Matchbook Premium Charge

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LeTiss
Posts: 5386
Joined: Fri May 08, 2009 6:04 pm

Anyone seen this? - it's been posted on Twitter

Matchbook will now take 60% of anyone's monthly winnings, if they are £20k in profit

Terrible move by them
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jimibt
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LeTiss wrote:
Mon Oct 08, 2018 4:17 pm
Anyone seen this? - it's been posted on Twitter

Matchbook will now take 60% of anyone's monthly winnings, if they are £20k in profit

Terrible move by them

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i take that more to mean profit per calendar month, rather than being in profit in any calendar month. still terrible either way....
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Euler
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Location: Bet Angel HQ

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Euler
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Knowing the data that sits behind exchanges, I'm not surprised to see additional charges. A small number of accounts on an exchange tend to win a disproportionate amount of money. So they only way to rebalance the market is to charge them a lot more or make them leave, though the amounts are excessive where this applies for sure.

Being a payer, I'm not going to be an apologist for additional charges. The big payers seem to get treated worse than people who generate far less value. Tight pricing encourages use, not discourages it. I'm sure that will play out over time. People expect to get paid something for taking huge risk.
Trading96
Posts: 470
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Deleted in 3,2,1

https://twitter.com/TeamMatchbook/statu ... 5910664194

It's worse than betfair as you can't even avoid it, anyone profitable gets caught in the net.

I don't pay Betfair PC but I would if I traded naturally.
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megarain
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The language is a little vague .. it says, a customer 'may be charged' etc.

Are they going to decide each account on a case by case basis ?

Its not like they have a massive API/Bot business.

I am genuinely confused what they are trying to achieve - why not just close the business ?

What about on course horse liquidity ?? Bookies built API links FFS.
pythonic
Posts: 65
Joined: Sun Jul 08, 2018 10:20 pm

Euler wrote:
Mon Oct 08, 2018 4:32 pm
Knowing the data that sits behind exchanges, I'm not surprised to see additional charges. A small number of accounts on an exchange tend to win a disproportionate amount of money. So they only way to rebalance the market is to charge them a lot more or make them leave, though the amounts are excessive where this applies for sure.
Agreed, I can accept that they want a cut of the money that flows out of the system, but charging 60% after 20k of lifetime profits or 3.5% from every bet(!) is very aggressive.
For me that means that I can't take them seriously. That's basically a winners not welcome policy, far worse than at betfair.
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northbound
Posts: 737
Joined: Mon Mar 20, 2017 11:22 pm

Euler wrote:
Mon Oct 08, 2018 4:32 pm
A small number of accounts on an exchange tend to win a disproportionate amount of money. So they only way to rebalance the market is to charge them a lot more or make them leave,
I’ll sound very dumb to you, but can you please explain the logic of this approach taken by exchanges?

What’s their problem with a consistent winner? Is it that their own in-house algos then make less money?

To me an exchange should be a platform that provides a bidding mechanism and takes 5% fees out of every market. No more, no less. It shouldn’t even be allowed to trade its own markets.

I take the same view as the article that megarain posted in another thread.

https://www.quantumsportssolutions.com/ ... r-everyone
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megarain
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I contacted a v helpful chap at Matchbook.

Here is a copy of the transcript.

I have learnt from another channel, horse-racing liquidity providers from racecourse are not affected.

Betfair could learn a lot from the customer service.
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Westerner
Posts: 161
Joined: Fri Apr 17, 2009 10:03 am

Good to know Megarain but as soon as you hit £20k profit or that overall stake amount hits £1m you're in the net. No way out.
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