MatchMe: New Exchange Tool For Back Bets From Betfair
More and more people are now using betting exchanges to bet on sports due to the better odds you can find and the ability to lay bets as well as back them. One of the biggest frustrations when using exchanges, however, is having bets fully or partially unmatched, meaning you either need to edit your stakes, cancel your bet or accept lower stakes.
The MatchMe feature from Betfair seeks to make it easier to get wagers fully matched by using a tolerance scale that means bets can be matched at a pre-determined range of odds. This tool is most useful for markets that move fast with volatile odds, such as in-play betting, or markets with low liquidity such as more minor sports and events and ante-post bets.
MatchMe works to find you the best odds available at your desired stake if the odds reduce. It does, however, also work alongside Best Price Execution meaning if the odds move in your favour you will automatically get the better odds too.
The tool is only available for back bets and of course means you may have to except lower odds, but at the same time it means you can get bets matched on fast moving markets with far less hassle. For more about the odds bands and how the parameters work read on.
|Odds Range||Odds Increment|
|1.01 - 2.0||0.01|
|2.0 - 3.0||0.02|
|3.0 - 4.0||0.05|
|4.0 - 6.0||0.1|
|6.0 - 10.0||0.2|
|10.0 - 20.0||0.5|
|20.0 - 30.0||1.0|
|30.0 - 50.0||2.0|
|50.0 - 100.0||5.0|
|100.0 - 1000.0||10.0|
Betfair use a classic odds ladder that defines increments for each odds band (see table above).
The smart logic system means that if you select a price it can move by so many increments within each band, as outlined here:
- Odds of 1.01 to 1.1 will not be matched lower
- Odds of 1.1 to 1.3 can move up to five increments within the ladder
- Odds of 1.31 to 10 can move up to ten increments within the ladder
- Odds of 10 to 1000 can move up to five increments within a ladder
If the odds decrease out of these ranges then the bet is then treated as a normal wager and will then go onto the market to be matched at the original odds you selected.
MatchMe is switched off by default but can be toggled on in the bet slip or through settings and price options. It is available via the desktop site, mobile site and app and includes all traditional style bets but not markets such as Asian Handicaps.
Next we look at some examples of how this might influence your bet.
We will look at one example in each of the four odds bands to illustrate how the tool works. It is important to remember this is designed to cover you for odds dropping, if the odds increase your bet will be matched at the higher odds through the Best Price Execution feature at the higher price.
Odds Band 1.1 - 1.3
Here the odds can potentially move up to 5 increments and as the entire band lands falls within the first rung on the odds ladder it means the odds can move by a maximum of 0.05.
If you placed a bet at 1.25, for example, the lowest possible price that will be automatically matched is 1.20 - this is a 20% drop in return. The highest possible change in returns is 45% with the average maximum drop within the band being 27%.
Odds Band 1.31 to 10
Odds here can move up to ten increments and this time the odds band covers different rungs of the odds ladder so there is a little bit more to consider.
If you have odds from 1.31 to 2 the increments will be 0.01, 2 to 3 will be 0.02, 3 to 4 will be 0.05, 4 to 6 will be 0.10 and 6 to 10 would be 0.20. Here is how this would apply to the following examples:
- If you placed a bet at 1.5 the odds could move a maximum of 0.1 (0.01 x 10), therefore 1.40 would be the lowest possible match.
- Placing a bet at odds of 2.5 means the odds could move down to a maximum of 0.2 (0.02 x 10), therefore 2.3 would be the lowest.
- A wager placed at 3.5 can move a maximum of 0.5 (0.05 x 10), with 3.0 being the lowest in this case.
- A market prices at 5.0 could move 1.0 (0.1 x 10), 4.0 being the bottom level in this instance.
- Place a bet at 7.5 and this can move up to 2.0 (0.2 x 10), therefore 5.5 would be the lowest odds you would receive through MatchMe.
The maximum possible return change in this band is 38% with an average maximum chance of 19%
Odds Band 10 - 1000
Increments here vary from 0.5 to 10 and there can be a maximum of five movements. If you back at odds of 10 to 20 the increments are 0.5, 20 to 30 is 1.0, 30 to 50 is 2.0, 50 to 100 is 5.0 and 100 to 1000 is 10.0. Again the examples below show how this may apply:
- Backing at odds of 15.0 could see your bet move up to 2.5 (0.5 x 5), i.e 12.5 is the lowest.
- Picking a selection at 25.0 can see a bet move up to 5.0 (1.0 x 5), meaning here the lowest price would be 20.0.
- A bet at 40.0 can move down a maximum of 10.0 (2.0 x 5), lowest here being 30.0.
- A 75.0 bet could reduce up to 25.0 (5.0 x 5), making the lowest possible match here 50.0.
- Finally a bet at 500.0 can go down up to 50.0 (10.0 x 5), the lowest odds in this case being 450.0.
The maximum possible return change in this band is 46% with an average maximum chance of 16%
Why Use MatchMe?
The idea of the MatchMe tool is to work in conjunction with Best Price Execution, in fact you have to have that enabled to use MatchMe. It is most useful to punters that bet on fast moving or low liquidity events who want to ensure all of their bet is matched first time without the annoyance of having to edit stakes, cancel bets entirely or accept a lower match.
You have to accept that by using this tool you are accepting lower odds if the market drops while placing your bet. In the majority of circumstances the odds will not move by the maximum allowed and your bet will be matched at the price you selected, higher if it has increased or lower up to the maximum threshold using MatchMe.
Therefore it is not a tool for everyone, especially those that want to match bets at specific odds, but largely it will suit most customers and bets. The feature is particularly useful in play where markets are influenced rapidly and it can be difficult to match bets at the stake you want.
MatchMe only applies to back bets. If you want to lay a bet you have to do so using the traditional system, propose your odds and liability and try to get it matched.