Keep an eye on your Matchbook account

TomorrowsNewspaper · Apr 8, 2008

I woke up this morning and was missing money from my account. I went into my transactions and at 6am they reversed my ml winner on kansas and reversed my kansas +2 winner also. They actually revered the point spread winner twice! Then a few minutes later they credited both as winners but now I am missing the point spread winner since it was reversed twice.

I called and was put on hold for over 30 minutes. I called back and they are looking into it now.

Scary that they can just go in and change things with no email or notice at all. Luckily I keep pretty close track of my account.

falcon23 · Apr 8, 2008

They probably got hurt on live betting on Kansas late. Anything on the early baseball today? Thx

TomorrowsNewspaper · Apr 8, 2008

They just told me there is a technical difficulty with that game and hopefully it will be resolved in the next couple of hours.
When I asked why I wasnt sent an email or anything when they went in and took money from my account, she just said there were technical difficulties.

Seems like an honest mistake, but needs to be handled more professionally.

eoghater · Apr 8, 2008

"technical difficulty" = the bs phrase used by the support team to cover up a mistake they dont want the public to know.

ensign_lee · Apr 8, 2008

falcon23 said:
They probably got hurt on live betting on Kansas late. Anything on the early baseball today? Thx

There's now way they did. They don't seed their own exchange.

Fishhead · Apr 8, 2008

Where is Jay Cohen at these days?

trytrytry · Apr 8, 2008

i had a total listed as NEGATIVE for awhile this morning! I think they have it right now.

SportSavant · Apr 8, 2008

falcon23 said:
They probably got hurt on live betting on Kansas late. Anything on the early baseball today? Thx

in theory, matchbook is an exchange all they do is match bets so it is impossible for them to "get hurt".

Unless of course they have market makers who lost, but they have claimed in the past that they dont use internal market makers, they do use external market makers by offering them lower Vig.

Fishhead · Apr 8, 2008

SportSavant said:
in theory, matchbook is an exchange all they do is match bets so it is impossible for them to "get hurt".

Unless of course they have market makers who lost, but they have claimed in the past that they dont use internal market makers, they do use external market makers by offering them lower Vig.

Explain this please.....

So they pay an external market maker to post odds?

Isn't that really like having an internal market maker really?

Doug · Apr 8, 2008

Fishhead said:
Explain this please.....

So they pay an external market maker to post odds?

Isn't that really like having an internal market maker really?

They don't pay, they offer them low/ no commission to get things started, and I'm sure they require a lot of offers to be made. You'd probably need 100k+ there to qualify.

easy_money · Apr 8, 2008

lol you guys are dumb... they make money when YOU WIN! lol they dont care who wins the game.. they are just making money off commission.. every game has even money because it is exchange.. you arent betting with matchbook.. you are betting with eachother

SportSavant · Apr 8, 2008

Fishhead said:
Explain this please.....

So they pay an external market maker to post odds?

Isn't that really like having an internal market maker really?

there standard vig is 2%, they offer some people less VIG perhaps 0% or 0.5% or 1%, and these people then set the odds..... In exchange for the reduced VIG, the market makers agree to put up markets to make sure the activity is there.

(Of course I dont work there, so this is not necesarrilly a fact, but this is how I think or assume it works, and I could have sworn I have seen someone from there post it before.)

In essence, in exchange for the 0% vig or reduced vig the market maker agrees to set markets to make sure there is something on the board in the exchanges.

does that make sense?

SportSavant · Apr 8, 2008

lol you guys are dumb...

just becoz someone doesnt understand something, does not make them "dumb".

MrJ · Apr 8, 2008

easy_money said:
lol you guys are dumb... they make money when YOU WIN! lol they dont care who wins the game.. they are just making money off commission.. every game has even money because it is exchange.. you arent betting with matchbook.. you are betting with eachother

English please, and thank you for pointing out the obvious - only one person suggested that Matchbook was "hurt".

TheBigFish · Apr 8, 2008

A few weeks ago I was curious about the market maker process. I got on live chat and asked them about it. Specifically, I asked live chat whether the market makers were employees of MB, or customers like me who had an arrangement with MB to act as market makers. (I was considering asking what the requirements were to be a market maker, and whether I would qualify.) The customer service rep responded that she was unable to give out that information (which makes me wonder if they have internal market makers).

Mindware · Apr 8, 2008

Matchbook's live betting can get fukin crazy at times. I believe i saw KU ML at more than +2000 when they were down 9 with 2 min left.

JohnnyB · Apr 8, 2008

Mindware said:
Matchbook's live betting can get fukin crazy at times. I believe i saw KU ML at more than +2000 when they were down 9 with 2 min left.

Got up to +5000. Thought about taking a piece but of course I didn't as I figured it would just be pissing money away. Fuck.

Woody0 · Apr 8, 2008

Doug said:
You'd probably need 100k+ there to qualify.

...as a market maker, as well as the bot to track Pinny which their baseball offers do.

winbet · Apr 8, 2008

The market makers work for MB as employees, all they do is structure the markets in line with the other Books, its then open to the Public. :drink:

winbet · Apr 8, 2008

Woody0 said:
...as a market maker, as well as the bot to track Pinny which their baseball offers do.

I'm not so sure about that, several times I've had both screens up and the Matchbook price has gone first, a good 20 seconds earlier. There's also a chance the Tail is now wagging the Dog, especially in Baseball where these front line Books are doing nothing more than betting themselves. If Pinny could guarantee moving the price on Matchbook they wouldnt have to lay any Bets to the Public, just scalp Matchbook. :drink: