Matchbook update

[MatchbookMike]

I had (and continue to have) that much in a PENDING wager.

My post was an attempt to allay the concerns of anyone who is waiting for a large balance. Many large balances have been paid; I can personally attest to two.

The pending wagers have already been sent to escrow with Matchbook's Antiguan solicitors (non-US payments are easy to make). Upon completion of NBA and NHL playoffs all payments will be made to the winning players.

- Mike

[blackbart]

nice to see you hear and answering

[jizay]

Hi KGambler,

85% of payments have been made. Despite popular belief Matchbook did not pay out the small amounts first. The payments have been made in batches which has created some what of a random order. Generally the first claimed payments are sent out before the most recently claimed ones, however, this is not always the case.
It is similar to baggage claim at the airport.

There are 24 wires and 101 CC paybacks left to be paid which is less than 15% of the total amount of payments to be made.

- Mike

We have 'come through' for over 2500 players. Making this many payments to the US in today's operating environment is not an easy task.

I'm glad you received your money and hope the few people left to be paid will feel the same as you in the very near future.

- Mike

Thanks for the updates Mike.

If 125 payouts comprise 15% of total payments to be made, that puts the total US customers with a balance on March 1st at about 830 people. Only 830 people in the entire country were actively betting at Matchbook? Am I reading that correctly? I would have thought Matchbook had a much larger customer base than that. No wonder they sold it.

How does the 830 reconcile with "come through for over 2500 players"?

Hi,

Matchbook Did and still does have a much larger active client base then 830 people. 85% of US players paid was an estimate made by one of our staff to Bill Dozer. In reality, many more then that have been paid.

- Mike

I'm having trouble reconciling all of this. You were the one who quoted the 2500+ number when you stated that's how many you've come through for, and you were also the one in this thread that said 15% waiting and 125 waiting. 125 is 5% of 2500. Are you telling us that 95% have been paid? Why not come right out with that? Also, should we infer that 95% of the money has been paid, since it was random whether larger or smaller balances were paid first?

[jackkkk2009]

I remember that when Pinnacle exited the US market four years ago, They paid their US customers much faster than Matchbook.

[Hareeba!]

I remember that when Pinnacle exited the US market four years ago, They paid their US customers much faster than Matchbook.

but wasn't that before all this crap your government is making for processors ?

[Igetp2s]

We have absolutely no affiliate with WSEX whatsoever. The delays are by no means a 'strategy', they are due to complications surrounding April 15th 'black friday'. We appreciate your patience and I can assure you every single player will be paid in full. - Mike

Except that the payouts were supposed to be done by March 31. So to use events after that as an excuse is kind of silly. Perhaps if you had been more flexible with your payout options, you wouldn't be having these kinds of problems.

[KGambler]

Except that the payouts were supposed to be done by March 31. So to use events after that as an excuse is kind of silly. Perhaps if you had been more flexible with your payout options, you wouldn't be having these kinds of problems.

That's what I was thinking... I sent my withdrawal info at 1:00 AM EST on March 4th, and they said it went to the processor on March 31st. I am not sure how Black Friday could have screwed things up.

Anyway, I am glad MatchBook Mike is here now to provide answers. It does make me feel better. Thank you Mike.

[jjgold]

I would love to know how matchbook is going to stay alive

There is hardly any volume there and I only see it getting worse now that they are out of usa

UK market will chew them alive as there is only one that people use, Canadian market is too small to survive their form of betting

[Legions36]

I would love to know how matchbook is going to stay alive

There is hardly any volume there and I only see it getting worse now that they are out of usa

UK market will chew them alive as there is only one that people use, Canadian market is too small to survive their form of betting

They still hating on Match.

[Hareeba!]

I would love to know how matchbook is going to stay alive

There is hardly any volume there and I only see it getting worse now that they are out of usa

UK market will chew them alive as there is only one that people use, Canadian market is too small to survive their form of betting

you have failed to answer why you have never trusted Matchbook

you obviously have a hatred of them which is impairing your judgement

there is still plenty of volume and at good odds (better than Pinnacle and certainly better than Betmaker in most markets)

once they permit accounts in other than USD and start advertising to Europe and Asia they will attract heaps more business

[clarkacal]

I submitted my bank info around March 6 and got the wire around April 27.

[the_situation]

you have failed to answer why you have never trusted Matchbook

you obviously have a hatred of them which is impairing your judgement

there is still plenty of volume and at good odds (better than Pinnacle and certainly better than Betmaker in most markets)

once they permit accounts in other than USD and start advertising to Europe and Asia they will attract heaps more business

[jjgold]

you have failed to answer why you have never trusted Matchbook

you obviously have a hatred of them which is impairing your judgement

there is still plenty of volume and at good odds (better than Pinnacle and certainly better than Betmaker in most markets)

once they permit accounts in other than USD and start advertising to Europe and Asia they will attract heaps more business

Hope your right but all other exchanges were epic fails in europe except betfair

[Hareeba!]

Hope your right but all other exchanges were epic fails in europe except betfair

still haven't answered my question

[redapple]

Hello, Mike, I have a question for you. Does matchbook have control over your processor? Who leads the overall withdrawal process here? I talked with your withdrawal team person a couple of times recently, and she kept saying things like 'we have asked our processor to ....., but they somehow messed it up'?

Btw, today is the 65th day since I requested my wire payout, and I am still waiting to be paid.

[Thremp]

you have failed to answer why you have never trusted Matchbook you obviously have a hatred of them which is impairing your judgement there is still plenty of volume and at good odds (better than Pinnacle and certainly better than Betmaker in most markets) once they permit accounts in other than USD and start advertising to Europe and Asia they will attract heaps more business

There is essentially 0 chance there is going to be >100k volume on any baseball game (at decent prices) offered by end of season. From someone who is betting pocket change, what would you know about "good volume"?


NB: Open up matchy, best prices for MLB MLs are in the mid-low three figures. I suppose it has great liquidity if you consider a few rubles "good volume". In other news. Bet 3.65 does as well!!!

[MatchbookMike]

Hi Redapple,

Sending payments into the US is a difficult process for any operator. It has become even more difficult after the fall-out from Black Friday (april 15th). In order to do so Matchbook uses various payment processors to make payments to US customers.

As mentioned by PM, your payment is an exceptional circumstance where the payment was made to the wrong account. We have asked the processor to recover the payment and resend to your correct account.

We apologize for the delay, and appreciate your patience.

Please allow me to reiterate every single US player will be paid in full.

- Mike

[Thremp]

Mike,

If you had made payouts on time (per your company timeline), they would've been completed over 2 weeks before April 15. Just fyi.

Love,
Thremp

[MatchbookMike]

There is essentially 0 chance there is going to be >100k volume on any baseball game (at decent prices) offered by end of season. From someone who is betting pocket change, what would you know about "good volume"?


NB: Open up matchy, best prices for MLB MLs are in the mid-low three figures. I suppose it has great liquidity if you consider a few rubles "good volume". In other news. Bet 3.65 does as well!!!

Matchbook volume is coming back strong. We are doing an average of 3M/day and that is virtually all on Baseball. Matchbook volume and liquidity has increased every week since we left the US on Feb 28th.

We are going to be launching a series of promotions to increase liquidity on other sports, Tennis, Rugby and Soccer.

For anyone outside of the US Matchbook will soon be the best and cheapest place to play.

- Mike

[Thremp]

Mike,

I'll let you know when you're a worthwhile out with my deposits. Thanks for your shilling though. Perhaps I'm simply not sharp enough to be interested at betting several hundred dollars at a known slow pay shop.

[MatchbookMike]

Mike, I'll let you know when you're a worthwhile out with my deposits. Thanks for your shilling though. Perhaps I'm simply not sharp enough to be interested at betting several hundred dollars at a known slow pay shop.

Hi Thremp,

I am not looking for an argument. I am here to clarify and questions or concerns Matchbook users may have.

European and Rest of World payments are, and always have been, processed within hours if not minutes. The US players payout has taken longer then expected for obvious reasons.

Calling Matchbook a known slowpay shop is a gross mischaracterisation and I think anyone outside of the US would agree.

We would love to have you back as a player if you are a resident of any other country other then US.

Kind Regards,

- Mike

[jjgold]

Mike who is betting big dollars in baseball from Canada and Europe? It is not a big sport in those areas. I would think money is being pumped in from Matchbook themselves.

[Chopsticks]

Lots and lots of bonus whores and scalpers probably.

[MatchbookMike]

Mike who is betting big dollars in baseball from Canada and Europe? It is not a big sport in those areas. I would think money is being pumped in from Matchbook themselves.

We have been getting a lot of liquidity from Canada, Costa Rica and Europe. Once we launch our new multi-lingual platform we expect to have further growth in certain Asian countries for baseball. Matchbook itself does not take positions on the exchange. We do, however, provide rebates and favourable commission rates to third parties who provide the exchange with two way markets at narrow spreads.

- Mike

[jjgold]

Ok fair answer

I will keep an eye on it

Mike I am a watchdog and know this business inside and out.

Best of luck

[Thremp]

Mike,

What are the obvious reasons that allow you to process some, but not others? Considering that MB management knew about the pullout for weeks before they actually did (ergo why no payouts were processed in that time period) and should have an exact dollar figure? Incompetence? Thievery? What exactly happened? Not enough money to pay everyone?

You cite post hoc events that shouldn't even factor into why MB is slowpaying US players (I'm sure WSEX is glad to note they can now cite Black Friday for their "processor" issues). I'm curious what you would call not paying players their balances in a time period 2x what the company has proposed... "Fastpaying" "deluded" etc?

[hhsilver]

I haven't seen much discussion of the $35 fee for a withdrawal ( and method) we were forced to make. Under the circumstances I think Matchbook should have taken the high road and absorbed the cost of sending money many of us had no intention of asking for any time soon. I know it's not a big amount , but it leaves a bad taste on top of our pain in losing MB.

Even the currently getting bashed Betphoenix , on two occasions recently, sent me money , at no fee, by a method that would normally have a fee when they said they were having a problem with the free check method I requested.

[Chuck Sims]

MatchbookMike, Do you think live betting in the NFL and MLB will have good liquidity even after leaving the U.S. market? I am comptemplating leaving the USA.

[MatchbookMike]

Mike,

What are the obvious reasons that allow you to process some, but not others? Considering that MB management knew about the pullout for weeks before they actually did (ergo why no payouts were processed in that time period) and should have an exact dollar figure? Incompetence? Thievery? What exactly happened? Not enough money to pay everyone?

You cite post hoc events that shouldn't even factor into why MB is slowpaying US players (I'm sure WSEX is glad to note they can now cite Black Friday for their "processor" issues). I'm curious what you would call not paying players their balances in a time period 2x what the company has proposed... "Fastpaying" "deluded" etc?

Thremp,

I cannot comment on anything under the old managements regime. I can tell you, however, that there is more then enough funds to cover all players balances and Matchbook is backed by a very substantial financial investment. This will become apparent with the changes coming in the near future.

Sending thousands of payments into the US is not easy and has been more challenging then we anticipated. 90%+ of US players have been paid and the remaining few will be paid in the very near future.

- Mike

[MatchbookMike]

I haven't seen much discussion of the $35 fee for a withdrawal ( and method) we were forced to make. Under the circumstances I think Matchbook should have taken the high road and absorbed the cost of sending money many of us had no intention of asking for any time soon. I know it's not a big amount , but it leaves a bad taste on top of our pain in losing MB.

Even the currently getting bashed Betphoenix , on two occasions recently, sent me money , at no fee, by a method that would normally have a fee when they said they were having a problem with the free check method I requested.

The fee charged to Matchbook by payment processors averages to 70 USD per payment. Matchbook effectively split the cost with effected players.

- Mike

[MatchbookMike]

MatchbookMike, Do you think live betting in the NFL and MLB will have good liquidity even after leaving the U.S. market? I am comptemplating leaving the USA.

We are planning a promotion to encourage in-running betting across all of our markets. This is a big area for potential growth for us and hopefully a lot of fun for our players.

- Mike

[Santo]

Are you committed to sticking with the per-transaction commission model? (vs per market)

[MatchbookMike]

Are you committed to sticking with the per-transaction commission model? (vs per market)

Yes we are committed to both the per transaction commission model as well as having the lowest commission rates in the industry.

- Mike

[redapple]

Hi Redapple, Sending payments into the US is a difficult process for any operator. It has become even more difficult after the fall-out from Black Friday (april 15th). In order to do so Matchbook uses various payment processors to make payments to US customers. As mentioned by PM, your payment is an exceptional circumstance where the payment was made to the wrong account. We have asked the processor to recover the payment and resend to your correct account. We apologize for the delay, and appreciate your patience. Please allow me to reiterate every single US player will be paid in full. - Mike

Thanks for your response. I have talked to my bank and they told me they issued a 'wrong account number' notice to the sender right away, and asked the sender to provide a amendment with the correct number so the fund can be transferred to my account directly. But the sender requested the fund to be returned instead. Why is that? Choose a more complicated and time-consuming way to deal with the wrong account number mistake that is due to matchbook' side? So now when can you resend the fund to me? Per the words I got from your withdrawal team person, you guys have requested the processor to send the fund again immediately, but your processor is not willing to do that, they will wait until they receive the fund back to their account to issue the new one. My bank told me the fund was returned on April 28th and it was supposed to reach the sender's account within two business days per their general knowledge. Why you guys kept saying the fund has not been received back yet and have no idea where the fund goes? In the mean time, I have to buy into this 'fund not received back yet, will resend only when the fund has been received' story? How long it's going to take?

[todd73nj]

I would love to know how matchbook is going to stay alive

There is hardly any volume there and I only see it getting worse now that they are out of usa

UK market will chew them alive as there is only one that people use, Canadian market is too small to survive their form of betting

Volume is a joke.

And if you look at the volume that is posted, you can tell its all seeded markets. Just some inversion of numbers to make the available dollar amounts look different.