Investigation & Interview: Matchbook’s New Racing Markets Explored
In our recently released 2016/17 Essential Football Compendium we ran investigations into 4 different betting exchanges and brokers that we felt could offer better value odds for punters looking to improve their betting.
One of the services we investigated was Matchbook, who at the end of July added UK and Irish racing win betting markets to their exchange, which in an age of bookmaker restrictions was a very welcome move indeed.
Since launch, their racing markets have gone from strength to strength with increasing amounts of money traded and most crucially of all – a lower commission charge than exchange kingpin and main rivals Betfair.
After observing their racing markets for sometime, it has become obvious that Matchbook represents a genuine option for shrewd racing punters – especially those looking to squeeze more value out of their bets. After all, if you can add an extra 2 to 3% to your overall betting – that has to be worth it right?
To help illustrate how Matchbook’s odds stack up in comparison, yesterday afternoon I ran a simple exercise by pitting Matchbook’s odds up against their main rivals Betfair and a group of racing bookmakers (Consisting of Bet365, Bet Victor, Paddy Power, Ladbrokes, William Hill, Coral, Betfair Sportsbook & Totesport).
I took the odds just before the off on the front 5 in the market from each group – deducting 1.15% commission on Matchbook’s odds and 5% on Betfair.
The results were fascinating but not surprising…Here is what I found:
2.30 Doncaster – Matchbook best price on 3 of the front 5 horses in the market
2.40 Epsom – Matchbook best price on each of the front 5 horses
2.50 Chepstow – Matchbook best price on 3 of the front 5 horses in the market
In each of these 3 races, Matchbook offered strong value odds especially when taking commission into consideration.
Take for example, Ocean Eleven in the 2.40 race at Epsom as both Betfair and Matchbook offered odds of 11.5, yet after commission, you would have got the equivalent of 11.33 at Matchbook and 10.93 at Betfair (the difference between 1.15% and 5% commission).
Betfair’s commission rate does go down the more you bet with them (although you have to bet a lot to get it down beyond 4%) and Matchbook take 1.15% on all bets, yet still the differences can often be vast.
Its no exaggeration to suggest that simply using Matchbook can at times add 2-3% extra to your betting profits.
It’s not to say you should ditch Betfair as at times they still offer value and markets Matchbook do not as yet, but if betting on a horse to win – you should consider Matchbook.
MATCHBOOK INTERVIEW
I also recently interviewed Matchbook to understand more about how they work, their plans for the future and just why punters might consider betting with them.
Originally published in Part 6 of our Essential Football Compendium, I have copied the interview in full below for you all to enjoy.
SBC: First off – for those unfamiliar with you, can you explain in general a little bit about Matchbook, the markets you offer and why punters are choosing to use your service?
Matchbook: Matchbook are the fastest growing betting exchange in the world, with deep liquidity and best prices across a huge array of popular markets, particularly in Soccer and US Sports (NBA, NHL, NFL, MLB). For anybody in the market for the most competitive prices and lowest commission, you need look no further than Matchbook. Our standard commission rate is 1% but we’re constantly offering lengthy promotions of 0% Commission offers. This year we’ve ran 0% on the ICC Cricket World Cup, In-Play MLB and most recently on Horse Racing to celebrate the launch of the product on Matchbook.
Our own research indicates that the football odds on offer from Matchbook are some of the most competitive out there – better than some Asian firms. How have these markets grown in the past 12 months?
Matchbook’s aim is to be as competitive as possible on the markets we offer, Soccer 1x2s and Asian Spreads/Totals are our bread and butter. But with an increase in the amount of markets offered both pre-game and in-play coupled with our low commission and highly competitive odds we have attracted more market makers organically and are building a huge liquidity pool.
In terms of liquidity and money traded – how has that increased of late?
Overall money traded has increased by over 20% to £3bn for the first 5 months of the year. Football has increased by over 31% to £1.3bn and the Champions League final this year was up over 50% with £31m being traded across all markets.
How about betting in-play on football, how is that faring?
Our live offering is increasing constantly. With all major leagues now covered we will look to increase our live coverage by 2-3x from the start of September. We have seen a huge increase in users betting on in-play markets and making more events available to them is a key focus for us during the 2016/17 season.
Racing fans will be delighted to see the introduction of UK and Irish horse racing markets. I know its early days but what has been the response and how is liquidity?
It is early days for Horse Racing but that hasn’t stopped it being a huge success so far! Currently we’re offering all UK and Ireland meetings pre-race only and the first few weeks have shown us that it’s going to be a hugely popular addition for both existing users and new users. Our strategy to adding new sports/markets has always been to ensure that we are launching with one of the best products in the market and that patience is already proving to be correct with horse-racing. Recently we were one of the main betting sponsors for the Goodwood Festival and there was some great action on those markets.
Do you have plans to expand the racing markets you offer? For example, place markets or each way betting?
Certainly. We know that place markets and EW are hugely popular markets and the addition of lay betting adds an entirely different dimension to these bets so we’re working towards having those markets and many others offered very shortly. In-running markets are also important and that is something we are working on currently.
SBC’S 6-PART FOOTBALL COMPENDIUM
Click on each image below to read more about all 6 parts
Looking at some other markets, Cricket betting and trading is becoming more and more popular these days. What markets and competitions do you cover for this sport?
We offer the following International cricket competitions: Test Series, One Day International’s, T2O Internationals. On top of this we offer the following domestic competitions: India-IPL, Australia- Big Bash League, South Africa – RAM Slam T20 challenge, Bangladesh – Bangladesh Premier League, UK – NatWest T20 Blast and Royal London One Day Cup, Pakistan – Super League, Caribbean – CPL.
All the big International comps are covered also, World Cups, Tri series and the Ashes. The markets offered are: Match odds for test series and Moneyline markets for the rest as well as outright markets for the big competitions.
The same can be said in terms of popularity for betting on political events – how much was traded on the EU referendum market and what type of markets do you offer here?
There was 12.125m matched on the Brexit markets and as the course of the referendum day played out there was some huge swings in the market with the Remain result trading at 1.06 at one point. These types of markets are exactly what exchange trading is all about and some shrewd customers made significant profits trading the volatility throughout the entire campaign. The US presidential market is another hugely popular market on Matchbook and has already seen over £50m traded so far and even though we’re down to two candidates now, we expect there to be significant trading on that between now and the election.
How about mobile betting – how can customers bet on the go with you?
A whole host of new features have been added to the iPhone, Android and iPad apps since we last spoke as well as the addition of our Knowledge Base to the iPhone app, and we believe the suite of mobile products is one of the strongest in the industry.
I have also been very impressed by the articles you have published this year via your ‘Knowledge Base’ – it seems you are one of the few companies in the betting industry keen to genuinely help educate punters to improve their betting and not just after ‘mug money’. Can you explain what you can find via the Knowledge Base and why you have chosen to offer this?
Matchbook is a betting exchange, therefore the fundamental difference between us and a Sportsbook is that when you bet with us, you’re not betting against us. With that in mind, we thought it was time that bettors had an area where they could learn and expand their knowledge of betting while they were doing it. We want users to have the most positive experience they can on Matchbook and so when they win, we do too! Betting with an exchange gives many advantages over a traditional bookmaker but we’re also conscious that it can be daunting for some first time users. The Knowledge Base has articles to take that first time user through the basics, right up to helping the more advanced users to maximise their profits on the exchange.
Last year also saw your very first Matchbook Traders Conference, which by all accounts was very well received. Will it be running again this year and if so, what can you reveal about its return?
We were overwhelmed by the demand for last year’s event – it sold out in less than three weeks and pushed the venue’s capacity to its limits.
Building on the success of last year, we’ve incorporated a lot of the feedback we received last year, to build an even better event. The 2nd Matchbook Traders Conference will feature fewer speakers, allowing for more time for Q&A, and be hosted at a venue where networking can be done away from the sessions, so to avoid any noise disruptions.
There’s much more in store for the next Traders Conference and we’ll be making a full announcement in the coming weeks.
Finally – what else can we expect to see from Matchbook in the future? Any exciting developments or plans you can reveal at this time?
We’re always looking to improve our product and so you can certainly expect a whole host of new features. This time last year we had no Horse Racing or Knowledge Base, so lots can change in a year! Keep an eye out for Cash Out, multiples, betting podcasts, and more informative and customised Knowledge Base material.
More On The Best Firms To Bet With
One very effective way of improving your profits is the simple act of betting in the right place.
Different exchanges and bookmakers offer value across different sports and markets and understanding where and when you need to bet can make a huge impact.
All of which forms part of our remit here at the Smart Betting Club as we identify for our members just where they should bet and why.
The above feature and interview with Matchbook is a short sample of what you can find in our recently released Essential Football Betting Compendium.
In Part 6 of the Compendium, we also tackle 3 other ‘pro punter’ exchanges and brokers that you need to know about.
You access all of this in full the instant you subscribe to the Smart Betting Club.
