In this article, we will explain how exactly the Matchbook betting exchange work and a few key details you might need to know. Continue reading to find out.
How Does The Matchbook Exchange Work? – Matchbook Exchange Guide
If you are new to the Exchange betting, then this guide will help you understand a few crucial things.
What is an exchange commission?
A commission is what the provider of the exchange charges punters for using it. In the case of Matchbook, charges 2% commission for all the winnings. If you are outside one of the following territories then you will be charged not 2 but 4% commission:
- United Kingdom
- Republic of Ireland
- Channel Island
- Isle of Man
Matchbook used to charge a smaller percent commission on all bets, not just the winnings, but they have followed suit with other bookies so they can challenge the rule of Betfair.
Table of Contents
- 1 How Does The Matchbook Exchange Work? – Matchbook Exchange Guide
- 2 Frequently Asked Questions about the Matchbook Exchange
- 3 Matchbook Exchange – Top Features List
- 4 Our Conclusion: Improvements can be made but it is highly recommended
How to bet on an exchange commission?
Think of the exchange like a stock price market. People post their bets with custom prices and outcomes, and if two or more people bet on the same event with the same prices, then the bet won't fall through. If no one bets on your market the bet will simply stay open until:
- Someone bets on it
- The market closes
- You close the bet yourself
Is there a 0% commission?
Yes, there have been times which the bookie offers 0 commission. For example, a welcome offer might give you the chance to wager with 0% commission for a pre-set period of time currently though the welcome offer is not this.
What is “backing” and “laying”?
On an exchange, you don't bet against the bookie. You choose to bet on whatever you like. For example, you can “back” a horse to win, which means that you are betting on the fact that your horse will finish first. Laying is the opposite. When you backed a horse, another player “lays” against your horse, which means that the other player has bet on the fact your horse will lose.
Frequently Asked Questions about the Matchbook Exchange
Q: Does Matchbook charge a commission on all bet types?
A: No, they don't. For example, the Matchbook doesn't charge a commission on ACCA bets.
Q: How can I confirm my identification?
A: You can provide your driver's license or passport and a photocopy of a bank statement, for instance. You can check the full options on the website.
Q: What is the minimum bet requirement for Football?
A: The minimum bet requirement across all sports and markets is the same – £0.10.
Q: What does and “unmatched bet” mean, and can I get my funds back?
A: An unmatched bet means that no one else bet against your odds, and the bet will stay open until you decide to close it or the market automatically closes. When that happens, you will receive your funds back.
Pros and Cons
In the table below, you will find all the positives and negatives of the Matchbook betting exchange.
Matchbook Exchange – Top Features List
Cash Out is a common feature nowadays. If a bookie doesn't offer this feature, then it’s probably pretty low on the so-called ladder. The Cash Out feature allows you to control your bets better. For example, if you see that a match isn't going well for the team you bet on, you can use the feature to “cut your losses” earlier. Another situation in which you can use the feature is if let's say you bet on the favorite team to win, but the score isn't specific, and the underdog keeps pushing. In this situation, you can use the feature to confirm your current winnings and not risk your bet losing. Not all bets have the Cash Out option available. To sure check out the details of the event to be sure you can use Cash Out before rushing to place a bet.
If you are tired of sitting on a desktop while you wager, then this Matchbook exchange review of the mobile application is the perfect reason for you to download it.
The app is available for both iOS and Android, and you don't have to search for if you want to get it. All you have to do is go to the Matchbook exchange site, choose which app you wish to understand and follow the instructions on how to download it. There are some problems with the iOS version, though, and Matchbook has prepared for it. They are listed on the same page as the mobile downloads.
The app itself is doing much better after the latest upgrade. It used to be slow, and the loading times were literally “hell.” After the latest tweak from Matchbook, it is doing so much better.
Our Conclusion: Improvements can be made but it is highly recommended
Matchbook has a lot to do if they want to become the top bookmaker, but they have a chance. When they raised the commission and “leveled” with competing bookies, they have started to set their marks on a top exchange title.
Unfortunately, a setback they haven't upgraded yet is the live-streaming feature. Other exchanges give us the ability to watch the events as they unfold and wait for the result. It will be a good idea to introduce this to their website. It will help them rise.
Their mobile app is okay, and while it doesn't have problems anymore, it still needs a trendier touch. After the failed launch, they need something big to make users forget and want to play on it.
As a whole, the Matchbook exchange is doing good for themselves. They are slowly trying to make changes and go on their path to the top. They still have a long way to go for that, but we will observe their progress with interest and report back to you guys.