The lesson from the Matchbook meltdown

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  • The HG
    SBR MVP
    • 11-01-06
    • 3566

    #1
    The lesson from the Matchbook meltdown
    Don't EVER take a position, or worse yet, make an offer there, that involves any kind of hedging or planned hedging or any of that. You WILL get burned, and their answer to you will be "sucks to be you I guess".

    If you make a bet or an offer, for a much bigger pct of your bankroll than you would ever bet on one bet, because you want to hedge out later and get a locked in profit, even in combo with another book - and the site goes down, you are stuck with that bet, and you have no recourse. And even if you do manage to hedge out of it later, on a day when there are problems, they may very well just decide to cancel your second hedge bet, but let your original bet stand, leaving you with a position you didn't think you had.

    This happened to me today, for the first and last time, thankfully for only a very small amount.

    Be very wary on Matchbook making a bet or offer that is involved with any kind of hedging in any way.
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