Alternative betting exchanges, Smarkets, Matchbook etc. : Matchbook exchange - Breaking news

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Bog
Posts: 156
Joined: Sat Aug 11, 2018 7:19 am

Tue Feb 18, 2020 6:59 am

Alphabet wrote:
Mon Feb 17, 2020 7:27 pm


13.2 We hold customer funds separate from company funds in a mixture of bank accounts and in reserve funds which we hold with our payment processors. These funds are not protected in the event of insolvency. This meets the UK Gambling Commission’s requirements for the segregation of customer funds at the level: Not Protected
Betfair funds are protected?

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LeTiss
Posts: 4749
Joined: Fri May 08, 2009 6:04 pm

Tue Feb 18, 2020 9:10 am

Will they come back, or fold?........Either way, they are buggered

Exchanges rely upon good faith and trust. Once punters and traders stop trusting the integrity of the company holding your money, then people will stop using them and stop depositing money

I have often wondered about the resiliance of Betfair's finances. Because of traders operating banks, they must be holding a huge amount of our money in their accounts. How robust are their finances if we all started withdrawing our money at the end of each day?

thelearner
Posts: 4
Joined: Sun Jun 10, 2018 10:38 am

Thu Feb 20, 2020 8:22 am

I have received my money.

invisiblelayer
Posts: 190
Joined: Fri Sep 10, 2010 7:08 pm

Thu Feb 20, 2020 1:11 pm

Only used them a few times in the past mainly Horse place markets, no problems. Tried using them for the first time in over a year a few weeks ago and account suspended for some reason. Couldn't be bothered to chase it up and will certainly stick to Betdaq as an alternative in future. Seen plenty of negatives around them recently with account closures on winning accounts citing responsible gambling terms and reading about this high rollers stunt I hope they shut down for good.

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Euler
Posts: 19789
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Location: Bet Angel HQ
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Thu Feb 20, 2020 1:35 pm

I note that core market 'Liquidity' after the closure was almost exactly the same as before despite cutting off most of their customers.

spreadbetting
Posts: 2953
Joined: Sun Jan 31, 2010 8:06 pm

Thu Feb 20, 2020 1:37 pm

Their 'revenue share' of 60% of your profits after winning $20,000 should have been enough to put off most serious traders.
6.5 A Member who meets or exceeds 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:

Commission rate up to 3.5% per bet (“Transactional Rate”); or
Commission rate up to 5% of Gross Profit per market (“Market Commission Rate”); and/or
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”).

6.6 The thresholds are as follows:

$1,000,000 (one million US Dollars) of Betting Volume; and/or
$20,000 (twenty thousand US Dollars) of Betting Profits

(which shall severally and jointly be referred to as the “Thresholds”).

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megarain
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Sat Apr 11, 2020 7:27 am

Gambling Commission report on Matchbook.

Money laundering/Due diligence issues/social responsibility issues

http://www.gamblingcommission.gov.uk/ne ... ts-licence

LinusP
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Sat Apr 11, 2020 9:25 am

megarain wrote:
Sat Apr 11, 2020 7:27 am
Gambling Commission report on Matchbook.

Money laundering/Due diligence issues/social responsibility issues

http://www.gamblingcommission.gov.uk/ne ... ts-licence
Wow that makes for an interesting read!

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megarain
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Tue Aug 11, 2020 5:27 pm

Gambling Commission lifted restrictions.

They back.

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