Matchbook.com - New Beta Test Version 1.3m

[The Geek]

This is very first version of the very first ever trading software running on the Matchbook betting exchange API, so expect to find a lot of bugs and don't play with anything other than small stakes.

For those of you who have never heard of Matchbook, they are the worlds fastest growing betting exchange and their pricing model differs to Betfair / Betdaq in they offer a 1% commission on bets.

Please be aware in this version the software does not have an option to show P&L after commission so all figures are gross win. This is being worked on and will be along soon, but in the meantime feel free to break it for me.

Also there is a £2 / $2 / 2 euro minimum Bet that can't be circumvented like the Betfair version so be aware of this when greening.

It is completely free to use, and you can download it here.

Please report any issues you find on this thread.

Enjoy

TG

[The Geek]

Please only post on this thread any issues you are having with the beta version.

I've created a new thread here for general discussion around Geeks Toy for Matchbook here.

Thanks

TG

[westerner]

Hi Geek,

Can't cancel/amend existing bets that are already in the market whilst a new bet is being submitted (e.g. being counted down)

Cheers

[dave16]

Hi Geek,

Can't cancel/amend existing bets that are already in the market whilst a new bet is being submitted (e.g. being counted down)

Cheers

That isn't an issue specific to GT. The same also applies on the web interface. It may represent poor design by the Matchbook techs but it's not unintentional.

Matchbook does not check customers' balances against the potential liability that would be incurred as a result of any bet until immediately prior to the bet being due to hit the market. If you had an available balance of £5000 and submitted a back bet on a selection for £20000 in any in-play market, that bet would not be rejected until it had undergone the bet placement time delay (countdown).

Therefore, under the current design, if Matchbook allowed customers to cancel unmatched bets during the bet placement for an additional bet, it would in effect be possible to avoid the bet placement delay. The notorious Scousebarry evaded the bet placement delay using a similar technique on Betfair.

If you could cancel unmatched bets during the bet placement delay under the current Matchbook system, you could:

Assume original available funds £20,000.
Back Chelsea to win the EPL for £10,000 @ 1000 (unmatched). Available funds now £10,000.
Go to a major league live soccer match odds market for which you have a quick feed (assume current score 0-0).
Submit back bets every second, using the likes of GT, on the attacking team for £19,999 at a discreet number of ticks below the correct price.
If the team does not score, do nothing. Bets will be rejected due to insufficient available funds upon countdown completion.
If the team does score, cancel unmatched bet on Chelsea to win EPL.
A bet of £19,999 would in effect reach the market without undergoing the delay and likely be fully or partially matched at a very favourable price.

0s: Bet 1 on live soccer market submitted and begins to undergo bet placement delay of 6 seconds.
1s: Bet 2 submitted.
..
5s: Bet 6 submitted.
6s: Bet 7 submitted. Bet 1 rejected due to insufficient available funds.
7s: Bet 8 submitted. Bet 2 rejected due to insufficient available funds.
..
10s: GOAL GOAL GOAL!!!! - Quickly cancel unmatched back of Chelsea to win EPL.
11s: Bet 6 hits market and is matched against available liquidity in the market.
12s: Market suspended (assuming an unusually alert scout).

Betfair resolved the issue by checking available funds prior to bets undergoing the bet placement delay - an improvement Matchbook may wish to consider.

[dave16]

How do you refresh the available markets using Geeks Toy for Matchbook?

On the Betfair version there is an option to 'Refresh From Betfair'. I haven't found any similar option on the Matchbook version and thus have resorted to closing and reopening GT when seeking newly uploaded markets.

[devomark2]

only put £25 in to have a little go done a bit of trading on a football match and ended up a few pence up,the next day i logged in and saw my account had gone down to£22.14,so i thought fcuk this and withdrew the remaining money which is now in a pending state,not keen on their style

[westerner]

That isn't an issue specific to GT. The same also applies on the web interface. It may represent poor design by the Matchbook techs but it's not unintentional.

Matchbook does not check customers' balances against the potential liability that would be incurred as a result of any bet until immediately prior to the bet being due to hit the market. If you had an available balance of £5000 and submitted a back bet on a selection for £20000 in any in-play market, that bet would not be rejected until it had undergone the bet placement time delay (countdown).

Therefore, under the current design, if Matchbook allowed customers to cancel unmatched bets during the bet placement for an additional bet, it would in effect be possible to avoid the bet placement delay. The notorious Scousebarry evaded the bet placement delay using a similar technique on Betfair.

If you could cancel unmatched bets during the bet placement delay under the current Matchbook system, you could:

Assume original available funds £20,000.
Back Chelsea to win the EPL for £10,000 @ 1000 (unmatched). Available funds now £10,000.
Go to a major league live soccer match odds market for which you have a quick feed (assume current score 0-0).
Submit back bets every second, using the likes of GT, on the attacking team for £19,999 at a discreet number of ticks below the correct price.
If the team does not score, do nothing. Bets will be rejected due to insufficient available funds upon countdown completion.
If the team does score, cancel unmatched bet on Chelsea to win EPL.
A bet of £19,999 would in effect reach the market without undergoing the delay and likely be fully or partially matched at a very favourable price.

0s: Bet 1 on live soccer market submitted and begins to undergo bet placement delay of 6 seconds.
1s: Bet 2 submitted.
..
5s: Bet 6 submitted.
6s: Bet 7 submitted. Bet 1 rejected due to insufficient available funds.
7s: Bet 8 submitted. Bet 2 rejected due to insufficient available funds.
..
10s: GOAL GOAL GOAL!!!! - Quickly cancel unmatched back of Chelsea to win EPL.
11s: Bet 6 hits market and is matched against available liquidity in the market.
12s: Market suspended (assuming an unusually alert scout).

Betfair resolved the issue by checking available funds prior to bets undergoing the bet placement delay - an improvement Matchbook may wish to consider.

Thanks for the detailed reply Dave.

Unfortunately this makes it very difficult for me to use Matchbook in it's current form, as I can be very active in the market.

Hopefully Matchbook will look at addressing this issue in the near future, if their intention is too attract more traders.

[The Geek]

How do you refresh the available markets using Geeks Toy for Matchbook?

On the Betfair version there is an option to 'Refresh From Betfair'. I haven't found any similar option on the Matchbook version and thus have resorted to closing and reopening GT when seeking newly uploaded markets.

There isn't a way to do that at the moment.

[The Geek]

only put £25 in to have a little go done a bit of trading on a football match and ended up a few pence up,the next day i logged in and saw my account had gone down to£22.14,so i thought fcuk this and withdrew the remaining money which is now in a pending state,not keen on their style

This may be down to the fact GT only shows gross profit and doesn't take into account commission which is somewhat different to Betfairs.

If you contact them here, you should be able to get a 3% Net Win account.

[dave16]

I'm experiencing a very large number of overdue or failed API calls using GT for Matchbook.

I have attempted to alter settings, such as the Maximum Weighted Calls Per Second, in the API Settings Manager but this didn't seem to have any positive impact on the error count. I experience very few failed API calls using the Betfair version, which I often use side by side with the Matchbook version. That would seem to suggest that my internet connection is not the probable cause of this problem.

Any suggestions as to the likely cause of this issue and possible solutions would be welcome.

[The Geek]

I'm experiencing a very large number of overdue or failed API calls using GT for Matchbook.

I have attempted to alter settings, such as the Maximum Weighted Calls Per Second, in the API Settings Manager but this didn't seem to have any positive impact on the error count. I experience very few failed API calls using the Betfair version, which I often use side by side with the Matchbook version. That would seem to suggest that my internet connection is not the probable cause of this problem.

Any suggestions as to the likely cause of this issue and possible solutions would be welcome.

If the are overdue and your internet connection is fine, then it suggests issues at Matchbooks end.

[dave16]

If the are overdue and your internet connection is fine, then it suggests issues at Matchbooks end.

Thanks for your reply The Geek.

Whilst problems at Matchbook's end could be the cause, very few other users appear to have reported the same issue to date. That suggests that it may be something at my end, although I'm not sure what it could be given that the Betfair version works well on the same computer and connection.

Are any other users experiencing the same issue?

[The Geek]

It may not, as when I was building GT there were time outs at some time of day { red calls } on approx 1 in 200 price calls on average.

[dave16]

Deleted. Not applicable.

[danyfarias]

Hi geek, I´ve just download geek for mathcbook, when i try to access to the software how can I associate my matchbook account to the software. It appears the username and pass but the appears the page for betfair?
Please can you help
Kind regards