, IMO. Only the most hardest core guys ( me), will hold out, to get the offer accepted.

I like this new way,at first glance.

**Mark Shark** · 03-17-09, 06:36 PM

Originally posted by Frank

Where exactly in the report section does it say if it was a taken offer or accepted offer?

If I accept an offer for all that is available and the rest of my bet is unmatched and left up but later taken, part is an offer and part is an acceptance.

Under the report section, it doesn't tell me or I can't find where it says how much of it was part of accepted offer and how much taken offer.

Well said Frank. They just seem happy to take our money but not keep us properly informed in how they are doing it.

**u21c3f6** · 03-17-09, 07:23 PM

Originally posted by Frank

Where exactly in the report section does it say if it was a taken offer or accepted offer?

If I accept an offer for all that is available and the rest of my bet is unmatched and left up but later taken, part is an offer and part is an acceptance.

Under the report section, it doesn't tell me or I can't find where it says how much of it was part of accepted offer and how much taken offer.

It's in the Settled report. Click on the game and then click on the commission and it will show you the breakdown of offered and accepted.

Joe.

**bookie** · 03-17-09, 07:33 PM

Originally posted by u21c3f6

It's in the Settled report. Click on the game and then click on the commission and it will show you the breakdown of offered and accepted.

Joe.

Thanks Joe, good to know. It looks like Matchbook is doing everything they can do on their end to be transparent. Sports betting's new era began today.

**Mark Shark** · 03-17-09, 07:53 PM

That is no good to know after the bet has been settled. We should know as soon as we make the bet.

**Kaps** · 03-17-09, 07:58 PM

Originally posted by Mark Shark

That is no good to know after the bet has been settled. We should know as soon as we make the bet.

i couldnt agree more with this statement ,....you should kow what was offered and what was accepted before the event begins

they definitely need to fix this

**Frank** · 03-17-09, 08:26 PM

No kidding it needs fixed.

I know where to find it when its complete and settled.

If I play a friday game today, I have to wait 3 days until a wager is settled to know which commision price i am getting?

They need to set this up to read:

YOUR MATCHED OFFERS

and

YOUR WAGERS

Or something like that.

When using multiple commissions, customers need to know exactly what commissions are applied to which wagers or parts of wagers BEFORE the final result.

**Mark Shark** · 03-17-09, 08:32 PM

Been waiting nearly 10 mins and Orl Vs Cle NBA game still not settled.

**u21c3f6** · 03-17-09, 08:34 PM

Originally posted by Frank

No kidding it needs fixed.

I know where to find it when its complete and settled.

If I play a friday game today, I have to wait 3 days until a wager is settled to know which commision price i am getting?

They need to set this up to read:

YOUR MATCHED OFFERS

and

YOUR WAGERS

Or something like that.

When using multiple commissions, customers need to know exactly what commissions are applied to which wagers or parts of wagers BEFORE the final result.

I agree that it would be nice to see that but with the exception of matches made simultaneously where you may not know if you are the offerer or the accepter, most of your wagers you should know which one you are.

Joe.

**Mark Shark** · 03-17-09, 08:40 PM

Has just been graded now.

**BouncedCheck** · 03-17-09, 08:43 PM

Originally posted by Ganchrow

Hence you'd be risking $301 to win $99, corresponding to US payout odds of ~-304.04.

Make sense?

Yes it makes sense now. Thank you for taking the time to explain it in detail. My problem was that I didn't account for the amount that would be deducted from the available balance after the bet is placed. Joe was correct that I was taking the commission out twice - once for a potential loss that might not happen, and then again for the win.

Originally posted by u21c3f6

You may be risking $301 but you don't pay $301 if you win. If you win you receive $100 - $1 for commission for a net win of $99.

Maybe Ganchrow's post (the one above yours) may clear it up for you.

Joe.

Yes I get it now. Thanks Joe.