Posted:
#1
These guys say they are better than Betfair.
'Our commission is 1%. Betfair charges you 5%'
What I found out today is that while Matchbook is indispensable for pregame wagers, live betting is an entirely different story.
Reason:
They charge 1% ON EVERY bet you place, including hedges.
I've placed multiple bets, pregame and in-play, in Costa Rica vs England. My trading profit was $170 (if England scored in the final minutes I would have lost around $120). My 'settled bets' report said 'STAKE' $1303 - 'NET P&L' $157.
Translation: they charged 1% on every single bet I placed, backing and laying England at various times at various prices.
The reason I'm surprised and a little upset (that I won't be able to do this at matchbook anymore - unless/until they change their commission structure) is that at Betfair I could win exactly the same amount - liquidity there is always better and lines just as tight - but they would only charge me 5% on my Profit and Loss (P&L).
Matchbook $13.60 in fees
Betfair $8.50 in fees
... And also I am not 100% sure but it's possible I don't pay *any* commission on my lost bets. So if England does win and I lose, it's $13.60 charged by matchbook, for a total loss of -$133.60 (120+13.60) and ZERO charged by betfair.
If you have any experience trading (pregame and in play) with either book, I'd love some feedback here.
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