Mansion unveils new exchange - introduces fees

[cloud79]

No! I think the fees come out off the top when the wager is placed.

So in your example it's actually 1013.80 to win 1366.20 = +134.76. So the extra juice there is actually over 3 cents. The way it works out, the fees are more onerous when betting on the dog.

Example:
(-150) 1500 to win 1000 becomes 1510 to win 990 = -152.52. Extra juice of 2.52 cents.

So I guess the extra juice is actually more like between 2.5 and 3.5 cents.

Or am I doing this wrong?

They only charge the fees when you win the wager

-150 is more like risk 1500 for 990

 

[nimue77]

Someone has to take offers, or there is no point in making an offer.

Looks like this place could be a blood-bath for some of you. The fact is its an Exchange, you dont have to take the price on offer, you can tender a price yourself. Great, you can all play bookmakers nowarty:

 

[D2bets]

Well I'm just thinking here...if the 1% (of the 'to win' amount) comes off the top when the bet is placed, win or lose, then if you bet -150 1500 to win 1000 then....if you win you net 1000-10=990. If you lose you lose the 1500 +10. So you are risking 1510 to win 990 = -152.5.

Of course I could be all wrong.

 

[nimue77]

I guess this will be cleared up when some bets payout later today, until then i'll stay away.

 

[cloud79]

The 1% fee doesn't sound like a lot, but it's pretty significant. A stealth fee.

That is still a lot better than the 2% charge by Matchbook.com

 

[royalfan]

Can anyone get moneylines on the new exchange or just decimals? I cannot seem to get moneylines with this new deal.

 

[nimue77]

I see all moneylines. There is an american/decimal pull down in the upper left.

Can anyone get moneylines on the new exchange or just decimals? I cannot seem to get moneylines with this new deal.

 

[winbet]

Someone has to take offers, or there is no point in making an offer.

Dont worry, plenty of Mugs out there, players who havent a clue what their doing. You only have to read this thread.

 

[D2bets]

They only charge the fees when you win the wager

-150 is more like risk 1500 for 990

Are you positive about that?

<!--StartFragment --> From the email:
Effective August 9th, when you "buy" on MANSION Sports Exchange (by accepting a posted offer) you will be charged a fee of 1% on the win amount of each bet.

• Pay no fees when you "sell"* on MANSION Sports Exchange - 0%
• Pay only 1% of the win amount when you "buy"**.

* You "sell" by placing an offer that is not immediately matched by an existing inverse offer.
** You "buy" when you accept an existing offer or place an offer that is equal to and (therefore matched by) an existing inverse offer.

--- It says you pay a fee when you "buy", doesn't say you only pay when you buy and win.

 

[Pokerking]

This change by Mansion is a big disappointment but they're still way better than Betfair and their 5% fees.

 

[cloud79]

Well I'm just thinking here...if the 1% (of the 'to win' amount) comes off the top when the bet is placed, win or lose, then if you bet -150 1500 to win 1000 then....if you win you net 1000-10=990. If you lose you lose the 1500 +10. So you are risking 1510 to win 990 = -152.5.

Of course I could be all wrong.

If you lose the 1500 bet there is no extra charge of $10, that's how matchbook.com works

Remember for every lose there is also a winning side, the Exchange only takes the fee from the winning side.

 

[SportSavant]

What if you 'LAY' an offer that is not currently offered....

& then someone matches it.....

& then you win the bet....

do you pay the 1%?

is the 1% paid on all winning bets?

 

[D2bets]

What if you 'LAY' an offer that is not currently offered....

& then someone matches it.....

& then you win the bet....

do you pay the 1%?

is the 1% paid on all winning bets?

Not from the way I read it. If you make an offer that is not immediately matched then there should be $0 fees period.

 

[ZZZSpeedster]

SS I believe that would be considered SELLING and there is no fee involved for YOU

 

[nimue77]

My understanding is that if you make an offer that is not currently offered then you dont pay a fee, doesnt matter if 10 seconds later someone matches it, it has to be immediate, meaning it was already up there I think.

What if you 'LAY' an offer that is not currently offered....

& then someone matches it.....

& then you win the bet....

do you pay the 1%?

is the 1% paid on all winning bets?

 

[D2bets]

If you lose the 1500 bet there is no extra charge of $10, that's how matchbook.com works

Remember for every lose there is also a winning side, the Exchange only takes the fee from the winning side.

Not quite. If the winning side is the marketmaker side, then he pays no fees, win or lose.

I think the "buyer" pays a fee when he places the bet, whether or not it ends up winning or losing. Again, this is new, so I could be wrong, but that's the way I read their e-mail.

 

[trytrytry]

i made about exactly 5 figures at MAnsion . I got in early there, first it was playing the NBA totals that did not change from the overnights even if the lines had drifted 5+ points, there were many of those at -116 and -124 for example that you could scoop up. ONe or two a day at times! That was a Gold mine as the big steam in totals was hitting 75% or so. I got stupid and tried to middle some of those with and could not catch a big middle during that time as well.

Then it was scalps and locking in some free money.

However, to be honest I have given some back last 3 months and the number of opportunities is way way way down for finding free money every day.

(likely due to more players doing it plus Im not on it like a shark anymore) Ill still be happy to pay the 1% or whatever it is.

 

[nimue77]

That is not really 1%, whether they claim it or not.

Not quite. If the winning side is the marketmaker side, then he pays no fees, win or lose.

I think the "buyer" pays a fee when he places the bet, whether or not it ends up winning or losing. Again, this is new, so I could be wrong, but that's the way I read their e-mail.

 

[Halifax]

Are you positive about that?

<!--StartFragment -->From the email:
Effective August 9th, when you "buy" on MANSION Sports Exchange (by accepting a posted offer) you will be charged a fee of 1% on the win amount of each bet.

• Pay no fees when you "sell"* on MANSION Sports Exchange - 0%
• Pay only 1% of the win amount when you "buy"**.

* You "sell" by placing an offer that is not immediately matched by an existing inverse offer.
** You "buy" when you accept an existing offer or place an offer that is equal to and (therefore matched by) an existing inverse offer.

--- It says you pay a fee when you "buy", doesn't say you only pay when you buy and win.

We won't know for sure until they grade the bets, but the way I read it, it sounds like this:

If you are betting $1,500 to win $1,000 at -150, it looks like you will really be risking $1,510 (1,500 + 10) to win $1,000.

Too bad we weren't all as smart as WinBet, and know for sure how this will work, but ... oh well.

 

[cloud79]

<table border="0" cellpadding="0" cellspacing="0" width="100%"> <tbody><tr><td colspan="5"><table border="0" cellpadding="0" cellspacing="0" width="100%"><tbody><tr><td colspan="3" class="title">Here is some example of my past transaction from matchbook.com. They only charge me 2% when i win the wager.


Baseball/Kansas City at Boston/Money Line</td><td class="view" align="right"><table border="0" cellpadding="0" cellspacing="0"><tbody><tr><td>Detailed</td><td><input name="1" id="closedbetsdetail" onclick="doClick(this)" type="radio"></td><td width="5">
</td><td>Summary</td><td><input name="1" checked="checked" type="radio"></td><td width="5">
</td><td>Avg Odds</td><td><input name="1" id="Avg Odds" onclick="doClick(this)" type="radio"></td></tr></tbody></table></td></tr></tbody></table>
</td></tr><tr><td class="under-paragraph" nowrap="nowrap">Selection</td><td class="under-paragraph" align="right" nowrap="nowrap">Odds</td><td class="under-paragraph" align="right" nowrap="nowrap">Stake ($)</td><td class="under-paragraph" align="right" nowrap="nowrap">Profit/Loss ($)</td></tr><tr class="evenrow"><td>Kansas City</td><td align="right">+216</td><td align="right">100.00</td><td align="right">-100.00</td></tr><tr><td colspan="5" class="line">
</td></tr><tr class="oddrow"><td> </td><td>Subtotal</td><td align="right">
</td><td align="right">-100.00</td></tr><tr class="evenrow"><td> </td><td>Commission</td><td align="right">
</td><td align="right">0.00</td></tr><tr class="oddrow"><td> </td><td>Totals</td><td align="right">100.00</td><td align="right">-100.00







<table border="0" cellpadding="0" cellspacing="0" width="100%"> <tbody><tr><td colspan="5"><table border="0" cellpadding="0" cellspacing="0" width="100%"><tbody><tr><td colspan="3" class="title">Baseball/Boston at Minnesota/Money Line</td><td class="view" align="right"><table border="0" cellpadding="0" cellspacing="0"><tbody><tr><td>Detailed</td><td><input name="1" id="closedbetsdetail" onclick="doClick(this)" type="radio"></td><td width="5">
</td><td>Summary</td><td><input name="1" checked="checked" type="radio"></td><td width="5">
</td><td>Avg Odds</td><td><input name="1" id="Avg Odds" onclick="doClick(this)" type="radio"></td></tr></tbody></table></td></tr></tbody></table>
</td></tr><tr><td class="under-paragraph" nowrap="nowrap">Selection</td><td class="under-paragraph" align="right" nowrap="nowrap">Odds</td><td class="under-paragraph" align="right" nowrap="nowrap">Stake ($)</td><td class="under-paragraph" align="right" nowrap="nowrap">Profit/Loss ($)</td></tr><tr class="evenrow"><td>Boston</td><td align="right">-136</td><td align="right">94.20</td><td align="right">69.26</td></tr><tr><td colspan="5" class="line">
</td></tr><tr class="oddrow"><td> </td><td>Subtotal</td><td align="right">
</td><td align="right">69.26</td></tr><tr class="evenrow"><td> </td><td>Commission</td><td align="right">
</td><td align="right">-1.39</td></tr><tr class="oddrow"><td> </td><td>Totals</td><td align="right">94.20</td><td align="right">67.88</td></tr></tbody> </table>
</td></tr></tbody> </table>