were none of you guys using the exchange before today? The lines there were almost ALWAYS better than their own book was offering.
The way I understand the 1% fee will work is the same way as matchbook.
If someone is offering the Braves @ +138, I lay 1000 to win $1380.
Braves win, I win $1380-(.01*1380) = 1366.20
Braves lose, I lose $1000.
The way I understand the 1% fee will work is the same way as matchbook.
If someone is offering the Braves @ +138, I lay 1000 to win $1380.
Braves win, I win $1380-(.01*1380) = 1366.20
Braves lose, I lose $1000.
Couple of points:
To SBR - Matchbook's interface is NOT the same, It's a REAL exchange interface. Everything there makes sense. If they realize that one NEEDS the ability to refresh the market on IP betting, they have a shot of a very good place for IP NFL. As it stands, the automatic refresh doesn't cut it for me.
About Mansion, I didn't like the old pseudo-exchange software, but I don't like the new one even more. Do a 2 line like BF, or do a 1 line like TS, but don't do a ridiculous SB imitation.
About the "better than Betfair" comment, better my ass. The whole point of using exchanges i the possibility to hedge, lay off, or whatever you want to call it. @ Mansion, if I lay a side 700 for 1k @ 1.70 and then want to back again 1k for 750 @ 1.75, how much comission do I pay? 1% on 50 quid, or 1% on 750/1000, which would be lunacy?(it's their fault that it isn't clear in the e-mail I got...)
Finally, I urge more of you guys to give Matchbook a shot(if you have problems setting up a BF account...).
To SBR - Matchbook's interface is NOT the same, It's a REAL exchange interface. Everything there makes sense. If they realize that one NEEDS the ability to refresh the market on IP betting, they have a shot of a very good place for IP NFL. As it stands, the automatic refresh doesn't cut it for me.
About Mansion, I didn't like the old pseudo-exchange software, but I don't like the new one even more. Do a 2 line like BF, or do a 1 line like TS, but don't do a ridiculous SB imitation.
About the "better than Betfair" comment, better my ass. The whole point of using exchanges i the possibility to hedge, lay off, or whatever you want to call it. @ Mansion, if I lay a side 700 for 1k @ 1.70 and then want to back again 1k for 750 @ 1.75, how much comission do I pay? 1% on 50 quid, or 1% on 750/1000, which would be lunacy?(it's their fault that it isn't clear in the e-mail I got...)
Finally, I urge more of you guys to give Matchbook a shot(if you have problems setting up a BF account...).
I agree with you, you pay zero commission if you put up an offer that doesn't already exist, which will encourage sellers to put up original numbers. Also, I think sellers will have to be super fast and on top of line moves, or they could potentially get rocked.
As far as paying the fees, I think spiderman was correct when he said that 1% is taken off the winnings. So -150 it's 150/(100*.99)
Anyone had any bets graded yet?
I figure it works like this:
Risking 1000 on a +100 line means you're risking 990 to win 990 (10 is removed from your risk amount automatically and pocketed by mansion). 1010 tw 1000 wouldn't work since what if the customer only has 1000 in his account and is risking it all.
I figure it works like this:
Risking 1000 on a +100 line means you're risking 990 to win 990 (10 is removed from your risk amount automatically and pocketed by mansion). 1010 tw 1000 wouldn't work since what if the customer only has 1000 in his account and is risking it all.
This is what the e-mail says:
"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.
** You "buy" when you accept an existing offer or place an offer that is equal to and (therefore matched by) an existing inverse offer."
The 1% is paid on the "win amount". It does not say anywhere in the e-mail that the fee is charged only on winning wagers. It make sense this way. If the buyer were to only pay a commish on a winning wager and they lose, Mansion does not collect any commission because the seller (the person that makes the offer on the exchange) never pays a commission.
IS
"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 "buy" when you accept an existing offer or place an offer that is equal to and (therefore matched by) an existing inverse offer."
The 1% is paid on the "win amount". It does not say anywhere in the e-mail that the fee is charged only on winning wagers. It make sense this way. If the buyer were to only pay a commish on a winning wager and they lose, Mansion does not collect any commission because the seller (the person that makes the offer on the exchange) never pays a commission.
IS
Santo said:
funny thing, I think it is 'you' who doesnt get it....
the way I read it, is you pay 1% COMMISSION, on the amount you are trying to WIN, regardless of wether the bet is a WINNER or a LOSER.....
I made a Bunch of Plays tonite, but in each case I was the SELLER,
I guess we will know for sure after tonite's plays....
