Mansion unveils new exchange - introduces fees

nimue77 · Aug 9, 2005

Someone should email them and ask them to call so you can ask about the exchange fees...

D2bets · Aug 9, 2005

cloud79 said:
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR><TD colSpan=5><TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR><TD class=title colSpan=3>Here is some example of my past transaction from matchbook.com. They only charge me 2% when i win the wager.

Baseball/Kansas City at Boston/Money Line
</TD><TD class=view align=right><TABLE cellSpacing=0 cellPadding=0 border=0><TBODY><TR><TD>Detailed</TD><TD><INPUT id=closedbetsdetail onclick=doClick(this) type=radio name=1></TD><TD width=5>

</TD><TD>Summary</TD><TD><INPUT type=radio CHECKED name=1></TD><TD width=5>

</TD><TD>Avg Odds</TD><TD><INPUT id="Avg Odds" onclick=doClick(this) type=radio name=1></TD></TR></TBODY></TABLE></TD></TR></TBODY></TABLE>

</TD></TR><TR><TD class=under-paragraph noWrap>Selection</TD><TD class=under-paragraph noWrap align=right>Odds</TD><TD class=under-paragraph noWrap align=right>Stake ($)</TD><TD class=under-paragraph noWrap align=right>Profit/Loss ($)</TD></TR><TR class=evenrow><TD>Kansas City</TD><TD align=right>+216</TD><TD align=right>100.00</TD><TD align=right>-100.00</TD></TR><TR><TD class=line colSpan=5>

</TD></TR><TR class=oddrow><TD></TD><TD>Subtotal</TD><TD align=right>

</TD><TD align=right>-100.00</TD></TR><TR class=evenrow><TD></TD><TD>Commission</TD><TD align=right>

</TD><TD align=right>0.00</TD></TR><TR class=oddrow><TD></TD><TD>Totals</TD><TD align=right>100.00</TD><TD align=right>-100.00

<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR><TD colSpan=5><TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR><TD class=title colSpan=3>Baseball/Boston at Minnesota/Money Line</TD><TD class=view align=right><TABLE cellSpacing=0 cellPadding=0 border=0><TBODY><TR><TD>Detailed</TD><TD><INPUT id=closedbetsdetail onclick=doClick(this) type=radio name=1></TD><TD width=5>

</TD><TD>Summary</TD><TD><INPUT type=radio CHECKED name=1></TD><TD width=5>

</TD><TD>Avg Odds</TD><TD><INPUT id="Avg Odds" onclick=doClick(this) type=radio name=1></TD></TR></TBODY></TABLE></TD></TR></TBODY></TABLE>

</TD></TR><TR><TD class=under-paragraph noWrap>Selection</TD><TD class=under-paragraph noWrap align=right>Odds</TD><TD class=under-paragraph noWrap align=right>Stake ($)</TD><TD class=under-paragraph noWrap align=right>Profit/Loss ($)</TD></TR><TR class=evenrow><TD>Boston</TD><TD align=right>-136</TD><TD align=right>94.20</TD><TD align=right>69.26</TD></TR><TR><TD class=line colSpan=5>

</TD></TR><TR class=oddrow><TD></TD><TD>Subtotal</TD><TD align=right>

</TD><TD align=right>69.26</TD></TR><TR class=evenrow><TD></TD><TD>Commission</TD><TD align=right>

</TD><TD align=right>-1.39</TD></TR><TR class=oddrow><TD></TD><TD>Totals</TD><TD align=right>94.20</TD><TD align=right>67.88</TD></TR></TBODY></TABLE>

</TD></TR></TBODY></TABLE>

That's great, but every exhange I've seen (tradesports, betfair, matchbook) does this stuff a little differently.

SportSavant · Aug 9, 2005

okay, I am getting a clearer understanding now....

If you make an Offer, then it is 100% free.... This is their way of encouraging people to MAKE offers that are not already there... people will be encouraged to MAKE offers as those offers will be 100% FREE....

If on the other hand you SEE an offer, that you like, & you decide to MATCH IT (you accept the offer), then you will pay a 1% commission on your 'WIN' amount.....

for example, if someone is offering TEAM A at -150.... & you like those odds so you decide to put up 150$ to win 100$ on that offer..... & you match the offer.... Then you will be charged a 1% commission on your 'WIN' amount, your win amount is 100$, therefore you commission would be 1$.

Is this how you guys see it? There are some sweet offers there right now, I have a funny feeling, once the dust settles, we will still all be MANSION customers, what do you guys think?

SportSavant · Aug 9, 2005

incidentally, the way I understand it, you would pay the 1% fee on the 'WIN' amount wether your bet WINS or LOSES....

am i right here guys?:digit:

nimue77 · Aug 9, 2005

I suspect that may be the case, but with diminished balances.

SportSavant said:
okay, I am getting a clearer understanding now....

If you make an Offer, then it is 100% free.... This is their way of encouraging people to MAKE offers that are not already there... people will be encouraged to MAKE offers as those offers will be 100% FREE....

If on the other hand you SEE an offer, that you like, & you decide to MATCH IT (you accept the offer), then you will pay a 1% commission on your 'WIN' amount.....

for example, if someone is offering TEAM A at -150.... & you like those odds so you decide to put up 150$ to win 100$ on that offer..... & you match the offer.... Then you will be charged a 1% commission on your 'WIN' amount, your win amount is 100$, therefore you commission would be 1$.

Is this how you guys see it? There are some sweet offers there right now, I have a funny feeling, once the dust settles, we will still all be MANSION customers, what do you guys think?

vanzack · Aug 9, 2005

I dont think that I have been this confused since the OJ verdict.

WTF? am I still dreaming??

This was my favorite book for the last 6 months, how can they even post a line like -180 +148? Im so confused.

I realize the exchange can still provide value. But this is like going from Anna Nicole Smith in 1995 to Anna Nicole Smith in 2004.

What a total buzzkill.

:monsters-

HOW IS IT POSSIBLE THAT BOTH SIDES ARE 155?????

SHOULDNT THIS BET BE TAKEN???? HOW IS THERE MATCHING OFFERS AT THE SAME PRICE????

905 San Francisco Giants v Atlanta Braves 19:35

San Francisco Giants
(Hennessey, Brad) v Atlanta Braves
(Ramirez, Horacio)

212 +155 List Both Money Line List Both -155 811

nimue77 · Aug 9, 2005

If -150 means 1510 to win 990, then that is a really -152.525, thats more than 1%

SportSavant said:
incidentally, the way I understand it, you would pay the 1% fee on the 'WIN' amount wether your bet WINS or LOSES....

am i right here guys?:digit:

Pokerking · Aug 9, 2005

They're using the same philosophy as tradesports that you only pay fees when you take an offer. They're still by far the cheapest and they have the best liquidity because they make a market on a lot of the bets. They're still the best betting exchange even with the 1%. Betfair charges you the commission on all trades.

cloud79 · Aug 9, 2005

SportSavant said:
incidentally, the way I understand it, you would pay the 1% fee on the 'WIN' amount wether your bet WINS or LOSES....

am i right here guys?:digit:

It does seem that way after re-reading the mansion post. In that case it really isn't just 1% commision for the buyer. The seller gets the better deal.

nimue77 · Aug 9, 2005

Still now answer...

I emailed mansion over and hour ago and asked if ncaa football will be -105 at the sportsbook. Their reply was this:

Hello,
Thank you for your recent email.

There has been a change in pricing offered on our Sportsbook and you may be wondering how to find the same value you have come to expect from MANSION. The good news is, MANSION is still offering the same value by posting these prices through our Sports Exchange.

We have made modifications to our Sports Exchange interface to make it more user friendly for customers who are comfortable buying from a Sportsbook. MANSION Sportsbook, like many other MANSION Sports Exchange members, will offer our low margin / high limit odds through the new Sports Exchange interface. If you are interested only in “buying” a position on an event, the Sports Exchange is simply a new Sportsbook interface with a small fee of only 1% of the win amount per bet. If you would like to have a position on an event at odds that you do not see offered on the Sports Exchange then you may want to join the many MANSION Members who have discovered the benefits of acting as a “seller”.

Try our Sports Exchange – you’ll be glad you did. If you require any assistance we are here to help 24/7.

Thank you for betting with MANSION.

I emailed them back almost immediately to ask again, what will the juice be in the sportsbook on ncaa football. It has been around an hour and no answer...and they almost always reply quicker than this.

SportSavant · Aug 9, 2005

It appears, for the SELLER it is completely FREE.... This will encourage all of us to Be SELLER's.....

My default, this will result in alot of Offers.....

the 'BUYERS' will have to pay the COMMISSION on the 'WIN' amount.....

not quite sure if this is right, but lets say you are a 'BUYER' & you want to make a Bet on a Team that is +800. So you decide to put up 100$ to win 800$..... Forget about wether you win or lose the bet. That is irrelevent, the 'BUYER' has to pay commission in ALL cases it appears.

The way I read it the 'BUYER' has to pay 1% commission on the amount they are trying to WIN.....

So with the example above.... the 'BUYER' would pay an 8.00$ commission. Due to the fact that the 'WIN' amount is 800$.

are you all agreeing with this?

SportSavant · Aug 9, 2005

If -150 means 1510 to win 990, then that is a really -152.525, thats more than 1%

I dont think that is right.....

vanzack · Aug 9, 2005

How are there matching offers on both sides of a game? Look at the SF Giants game = -155 on both sides!!

How is this possible???

cloud79 · Aug 9, 2005

vanzack said:
How are there matching offers on both sides of a game? Look at the SF Giants game = -155 on both sides!!

How is this possible???

I saw the Texas +166 and the Boston -165 earlier, but when i bet on Boston it only becomes an offer. So I think one of those offer is already being taken or withdrawn but Mansion Exchange hasn't update it.

This new exchange is so buggy

vanzack · Aug 9, 2005

cloud79 said:
I saw the Texas +166 and the Boston -165 earlier, but when i bet on Boston it only becomes an offer. So I think one of those offer is already being taken or withdrawn but Mansion Exchange hasn't update it.

This new exchange is so buggy

Its been over an hour with that -155 on both sides up tho?

I guess you are prob right - its a bug - this whole thing is so whacked - dont know what to think at this point....

nimue77 · Aug 9, 2005

According to SBR they may phase out the sportsbook entirely by regular season NFL!!!!!!! That would totally contradict what the mansion employee told me on the phone - specifically that they would have -105 at the SPORTSBOOK this NFL season.

John Buzz...any comments here?

cloud79 · Aug 9, 2005

vanzack said:
How are there matching offers on both sides of a game? Look at the SF Giants game = -155 on both sides!!

How is this possible???

I think I have it figure out, I was the one that offering the Atlanta -155, then I cancel my offer and bets on the SF +155, guess what it went through.

I think it has to do with the Buyer pays the fees and the seller doesn't pay the fees.

Because that the buyer pays the fees. If both the -155 and +155 cancel out each other who is going to pay the fees?

Doug · Aug 9, 2005

This may work by creating a lot of offers or more likely fail by scaring everybody off, at least short-term.

An announcement would have made for a smoother transistion.

nimue77 · Aug 9, 2005

They would be wise to keep the sportsbook around with the -105's at least for a few months, otherwise they will lose alot of people real fast.

DougJ said:
This may work by creating a lot of offers or more likely fail by scaring everybody off, at least short-term.

An announcement would have made for a smoother transistion.

cloud79 · Aug 9, 2005

It still doesn't make sense though, I think I put up the SF +155 first, if the other side wants Atlanta -155 how did he becomes a seller without matching my offer first?