Starting this week, online betting exchange Matchbook has announced a set 2% commission across all sports wagering taking place on its platform.
The Cork-based operator details that its new structure will apply to net profits with its customers only paying commission on winning bets.
The set commission sees Matchbook join competitors Betdaq and Smarkets on a 2% rate, challenging market leader the Betfair Exchange which operates at a base rate of 5%, with tiered customer discounts dependent on play.
Seeking to attract new betting exchange customers, during the course of 2018 Matchbook launched its ‘Time to Move Over’ campaign, offering discounted 0% months of wagering across its platform for new players.
Launching its 0% campaign, Matchbook stated that it wanted to ‘disrupt the complacency of their competitors in the betting exchange market’.
Commenting on developments Shane Stafford Chief Marketing Officer of Matchbook states:-
“At Matchbook we are constantly working on evolving our product and structure to ensure that customers have the best betting experience possible. 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