Matchbook is coming up on the rails as a credible alternative to Betfair as a betting exchange.
There are only four betting exchanges in the UK so why should you use Matchbook over the established competition?
As the sun was out, for this Matchbook betting exchange review we trotted off for another day at Sandown Racecourse. And there is a new kid muscling in on Bet365 for sponsorship in the form of the final in the big four of betting exchanges: Matchbook.
Matchbook Exchange Review
I remember when Matchbook started no-one really took seriously. But now it appears to have been taken over by some proper investor types who want to compete with the likes of the two established betting exchanges Betfair and Betdaq, as well as pummel Smarkets, the other growing betting exchange that came on the scenes with a discounted commission.
For newcomers to the site, a betting exchange differs from classic bookies in one major fundamental way: in a betting exchange, you bet against other bettors rather than the bookie. Bookies give you the odds they are prepared to risk, plus their margin, which could go as high as 20%. The odds in a betting exchange are less rigid and you could potentially win more. The betting exchanges make their money by charging a percentage, like the bookies, but their margins are much lower.
Matchbook Exchange Signup Offer
Matchbook already competes with the other exchanges by keeping its commission low, but their new promotion offers all customers an industry-low commission rate of 2%. While this might not sound immediately impressive, if you place £100 on a winning bet at an odds of 2.0 this means your profit will be £100 x 2% = £98. The only downside to this Matchbook offer is that it’s limited to horse racing only. To be eligible for this offer, you need to access the Matchbook markets directly through its website or mobile app, not an API or trading software. From what we can tell by checking the terms and conditions for this offer, you don’t need to use a bonus code to access the offer. Simply sign up and start taking advantage of Matchbook’s generous low commission rate.
Aside from the welcome offers, Matchbook offers a number of other casino promotions. In the Starburst Promotion, you can “Pay 100 Get 130”, and with the Jackpot Bonus, you can Pay 20 and get 30 to play on the Divine Fortune slot. There is a Twin Spin promotion, where you play 25 and get 40 plus 10 Bonus Spins on the Twin Spin slot, as well as quite a few other promotions that are linked to particular slots. There is even a Live Dealer bonus, where you can get a 25% match up to 400. It is well worth the effort to browse around the bonus section to see what offers you can claim.
Matchbook Free Bets
If you love reputable betting exchanges and free bets to boot, you’re going to love Matchbook.
About The Matchbook Free Bet – £10 Risk-Free
When you open a new Matchbook account, and if your first bet loses, the exchange will refund your stake up to as much as £10 in cash. The offer is only valid for players who make deposits with Visa or Mastercard and refunds are paid out within 72 hours.
All you have to do is go through the Matchbook registration process, make a deposit and place back or lay bets at any available odds on any betting market to get your £10 free bet!
Matchbook is a betting exchange that offers punters the chance to place back and lay bets on all your favourite sports markets. The site has been in operation since 2004 and has become one of the biggest and best exchanges around.
Matchbook offers punters highly competitive standard commission rates and superior liquidity. Best of all, approved withdrawals take a matter of hours.
How To Claim Your Free Bet from Matchbook
Here’s how to claim your £10 risk-free bet welcome offer from Matchbook:
- Head over to Matchbook and sign up for a new account
- Complete the registration account – no promo code needed
- Verify your account and make a deposit
- Place your bets
- If your bet loses, the exchange refunds your stake up a maximum amount of £10
Terms and Conditions You Need to Know
There are several terms and conditions you need to know about when it comes to free bets at Matchbook, whether it’s for the signup bonus or any other free bet offers. Here are the most important points:
- Only customers who open a new Matchbook account qualify for the free bet offer
- You need to create a new account and make a deposit, as well as place your first bet on any market on the site
- The promotion only applies to your very first bet that is placed and matched
- You must place your qualifying bet within seven days of signing up
- Should your first bet be a Void or Push bet, you won’t qualify for the refund
- If you make your first deposit by Paysafecard, Neteller or Skrill, you won’t qualify for the free bet promotion
Matchbook is striving to be competitive in a very tough market by charging extremely low commission rates. Their rate for Accepted Odds betting is a mere 1.5%, and if you post your own offer, the Posted Odds rate is 0.75%. Bear in mind that if you are a new player and sign up before the end of 2018, the Matchbook zero commission offer will come into play, and you will not pay even these low rates if you are eligible for the welcome offer.
Matchbook Betting Exchange Markets
The Matchbook betting markets cover all the major sports. Matchbook claims it is the fastest-growing betting exchange, and it shows by its ever-expanding market selection. You can find very competitive odds on a variety of markets including:
For the smart bettors, an exchange with the flexibility to offer the best odds on main sports like football will end up being the most profitable. Matchbook had shown its liquidity when it comes to real-time betting in the core sports markets, so if you have the expertise to make pinpoint predictions, you will find some of the best odds at Matchbook to back your knowledge. We published an article on how Matchbook uses this liquidity to give you a better betting experience not long ago – you can read it here if you would like some more detail.
If you’re an NFL fan, then Matchbook’s famous liquidity will work well in your favour. Matchbook offers a huge range of handicap and total spreads, and arguably the best odds you will find online for the playoffs as well as regular games.
Matchbook, the growing betting exchange is sponsoring the ponies now
Matchbook horse racing
Horse racing is a recent addition to Matchbook’s market offering. At the moment, you can bet on horse races in the UK, Ireland and South Africa. The Exchange does offer some big race events from France, USA, UAE and Australia, and are planning to widen their international selection further in the near future. Only UK races are available for live betting currently, but Matchbook is planning to add Irish in-racing functionality soon.
New to Matchbook is the hugely popular accumulator for exchange players. Now you can build that life-changing accumulator on Soccer, Horse Racing, Tennis, American Football, and other sports throughout Matchbooks exchange interface.
Matchbook horse racing commission
The standard Matchbook commission of 2% for Accepted Odds. You can Back or Lay, but only Win or Place markets are available at the moment. To bet on horse racing at Matchbook, you’ll need to transfer money into your horse racing wallet from your sports wallet. Matchbook is constantly adding to its market types, so more horse racing options should be available soon.
If you’re looking for a space to play while waiting for the next sporting event, browse through the Matchbook casino section. Although it doesn’t offer the thousands of games that you see in some online casinos, it does have a fair selection of all the game types that make up a full casino. There are lots of varying themes and jackpot sizes, as well as a few video game options. In the table game section, you will find roulette and blackjack games, baccarat, and several different types of poker. There’s also Sic Bo and Craps for players who prefer dice to cards.
If you prefer some human interaction when you play table games, head over to Matchbook’s Live Dealer section. Matchbook offers live blackjack, baccarat, roulette and poker, powered by a combination of Evolution and NetEnt software. Matchbook’s casino offering is not extravagant, but it does have everything you need.
Matchbook Apps and Mobile
If you play on your mobile, then the most convenient way to access Matchbook’s markets is by using their apps. You need to have your Location Services switched on when using your Matchbook Exchange app because they are location-sensitive and cannot be accessed from certain regions.
Matchbook has several different app options:
• Matchbook UK and Ireland – Android App
• Matchbook for Android – Other Regions
• Matchbook for iPhone
• Matchbook for iPad
The Mobile Applications page on the Matchbook website has convenient links to all the stores.
Deposits and Withdrawals
Matchbook’s funding process is relatively easy and straightforward. Simply click on Deposit at the top right of your screen after you have logged in to your account, and you will be presented with the payment options available. You can use Visa and Mastercard, Neteller, Paysafecard or Skrill to make a deposit. If you can’t see the deposit page at all, try disabling your ad blockers, as Matchbook has found that these can sometimes interfere with the page display.
Matchbook has a “closed loop” policy when it comes to making withdrawals. What this means is that you need to withdraw your money into the account you used to deposit it.
However, if you choose to make a deposit using Paysafecard, bear in mind that you can’t make a withdrawal using the same method. You can withdraw with Visa or Mastercard credit/debit card, Skrill or Neteller. You can also withdraw directly from your bank account, but some restrictions do apply. The minimum amount you can withdraw directly to your bank account is $/€/£500, and you will have to pay a fee of $/€/£35.
Withdrawals are free most of the time, but Matchbook does reserve the right to charge for your withdrawal or enforce roll-over if the commission on your betting activity does not cover the cost of your deposit and withdrawal transactions.
The Matchbook website does have a fairly comprehensive FAQ section, but if you need any further assistance, you can contact Matchbook in three different ways:
• Live Chat – login to your account and launch the Chat
• Telephone – use (+44) 203 642 6867 if you are calling from the UK and (+353) 21 242 8626 from the Republic of Ireland
• Email – [email protected]
Is trying to win business on cost enough for a new betting exchange?
When we first looked at Smarkets as a viable alternative to Betfair it seemed like a good choice because they were offering discounted commissions of 2% rather than Betfair’s 5%. If you were a trader or an arbitrager or playing about with matched betting then this was quite appealing.
But is trying to win business on cost really enough for a new betting exchange? Probably not. The difference between 1.5% and 2% is negligible, and for Matchbook to become the leading betting exchange they need to 3.33x more business than Betfair as opposed to Smarkets which only needs to process 2.5x the bet values. But that’s pretty boring and with the “gamtech innovation revolution” as we like to call it the fixed costs of running Smarkets and Matchbook should be lower than Betfair. After all Betfair pioneered and leads the industry and as a result, must bear the development and innovation costs for new companies to copy and follow.
There is nothing wrong with discounted commission though. Gamtech & fintech are lowing the cost for consumers (gamblers) so it is possible for them to win more money by getting betting odds with lower commissions.
A race to the bottom when it comes to commission is already happening across the financial services industry and there is a problem. Everyone is going out of business because they are not making enough money to pay for advertising to get new customers because there are now so many new brands starting up every day.
In theory, it costs nothing to do business if you put the right technology in place with the right partners. So the brand with the biggest marketing budget who can afford to lose the most money when client grabbing will lead the industry.
I still like Betfair’s steadfast approach to high commission levels. They are the John Lewis of the gambling world if you will. They simply say we are the best and it will cost you more to do business with us. Which is fine for somethings, but when you come down to the dirty business of winning money off people you want to get as much as you can!
So how can Matchbook compete with the bigger betting exchanges if a race to the bottom on pricing isn’t going to cut it?
- They can offer a better sign up bonus for new customers. Matchbook is currently offering the lowest commission on Horse Racing.
- They can offer multi-currency accounts. Matchbook currently offers more currencies to bet in than any other exchange.
- They can offer better user experience and match liquidity and markets. Matchbook currently offers more peripheral markets thanks to its global client base.
Matchbook – Latest Promotions Review
The internet and especially online sports betting have taken the world by storm. Betting exchanges have grown in popularity, and Matchbook offers some of the lowest commission rates around.
If you’re bored or frustrated with heavily used betting exchanges, or you really don’t love commission penalties, it’s time to open a Matchbook account and take advantage of the latest Matchbook promotions.
Matchbook Opening Offer – £10 Risk-Free Bet
Firstly, Matchbook is offering all new customers a £10 risk-free bet. All you have to do is open a new Matchbook account and place bets on the exchange just as you normally would. If your bet loses, the site will refund your stake up to a maximum of £10 – no bonus code needed!
Tons More Matchbook Promotions
This year, Matchbook has a whole bunch of promotions ready and waiting to enhance your online sports betting experience. Once you’ve used up your sign up free bet, you can take advantage of even more fantastic online betting promotions.
At the time of our review, here’s what the exchange has to offer:
- Horse Racing Promo
If you love a flutter on the ponies, you’re going to enjoy this one. Matchbook is offering an industry-low commission rate of just 1.5% Net Win on the sport. All you have to do is place bets on the horse racing markets and you’ll only pay a commission if you turn a profit.
Matchbook Casino Bonus
While Matchbook is predominantly a betting exchange, it also has an online casino ready and waiting to welcome you with open arms and a generous bonus. Sign up to the Matchbook casino today and get a 100% match deposit bonus up to £100 and 100 wager-free spins.
Get your promo code for this one!
The casino bonus requires you to roll over the bonus and your buy-in 30x.
You’ll find all of Matchbook’s bonuses and promotions terms and conditions on the site.
Open a Matchbook Account Today
When you join Matchbook, make sure you use the necessary promo links and bonus codes to ensure you qualify for the bonuses you fancy.
Check out our step by step guide on how to open a Matchbook account today!
Matchbook – How to Open An Account
- Join Matchbook
- Complete the 3-step registration process
- Verify your account
If you’re looking for a betting exchange with excellent commissions, free bets, ongoing promotions, and an ultra-fast sign-up process, it’s time to consider Matchbook.
How To Open a Matchbook Account
Step 1 – Join Matchbook
Head to the Matchbook homepage and click the Join Matchbook red button in the top right-hand corner of the screen.
Step 2 – Complete the Registration Form
Enter your personal information, including:
- Email address
- Bonus code
- Phone number
Click Next Step.
Step Three – Enter Your Personal Details
Enter your personal details, including:
- First name
- Last name
- Date of birth
- Security question and answer
Click Next Step
Step 4 – Enter Your Address Details
Enter your address details, including:
- Check the box if you want to receive all the latest offers and promotions.
Click Create Account.
How To Make a Matchbook Deposit
Once you’ve completed the registration process, it’s time to deposit funds into your new Matchbook account. You’ll get to choose your currency of choice and make your first deposit at this stage.
The site offers plenty of deposit methods, including e-wallet, bank transfer, debit, and credit cards. It’s free to fund your Matchbook account no matter which payment method you choose and the minimum deposit amount is just £5.
To take advantage of the sign up offer, you need to make your first deposit with a credit or debit card.
How to Verify Your Matchbook Account
An important step upon opening a new account at Matchbook is to verify your account. Most betting exchanges and sportsbooks don’t let withdraw funds until you’ve been through the verification process.
Once you’ve made your first deposit, you’ll receive an email asking for proof of identity. Forward the document to the email address provided.
You need to provide a piece of photo ID, and it can be one of the following options:
- National ID card
- Driver’s license
- Full passport – make sure the expiration date is visible and the passport is current
You’ll also need to provide a proof of residence, along the lines of:
- Tax bill
- Utility bill
- Driver’s license
- Bank statement
Whichever proof of address you choose, it must not be older than three months.
Your Matchbook account is not verified until you provide the team with the required documents. Until then, your account will be restricted which means you won’t be able to withdraw any funds.
However, once you’ve verified your account you can enjoy full use of your Matchbook account and betting options!