Matchbook - Strange deposit rules

parlayin · Sep 21, 2007

I deposited $2,500 (max) into Matchbook today via MoneyGram. Not only do they not cover the $9.95 fee that other books do, they also took 3.2% of my deposit ($80) and added it to my commission credits. What do you guys think of this?

Sure, I know the fees are only $10, and also, that if I play enough, I'll get those credits returned to me and you could argue that the amounts are de minimis, but on principle, isn't that a little strange? Don't most books just absorb the 3rd party fees? Some books don't if it's under a certain amount, but I deposited the max - isn't that a good thing? If I were to lose it all before winning, then that would be basically taking $80 away from me that I could never use. This was their explanation, but I dont' really understand.

Katya<TSTAMP (04:21:31 pm) tstamp> : </STRIP_FOR_PLAIN>The reason that we do not return all of the fees, is because we are not a sportsbook but a betting exchange.
<STRIP_FOR_PLAIN>Katya<TSTAMP pm) tstamp (04:22:06> : </STRIP_FOR_PLAIN>our profit margin on games is much lower than sportsbook seeing that we only charge a commision on a net win in a market
<STRIP_FOR_PLAIN>Katya<TSTAMP pm) tstamp (04:22:41> : </STRIP_FOR_PLAIN>when you lose at a sportsbook the book gets your money, when you lose here another customer gets the funds.
<STRIP_FOR_PLAIN><O1190423409><STRIP_FOR_PLAIN>Katya<TSTAMP pm) tstamp (04:27:41> : </STRIP_FOR_PLAIN>On your net win in a market, you are charged 2% commission.
<STRIP_FOR_PLAIN><O1190423409><STRIP_FOR_PLAIN>Katya<TSTAMP pm) tstamp (04:27:55> : </STRIP_FOR_PLAIN>We refund the charge to you by taking the amount of commission owed off your commission credits balance and putting it on your account balance, as cash.
<STRIP_FOR_PLAIN>Katya<TSTAMP pm) tstamp (04:28:17> : </STRIP_FOR_PLAIN>This structure allows us to pay for all your incoming transaction costs, while also NOT imposing fees on outgoing deposits.

Extraordinary_5 · Sep 21, 2007

you will get it back when you win, don't worrry.

SportSavant · Sep 21, 2007

the commission credits are as good as cash, so no worries there, they have always done this.

as for the 9.95 fee, you will get way more than that with the very low juice they offer, its well worth it...

remember, they are not a traditional book, but rather an EXCHANGE, they have to do everything they can to keep commission as low as possible and pass those savings on to customers, there are other exchanges that charge 5% commission while matchbook only charges 2%

Illini · Sep 21, 2007

I don't know why so many people get hung up on this.

archstanton · Sep 22, 2007

Hi,

I'm one of the jerks who has gotten hung up on the "fees" thing. They said that I could have my bank wire the money which they don't charge for. Is that worth it or should I just say frig it and do the moneygram thing.

Doug · Sep 22, 2007

Illini said:
I don't know why so many people get hung up on this.

Because it's a bit different, Matchbook is top shelf, and those that know me, know I am very selective in books I'll use in the post NT era.

Illini · Sep 22, 2007

archstanton said:
Hi,

I'm one of the jerks who has gotten hung up on the "fees" thing. They said that I could have my bank wire the money which they don't charge for. Is that worth it or should I just say frig it and do the moneygram thing.

Doesn't make any difference. They don't charge you fees, really. They deduct your deposit by 3.2%, but they give you commission credits for every penny that they deduct. Matchbook is like a candy store. Simply unbelievable betting options that offer great value. Try it and you'll love it.

parlayin · Sep 22, 2007

Pain in the ass to view their cfb lines. Why cant they just have everything on 1 page? I don't want to click on each game 1 by 1, and I don't know the games by rotation #, so grouping them by that makes little sense. I'm not saying the site doesn't present good value, but the interface could be more user-friendly

Woody0 · Sep 22, 2007

parlayin said:
I deposited $2,500 (max) into Matchbook today via MoneyGram. Not only do they not cover the $9.95 fee that other books do, they also took 3.2% of my deposit ($80) and added it to my commission credits. What do you guys think of this?<strip_for_plain><o1190423409><strip_for_plain></strip_for_plain></o1190423409></strip_for_plain>

You didn't read their rules and don't understand what you are doing.

parlayin said:
Pain in the ass to view their cfb lines. Why cant they just have everything on 1 page? I don't want to click on each game 1 by 1, and I don't know the games by rotation #, so grouping them by that makes little sense. I'm not saying the site doesn't present good value, but the interface could be more user-friendly

All the games are listed on the first page after clicking on NCAA football. If you want to see the odds you can quickly find the game by team name using the search function on your browser.

Glad the odds are not all on one page since that stalls the transfer through the "tubes".