Matchbook rejigs commission fees to boost value proposition
New structure incentivises punters to offer the lay side of the bet in a move designed to increase liquidity
Betting exchange Matchbook has restructured its commission fees in an effort to boost liquidity and offer better odds for punters.
As of 1 November, the exchange is charging 0.85% commission on all posted offers and 1.70% commission on all accepted offers.
The fee changes means it will be cheaper for customers to offer a bet and have it filled, rather than vice-versa.
The firm said in an email to customers: “At Matchbook, we are committed to improving your betting experience. This starts by building a healthy and liquid exchange; each matched bet indicating two satisfied customers getting the odds they want for their requested stake.
“Posting an offer, or looking for better odds, is not as straightforward as accepting an offer, but when more customers post offers a market’s liquidity grows and its odds improve.
“This is a principle that has allowed Matchbook and other exchanges to grow and flourish, but we want to take it a step further. That’s why we’re lowering our commission rate on posted offers. This should lead to more matched bets, more satisfied customers, and a healthier exchange.”
The company previously charged 1.3% commission on all bets compared to 5% on winning bets on Betfair and 2% on net winnings at Smarkets.
Matchbook has been focused on upgrading its product offering in recent months, with the launch of a live casino across its mobile platforms in late September, and the addition of horse racing to the exchange back in August.