1. #1
    rodneytrotter
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    Matchbook introduce increased commission and premium charges

    Customers who meet or exceed the Thresholds (as defined below) may be charged one or a combination of the MB Rates which only apply to the Exchange and they are as follows:
    1. Commission rate up to 3.5% per bet (“Transactional Rate”); or
    2. Commission rate up to 5% of Gross Profit per market (“Market Commission Rate”); and/or
    3. Revenue share commission rate up to 60% of Net Profits per calendar month (“Revenue Share”).
    (which shall severally and jointly be referred to as the “MB Rates”)
    The thresholds are as follows:
    1. $1,000,000 (one million US Dollars) of Betting Volume; and/or
    2. $20,000 (twenty thousand US Dollars) of Betting Profits
    (which shall severally and jointly be referred to as the “Thresholds”).
    Matchbook shall review the Thresholds for non-USD denominated customer Account(s) on a quarterly basis applying the exchange rates supplied by XE.com Inc. and accessed via https://www.xe.com/?r= and provide any required information regarding the exchange rates applied during the Consultation Period (as defined below).
    For the purposes of this paragraph the following definitions shall apply:
    a) Account(s): means all accounts created by a customer on the Matchbook Website;
    b) Betting Volume: means the cumulative Lifetime total of matched bets. For back bets this will apply to the backer’s stake and for lay bets this will apply to the bet liability and/or backers’ stake.
    c) Betting Profits: means the amount won less any amounts lost during a customer’s Lifetime on the Matchbook Exchange;
    d) Business Days: means a day other than Saturday and Sunday and excluding bank holidays in the United Kingdom and Republic of Ireland;
    e) Consultation Period: means the period of 5 days from date of notification provided by Matchbook (whether by email, telephone or otherwise) that the Customer has met and/or exceeded the Thresholds;
    f) Grace Period: means the period of 2 Business Days (after the expiry of the Consultation Period) from the date Matchbook notifies the customer (whether by email, telephone or otherwise) as to which MB Rate the customer shall be charged;
    g) Gross Profits: means the total amount won less the total amount lost;
    h) Lifetime: means all matched volume on all customer Account(s) and linked and/or associated and/or related to one person, entity whether currently active (and whether utilised or not) including previously closed, terminated and/or suspended Account(s);
    i) Net Profits: means total amount won on the Exchange less amount lost, and less commission paid.
    Matchbook: (a) shall on an ongoing basis review and calculate a customer’s Betting Volume and Betting Profits; (b) may at any time notify any customer who meets and/or exceeds any of the Thresholds and enter into a Consultation Period with the customer in order to discuss the MB Rates; and (c) upon expiry of the Consultation Period and in its discretion determine which MB Rates shall be applied and notify the customer accordingly.
    Matchbook reserves the right to charge a customer with the MB Rates upon expiry of the Grace Period.
    If a customer for whatever reason does not respond and/or does not enter into discussions with a Matchbook representative for the Consultation Period, Matchbook shall upon expiry of the Grace Period proceed and charge the Customer with the MB Rates (which shall be determined by Matchbook at its sole discretion).





    Ouch.
    Points Awarded:

    Mediterranean gave rodneytrotter 1 Betpoint(s) for this post.


  2. #2
    Alfa1234
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    Quote Originally Posted by rodneytrotter View Post
    2. Commission rate up to 5% of Gross Profit per market (“Market Commission Rate”); and/or
    Is it "and" or "or"? That is a huge difference for the threshold to kick in? Haven't heard anything about it.

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  3. #3
    Igor_1965
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    pigs
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  4. #4
    jjgold
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    the death of matchbook now

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  5. #5
    HeeeHAWWWW
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    I wonder if, like Betfair, they'll start to disappear from agent accounts now.

  6. #6
    rodneytrotter
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    It is very hard to find those terms as they are not displayed under commission but about 3/4 down 'Terms and Conditions' under Fees and Charges and customers are not alerted to the changes on logging in.

  7. #7
    qsgsg
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    the greed from these exchanges. they forget that the liquidity and hence atttractive prices come from the whales. The whales will just move on to the next low fare exchange. I will say this in advance: serve them right.

  8. #8
    bookie
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    Very disappointing. I wonder what the projected impact on their bottom line will be. I'd like an over-under on that as a measure of whether this works out for them or not. I guess they've decided if Bet Fair can get away with it than they can too.

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  9. #9
    dealer wins
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    If MB wrote that in hieroglyphics it would be easier to understand.

  10. #10
    Alfie White
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    At least agents will remain without PC, that is for sure (on their betting platforms).

    Very bad decision, Betfair has upper hand with the PC as they are the biggest, MB doesn't have that big of a liquidity to make this kind of a move... Not happy with this decision.

  11. #11
    dealer wins
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    I honestly think these charges (both MB and BF) would be deemed illegal in a court of law. Anyway if they try to charge me I will immediately close my account!

  12. #12
    Optional
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    Strange way to present it. "We'll talk to you about it for 5 days" first.

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  13. #13
    Craig22
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    Not even worth anyone's time to play if they deem they can just take your money if you win.

  14. #14
    Alfa1234
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    Quote Originally Posted by Alfie White View Post
    At least agents will remain without PC, that is for sure (on their betting platforms).

    Very bad decision, Betfair has upper hand with the PC as they are the biggest, MB doesn't have that big of a liquidity to make this kind of a move... Not happy with this decision.
    How do you know agent accounts will not be affected?

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  15. #15
    Alfie White
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    Have been playing via Betfair some quite some time now (via agent's platform) and never got any word regarding PC; even agent said that betting via their Molly platform is not subject to PC, back when I have shown interest into that. Reckon the same thing will happen with MB, no reason to think it would be any different.

    Did MB contact anyone regarding PC yet? Would be nice to share the information.

  16. #16
    Alfa1234
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    I received confirmation from agent Premiumtradings that accounts offered by them are not subject to the premium charges.

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  17. #17
    Craig22
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    Quote Originally Posted by Alfa1234 View Post
    How do you know agent accounts will not be affected?
    Asian Connect support said no difference in commission structure. However, a high volume player on here is having his account under investigation by Matchbook.

  18. #18
    Igor_1965
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    Quote Originally Posted by dealer wins View Post
    I honestly think these charges (both MB and BF) would be deemed illegal in a court of law. Anyway if they try to charge me I will immediately close my account!
    This would only matter if 5, 10, 50 people like you make the same decision. Otherwise it's like you saying "I'll stop picking off weak numbers at bookmaker XYZ". Your competition will happily fill the void.
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