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Matchbook sold to betting syndicate???
Anybody hear anything about this?
"HEAR IT NOW AND BELIEVE IT LATER.....Matchbook, the popular betting exchange based in Antigua, has been sold to a group of investors led by an English betting syndicate specializing in soccer wagering. More details in future blog entries."
http://forums.eog.com/f8/my-monday-blog-301398/
Please, don't spread BS here.
JK does love his unfounded gossip.
Who is this John Kelly? Is he a reliable source? This would be great news. That place needs an infusion of enthusiasm and professionalism.
Did they sell them to this group which was reported?Originally Posted by Fishhead
Very interesting news.
A betting syndicate buys MB?
If true, what a story.
If SomeBody Reported it.
not unfounded at all. very true, and this is always the natural progression of a syndicate. it gets too hard to get money off at the amounts needed, now they will just seed and write the action inbound.
natural progression to get on the other side of the counter to get off the amounts needed into market.
What is really interesting is that it was sold at all, not to whom so much.
Anyone stupid enough to buy 375 dollar shoes deserves to have them stolen.
Natural progression...to what, to become a sportsbook?
It is an interesting buy if the goal is just to seed the market yourself and make money.
I find it interesting because if you owned Matchbook why sell? If things were going good would not the upside far outweigh the value in selling now? I can see taking on investors but an outright sale seems odd.
At any rate, the increased competition in the near future with US facing exchanges will be good for everyone.
i heard Matchbook got sold to a bunch of monkeys (not wsex), any truths to this rumour?
I have heard from 2 good sources that the rumors are generally true although it wasn't sold to monkeys. I've also been told that MB is much, much safer now (and I believe this based on the sources).
It wasn't sold to monkeys it's just operated by them.
Well we can hope that things will change now, right?
If even monkeys can make its business work, I feel safer about my money there. No joke.
I just hope they don't jack up the commissions because they have the Bet Fair model in their heads. I'm sure the money would fly out of the place, and I hope they don't learn that the hard way.
It would be interesting if WSEX picks up the pace on their payments and makes their customers whole again as a result of this.
Guess it's a wait and see approach to how this turns out...interesting though.
It was always a powerful platform. Just mismanaged.
I love pro gamblers switching sides. Depending on the size of the syndicate this could, perhaps, turn into the exchange equivalent of Pinnacle.
I'm cautiously, very carefully ........... extremely optimistic.
(Pinnaclesque, known in the retro world as second only to pinballesque; the art of keeping the ball in play while having intercourse with gravity herself)
Are they from England? And is that a possible negative for US players, in terms of legalities?
MATCHBOOK is the nuts for U.S. punters.
Yes, if they license it in Europe or publicly identify who they are, but doubt they are that stupid.
Wouldn't be surprised to see them pull out of the US market now.
So this is where WSEX got a lttle bit of cash from huh?
Hopefully this is good for Matchbook.Have been a bit hesitant to keep a large balance in Matchbook the last year or so. I could see an increase in commission though which could be bad since the liquidity is already fairly poor on in-game events
yup, at a certain point it becomes too hard to get the desired amounts into the market without massive movement and suffering limits applied by books. Some have resorted to fractional practices of betting (beards, bots at smaller numbers), but that is a big management job at a certain point. It is just easier to take the action versus sharps who fancy their number better and scalpers who spot variation between the MB exchange and offshores that pay. It becomes sharp vs sharp to get the volume they desire, and I am sure the new MB owners like their chances versus most individual sharp bettors. Pretty sure they are asking for a few other similar type groups to seed as well solely for liquidity and communication purposes.
I was half joking with you. Yes, at some point you realize that getting the juice is better than trying to beat the system. No idea what they are doing about seeding but I think MB's big problem was giving credit. When you take a million dollar loss you start looking for buyers. I think they have got the wrong model anyway and I am sure in the coming weeks I will be able to make a very strong case for that.
So there is going to be a matchbook lean in soccer now?
Nothing like a little healthy competition.
In your dreams!
Where do we send the suggestion to revert to the old commission structure?
Congrats, Fishhead! You just earned 6 cents. And you didn't even have to come up with a different 7 word post. You posted the same thing you've posted 500 times previously.
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