Matchbook Fees

thing85 · #1 10-07-2006, 05:20 PM

Okay, I'm trying to figure something out. I just placed an arb using Matchbook (and SIA, but that part doesn't matter) of about 1.7%.

I just realized that Matchbook charged a 2.9% fee on my NETeller deposit ($14.50 on a deposit of $500) with a note, "to be applied as Commission Credits." I'm just trying to figure out how all of this affects my arbing when I use Matchbook.

If there's a 2.9% fee on Matchbook, does that mean I need at least a 1.45% arb when using Matchbook (since the 2.9% fee is only on one side of the arb)?

If anyone can help me make some sense of this, I'd appreciate it.

Thanks.

sfwusc · #2 10-07-2006, 06:52 PM

So you have $14.50 in commission credits.

That will allow you to make $750 in wagers commission free.

14.50/.02=750

I think that is how it works. You made a $500 in wagers so far, so that first bet should have been commission free.

-SFWUSC

sfwusc · #3 10-07-2006, 06:59 PM

Do they have a sign up bonus or anything?

-SFWUSC

thing85 · #4 10-07-2006, 09:38 PM

I didn't notice any sign up bonus.

Just so I can make sure I'm not losing money on an arb:

Would this 2% fee by Matchbook essentially turn a +111 bet into a +109 bet?

thing85 · #5 10-08-2006, 11:31 AM

Anyone?....Bueller?

beetman · #6 10-08-2006, 11:55 AM

It would turn a +111 bet into a +108.78 bet, actually. Multiply the payout by .98 to get the true odds after the fees.

thing85 · #7 10-08-2006, 01:00 PM

The fee is on the bet, not the payout though, right?

For example:

If the bet is +111, normally you are betting $100 to win $111. If the bet is on Matchbook, you are betting $100 to win 111-(.02*100)= $109.

Isn't this the same as betting $100 to win $109 when it's a +109 bet?

So essentially, the +111 bet is a +109 bet. Please correct me if I'm wrong...I'm not understanding why it would be +108.78 instead of +109.

4Tay · #8 12-12-2006, 03:15 PM

You got your math wrong. Since you're betting $100 to win $111 profit, on Matchbook you are betting $100 to win $111-(.02*$111)= $108.78

beetman · #9 12-12-2006, 06:02 PM

I didn't notice your post until now when 4tay replied, but 4tay is correct, the fee is applied to the payout amount, not the bet amount.

If the fee applied to the bet amount, people betting moneyline favorites would pay proportionally too much and people betting moneyline underdogs would pay proportionally too little.

hackermike · #10 12-12-2006, 06:14 PM

when you sign up at matchbook and deposit over $1000 for your 1st deposit they give you 2 weeks without commission. THIS IS HUGE, espessially if you are arbing. matchbook often has the best numbers, but when you add in the commish it is the same number as pinny. having no commission for 2 weeks is the greatest thing ever. when you do arbs and are paying commission you have to remember to take $10 per $500 won, $20 per $1000 won and so on. i still use matchbook as my primary sharp book for arbing, since i like thier software, unlimited free payouts, and good lines.