How To Use Matchbook: What You Need To Know
Matchbook is another betting exchange that’s become popular over the past few years. If you’re not using a betting exchange then you really should be.
With better odds than traditional bookmakers and the option to place lay bets, it’s something you should get familiar with.
You might already be familiar with exchanges and looking to see if Matchbook works in a similar way.
Or if you’re matched betting it provides another great option to lay off your bets.
This guide is going to clear up all of those questions and show you how to use Matchbook.
How To Use Matchbook
The first thing you need to do is sign-up. This is easy to do by clicking the red ‘Join Matchbook’ button in the top right corner.
It will ask for all the standard details and only takes a few minutes. There is often an offer running in conjunction with new customers which is something to look out for. In this case, there is up to £10 refund if your first bet loses.
This could be very handy for your matched bets.
The user interface of Matchbook is very clean and contains all the standard features. It is easy to navigate around using the market navigator on the left-hand side of the screen. There is also a search bar at the top of the screen where you can search for events, teams, or markets.
This is the standard type of bet that all bettors will be familiar with.
It’s known as backing because you are backing something to happen. Let’s look at an example on Matchbook.
Here we have an upcoming horse race.
We are wanting to place a back bet on Sleep Easy. This means we think this horse will win the race.
The columns that are shaded in blue represent the odds we can back at. There are different options because unlike traditional bookmakers users can set their own odds.
This is possible as you are betting against other people rather than the bookmaker. Matchbook then take a commission from winning bets. More on this later.
The odds in the dark blue are where the market is currently at. The figure under the odds is the amount of money available at those odds, this is known as liquid. For your bet to get accepted there has to be enough liquid. Basically, someone has to take the opposing view to you.
This is what prevents people from getting bets matched at odds that are too good to be true. It does, however, mean the odds will be better than a traditional bookmaker as Matchbook do not need you to lose in order to profit.
It is possible that you can place a bet and it doesn’t get matched. To avoid this you want to stick to events that are popular, the more people betting, the more money looking to get matched.
Some bets might only get part matched. This means that there is only enough liquid in the market to match some of your stake. Matchbook will try to match the rest but there is no guarantee that it will go through.
The amount of liquid available at 2.66 is £177 and £691 at 2.56. If you want to place a bet of more than £177 it might be a good idea to take a lower price. This is because there is more liquid available there and you are more likely to be matched straight away.
If you are betting in popular markets like most UK horse races and Premier League football then this shouldn’t affect you too much. It is just something to be aware of when using betting exchanges like Matchbook.
If we want to back Sleep easy at odds of 2.66 we go ahead and click it. This will open the betslip.
We have entered a stake of £10 and our potential profit and loss is shown on the list of runners.
The only difference here is the option to ‘keep in-play’. If your bet does not get matched by the start time of the event Matchbook will cancel it as the event becomes in-play.
By checking this box Matchbook will keep the bet active as the event goes in-play. This doesn’t mean it will be matched. As popular events get close to the start time the odds will start to move around quicker and quicker. This is particularly true of horse racing.
Most matched bettors will be using Matchbook for the purpose of placing lay bets. This is the act of betting against something to happen.
If you place a lay bet you are essentially taking the position of bookmaker.
We have placed a £100 lay bet on Argentina at odds of 3.
To win our end of the bet we need anything but an Argentina win. If they draw or lose we win £100 profit.
However, if Argentina do win we have to payout. The total payout would be £300, this includes the other players £200 winnings as well as the £100 stake. This is something to be cautious about when using an exchange.
When matched betting back bets will be placed at a bookmaker and lay bets at somewhere like Matchbook. This means we will be covering every outcome of an event. This is one of the best ways to use an exchange in our opinion.
Matchbook’s Lay Commission
At Matchbook you will only pay commission on winning bets.
Their commission for all new users is 2% which automatically gets taken off when your bets are settled.
For people that are consistently winning, Matchbook will issue new levels of commission.
If you are making the following sums:
$1,000,000 (one million US Dollars) of Betting Volume; and/or
$20,000 (twenty thousand US Dollars) of Betting Profit.
Matchbook will contact you and inform you of the changes to your commission. This could range anywhere from 3.5% up to 60%. Pretty hefty sums but you shouldn’t worry about that if you are just getting started with Matchbook.
How to Place Accumulators on Matchbook
Matchbook offer acca’s in the following sports – Baseball, Basketball, Darts, Horse Racing, Ice, Hockey, MMA, NCAAF, NFL, Rugby, Soccer, Snooker and Tennis on selected on markets.
You can tell if they offer accumulators as there will be an icon next to the market name.
There are no pre-made accumulators, instead you build up your acca by adding up to 10 selections. As it stands you can only create acca’s with back bets.
You cannot create lay acca’s. This doesn’t mean you can’t lay off bookmakers acca’s- you just have to do it as individual selections.
How to Trade On Matchbook
Matchbook allow their platform to work in conjunction with trading software. By using trading software you will be viewing the market a much quicker rate than people using the website.
This gives you the advantage of being able to get in and out of the market quicker.
If you can place a back bet at higher odds then lay it off at lower odds you will have just made a trade and guaranteed profit whatever the outcome of the event.
It is possible to do this without software if you trust yourself to predict the way markets are moving. This is how many people get started. When you’re getting started with an exchange it is a good idea to watch how a market reacts during a sport you are familiar with.
This will help you to see how things move. Then if you are still interested in trading you can look at purchasing software.
Because Matchbook tends to have less overall liquidity than somewhere like Betfair and there might not be as many different companies offering software. However, it is sometimes possible to find the Matchbook version of trading software available free of charge.
Sports trading and matched betting are two great systems to get involved in. Make sure you understand Matchbook to get the best out of both.
About the Author
This post was written by Max. Max has been writing and editing for Beating Betting since August 2019. He's a massive sports fan and got into matched betting a few years ago.