New Betting Exchange

[C.S.]

How many times do some of you need to touch the fire before you realize it burns.

[katstale]

API issue mentioned would have to be resolved and normal deposit methods accepted. Have to be "based" outside of USA before I would send them a pinny. Pun intended.

[Legions36]

I sent them an email recommending they come on to SBR and answer our Q's. I did fund using LR , so we will see how things go. I NEED a liquid exchange. Betmaker is improving but.........

OG

Yes please keep us updated this place looks like a good find, hopefully they pay and are trustworthy they will corner the market with this.

[evo34]

Does anyone know what the total cost is to deposit and withdraw? I know they charge 2% on withdrawals, but obviously the 3rd-party processor is not free. Trying to get a handle on what the true net cost is roundtrip (money in then out).

[Pareto]

-148 on Steelers with lots of liquidity ( pinnacle has -190)

This reminds me a bit of Bestake.com

[QQPALLADIUM]

-148 on Steelers with lots of liquidity ( pinnacle has -190)

This reminds me a bit of Bestake.com

please send all deposits to

PRINCE AKEEM
ZAMUNDA, AFRICA

[JoeVig]

Is it just me or is the software looking like a total copy of Matchbook's old software (pre-takeover). More power to them if they can succeed.

[offshoregenius77]

Sure hope not. I lost a bundle with that guy Max at Parlaymakers. Never played at Bestake. Definitely going to go slow here.

[unclebuzz1]

Have they had any live in-game wagering? Where do you find it?

[appleman]

might have to give it a try another option for usa players

[MeMyselfandEye]

Here is an example, to fund you account with $5000 , using their preferred exchanger for LR


You will need #1 an account at STE, and #2 an account at LR, and #3 an account of one of their exchangers


LR charges 1% fees on everything, but a max charge of $2.99, so I will omit that for my example.


(No CC funding to buy E-currencies, so basically cash transfers only )


International Wire Transfer: $5.00
Money Transfer: (2.9%+$6): $151.00

Now, let’s say you run your balance up to $10,000 and want your original $5,000 back.


To withdraw $5,000 from your account:
STE charges 2% W.D. fee, $100.00
The exchanger charges:
International Wire Transfer: (2.9%+$25): $170.00 +$100=$270.00
Money Transfer: (4.9%+$6): $251.00 + $100=$351.00
DC transfer (4.4% + $2.25): $222.25 + $100=$322.25

Yes they offer a DC, but it will cost you $45 to get it, $8 monthly fee, and $2.50 each time you use it.


SO, minimum to get $5000 in and $5000 out, is wire transfer, total cost $275.00,
Maximum is money transfer, $502.00

[evo34]

[Deleted post]

[offshoregenius77]

Here is an example, to fund you account with $5000 , using their preferred exchanger for LR


You will need #1 an account at STE, and #2 an account at LR, and #3 an account of one of their exchangers


LR charges 1% fees on everything, but a max charge of $2.99, so I will omit that for my example.


(No CC funding to buy E-currencies, so basically cash transfers only )


International Wire Transfer: $5.00
Money Transfer: (2.9%+$6): $151.00

Now, let’s say you run your balance up to $10,000 and want your original $5,000 back.


To withdraw $5,000 from your account:
STE charges 2% W.D. fee, $100.00
The exchanger charges:
International Wire Transfer: (2.9%+$25): $170.00 +$100=$270.00
Money Transfer: (4.9%+$6): $251.00 + $100=$351.00
DC transfer (4.4% + $2.25): $222.25 + $100=$322.25

Yes they offer a DC, but it will cost you $45 to get it, $8 monthly fee, and $2.50 each time you use it.


SO, minimum to get $5000 in and $5000 out, is wire transfer, total cost $275.00,
Maximum is money transfer, $502.00

I think it comes down to being worthwhile if you are active and the liquidity of the exchange stays strong. If you are in and out of sportsbooks with your bankroll regularly, its probably not for you. Also, the parlay function they have has low liquidity thus far, and no live wagering thus far. Not a factor for me, because thats not my thing. I like being able to hit lines early.

Exchange trading definitely isnt for everyone, as we all know. I am going to tread lightly until I get some confidence with them, but it looks promising. My style of betting doesn't work well enough at -110, and Betmaker doesn't have college hoops lines up yet for today's games.

I'm just hoping they can stay around and pay.

OG

[bookie]

Here is an example, to fund you account with $5000 , using their preferred exchanger for LR


You will need #1 an account at STE, and #2 an account at LR, and #3 an account of one of their exchangers


LR charges 1% fees on everything, but a max charge of $2.99, so I will omit that for my example.


(No CC funding to buy E-currencies, so basically cash transfers only )


International Wire Transfer: $5.00
Money Transfer: (2.9%+$6): $151.00

Now, let’s say you run your balance up to $10,000 and want your original $5,000 back.


To withdraw $5,000 from your account:
STE charges 2% W.D. fee, $100.00
The exchanger charges:
International Wire Transfer: (2.9%+$25): $170.00 +$100=$270.00
Money Transfer: (4.9%+$6): $251.00 + $100=$351.00
DC transfer (4.4% + $2.25): $222.25 + $100=$322.25

Yes they offer a DC, but it will cost you $45 to get it, $8 monthly fee, and $2.50 each time you use it.


SO, minimum to get $5000 in and $5000 out, is wire transfer, total cost $275.00,
Maximum is money transfer, $502.00

Strong post. Thanks for doing the legwork.

[FourLengthsClear]

I asked about API access and was told that they have no plans to make the API available to all customers.
I then asked whether any customers currently have API access - no response yet.

In terms of funding, I would have no problem, in principle, using LR or Bitcoin. Europeans can buy LR free of charge through an IBAN transfer through one of the exchangers.

[unclebuzz1]

POTENTIAL SCAM ALERT!!! ... low fee to send money in ... big incentive to keep a high balance (to avoid 2% STE fee plus 4% exchanger fee and again if reload is necessary after withdrawal) ... yet STE makes no profit unless you withdraw??? ... What am I missing? ... I'll wait on this one!

.

[MeMyselfandEye]

Uncle - I thought the same thing....

Then I also thought this is Matchbook attempting to get back into the US market - same software...if it is not how is someone else able to use it? You would think Matchbook would have a fit if another start-up did this. makes me think they are connected.

Now, by using 3rd party LR, they are not breaking any banking laws in the US...so they may get to keep the .com name without the DOJ knocking it off.

The LR and the ExGP exchanger are legit , i just cannot see how STE makes any money..2% to withdraw?.

Now, the monthly fee, lets say its $10 bucks..maybe the are counting on 200,000 players for a monthly rake of $2 Million. Or this is a clearing house for other books to reduce their risk.

Need more information, treading carefully...

[MeMyselfandEye]

The IP Address takes you to Luxembourg Germany

IP Information for 212.117.165.229
IP Location: Luxembourg Luxembourg Root Sa
ASN: AS5577
Resolve Host: ip-212.117.165.229.root.lu
IP Address: 212.117.165.229 [Whois] [Reverse-Ip] [Ping] [DNS Lookup] [Traceroute]
Reverse IP: 1 website uses this address. (sportstradingexchange.com)

inetnum: 212.117.160.0 - 212.117.175.255
netname: SERVER-NETWORK
descr: root SA
country: LU
admin-c: AB99-RIPE
tech-c: RE655-RIPE
status: ASSIGNED PA
mnt-by: ROOT-MNT
source: RIPE # Filtered

role: root eSolutions
address: 35, rue John F. Kennedy
address: 7327 Steinsel
address: Luxembourg
phone: +352 20.500
fax-no: +352 20.500.500

[Legions36]

The IP Address takes you to Luxembourg Germany

IP Information for 212.117.165.229
IP Location: Luxembourg Luxembourg Root Sa
ASN: AS5577
Resolve Host: ip-212.117.165.229.root.lu
IP Address: 212.117.165.229 [Whois] [Reverse-Ip] [Ping] [DNS Lookup] [Traceroute]
Reverse IP: 1 website uses this address. (sportstradingexchange.com)

inetnum: 212.117.160.0 - 212.117.175.255
netname: SERVER-NETWORK
descr: root SA
country: LU
admin-c: AB99-RIPE
tech-c: RE655-RIPE
status: ASSIGNED PA
mnt-by: ROOT-MNT
source: RIPE # Filtered

role: root eSolutions
address: 35, rue John F. Kennedy
address: 7327 Steinsel
address: Luxembourg
phone: +352 20.500
fax-no: +352 20.500.500

Thanks for looking into this info for us. People were saying they were here in the U.S. but i guess not.

[LordVodka]

This is good news for those of us who played at Matchbook.

[BrigadierPudding]

There's reason for optimism here, but yeah... tread carefully. I don't think the US Govt has the jurisdiction to stop LR from transferring e-currency. This is not Moneybookers or Neteller. Then again, this could be a total scam. The low fees are more than a little worrisome.

[unclebuzz1]

A Ponzi scheme is a fraudulent investment operation that pays returns to its investors from their own money or the money paid by subsequent investors, rather than from any actual profit earned by the individual or organization running the operation. The Ponzi scheme usually entices new investors by offering higher returns than other investments, in the form of short-term returns that are either abnormally high or unusually consistent. Perpetuation of the high returns requires an ever-increasing flow of money from new investors to keep the scheme going.
The system is destined to collapse because the earnings, if any, are less than the payments to investors. Usually, the scheme is interrupted by legal authorities before it collapses because a Ponzi scheme is suspected or because the promoter is selling unregistered securities. As more investors become involved, the likelihood of the scheme coming to the attention of authorities increases.

.

[noyb]

The IP Address takes you to Luxembourg Germany

Luxembourg isn't in Germany, but a country of its own. Also, this company has no license there.

-148 on Steelers with lots of liquidity ( pinnacle has -190)

i have not compared prices, but if this is true, this outfit is a scam; no doubt about it. you shouldn't tread carefully, you should not tread at all.

[bookie]

I'm leading toward scam based on prices myself. Right now the world has Eagles (-8) over the Bears, but this place has had a $1000 at +9, -104 sitting out there for half an hour. Those are obviously just show offers.

[unclebuzz1]

Major Scamsville ... Duke +11.5 @-106 at STE ... Duke +10.0 @-108 at Pinnacle ... somebody please confirm ...

[FourLengthsClear]

I'm leading toward scam based on prices myself. Right now the world has Eagles (-8) over the Bears, but this place has had a $1000 at +9, -104 sitting out there for half an hour. Those are obviously just show offers.

To be fair, the true value of the full point is only around 8 cents and on Betfair nearly USD 20k was traded on the Eagles -8.5 between +100 and -102 only about 1 hour ago (n.b. the market has moved sharply since then.)

With that said, I am not exactly rushing to sign up with this new outfit!

[MeMyselfandEye]

Bears -104 $913.12
Eagles-102 $666.00

Hasn't moved in 20 minutes...8:20 EST currently, 10 minutes before Gametime..a

[MeMyselfandEye]

They have them at +9 BTW

[MeMyselfandEye]

Not one number has moved in 30 minutes. Not one offered appeared, not one disappeared, usually you see some type of activity.

From their press release: "Until now, the exchange has been open only to large global bookmakers and former exchange floor traders. The betting exchange is currently experiencing strong liquidity in the following markets (with dedicated market makers)"

I think they mean ZERO liquidity..

[bookie]

To be fair, the true value of the full point is only around 8 cents and on Betfair nearly USD 20k was traded on the Eagles -8.5 between +100 and -102 only about 1 hour ago (n.b. the market has moved sharply since then.)

With that said, I am not exactly rushing to sign up with this new outfit!

At the time I wrote the post screen was painted at eight, and anybody with a Pinnacle account could have picked off that +9, -104 and had an eighteen cent scalp.

[evo34]

I'm leading toward scam based on prices myself. Right now the world has Eagles (-8) over the Bears, but this place has had a $1000 at +9, -104 sitting out there for half an hour. Those are obviously just show offers.

The prices are not real. For a while, there were crossed offers in financial options markets. E.g., one could get +115 and +120 on opposite sides of a binary bet for at least the past four days. I pointed this out to the guy at STE, and he said there are often "crazy" offers in the financial markets, due to people needing to hedge, etc. Incredibly unlikely, but even if so, his exchange should be matching any overlapping offers. He then claimed that someone swooped in 'swiftly' [magically within minutes of my email] and hit these bets.

Blatant lying. My best guess is that all the offers are fake, and this guy will see what kind of deposits he can drum up and then run...

[FourLengthsClear]

At the time I wrote the post screen was painted at eight, and anybody with a Pinnacle account could have picked off that +9, -104 and had an eighteen cent scalp.

No. At the time you wrote the post Eagles -9 was 'only' +108 at Pinny.
As mentioned the true value of the full point between 8 and 9 is only around 8 cents. Also as mentioned the Betfair market was even more skewed compared to the Pinny line at that point.

[unclebuzz1]

Message on the STE website ... "Thank you for your overwhelming interest in our betting exchange. We have decided to limit our funded accounts to 1,000 users until we improve the performance of our server and trading platform. If you funded an account before 11/6 your password will work here and you can continue trading. If you signed up without funding, you will be contacted when we are ready to expand our trading base."

[offshoregenius77]

I now get redirected to a digital address on a dedicated server. Im up a shade and Ill let everyone know if actually see any of it. They made everyone re-post offers from scratch. The old site was REAL slow, not the case with this one. Ill know by the 15th if they are bs-ing me .......

[evo34]

I now get redirected to a digital address on a dedicated server. Im up a shade and Ill let everyone know if actually see any of it. They made everyone re-post offers from scratch. The old site was REAL slow, not the case with this one. Ill know by the 15th if they are bs-ing me .......

Nice 30 cent arb avail. on the Dow Jones over/under 11,700...-120 and +150 on the same bet. Generally you need at least two different sources to create an arb opp. Apparently not at STE. How generous. Either a bug or this whole thing is fake. I would have to assume the latter.