MATCHBOOK.com

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burdo77
Posts: 351
Joined: Sun Jun 09, 2013 4:13 am

I'm finding that matchbook is very good tool for trading betfair markets particularly pre match when I'm looking to get Just one or two ticks.
Matchbook is good because it displays 3dp rather than 2dp with betfair.
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Shamrock
Posts: 205
Joined: Thu Sep 30, 2010 11:41 am
Location: Perth Wester Australia

They us Aussie $ as well and you can bet in play no problems. Smarkets also can be used in play but no Aussie $.
Good for me to close out quickly.
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Naffman
Posts: 5626
Joined: Sun Aug 11, 2013 5:46 am

Checked it out tonight and isn't letting me view the odds in-play???
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Naffman
Posts: 5626
Joined: Sun Aug 11, 2013 5:46 am

Very poor how the market has basically not being working on Aus/Ind since lunch.
maycontainnuts
Posts: 88
Joined: Wed Oct 10, 2012 5:58 pm

Looked at MB last year when they had the offer. But couldn't get any orders filled. Loads of money available but it's obviously seeded like smarkets was. Asked around and the backers are two massive shrewdies, so it looks like you are betting or trading against them. Bit worrying.

Commission is based on turnover, so it's a dead duck.
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Euler
Posts: 24700
Joined: Wed Nov 10, 2010 1:39 pm
Location: Bet Angel HQ

Matchbook spoke to a number of vendors this time last year and offered to fund development for us. We preferred to put our energy elsewhere especially in a year when Betfair’s new API was coming on board, we wanted to ensure people could transition to that with the minimum of fuss.

Aside from the development side of things, my view was that they had to change the commission structure and other elements as it wasn't possible to trade on Matchbook effectively without that. If I can't trade using an app we developed, there didn't really seem a lot of point in trying to encourage others to do so.
tomallen123
Posts: 107
Joined: Mon Nov 01, 2010 1:52 pm

With their commission structure, it isn't viable for people who make lots of trades per sporting event but for those people who make a trade looking for huge swings such as in cricket or tennis then surely there is potential (for pc payers only).

Regarding liquidity, it seems to me that Matchbook seed the markets themselves copying betfair odds.
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Euler
Posts: 24700
Joined: Wed Nov 10, 2010 1:39 pm
Location: Bet Angel HQ

It's a nice thought but it doesn't work in practice. That's why conventional exchanges were a massive opportunity when it first started. It was the lack of transaction costs that appealed. All traders, even swing traders, end up with a small +ve percentage on turnover as standard. So it's transaction costs that end up determining a lot of your total return.

With other exchanges offering a better deal and better liquidity is would be unusual to see this model succeed. As Betfair have proved it's underlying liquidity that seems to be the key and makes a market tradeable. Betdaq has been improving a lot in the last two years and racing volumes are rising fast there. I think they may have got to a tipping point there.
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Naffman
Posts: 5626
Joined: Sun Aug 11, 2013 5:46 am

Matchbook should have 2 options for traders/punters:

Option 1: 1% of Turnover that is already in use

OR

Option 2: Pay 3% of Profits on each market.

Therefore, traders would pick Option 2 and punters Option 1, surely this would boost liquidity so much. But what can you do :roll:
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Euler
Posts: 24700
Joined: Wed Nov 10, 2010 1:39 pm
Location: Bet Angel HQ

I think there is a gap in sports markets for a pure exchange.

Last year in financial markets but earnings exceeded that of sports markets. But in financials I only paid a transaction fee for buying and selling risk. I didn't pay a slice of that to the exchange. So on that model I take risk and profit (or loss) on my own terms. When I win I win and when I lose I lose. I am using the exchange as a mean of facilitation an exchange of contract.

On sports markets I can devote six months and a ton of money to finding some unique edge, but the exchange takes a cut of my profits. I'd much prefer it to the be the former.

That said, I can work with the models in place on the established exchanges and change my behaviour to adapt but if an exchange came along where they made margin on the transactions than the activity then I could instantly see the appeal of that. But would have to be based on the cost of a transaction, not a percentage of my activity or profit.

There must be a core cost to processing a bet, based on Betfair's ballooning profits its below that which they charge for commission. If an exchange set up as a pure exchange and nothing else I think that would be really appealing to a lot of people.
tomallen123
Posts: 107
Joined: Mon Nov 01, 2010 1:52 pm

Matchbook 0% commission on Australian Open live tennis betting.
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Naffman
Posts: 5626
Joined: Sun Aug 11, 2013 5:46 am

Got an email today saying that you can apply for a trial 3 month gross profit commission instead of a turnover commission. It will be the same % as Betdaq at 3% so definitely worth looking into, and a smart move by Matchbook IMO.
burdo77
Posts: 351
Joined: Sun Jun 09, 2013 4:13 am

When will we see software to trade matchbook?

Us aussie users are really missing out due to betfair/Aus govt rules....
tomallen123
Posts: 107
Joined: Mon Nov 01, 2010 1:52 pm

I looked at matchbook during one of the recent big bash matches.
They obviously just take prices from Betfair but there was a huge amount of money available and it would definitely have been tradable, offering a viable alternative to Betfair.
I'll try using them for the final tomorrow and maybe for some of the Aus Open tennis matches to see how it fares.
maycontainnuts
Posts: 88
Joined: Wed Oct 10, 2012 5:58 pm

Be cautious when using matchbook, all that money is seeded by matchbook. If you win they lose. Looks like they already closed an account for winning.
Well let me tell you the story in few lines. The first time they locked my account was 10-1-2015 saying:
"Please be advised that your account has been suspended temporarily pending a review by our Risk and Compliance team
Can you please explain your betting practises on R Bautista Agut vs A Bedene?
Once the review has been completed you will be contacted by the Risk and Compliance Team

If you have any further questions, please feel free to contact us.
Regards,
Matchbook Support"

I asked them what do you mean by saying to explain my betting practices! I was trading what was wrong with that?

They didnt say anything. After around 2 hours they unlocked my account saying:"Your account has now been re-activated"
I thanked them!

Next day at 11-1-2015 they locked my account again without sending an email to me this time! I asked them:" My account is locked again???
Why? This is unacceptable.
If you cant handle traders maybe you shouldn't have this geek software! This is not a good way to have your website grow!

Please inform me for what actions I have to take!

Thank you

On 12 of January I got an answer : "Thank you for contacting us. We would like to inform you that we are waiting for the results of your issue. As soon as a result will arrive you will be informed immediately.
We would like to ask your patience a little more."

Much later the same day I wrote to them: "First of all thank you for the answer!

But can you explain to me what do you mean by saying "waiting for the results of your issue" ? Has my account been locked automatically for some reason or someone locked it for another reason? And when you will get the results explain to me please if you can what do I do wrong so I would avoid doing it!

Thank you"

Later I had this answer "Dear Sir,

I am afraid that I don't have the requested information. All we can see is that your account has been temporarily suspended until further notification. We really hope that will change soon however we cannot foretell when will this happen.
We are sorry for the inconvenience and ask your cooperation."

After 2 days 14-1-2015 I got this answer: "Our compliance team have concluded their investigation. The account is now fully active, however it will continue to be monitored going forward."

I answer to that email saying: "Thats it?
Without telling me why you locked my account?
Without telling me what did I do wrong so I will not do it again and have my account locked again?
And what do yo mean by saying "The account is now fully active, however it will continue to be monitored going forward." It was not fully active before? It will keep being monitored for what? I dont think is a responsible answer!

Please tell me what was the wrong that I did in my trading?

Thank you!"

On 15 of January they answer: " Please note the line from our terms and conditions which states:

We may (in our sole and absolute discretion) (i) refuse to register an applicant or (ii) suspend and/or terminate a Member's registration and Member's Account, with no obligation to provide Members with any reasons for so doing. In amplification of the aforegoing but without limitation and without restricting our ability to rely on other remedies that may be available to us, we will suspend or terminate Members' Accounts or cancel any unmatched offers at our absolute discretion if: (i) we suspect that or Members are acting other than on their own behalf or otherwise in concert with others or engaging in illegal or fraudulent activity while using the Matchbook Services; (ii) we suspect that or Members are breaching any terms of this Agreement; (iii) we suspect that or Members are acting in a manner that is detrimental to the conduct of Matchbook's business; (iv) we suspect that Members may be or are having difficulties obtaining credit; (v) we suspect that or it is illegal for a Member to participate in the Exchange, (vi) we are unable to verify registered address or contact telephone number; or (vii) we are required to do so by law.

https://www.matchbook.com/page/rules_an ... onditions/"

I didn't say anything!

Then on 18 of January they locked my account again!!! I sent this email: "Come on!!!

What's wrong again? You cannot do this all the time! This is unfair! If you cannot handle traders at least do not behave to them with such respectfulness manner!

Will you explain to me this time why you locked my account again?"

After that no answer till the time I am writing this post and my account still locked!

I am a betfair trader and I am using a certain way of trading as everyone else use their own tactic. If this not acceptable to matchbook they should tell me what did I do wrong so I will trade the way they accept or leave the site if I decide that is not for me!

Anyway I hope I haven't been offensive to anyone and I hope this problem will be solved soon!
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