Matchbook moves to 2% commission model
Cork-headquartered operator says new rate is a response to customer demand
Matchbook has become the latest exchange to move to a 2% commission structure, joining Betdaq and Smarkets on the lower rate.
The exchange operator previously charged commission on all transactions but will charge 2% on net winnings from Wednesday this week.
The Cork-headquartered firm said the switch was a response to evolving customer demand.
“At Matchbook we are constantly working on evolving our product and structure to ensure that customers have the best betting experience possible,” said CMO Shane Stafford, who joined the firm from BetVictor earlier this year.
“With the Premier League, Champions League, NFL and National Hunt season in racing all about to kick off, now is the right time to set our commission at 2% across all sports.”
“We have listened to our customer base and are switching to ‘net win’, meaning we will no longer charge customers on losing bets. This will further enhance the customer experience and ensure that Matchbook, with the best liquidity, experience and price, is the betting exchange of choice.”
Photo by Alan Crowhurst/Getty Images
The new format encourages trading more than straight betting compared to the old model.
The change means Betfair is now the only firm not at 2% commission for standard customers.