Mansion exchange question

Mudcat · 08-10-2005, 10:49 AM

As of yesterday they changed the rules of the exchange as follows:

Pay no fees when you "sell"* on MANSION Sports Exchange - 0%
Pay only 1% of the win amount when you "buy"**.

No big complaints from me. Obviously I would like everything in life to be free but it had to happen some time. 1% was the best I could have hoped for. Only time will tell if it increases.

My question is regarding calculating the "to win" amount of a bet.

It looked to me yesterday like they were actually showing you the to win with the 1% subtracted while in the confirmation screen (which would be very good IMO). It's a little tricky to tell because Mansion is always rounding things off (due to odds and currency conversions I believe).

I'll pay closer attention today - but I'm just wondering if anyone knows.

LGBoots · 08-10-2005, 12:17 PM

Don't think so, at least my bet yesterday was not shown with Com deducted.

I hope the Mansion Exchange does succeed, but prices were poor yesterday & volumes on offer well down.

Mudcat · 08-10-2005, 12:32 PM

I actually found a lot of good deals on MLB at the MansX yesterday.

Nothing so far today though. But I'm on the lookout.

Bill Dozer · 08-10-2005, 02:07 PM

LG,

The "exchange" serves as a high limit reduced juice sportsbook. Players going in there thinking they will find the gems that come with direct p2p wagering may be disappointed. The layout offers the house a more manageable sportsbook without having to manage individual players. They don't have to worry about steam betting on their discounted prices.

Jenx · 08-10-2005, 03:52 PM

Bill is right, the exchange is seeded by Mansion themselves, but, they have in the past, and I hope that they continue to manage it badly. There were numerous opportunities in the past to arb (scalp) between the sportsbook and the exchange. I hope they make it too, my income will be reduced without them. I notice the maximums are reduced at Pinnacle (tennis and golf) I wonder if Mansion is having an impact on the mighty Pinn.

raiders72001 · 08-10-2005, 04:14 PM

To convert 1% fee. Courtesy of CompBob

Quote:

Equations for a 1% fee only on amount won:

+ML: BE = 1/(1+0.99ml)
-ML: BE = 1/(1-0.99/ml)

+150 translates to +148.51
-110 translates to -111.11
-250 translates to -252.52
-180 translates to -181.80

LGBoots · 08-11-2005, 08:38 AM

Going to take a lot of seeding for them to suceed!

Hope they do make it though as their customer service is 'top notch'

I think switching so suddenly was a mistake, they should have given at least a week or so notice before making such a drastic change.

slash · 08-11-2005, 09:56 AM

Mansion should have started charging commission a long long time ago. It wouldn't have made much difference with the fantastic lines they were offering in the exchange. Instead they decide to basically close the sportsbook, start charging commission and make the lines less favorable in the exchange on the same day...

raiders72001 · 08-11-2005, 11:04 AM

Previously Mansion had great lines in the sportsbook. The vig was reduced and lines unique. Players were beating up on the sportsbook. Also Mansion was putting up some decent numbers for players on the exchange and charged NO fees. It seems to me that they wanted to build a customer base knowing full well that they wanted to move all wagers to the exchange. There is absolutely no value in the sportsbook as the vig is ridiculous and volume and value is down in the exchange.

slash · 08-11-2005, 11:24 AM

The lines in the sportsbook were worhtless compared to the lines in the exchange. Trust me. And you could get down way way more in the exchange than in the book.

LGBoots · 08-11-2005, 11:26 AM

Seems a strange way of doing business. If I were Mansion I would be 'Flooding' the Exchange with 'Seed' trades to make sure that their new charging 'model' got off to a flying start.

Instead they seem to have done the exact opposite! If they want to compete with the likes of Betfair then they are just going to have to accept losses for a while longer until they build up a loyal punter membership who feel they can trust the exchange.

Take Premiership soccer for an example. With Betfair the spreads on games are usually just one 'tick'. Mansion are going to have to offer similar with MLB + other sports or (IMO) they will not get the Share of the market they need to 'grow' the exchange.

raiders72001 · 08-11-2005, 11:53 AM

Quote:

The lines in the sportsbook were worhtless compared to the lines in the exchange

I'm not sure if you played college football but I'd have to disagee.