Matchbook Betting Exchange
Betting exchanges are a hard industry to crack. To prove that, there are only four competitors in the marketplace. Betfair, Smarkets, Betdaq and Matchbook. All have their own benefits and drawbacks. In this Matchbook review, we’ll cover the key areas to consider when choosing a betting exchange and find out whether they are a good option for matched betting.
Matchbook was founded back in 2004 by a group of professional sports bettors and investors. Much like Betfair, they had one goal; to remove the need for traditional bookmakers.
Over the years, Matchbook have struggled to remain competitive in what is an incredibly challenging industry, dominated by one giant company; Betfair. Betfair have maintained over 90% market share in the time they’ve been running. In 2011 Matchbook sold out to TripleBet Ltd as they struggled to stay afloat.
Having said that, Matchbook are still one of the most popular betting exchanges in the industry. They offer a brilliant commission rate and an incredibly easy to use website. Both of these features set Matchbook apart in the betting exchange world.
What is a Betting Exchange?
A betting exchange is a peer to peer marketplace where punters with differing opinions on the outcome of an event are matched together. At a betting exchange, you can place two kinds of bet. A back bet and a lay bet.
A back bet is the most common bet type and it’s what you’d place if you went to your local high-street betting store. For example I might back Andy Murray to beat Roger Federer. This is a back bet as I’m backing Andy Murray to win.
A lay bet is just the opposite. Using the same example above, I’d now bet that Andy Murray would not beat Roger Federer. It’s the same as betting an outcome will not happen. You can only place this kind of bet at a betting exchange.
Created in 2000 by Betfair, betting exchanges are a relatively new phenomenon in the betting industry. However, they’ve had a huge impact on the industry and they’re arguably the driving force behind the boom in the online betting sector.
Key considerations when choosing the best betting exchange
There are many aspects that make a great betting exchange. In the next section we’ll have a look at some of the most important ones and find out how Matchbook compares to its competitors.
The sports betting industry is built around markets. Without any markets there would be nothing to bet on. This is therefore a key area to look into when choosing the best betting exchange for your needs. Matchbook offer a great range of markets. Whilst they’re not quite on par with Betfair, there are still plenty to choose from when placing our matched bets.
Here’s a list of some of their markets: Soccer, Tennis, Boxing, Cricket, Rugby, American Football, Basketball, Baseball, Ice Hockey, Mixed Martial Arts, Esports and political markets.
Most, if not all pre-match markets transfer into in-play markets meaning you can carry on placing your matched bets as the game is played out. This also allows us to profit from in-play matched betting offers handed out by some bookies.
Markets could not exist if there was no value or price assigned to each one. That’s where odds come in. Equally as important as markets, odds are another key part of any betting firm.
With technology the way it is today, odds across most betting companies are very similar. Companies can easily check on their competitors and alter their prices appropriately. In general, this creates a fairly level playing field.
Betting exchanges usually have slightly higher odds than traditional bookies as they offer the true market price. Markets at a betting exchange are driven by the customers where as a bookie sets their own odds, building in their own profit margin.
Odds at Matchbook are therefore very similar to other betting exchanges out there. You may find a small discrepancy between Matchbook and Betfair/Smarkets for less popular markets. But stick to the popular events and you’ll find the odds are very comparable. Below is a typical example:
Below are the odds for a Premier League football game between Swansea City and Liverpool. First up are the Matchbook odds, followed by Smarkets.