Matchbook Horse racing now live - 0% comm till end July
This week I had a meeting with a bf account rep, and was totally left feeling, they dont care.
I opened an account with matchbook in 2013, and .. tried to call my account rep.
His number just rang . so, called the main desk.
A new account manager rang me back, within 10 mins .. and could not have been more helpful.
The original guy, had been promoted. He tried to call me 4 times, before he finally got hold of me .. and we had a chat.
I hope they do well .. but, it will all come down to liquidity etc .. they will do deals, for market makers --- which, has long been a gripe, for me at least, with Bf.
I am really finding .. at 40% PC, betfair is not the only solution.
I opened an account with matchbook in 2013, and .. tried to call my account rep.
His number just rang . so, called the main desk.
A new account manager rang me back, within 10 mins .. and could not have been more helpful.
The original guy, had been promoted. He tried to call me 4 times, before he finally got hold of me .. and we had a chat.
I hope they do well .. but, it will all come down to liquidity etc .. they will do deals, for market makers --- which, has long been a gripe, for me at least, with Bf.
I am really finding .. at 40% PC, betfair is not the only solution.
Am i working this out correctly with regards to the commission structure?
Take these 3 pretend trades:
Back 100 @ 10 Lay @ 8.
Back 100 @ 5 Lay @ 4.
Back 100 @ 2.5 Lay @ 2.
Each of those examples on betfair and betdaq would result in £25 green, then be subject to commission.
If i did these trades on matchbook, would this be the result? (Assuming 1% commission, i know the actual rate is now 1.15).
Back 100 @ 10 Lay 125 @ 8.
IF WIN: +891 (900 win less 1%)
-875 (losses from the lay bet)
- 1.25(comm from lay bet 125 @ 1%.
=14.75
IF LOSE: -101 (back bet stake + 1% comm)
+123.75 (lay bet stake less 1%)
=22.75
Back 100 @ 2.5 Lay 125 @ 2.
IF WIN: +148.5 (winnings from back bet less 1%)
-125 (losses from the lay bet)
-1.25 (comm from the lay bet)
=22.25
IF LOSE: -101 (back bet stake + 1% comm)
+123.75 (lay stake less 1%)
=22.75
Are those examples correct in how the commission works, or have i understood it wrong?
Take these 3 pretend trades:
Back 100 @ 10 Lay @ 8.
Back 100 @ 5 Lay @ 4.
Back 100 @ 2.5 Lay @ 2.
Each of those examples on betfair and betdaq would result in £25 green, then be subject to commission.
If i did these trades on matchbook, would this be the result? (Assuming 1% commission, i know the actual rate is now 1.15).
Back 100 @ 10 Lay 125 @ 8.
IF WIN: +891 (900 win less 1%)
-875 (losses from the lay bet)
- 1.25(comm from lay bet 125 @ 1%.
=14.75
IF LOSE: -101 (back bet stake + 1% comm)
+123.75 (lay bet stake less 1%)
=22.75
Back 100 @ 2.5 Lay 125 @ 2.
IF WIN: +148.5 (winnings from back bet less 1%)
-125 (losses from the lay bet)
-1.25 (comm from the lay bet)
=22.25
IF LOSE: -101 (back bet stake + 1% comm)
+123.75 (lay stake less 1%)
=22.75
Are those examples correct in how the commission works, or have i understood it wrong?
I am not the best to work these things out .. will send it to my account manager at Matchbook.
Thanks megarain.
Was just trying to get my head round the commission from a trading perspective.
Looks interesting and I wish them well, though it seems as if it is better for outright backers and layers rather than traders, especially traders in the traditional sense, as it looks like scratch trades would cost you money too, so there would be no probing the market and taking a few speculative positions.
I guess that is no accident though, as it will mean they won't have to go down the premium charge route should things take off.
Looks good for position takers and for arbing/hedging with the books if liquidity takes off.
Was just trying to get my head round the commission from a trading perspective.
Looks interesting and I wish them well, though it seems as if it is better for outright backers and layers rather than traders, especially traders in the traditional sense, as it looks like scratch trades would cost you money too, so there would be no probing the market and taking a few speculative positions.
I guess that is no accident though, as it will mean they won't have to go down the premium charge route should things take off.
Looks good for position takers and for arbing/hedging with the books if liquidity takes off.
Yes, thats the basic take I have.
There is a decent explanation of comm on the website.
https://www.matchbook.com/page/getting_ ... explained/
Thou, it doesnt show, how off-setting trades are dealt with.
There is a decent explanation of comm on the website.
https://www.matchbook.com/page/getting_ ... explained/
Thou, it doesnt show, how off-setting trades are dealt with.
On this mkt last night, I paid 38.99 comm.
Lets try and work it out :
Lets try and work it out :
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So, I had 5 bets on Tribago (who won) .
I 1 bet on St Lucia who lost.
2 backs : 3500 at 1.877 to win 3070 .. comm at 1.15 % = 35.30
3 losing bets .. stake 1300, but loss 975 .. comm = 11.21
1 losing bet .. stake 145 .. comm = 1.66
Comm shud be 48.17 ?? .. paid 38.99 ??
scratching my head ..
I 1 bet on St Lucia who lost.
2 backs : 3500 at 1.877 to win 3070 .. comm at 1.15 % = 35.30
3 losing bets .. stake 1300, but loss 975 .. comm = 11.21
1 losing bet .. stake 145 .. comm = 1.66
Comm shud be 48.17 ?? .. paid 38.99 ??
scratching my head ..
Thanks megarain, i cant work that out either.
It does seem far more suited to position taking than trading. Especially at higher odds ranges it seems, maybe for lower price runners it could work out ok.
Traditional methods like scaping look as if they could end up at a loss, even if the trade is successful, particularly in the higher odds range which wouldnt be ideal for festival meetings.
Be interesting to see how it develops though and what kind of feedback other traders give.
It does seem far more suited to position taking than trading. Especially at higher odds ranges it seems, maybe for lower price runners it could work out ok.
Traditional methods like scaping look as if they could end up at a loss, even if the trade is successful, particularly in the higher odds range which wouldnt be ideal for festival meetings.
Be interesting to see how it develops though and what kind of feedback other traders give.
Over the very long term most trading positions end up at a tiny % of return on capital so commissions near 1% or so would dwarf returns on most trading strategies.
I wonder whether an exchange should set up with a transaction fee per trade perhaps?
Commission models worth well in financials as they are yielding assets, but I just can't see how commission like this will work longer term in sports markets.
I wonder whether an exchange should set up with a transaction fee per trade perhaps?
Commission models worth well in financials as they are yielding assets, but I just can't see how commission like this will work longer term in sports markets.
Got a reply from Account rep :
Current promotion on ckt, of 2% net win .. so, comm charge was right.
Current promotion on ckt, of 2% net win .. so, comm charge was right.
A competitor has a API product :
It doesnt take into account comm .. (unless there is a setting somewhere .. ) which is a shame.
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