The well-known betting exchange Matchbook has officially declared that it will be charging a set 2% commission on all sports wagering that takes place on its online platform. Furthermore, it announced that its new commission scheme will be applied only on net profits; meaning that its members will be solely paying commission on their winning bets.
The set commission 2% rate was introduced by Betdaq and Smarkets, with Matchbook now following its competitors' example in order to challenge the market leader, Betfair. The world’s leading betting exchange operates at a 5% commission rate, while offering some player discounts that depend on play.
In order to attract new betting exchange members, Matchbook launched in 2018 another innovative campaign called ‘Time to Move Over’, offering all sports with 0% commission for a specific period of time for its new players only. By launching that specific campaign, the operator explained that it was aiming to alarm its competitors in the betting exchange market.
Regarding the company’s new developments, Matchbook’s Chief Marketing Officer, Shane Stafford, stated that they constantly work towards the evolution of their product and structure, in order to guarantee that their players always have the best betting experience.
Moreover, he said that since the Premier League, the Champions League, the NFL and the National Hunt racing season are all about to commence, there wouldn’t be a better time to set their commission at 2% on all sports.
Furthermore, he argued that they have listened to their member base and they are switching to ‘Net Win’, highlighting the fact that they will no longer charge players on losing bets. He added that this will boost the player experience and make sure that Matchbook is the best betting exchange that one can choose.