[datek23]

If I place a $5 dollar bet and win and total comes out to $10, How much does Matchbook take out on commisions?

[Jay Edgar]

2% of your net win.

For $5 bet on a +100 proposition, commission would be 2% of the $5.00 win, or $.10. You are laying 5.00 to win 4.90. It's as if you bet it at -102 rather than +100.

[WWTSblows]

To further clarify, its net win per event grouping. So if you took the Super Bowl over +100 and IND -7 +100 and lost one and won one on equal bets, you would pay no commission.

[knicknut]

To further clarify, its net win per event grouping. So if you took the Super Bowl over +100 and IND -7 +100 and lost one and won one on equal bets, you would pay no commission.

No, this is wrong.

Commissions are collected on a "net win per market" basis. A "market" is defined as a single tradable outcome on an event; hence, a single game/event may be linked to two or more individual markets. For commission purposes, net losses in one market on an event do not offset net wins in another market on the same event.

Just want to set the record straight. That's why I'm always disappointed when I see a free side and realize it's 4c more expensive than it looks, even though I'm betting on a spread on the same game both times.

[Jay Edgar]

No, this is wrong.

Just want to set the record straight. That's why I'm always disappointed when I see a free side and realize it's 4c more expensive than it looks, even though I'm betting on a spread on the same game both times.

If we haven't confused you enough, let me correct this slightly -- if the two sides you play are opposing (say Pats +4 and Colts -3.5) it's actually 2 cents more expensive than it reads on the screen (not 4 cents) , because you're only going to be payng that commission one-way: out of the winning amount. Losing bets have no commission deducted.

[knicknut]

I'm inclined to disagree.

Let's say you bet even on both sides. No matter which side wins, you're getting .98 back, not $1, which is the effect of paying -102 on each side. Just because you lose and didn't pay the commission doesn't mean the line isn't theoretically 2c worse.

I mean, if you scalp with it, you lose 2c. If you scalp either side, it's now 4c.

[Jay Edgar]

I'm inclined to disagree.

Let's say you bet even on both sides. No matter which side wins, you're getting .98 back, not $1, which is the effect of paying -102 on each side. Just because you lose and didn't pay the commission doesn't mean the line isn't theoretically 2c worse.

I mean, if you scalp with it, you lose 2c. If you scalp either side, it's now 4c.

Fair enough, but to be consistent we then must characterize the same exercise at 11/10 shops like Greek or CRIS as "costing" 20 cents, not 10 cents.

Bottom line: Matchbook juice is approx 1/5th what it is at the 11/10 shops, and 2/5ths of what it is (was ) at Pinny.

Also, note that Matchbook is wonderful if you can time the dips in price during the day, on both sides of a line, and buy both sides accordingly. Then you can refine your position until you have what you want at much, much better than -102.

(Because remember, when you have both sides of the same proposition -- say Warriors +7 and Lakers -7 -- the 2% commission is only taken on the net win, if any.)

[Ganchrow]

Fair enough, but to be consistent we then must characterize the same exercise at 11/10 shops like Greek or CRIS as "costing" 20 cents, not 10 cents.

It's purely an issue of terminology: CRIS is said to have "20c lines" (meaning -110/-110), Cascade "dime lines" (-105/-105), Pinnacle 8c lines (-104/-104), and by the same token Matchbook, (were you able to bet either side at even odds) would have 4c lines after commissions (actually slightly more than 4c). This corresponds to exactly 1% vig.

In other words, vig on Matchbook's 4c lines equates to 52% of 8c line vig, 42% of dime line vig, and 22% of 20c line vig.

[pags11]

I used to bitch about thes a lot, but with Pinny in the shitter, matchbook has saved my ass...

[WWTSblows]

Thanks Knick, I'm new to MB and swore I read 'net win per market'. I must have been confused when I read through it last week. I'm still on the 2 weeks free special, I probably saved 300-400 bucks on fees by getting that.

[knicknut]

Yeah, the two weeks was great. Wish I'd been a bigger player then (or had it post-Pinnacle!)

Also don't forget that the spread adds in to your theoretical commissions. If both Pnny and MB are centered around the same price (let's say even), and Pinny is -104 on both sides and matchbook's market is -101 on each side (2 cents wide), the effective width of the market is 6c.

It's semantics, yes, but it's part of my academic thesis on sports betting markets, so I have to be interested in them

[Ganchrow]

Thanks Knick, I'm new to MB and swore I read 'net win per market'.

Yes. This is true.

Matchbook charges 2% commission on net winnings in a market.

Matchbook defines a "market" as a particular set of exclusive bets. In other words, Knicks +7 / Bulls and Bulls -7 / Knicks would represent one market (so if you lost $100 on one and made $110 on the other, you'd wind up paying 2% commission on $10 = $0.20), while Knicks +7½ / Bulls and Bulls -7½ / Knicks would represent another (so if you won $100 on Bulls -7½ / Knicks and lost $110 on Knicks +7, you'd wind up paying 2% commission on $100 = $2.00).

[Korchnoi]

Yeah, the two weeks was great. Wish I'd been a bigger player then (or had it post-Pinnacle!)

Also don't forget that the spread adds in to your theoretical commissions. If both Pnny and MB are centered around the same price (let's say even), and Pinny is -104 on both sides and matchbook's market is -101 on each side (2 cents wide), the effective width of the market is 6c.

It's semantics, yes, but it's part of my academic thesis on sports betting markets, so I have to be interested in them

I'd love to read it when you're done.

[Ganchrow]

Also don't forget that the spread adds in to your theoretical commissions. If both Pnny and MB are centered around the same price (let's say even), and Pinny is -104 on both sides and matchbook's market is -101 on each side (2 cents wide), the effective width of the market is 6c.

Of course In the case of large money lines you could be paying less than 1% vig.

For example, given a market of +1435/-1500, you'd only be paying 0.50% vig after commission. This would be the equivalent of roughly a 2c line set (-101/-101) with no commission.

[knicknut]

I'd love to read it when you're done.

Will do. I'm testing the pricing efficiency/accuracy of exchanges versus sportsbooks (matching up offers versus dealers).

[pags11]

anyone else not get their commission credits deducted today?...

[Arilou]

Yes, some of my bets were not charged. Probably their way of making sure no one got caught holding a position after the blackout.

[pags11]

arilou,

yeah, I guess as a CS gesture to their customers because of all of the hassles the previous two days, they didn't charge people commission credits...