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  #1 (permalink)  
Old 06-21-2007, 06:31 PM
Rogthedodger Rogthedodger is offline
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Default Tradesports Changes Commission Structure

TradeSports.com will launch an entirely new fee structure on Wednesday, 27th June 2007*.

Gone are the old Trading and Expiry Fees, to be replaced with a simple 4% commission on your profits.

Here are the details:



Our current Trading and Expiry Fees will be discontinued.
A new simple commission of 4% will apply to net profits on any market, where a market can be a single contract or a group of linked contracts.
Trading profits before the expiry of an event may generate a commission, but it will be your overall net profit on settlement of the event that will dictate your net commission payable.


Just like Matchbook, TS will charge a flat fee on in-running profits. But the fee is 4%, which is DOUBLE what Matchbook charges all games.
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Last edited by Rogthedodger : 06-27-2007 at 01:02 PM. Reason: New info on pregame trade fee %.
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Old 06-21-2007, 06:39 PM
stevo stevo is offline
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Fukin blows.

Glad I'm more in Matchbook.
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Old 06-21-2007, 06:45 PM
j j is offline
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Good Lord! At that rate you might as well bet at a book.

For horses, fine. For multiway bets, fine. For whatever asian handicaps are, fine. For pointspread sports? Good Lord!
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Old 06-21-2007, 06:50 PM
Rogthedodger Rogthedodger is offline
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Default Press Release

Today, Tradesports announced they are adopting a new commission structure. Bettors placing wagers before they start of an event previously enjoyed zero fees at expiry. However, bettors trading in-game often experienced inflated fees when betting in to large moneylines (higher than -150). No more. Tradesports has decided to structure their fees the same as Matchbook.com----a flat fee of 4% on any profits at expiry. Bettors have been contacting Tradesports about offering a flat fee on profits only for years, but it was unexpected that Tradesports would choose to charge double the percentage charged by Matchbook.com, a major competitor. Here is a copy of an e-mail sent out by Tradesports:

TradeSports.com will launch an entirely new fee structure on Wednesday, 27th June 2007*.

Gone are the old Trading and Expiry Fees, to be replaced with a simple 4% commission on your profits.

Here are the details:

Our current Trading and Expiry Fees will be discontinued. A new simple commission of 4% will apply to net profits on any market, where a market can be a single contract or a group of linked contracts. Trading profits before the expiry of an event may generate a commission, but it will be your overall net profit on settlement of the event that will dictate your net commission payable.


06-21-2007
David Stalcup
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http://www.majorwager.com/frontline-520.html
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Old 06-21-2007, 10:04 PM
icedog44 icedog44 is offline
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hate to look like the shill here .....

but 4% profit tax is MUCH better than what tradesports has currently .....

so the title of this thread is very misleading

Tradesports gets 50% if my action, and this move was long overdue ..... as the current fee structure is HORRIBLE ..... this is a drastic improvement

Granted .... when you compare it to the 2% matchbook profit tax ..... it obviously doesnt match up ......

but based on CURRENT tradesports fees .... this is in NO WAY "jacked up commission"

You still get no pre-event fees which is nice
and still a better in-running schedule than matchbook

I use both ..... and this is a GOOD THING for tradesports .... the old structure with .05 and .10 expiry made many contracts untradable
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Old 06-21-2007, 10:15 PM
j j is offline
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ice...what contracts do you find the most tradable there?
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Old 06-21-2007, 10:24 PM
icedog44 icedog44 is offline
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J ...

If we are to assume intrade and tradesports are the same company despite the "split"

then in addition to a very nice daily IN RUNNING schedule (which is what i stick to) ..... and usually 8-10 games on a college football saturday

you also got your political stuff, financials (although liquidity has admittedly been an issue, and entertainment contracts)

while I prefer to stick to IN RUNNING events ..... if you simply want to place a bet on a baseball or basketball game or whatever .... the vig is gonna be .03 to .04 lower MOST of the time (vs a standard dime line)
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Old 06-21-2007, 11:20 PM
Rogthedodger Rogthedodger is offline
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Tradesports' e-mail made no mention of keeping the 0% fees for pregame trades. Obviously, I assumed that their e-mail stating that ALL PROFITS from contracts would be taxed at 4% was correct. I'm told that is not true, and that pregame trades would remain fee-free. Yes, the fees they charge for in-game betting is horrendous and this change is a vast improvement. But if they were ALSO charging 4% for pregame trades then that would indeed have been jacking up the fees, as a whole. I changed the thread title.......

FYI, all games trade live---every game that is offered pregame. Some are broken out separately and called "featured games." But EVERY game on the board is open for trading until closed for expiry when the game ends.
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Old 06-21-2007, 11:24 PM
j j is offline
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ice...I"m a little confused...at 4% I'm going to have to bet roughly $104 to win $100, so that's -104 right there. Then the market is at least three cents wide, no? So that's going to push it to over a dime line.

I played briefly at TradeSportsX and admit it's been a while since I looked at the TS lines, but as I remember they tended to be four to six cents wide at best. Let me know if it's different now. Maybe it's time that I take another look.

BTW, do they take U.S.-based business these days?
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Old 06-21-2007, 11:47 PM
Rogthedodger Rogthedodger is offline
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j---yes they take Americans. And pregame trades are apparently going to stay fee-free so it's +100. And no, the market isn't always 3 cents wide (sometimes more, sometimes less).

Check out Tradebetx.com to see Tradesports' lines in traditional American ML format.
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Old 06-21-2007, 11:54 PM
icedog44 icedog44 is offline
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J

if you bet PRE-GAME ..... which I assume is what you are talking about ...... then if you pay 51 per contract (or -104 in moneyline terms) ..... then thats what you pay ..... you dont have to pay fees if you win or lose

usually ..... youll find that the -104 is fairly competitive as many other outlets may have the same game at -107 or -108 (or whatever the case may be .... sometimes more ...... sometimes less .... the point was the vig is competitive)

if you bet AFTER the game has started (assuming the same price -104 or 51 a share) .... then your fees are 4% of NET WINNINGS ..... so if you make 100 that that game .... you give back 4$ in fees ...... lets say you make a few trades in the game ..... and on one trade you win 100 ..... and on the other you lose 150 ..... since your net is MINUS 50 .... you pay no fees

you pay 4% on WINNINGS ONLY (after event has started)
and ZERO fees on anything bet PRE-EVENT

and they are indeed US friendly .... and most importantly ... no payment issues in 5+ years
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Old 06-22-2007, 12:04 AM
stevo stevo is offline
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My comments were based thinking they took away the free pregame. Id fthey havent done that cool. Still very viable. Really good customer service from people you can undertand.

I've been a big supporter of Tradesports on here and never had a problem with them in 5 years.

Glad to hear pregame hasnt changed
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Old 06-22-2007, 12:33 AM
skilled27 skilled27 is offline
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I think I may give tradsports a try. I need more ingame action. That is where I shine. Getting a feel for the game then calling what I see.

Matchbook and WSEX just don't have enough of the in progress games.

icedog is the liquidity ok for ingame stuff? what about the average baseball game, is it highly traded? Or is just the featured stuff really liquid?
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Old 06-22-2007, 12:37 AM
BettingProphets BettingProphets is offline
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betfair cant be beat too bad you Yanks cant play there
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Old 06-22-2007, 12:52 AM
stevo stevo is offline
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Thanks for reminding us will you find me a beard?
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Old 06-22-2007, 01:05 AM
icedog44 icedog44 is offline
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skilled .....

on Featured games ..... liquidity is good

non-featured .... forget it

so just stick to the in-running schedule which is listed and the liquidity is fairly solid

you will find that the market-making can be annoying at times ..... especially in basketball

but for baseball and football where there is time between plays ..... the markets run pretty smoothly

tradesports is kinda like a craps table ..... where the 1st time you see it ..... you have no clue what the F^%& is going on

but the reality is ..... its not that complicated
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Old 06-22-2007, 01:08 AM
stevo stevo is offline
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I still use the old platform with no chat. Cant stand the scrollling babbling.

I only need the #s. nothing flashy like chat.

So you can change it for those who dont like the Jazzy CNBC look they have now.
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Old 06-22-2007, 07:02 AM
jjgold jjgold is offline
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Tradesports is pure crap

stay away
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Old 06-22-2007, 10:03 AM
j j is offline
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ice...I hadn't realized there was no fee on pre-event betting. I take your point that their lines are competitive and thank you for setting me straight.
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