Discover one of the best places to bet and pay less commission with our detailed examination of the Matchbook betting exchange.
This article is taken directly from the recently released ‘Betting Exchange, Bookmaker & Bet Broker Guide’ where Matchbook are just 1 of the 6 firms recommended to help shrewd punters make more money.
SBC EXCHANGE, BOOKMAKER & BET BROKER GUIDE EXTRACT:
In Brief: The Matchbook exchange is another must-have betting account for any punter. Offering low commission rates, excellent liquidity and a genuine alternative for punters unable to hold accounts with the likes of Pinnacle Sports.
The SBC View: We highly recommend all punters open accounts with the exchange – Matchbook, who offer extremely competitive odds and low commission rates for those of you betting on the likes of Horse Racing, Football, Tennis and all the major USA based sports
If you haven’t got a Matchbook account yet and you bet on any of these sports, it’s imperative you open one and start to use them for your bet placement. Especially given the fact that all new Matchbook customers can enjoy low commission rates on ALL markets. Compared to the 5% commission base rate that their main rival – Betfair offers, its easy to see why they are so highly thought of right now.
Football is the main sport for trading on Matchbook, yet we have seen significant growth in other sports such as Horse Racing and Golf in recent times. The markets for both these sports plus all the major US offerings: NBA, NFL, MLB & NHL offer competitive odds, often at similar odds you will see over in Asia. Compare the odds on offer from the likes of Pinnacle Sports with Matchbook and you will see they are very closely matched even after commission.
Horse racing is also now a major market for Matchbook customers, which is all the more impressive considering it was first introduced back in July 2016. They now offer competitive odds for both win and place betting in each UK and Ireland race at their low commission rates including growing liquidity for in-play traders.
There is however, one fundamental difference between Matchbook and their competitors that it is wise to be aware of. Whereas they only charge commission on winnings, Matchbook take a (smaller) commission on all bets, regardless of whether the bet wins or loses. This is because Matchbook operates a “per transaction revenue model”, identical to many financial exchanges.
A detailed explanation on this can be found here but in summary, it depends on the amount you trade and your location as the commission rate will vary with the base rate starting at 1.5% and rising to 1.75% if located in the UK or Ireland and accepting an existing bet. For those of you happy to post an offer for a bet, this reduces significantly to 0.75% (standard) and 0.85% (UK/Ireland).
Handily, Matchbook also features on two of the most popular odds comparison websites – Oddsportal and Oddschecker, allowing you to compare their odds (with the option to add in your commission rate on Oddsportal to get the true odds) across several major sports.
We have also been impressed by the ‘Insight’ section of the Matchbook website now available, which features links to podcasts, tips, advice and education on how to bet. Completely free to access, you can find some excellent content and guidance from several big name and most importantly of all, clued up punters.
Positives: Large number of markets/sports available. Very strong Football & Horse racing markets now offering very competitive odds. Similarly, strong odds on Golf, Tennis & US sports. Excellent ‘insight’ section full of advice for gamblers. Included on Oddschecker and Oddsportal. Lower commission rates for those posting odds.
Negatives: Commission charge on stake of losing bets with different rates per country. Some customers need to pay a withdrawal fee. In-play markets still developing.
Recommended For: All punters – another must-have account.
OUR INTERVIEW WITH MATCHBOOK
To understand more about the Matchbook service, they were also good enough to answer a series of our questions in this exclusive interview….
SBC: For those unfamiliar, can you outline how Matchbook works and what it offers customers?
Matchbook is designed for smart bettors who want more value. At Matchbook we offer deep liquidity in a whole range of sports and low commissions.
What are the advantages of betting through Matchbook compared to other exchanges or traditional bookmakers?
While you bet against the ‘bookie’ with a Sportsbook, at Matchbook you go head-to-head with fellow bettors. This means better odds across a whole range of sports and a betting site that is open to winners. While many of the big sportsbooks are in the habit of restricting winning players, at Matchbook we welcome them.
What are the main markets and sports you offer and see the most trading on?
Football Betting is consistently our top traded sport and the FIFA World Cup was a huge success with £260 million traded throughout the tournament.
Focusing on football for a minute – how do your odds compare with those from the big Asian firms in the main 1X2, Over/Under and Asian Handicap markets?
We are consistently best priced on numerous Asian handicaps and Asian goal markets. On the Matchbook Betting Podcast our panelists regularly highlight the advantages of Asian handicaps minimising risks by halving your stakes on 2.0 and 2.5 for example. One of our key objectives is to provide our customers with content that enables them to become smarter bettors and we do this through the Matchbook Podcast and insights.matchbook.com.
Moving onto Horse Racing, it’s now been 2 years since you first introduced racing markets on Matchbook. How have these markets developed during this time?
We have made great strides with our Horse Racing product in recent times. While there’s always room for improvement, Matchbook customers can get substantial amounts matched on selections even a couple of hours before the off of each race. The needle may move a bit slower in the early morning but take a look as the day progresses and you can really see the action heating up.
What about in-play and live betting on sports like football and racing. Can you outline what you offer and the volume of money traded on Matchbook these days?
With football we have seen an uptick in in-play wagering and the vast majority of pre match markets are also offered in running which is ideal for any customers who are looking to trade out of their positions.
In play Horse Racing only launched this year prior to Cheltenham and while it started slowly we have seen a gradual uptick on customers getting involved in these markets. Flat racing is always a tougher proposition to trade in running but come the National Hunt season we would expect a lot more customers to get involved.
I understand Golf betting is a keen area of growth on Matchbook with a large array of tournament matchups now covered. How has betting on this sport grown on Matchbook recently?
Golf betting is now consistently in our top five traded sports and it’s not just when the majors roll around either. Tournament matchups, as you mentioned, cannot be found at any other exchange or sportsbook in this part of the world and we have seen from our customers reaction that there is a real appetite for these markets. We have Ollie Noonan (aka @fairwaywedge on twitter) on the Matchbook Podcast with us every Tuesday to preview these matchups and we’ve most definitely highlighted markets that may have been missed by many bettors in the past.
Are there any other new markets or innovations introduced over the past year to be aware of?
In running Horse Racing generally was a huge addition for us. That launched at a similar time to the 0% on Racing offer so it was a real fillip to our product and allowed customers to manage their position once the race was off. We have a few more exciting Horse Racing features to follow in the coming weeks and months so watch this space on that one.
One of our key motivations is a focus on customer service, which is our differentiating factor. We want to be the exchange that makes the difference, if you experience a problem or have a suggestion as to how we can improve the customer experience we want to know and have a dedicated team focussed on engaging with and sorting any issues for customers.
Can you explain the commission fees for using Matchbook and how they work?
There is no question we offer the lowest commission in the exchange market on Horse Racing with a 1.5% net win rate and as we head towards the end of the flat and into the National Hunt season we’re really excited with the level of activity on site.
In other sports Matchbook has two different commission rates of either 1.5% or 0.75% on all trades, depending on whether you accept another user’s offer or whether they accept your offer.
If you accept an existing offer in a market the standard commission rate is 1.5%. If you post an offer, which another user then matches, the standard commission rate will be 0.75%.
I understand the fees change slightly for UK and Ireland customers – can you outline how and why?
Since 2015 laws in both Britain and Ireland Matchbook is required to pay an additional 15% tax on all betting exchange commission payments received from its customers to the respective governments. Customers residing in the UK and the Republic of Ireland will be charged a portion of the Point of Consumption taxes. So if you accept an existing offer in a market the standard commission rate will be 1.7%. If you post an offer, which another user then matches, the standard commission rate will be 0.85%. If you are betting on Horse Racing which is 1.5% Net Win commission, the standard commission rate will be 1.7%.
GET THE LOWDOWN ON THE BEST PLACES TO BET
If you are keen on learning more about Matchbook and the 5 other firms included within this guide, make sure you grab a copy of it right away.
All 6 firms in the guide also welcome winners as they make their profit either based on betting turnover or the commission they charge you on each bet. So, whether you win (or lose) they will never ban you from their service – unlike so many ‘major firms’.
Offering solutions for punters on all sports including but not limited to Horse Racing, Football, Golf, Tennis and all major US Sports like NBA or NFL, this guide will help show you the best firms to bet with to make long-term sustainable profits.
As soon as you join the Smart Betting Club, you can download your very own copy of the guide and start placing your bets where the professionals do.
Best of all if joining right now, you can also save up to a whopping £45 on the usual cost of an SBC membership.
This is because we have slashed the price of joining to ensure as many people as possible have access to our reports, magazines and guides.