Why Do Matchbook Not Pay First Past The Post?
While many popular sportsbooks offer punters a first past the post or double result concession, betting exchanges that provide betting on horse racing in on UK and Irish horse racing don’t. This may be because betting exchanges work to tighter margins than sportsbooks.
Another plausible reason is that betting exchanges work on a commission-only basis, and all bets struck on betting exchanges involve one punter betting against another. In this scenario, betting exchanges would have to pay out on both the back and lay bets.
Matchbook is a betting exchange that does not offer a first past the post or double result concession, but other betting exchanges like Betfair, Smarkets, and Betdaq also don’t offer this concession on their betting exchanges. Please note, these firms may offer a first past the post or double result concession on horse racing bets struck on their sportsbooks.
Matchbook’s Horse Racing Rules
Regarding first past the post, Matchbook makes it clear in their rules that they do not pay first past the post.
While Matchbook settles horse racing markets, typically, on a first past the post basis, if the stewards subsequently amend a result Matchbook will reverse any settlements made in good faith and pay out only on the official result. This is true only of the official result on the day of any race in question. Should the result of a race be amended after a subsequent appeal that takes place after the official result has been called, the official result will stand for settlement purposes. Matchbook will not pay out on both horses in a double result.
Why Have I Not Got My Horse Racing Winnings At Matchbook?
If you’ve not got your horse racing winnings after placing a bet at Matchbook, it may be you’re expecting to be paid out after your horse finished first past the post but got demoted from first place by the stewards. If this is the case, sadly, you will not receive your winnings as Matchbook only pays out on the official result and not first past the post or the double result in such circumstances.
There are also other circumstances in which you may not receive your winnings from Matchbook, even if your horse finishes first past the post.
Matchbook will not pay out on any horses in a race if:
A horse race is a walkover (only one horse runs)
If a horse race is declared void
If a horse race is postponed until another day
The venue or surface is changed following the publication of a market on Matchbook
How Do I Contact Matchbook?
If you have a dispute over a first past the post result at Matchbook, the best thing to do is contact the Matchbook customer support team. Matchbook has an FAQ section. You can also get in touch by email at support@matchbook.com.
Where possible, we advise you to use live chat support if you want to speak to a member of the customer service team. To use live chat, click on the white and grey speech bubble icon in the bottom right-hand corner of any page on the Matchbook website. You’ll need to enter your name, Matchbook username, and email address before typing your message.
How Much Is Matchbook Commission?
The commission charged by the Matchbook betting exchange has evolved over time to become more user-friendly and competitive. As of November 2019, Matchbook altered its commission structure, making it simpler and more straightforward. Prior to this change, Matchbook charged a commission on all bets, whether they were winning or losing. However, now they only charge a commission on winning bets.
The rate of commission you’ll pay at Matchbook depends on where you reside. If you’re in the UK, Republic of Ireland, or Isle of Man, you’ll be charged a 2% commission on your winning bets. For players residing outside these areas, the commission is higher at 4%. This change in policy means that if you lose a bet on the Matchbook exchange, you won’t be charged any commission.
Matchbook’s revised commission rates make it an attractive option for matched betting enthusiasts, as it offers one of the lowest commission rates among major betting exchanges. This is particularly advantageous for bettors who win more often at betting exchanges than at traditional bookmakers, as exchanges like Matchbook charge commission based on winnings and not on losses.
This competitive commission structure has positioned Matchbook as a strong contender in the betting exchange market, offering a more cost-effective option for bettors compared to other exchanges which might have higher commission rates.
How Can I Contact Matchbook Support?
To contact Matchbook support, you have several options at your disposal. Firstly, Matchbook offers a live chat service, which is likely the quickest way to get assistance. The live chat is accessible from Sunday to Thursday between 9 AM and 11 PM, and on Friday to Saturday from 9 AM to midnight. However, you need to be logged in to your account to use this service.
If you prefer to communicate via email, you can send your queries to support@matchbook.com. This method is useful for more detailed inquiries where you might need to attach documents or screenshots.
Another way to contact Matchbook is through their phone support. While a direct phone number is not displayed on the website, you can request a callback through the live chat service. An operator will return your call and assist you with your queries.
Matchbook also maintains a presence on social media platforms like Facebook and Twitter, which can be used for general queries or updates.
Additionally, Matchbook’s customer service team is available to assist with any issues related to their website or the sign-up offer. For more detailed and specific inquiries, it’s best to use the email or live chat options.
Should I Bet With Matchbook?
There are normally pros and cons when it comes to using most betting sites. The pros for betting at Matchbook are you’ll get competitive horse racing odds on a wide range of betting exchange markets. You’ll also be able to take advantage of promotional offers and competitive low commission rates.
One of the cons is you won’t get paid out on first past the post or double results if a horse you’ve bet on finishes first but is demoted. But to be fair to Matchbook, this policy is in line with the other major betting exchanges.
We hope that’s answered your question, do Matchbook pay first past the post. Happy punting!
*Please note, details of this article may be subject to change without notice.
