Matchbook Trading – Like Betfair But Better?

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Matchbook Trading… Will they ever truly rival Betfair?

Matchbook Trading

Think the Premium Charge killed Betfair? You’re probably not alone…

I think Matchbook’s CEO put it well when opening at the Matchbook Trading Conference yesterday.

Betfair once had a great opportunity to dominate the betting industry, being the primary betting platform of the future. So, where did it go wrong?

As I’ve said before, betting exchanges make perfect sense! It’s the best outcome for the customer, be it trading or punting. You can get better prices nearly all the time, larger bets are possible and your account isn’t going to be closed.

So why haven’t they blown everyone else out the water?

From the speed at which Betfair took off it looked extremely likely, but of course the exchange model doesn’t give the company and its shareholders the fast-cash they want. The very same reason that; although the exchange made them famous, they now force as much custom as possible to the sports book…

Adding the Premium Charge didn’t do the company’s reputation a lot of good either, but hey that only affects the minority of winners right?

If you’ve been trading any length of time, Betfairs premium charges and behaviour towards exchange users will be old news. But much like in any betting market; with change comes opportunity.. hopefully the Matchbook trading conference yesterday was the start of some longer-term change!

I know plenty wanted to attend the Matchbook trading conference but couldn’t, be it for the price of a ticket or geographical location. Here’s a quick run-down on how the day went.

Matchbook Trading Conference – Prof Leighton V Williams

Matchbook Trading - Leighton

The day was kicked off with a particularly interesting slot from Professor V Williams. Much was covered about bias’s and behaviour that I have read about elsewhere. However, having spent quite a bit of time in the Tennis markets just lately I found what he had to say about prospect theory and frames of reference very interesting.

Just recently I have noticed the tennis player Simona Halep (and im sure there are many others) has a routine of leading a game 40-0 only to find the following few points are given away in quick succession. During the talk it left me thinking about her own frame of reference. It’s something I’m going to look into the data for further as, for anyone that’s ever traded tennis you will know there is extremely small downside with a large potential upside at such points. At points in a match where there is pressure this would be of particularly interesting.

Matchbook Trading Conference – Mathew Benham

Matchbook Trading - Mathew Benham

It was a pleasure to hear Mathew Benham deliver his views in such a straight-talking manner.

After spending a while talking about his football club (Brentford FC) it was quite sobering to hear his best advice for someone starting out betting or trading was to “get some good psychology books”.

I guess it doesn’t matter how good your data or fundamental reason for a trade or bet is, if you don’t have the right psychological approach things are to get messy.

Hearing Matt Piper (@puntdotcom) say he still regularly goes “off piste” when trading made me think, no matter what level you are trading at there will always be them variables to deal with psychologically.

Also, depending on the sport that you’re betting or trading on. It’s just as important to think about the psychological impact situations have on those involved (for example a tennis player at match point).

Matchbook Trading Conference – Dan Weston (Tennis ratings)…

Unfortunately I missed a fair chunk of Dan Westons pitch as I was still talking to Peter Webb following a coffee break. The tail end though, was extremely interesting. Having the amount of data Dan has at your disposal when trading is always going to be of great use. You’ll know what I mean particularly if you trade womens tennis!

Having a detailed outlook on each players personal behaviour, particularly under pressure is very interesting. Doubling this information up, along with price action knowledge can provide a real kick to confidence. It’s definitely something I’ll be looking to peruse in the coming months.

Finding an ideal entry point in tennis markets is relatively easy, knowing how to maximize your position and of course limit risk is key!

Matchbook Trading Conference – Summary

Overall I’d say the day was a pretty big success. If Matchook trading will a take off is another thing with their current commission structure.

Either way, it might give Betfair or Betdaq the incentive to make some sizeable changes. It certainly provided a great opportunity for the trading community to get together in person for once! supposed to everyone hiding away in their various offices.

Here’s a quick YouTube clip put together showing the highlights from the Matchbook trading conference…

 

Highlights from the Matchbook Trading Conference

Related Article: Betfair Trading

You can find out more about Matchbook here.

If it could be arranged, would you attend an event like this? If so what would you consider a fair price for tickets? Comment below!

12 thoughts on “Matchbook Trading – Like Betfair But Better?

  1. I’d be happy to go 50 even 60 quid, it looked a great day, if your serious about your trading it would be money well spent.

  2. surely matchbook are also behind betdaq and also possibly smarkets. Last time i checked matchbook dont have racing markets. They also failed to honour my signup bonus and were a massive hassle to withdraw cash from. Smarkets is the real place for the future, just needs some software devolped for it.

  3. Well with the way Betfair is behaving currently (terrible site problems for many days now) then any alternative is welcome.

    Seems a little odd though that this event was more about ‘general’ trading rather than anything specific about Matchbook?

    How is their commision on losing bets encouraging trading in any way – was that asked??

    Interesting post though, thanks.

  4. With Matchbook’s commission structure (1% all bets) making multiple trades on the same event is totally impossible. It’s absolutely fine if you want a straight bet, or a single back to lay / lay to back or hedge. If they are serious about attracting people who trade back and forth it’s obviously something they need to look at.

  5. Hi i am just a regular down to earth punter looking for good value; who isn’t .
    Why would Betfair spoil the fun for punters by raising the commision charge, surely
    the more liquidity in the markets the more commision they will make.

    Seems to me the story of the goose and the golden egg is an appropriate metaphorhere
    What a downerlets hope common sense prevails
    Ron

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