Matchbook downgraded to B-

[MRK]

Does anybody know why Matchbook has been downgraded to B-.

It seems to be business at usual there, and liquidity for NFL playoffs has been strong.

I have a mid 5-figure balance there, and I'm sure there are many other posters here who do as well. If somebody could shed some light on this it would be greatly appreciated, is there any risk to players funds?

Also, as the predominant exchange for north american spots I assume that there would been many A-level sportsbooks willing to acquire them if the opportunity presented itself. Is this assumption incorrect?

[durito]

Surely someone from SBR would like to comment here or no?

[20Four7]

bill dozer commented on the downgrade I thought or was it just WSEX.... i'll see if I can find it.

[20Four7]

WSEX does stand by Matchbook. That comes from WSEX themselves. It's a parent sportsbook relationship. The problem is the parent sportsbook hasn't been at the A level for a while and processing continues to be an issue as football winds down. That's withdrawal season. Matchbook is trying some new more aggressive things with their business plan leaving SBR to consider bringing the two ratings more in line as we see how things work out. It's going to be a big couple of months for WSEX and we hope to do some rating upgrades for both after they service players at a high level at the close of season.

Here is mr. Dozer's quote.

[durito]

I like this

BetUS C
SIA C+
Matchbook B-

[MRK]

What does "Matchbook is trying some new more aggressive things with their business plan" mean?

Does this refer to changing the commission structure from 2% of net win, to 1/-0.2% of wagers?
Do they seed their own markets or are they beginning to, if so how much risk are they taking?

Are there other changes we should know about.

[Bill Dozer]

They make their own markets and take other business risks to create liquidity and make selling appealing and easier. They operate more like a sportsbook than an exchange like Betfair. That's not a negative in itself but seeing WSEX fail to come through on payments as football ends means we don't think this is an A rated situation for players to be in before cashout season. If they don't miss a beat they will start to look underrated.

[Fishhead]

What does "Matchbook is trying some new more aggressive things with their business plan" mean?

Does this refer to changing the commission structure from 2% of net win, to 1/-0.2% of wagers?
Do they seed their own markets or are they beginning to, if so how much risk are they taking?

Are there other changes we should know about.

Good question.........

If Matchbook improves from their CURRENT OUTSTANDING PRODUCT, I'm going to have mulitple orgasms!!

[tltaylor89]

cash on hand became a factor on the credit side

[Fishhead]

cash on hand became a factor on the credit side

[Jaug]

I just can't see how a exchange like matchbook would stiff you. They should have an easy time getting investors in if needed, and should be a target for acquisition for alot of books.v

[Fishhead]

I just can't see how a exchange like matchbook would stiff you. They should have an easy time getting investors in if needed, and should be a target for acquisition for alot of books.v

[MRK]

They make their own markets and take other business risks to create liquidity and make selling appealing and easier. They operate more like a sportsbook than an exchange like Betfair.

I am interested in learning more about this.

What markets specifically do they seed, and at what spreads. Matchbook has little to no liquidity on most events, except for game day.
This leads me to believe that no matchbook is not taking on any risk by posting early lines like CRIS.

Also, sports like NBA, NHL, NCAABK, have pretty small liquidity and large spreads, so even if Matchbook is seeding these markets they are not assuming any risk from this.

Most liquidity is on NFL, at 1 cent spreads. If a market for the an NFL game is -101/+100, with 20k offering on each side, how much of this if any would you say is Matchbook seeding. Or if they are seeding, are they seeding at -102/-102, and all the money being offered inside of that spread is by clients?

[Thremp]

Seeding markets presents and epic level of increased risk v not. Considering that the only real risk is fraud when you're not seeding.

[Fishhead]

My "guess" is they seed certain games with LESS THEN $500 on both sides.............they are fine.

[durito]

My "guess" is they seed certain games with LESS THEN $500 on both sides.............they are fine.

Just stop.

[Keith Richard]

So now WSEX being the parent book of Matchbook as everyone originally believed is being confirmed?

[Fishhead]

Just stop.

I play at Matchbook 15 hours a day.......I know what goes on.

[durito]

I play at Matchbook 15 hours a day.......I know what goes on.

You don't have the faintest idea.

[soxwin1917]

You don't have the faintest idea.

Fishhead is exposing his true amount of knowledge...and it's not very high on this subject.

[Justin7]

You don't have the faintest idea.

Fishhead,

I have to agree with durito on this one. I cannot comment on my sources, but my "personal" Matchbook rating is about c-, and possibly heading down. I would not post up here at this time.

I have had two different sources (both of which are very reliable) warn me that MB had debt it cannot sustain. I have seen problems on the credit side that confirm this.

They have a great product that can be very profitable if managed properly. However, they hit some nasty speed bumps on the way, and I want to see how they recover.

I will not answer any other questions on MB. The information I received was not in the capacity of an SBR mod, and a condition of receiving this info is that I not disclose more.

[soxwin1917]

Fishhead, I have to agree with durito on this one. I cannot comment on my sources, but my "personal" Matchbook rating is about c-, and possibly heading down. I would not post up here at this time. I have had two different sources (both of which are very reliable) warn me that MB had debt it cannot sustain. I have seen problems on the credit side that confirm this. They have a great product that can be very profitable if managed properly. However, they hit some nasty speed bumps on the way, and I want to see how they recover. I will not answer any other questions on MB. The information I received was not in the capacity of an SBR mod, and a condition of receiving this info is that I not disclose more.

Is the 7 at the end of your name short for "007"?

[xKMACKx]

I got a $600 payout about a week ago in a few hours through instadebit. Just withdrawaled $1500.00 and got it in around an hour or so. No issues never with me. I dont know how anyone can complain with that.

[blix177]

Did a $800 withdrawl took 20 min...

I just want to know, if debt is there problem. Can't they go something like go IPO or do a debt for equity exchange?

[TigerPawsSC]

[Chuck Sims]

What Justin7 says is what I heard 8 months ago. SBR stood firm with their A- rating then. Now MB stops paying SBR, and their rating goes down. It was posted many months ago that MB had new ownership and after settling with credit players, all monies going forward would be guaranteed. I also read at another forum from a credit player at MB. Says MB is short on cash and will take 4-6 weeks to pay. Totally false as I was paid in 3 days after I put in a withdraw request. Other posters report being paid within an hour.

MB continues to pay lightning fast. MB continues to make transfers with the top tier sportsbooks.

Note: MB has denied deposits from several posters here at SBR. Not something a sportsbook would do if they needed money. The reason they give is they feel people are using them as a pass through book.

[MRK]

Chuck,

You make a good point about refusing to accept deposits, this does reassure me a little bit.

I still don't understand why books let players bet on credit. Could some explain this to me. If you are such a heavy gambler, you should be more than willing to post up 100-250k, I have done so, and i'm sure there are other people who have too. Why would Matchbook take the risk of allowing players to bet on credit?

[20Four7]

I"m still waiting for the major betphoenix downgrade....... we'll see when that happens.

[Chuck Sims]

MRK, My guess is these are well established credit players. Also, a sportsbook saves a ton on fees if they have credit players. Market makers at MB play on credit so they can seed the market.

A post-up only shop pays a ton in fees. A square is constantly depositing and withdrawing throughout the year. The book pays all the fees, including withdraw fees in some cases.

[Art Vandeleigh]

These SBR ratings sure feel differently depending on which direction the rating is headed. This change to B- may as well have been to a D the way I am perceiving it.

[Fishhead]

What Justin7 says is what I heard 8 months ago. SBR stood firm with their A- rating then. Now MB stops paying SBR, and their rating goes down. It was posted many months ago that MB had new ownership and after settling with credit players, all monies going forward would be guaranteed. I also read at another forum from a credit player at MB. Says MB is short on cash and will take 4-6 weeks to pay. Totally false as I was paid in 3 days after I put in a withdraw request. Other posters report being paid within an hour.

MB continues to pay lightning fast. MB continues to make transfers with the top tier sportsbooks.

Note: MB has denied deposits from several posters here at SBR. Not something a sportsbook would do if they needed money. The reason they give is they feel people are using them as a pass through book.

I've had 5 significant payouts this month alone..................never a problem.

If I ever encounter a problem, I will certainly notify this board immediately.

Having been playing offshore for 10+ years now, nobodys opinion is sacred, NOBODYS. Everyone of us has to make our own decisions on where to play and how much risk vs. reward we want to encounter.

One thing all of us have come to learn over the years, and that is NO OFFSHORE SPORTSBOOK IS COMPLETELY SAFE............THEY ALL INVOLVE RISK.

[thespeculator]

I've had 5 significant payouts this month alone..................never a problem.

If I ever encounter a problem, I will certainly notify this board immediately.

Having been playing offshore for 10+ years now, nobodys opinion is sacred, NOBODYS. Everyone of us has to make our own decisions on where to play and how much risk vs. reward we want to encounter.

One thing all of us have come to learn over the years, and that is NO OFFSHORE SPORTSBOOK IS COMPLETELY SAFE............THEY ALL INVOLVE RISK.

couldn't agree more , i remember wwts , they would send 5k western union same day, bowmans was a solid company, there is always going to be risk with sending your money to a place you have no recourse, but we are in the risk game to begin with

[Fishhead]

couldn't agree more , i remember wwts , they would send 5k western union same day, bowmans was a solid company, there is always going to be risk with sending your money to a place you have no recourse, but we are in the risk game to begin with

WWTS

WSEX

ACES GOLD


Three giants in their hay day..............

[Climate]

I just can't see how a exchange like matchbook would stiff you. They should have an easy time getting investors in if needed, and should be a target for acquisition for alot of books.

Stick around. If I had a dime for every time I said "What were the odds of that?"
while tearing up a ticket...I think they'll be fine, and I hope so also, as I've got some of my cash in there.

[HedgeHog]

The downgrade to B- is significant because that's the lowest rating I'll play at these days (used to play at lesser Books but was getting burned too often). And if Justin7 says they are more likely a C- Book that confirms that the downgrades are indeed behind the curve. Sure MB is paying on time now, but what happens after Football is over and many decide to withdraw? If their liquidity doesn't pick up with the Hoops, we may be seeing the beginning of the end for MB.