Matchbook is another betting exchange so this review will be a little different than the usual bookmaker review. If you are unaware of what a betting exchange is it site that allows you to gamble with your peers as opposed to a bookie. The main difference is that the market determines the odds one hundred percent of the time.
There will be more than one set of odds that you can take but they will even out to the correct odds in the end. The leading bookies take a lot of notice of what’s going on with the top betting exchanges. Not that long ago there wasn’t much choice but now betting exchanges are very popular and there are several vying for their share of the cash. They work by taking a percentage of money wagered whatever the outcome of an event they earn.
So back to Matchbook they have been around longer than you might think, the exchange started in 2004. A change of ownership in 2011 and an injection of cash saw big improvements. Matchbook like to think they offer the punter something extra so let’s have a look.
A betting exchange without liquidity is not going to attract anyone. This then compounds the problem and the whole thing very soon collapses. Matchbook has a good base of regular customers that put their money where their mouth is. Liquidity is the amount of money available to bet against. There are plenty of markets that get opened on Matchbook and very quickly the prices even out. The main reason that Matchbook is able to keep decent levels of liquidity is that it charges a low commission.
If you posting a price (as in you are one of the early ones determining the odds or you just think differently) then you will only pay 0.75% commission. If you are taking an existing option either laying or backing then you pay 1.5% commission. Matchbook have taken the step of passing on a portion of the government’s new point of consumption tax and now the rates are 1.7% and 0.85%. A huge difference from the main competition with Betfair running at 5% it makes Matchbook very attractive indeed.
Matchbook have come a long way in recent years. When Matchbook first started they were mainly focused on American sports but they have pulled their socks up and the choice is much better these days. Not that long ago you would only have two or three tennis events covered now there is eight at this moment in time. The horse racing is coming on but is still way behind the competition. When it comes to American sports however Matchbook are a match for any. There have been a few glitches along the way with some complaints in forums surrounding the functionality of the site. But we have to say we have no problems the site works well and have had no issues.
The Matchbook bonus is a back scheme on your first five weeks betting. They will credit you with one point for every £1 commission you pay. When you get to 5 points they will convert that into cash in your account. It is converted at a rate of one point to one pound. Over the first five weeks each time you hit 5 points another £5 will be converted and added to your account. You can get up to £50 in the first five weeks credited back to you. As far as the betting exchange goes that’s the promotions but if you play in the casino as well, there are other bonuses available.
There is no Matchbook mobile app so it is a case of logging in from your browser. You get all of the same options as you would on the desktop version. And to be fair the horse racing card looks good on a phone. It’s just it could be better, an awful lot of scrolling goes on and there is nothing to make you go wow. The live in-play offerings are good there are plenty to choose from. The liquidity is still there and as long as you are looking to place huge wagers you will get matched most of the time.
You can have an account in a number of currencies Euro, USD, GBP, AUD, HKD and CAD. Funding your account however is not such a choice Visa, Skrill, Neteller or Paysafecard are the only options. The limited banking options is a big negative for a lot of people. But if it is legal to gamble in your jurisdiction you should be able to use one of these methods.
Matchbook to pride themselves on only taking legal customers but it is your responsibility for abide by your countries laws. Fully licensed and regulated by the UK Gambling Commission for British residents and the Alderney Gambling Control Commission for the rest of the world. There have been some negative comments of late in forums moaning about a lot of unmatched bets and poor liquidity. But Matchbook is up against some stiff competition and has ridden the waves so far. If you are looking at the major events then there is plenty of action.
When you start moving more towards the less known leagues and sports then yes the money is not there. Especially if you want more than standard markets. All in all Matchbook is a good alternative to the big guns. The low rate of commission alone makes them a viable option. They advertise that they welcome bookies betting with them as much as the non pro punter.
Matchbook is not going to bother Betfair anytime soon but it is a decent betting exchange nonetheless.