FAQs
Your Account
Do I need an account to bet with Matchbet?
Yes, you must have a Matchbet account before you can place a bet with
us, but opening one is quick and easy to do.
How do I open an account with Matchbet?
Opening an account with Matchbet is easy! Simply fill in your details
on our Registration Page, click 'Submit,' and we'll email you once
we've set up your account. You can see a step-by-step guide to
registering
here
Why do you need my personal details?
Matchbet is legally obliged to store your personal details by the UK
Gambling Act 2005. We also use the details you give us to ensure that
we only allow responsible adults with adequate sources of funding to
use our Exchange, making the process safer for everyone. When you
register with us we will verify your age, identity, address and credit
history to ensure.
How do you verify my identity?
Matchbet uses GB Group's market leading URU software to verify the age
and identity of anyone who registers to use the Matchbet Exchange.
Matchbet are legally required to ensure that our users are all
responsible adults with adequate sources of funding. Matchbet reserves
the right to refuse an account to any individual, regardless of whether
or not that individual has passed the identity checks we have in place.
What happens if I've forgotten my username or password?
If you forget your username or password, please
contact us and we will be able
to remind you of your username and reset your password. We suggest that
you choose a password of between 8-20 characters, using both number and
letters, and that you change it every 3-6 months.
How do I change my password myself?
Changing your password is very straight-forward. Simply click on Change
Password in the Preferences panel. You will be asked to enter your old
password, and to confirm the new password you've chosen twice. For more
information on this please see our detailed
How To Pages
When will I be asked for the answers to my security question?
You may be asked to confirm your security questions in a number of
circumstances, and either online or via telephone. The questions are
your guarantee that no-one else can access your account and help us to
make sure that your details are stored securely. Matchbet will never
ask you for your password or security questions by email.
What should I do if I can’t log in to my account?
If you have any problems logging into your account you should
contact us
When do I need to deposit funds?
You do not need to deposit funds with Matchbet when you open your
account with us, but you will need to do so before you are able to
place a bet. Matchbet does not offer credit to any of its users; in
order to place a bet you must have sufficient funds in your account to
cover it and Matchbet will secure these funds until the result is
determined and the winner is paid.
Can I set a deposit limit on my account?
You can set a deposit limit on our account by opening the Preferences
panel and selecting the amount you wish your limit to be. This limit
will apply to a 24 hour period, so you will be deciding the maximum
amount of money you can put into your Matchbet betting account in any
24 hour period.
Users should be aware that withdrawals do not affect the deposit limit,
so if you withdraw funds the amount will not be deducted from the
amount you have deposited. For more information on this please consult
our detailed
How To pages
If you choose to decrease your deposit limit, the change will take
place immediately. Should you request an increase, however, there will
be a 24 hour wait before the increase is applied; this is legally
required of Matchbet and is part of our commitment to Responsible
Gambling. Once your request to increase your limit has been authorised
by Matchbet you will receive a message and be asked to confirm that you
still wish to change your limit.
Can I set an exposure limit on my account?
You can set an exposure limit on our account by opening the Preferences
panel and selecting the amount you wish your limit to be. This limit
will apply to a 24 hour period, so you will be deciding the maximum
amount of money you can put at risk in any 24 hour period. This limit
exists so that you can limit the amount you lose. For more information
on this please consult our detailed
How To pages
If you choose to decrease your exposure limit, the change will take
place immediately. Should you request an increase, however, there will
be a 24 hour wait before the increase is applied; this is legally
required of Matchbet and is part of our commitment to Responsible
Gambling. Once your request to increase your limit has been authorised
by Matchbet you will receive a message and be asked to confirm that you
still wish to change your limit.
How can I review my betting?
You can review the bets you have placed In the Account panel in the
bottom left-hand corner of the screen. Using the Bets panel you can
choose to view all the bets you have placed, or select a specific type
(for example, matched bets only). You can also select how many bets
you're shown or search for information by Bet ID.
In the Bets panel you will be able to see all available information
about any bets you have placed, including their current status.
You will also find your Statement in the Account panel, and here you
can see both your account balance, and the amount won or lost on any
particular bet. You choose the date range that you wish to view
yourself. This panel will also tell you what your global exposure is.
For further information on either the Bet or Statement panel please see
our
How To pages
Am I gambling too much?
Matchbet is committed to encouraging responsible gambling and would
like to help you if you feel you may be gambling too much. Please see
our information on
Responsible Gambling which
contains guidance on where you can find advice and assistance.
If you would like to ensure that you cannot bet using the Matchbet
Exchange for a given period of time you may self-exclude.
Self-exclusion means that your Matchbet account will be closed for a
minimum period of six months and won't be opened again under any
circumstances until the end of the exclusion period.
If you wish to self-exclude please
contact us
How do I put money into my account?
There are a number of different ways you can fund your Matchbet
account. The easiest way is to use your debit or credit card as this is
instantaneous, but we also accept bank transfers as long as you let us
know by email. We do accept cheques, but you would need to
contact us if you wished to
credit your account in this way.
You can even put money into your Matchbet account if you
don’t have a bank account, using one of our payment
providers, Ukash. You can find out more about each of these methods on
our
Credit your Account.
How do I change or de-register a credit or debit card?
In order to protect ourselves and our users from the potential for
money laundering, Matchbet does not allow you to automatically
de-register or change the credit or debit card you use to fund your
Matchbet account.
If you need to do this for any reason, you should
contact us and we will enable
you to do so.
Which credit and debit cards does Matchbet accept?
Matchbet accepts payments from Visa and Mastercards. If you have a card
of another type please see our
Credit your Account for guidance on other methods of crediting your account.
What can I do if my card deposit has been declined?
If your card deposit has been declined it means your bank or card
provider has declined the transaction. They won’t give
Matchbet a specific reason so we can only suggest that you contact them
or use an alternative payment method. You can find information on all
payment methods in our
Credit your Account.
How do I withdraw funds?
At the moment in order to withdraw funds you should contact
Matchbet
and we will send
you a cheque or make a bank transfer. When you do this you will be
asked your security questions and will need to confirm details we have
on file for you in order that we can ensure we’re sending
funds to the correct person.
We are currently working on implementing credit card payment and
withdrawal mechanisms and hope to have these in place very soon. Users
will then be able to withdraw funds directly from their betting account.
Which currencies can I use in Matchbet?
At the moment Matchbet will only accept bets in pounds sterling.
Using the Matchbet Exchange
What is a 'back' bet?
A back bet is a bet on something to happen, ie. for a football team to
win a match or a horse to win a race.
What is a 'lay' bet?
A lay bet is a bet on something not to happen, ie. for a football team
not to win a match or a horse not to win a race. In the case of a
football match, a lay bet on a team would be successful if the other
team won or if the result was a draw.
What is trading?
Trading is an activity which would be almost impossible in an ordinary
bookmaker's shop. It is having more than one bet on a market and
seeking to improve your position.
How do I place a bet?
Placing a bet on the Matchbet Exchange is very straight-forward. Simply
choose the event you wish to bet on from the selections on the
left-hand side of your screen then highlight the result you want to bet
on. Once you have chosen an outcome, for example Manchester United to
win, the Place Bet panel in the bottom right-hand of the screen will
show the details of your bet. You can choose how much you want to bet
and then submit it.
For detailed guidance on how to place more complicated types of bet
please see our
Place a Bet.
How do I know when my bet is matched?
To find out whether or not your bet has been matched you can look in
your Bet Statement. On the left-hand side of this panel you will be
shown the status of your bet ie. matched, open, pulled. If your bet has
been partially matched you will be able to see what percentage of it is
still open.
For more details on the information you can find in your Bet Statement,
please see our
Read your Statement.
How do I find the market I want to bet on?
When you log into the Matchbet Exchange you will see an event tree in
the top right hand corner of the screen. This is a list of all the
different events on which Matchbet is offering bets, for example
football, tennis and politics. Clicking on one of these events will
bring up a list of fixtures/markets and you can then choose which you
want to bet on.
How much do I have to bet?
The minimum bet you can place is £1.
How do I choose my odds?
A crucial advantage of the Matchbet Exchange is that you can request
better odds if you don't like the ones we're offering. You can use the
Place Bets panel to enter the odds you would like. Your bet will be
accepted, but if the odds you've requested are not already available in
the Exchange it won't be matched. If we don't match your bet it will
remain in the Exchange as an offer until either someone accepts it or
you remove it.
Users who have unmatched (open) bets in the Exchange should be aware
that it is their responsibility to monitor them. If an event takes
place which affects your bet Matchbet will not cancel it. For example,
if you have placed a bet on Chelsea to win the Premiership at the
beginning of the season and the bet has not yet been matched, you
should be careful to make sure that you cancel your bet if
circumstances change. For more guidance on this please see our detailed
How To pages (link to How To list page).
What are Decimal Odds?
Odds on the Matchbet Exchange are displayed as Decimal Odds; this is
why our odds look different from the fractional odds that you might see
in a high-street betting shop. Decimal Odds include your stake as part
of the total return, so if you bet £10 at odds of 3.0 then
your return will be £30. In a traditional bookmakers shop,
these odds would be displayed as 2/1, returning to you your winnings of
£20 and your stake of £10.
The advantage to using Decimal Odds is that they are simpler to use and
allow Matchbet to offer many more prices. You can convert our Decimal
Odds to Fractional Odds using our Conversion Chart.
Can I cancel a bet?
You can cancel any bet which is open (unmatched) simply by highlighting
the bet in your Bet Statement and pressing 'Cancel bet'. You can't
cancel a bet which has already been matched, but if your bet has been
partially matched you can cancel any part of it which hasn't been
matched.
What happens to unmatched bets at the close of an event?
Any unmatched bets will be automatically cancelled by Matchbet when an
event closes for betting.
When will my bet be settled?
Matchbet will settle all markets as quickly as possible. Events on the
Matchbet Exchange are usually settled shortly after they end, but we
take our responsibility to our users very carefully and ensure that we
have official confirmation of results on all occasions. This can take
time in some cases, for example when there is some dispute over the
result.
Matchbet will take all reasonable measures to ensure that it obtains
the correct, official result before settling a market but in the event
that a market has been settled and the result is then changed, we will
reverse and correct the settlement to ensure we are being fair to our
users.
What can I do if there is an event I wish to bet on which is not available?
Please feel free to
contact us if you would like
to bet on an event or market which is not available on the Matchbet
Exchange. We can make no guarantee that we will satisfy your request,
but we are keen to hear of ways to improve the betting experience we
offer.
What happens to my bet if an event is postponed or cancelled?
If an event is cancelled all bets are void. What happens to a bet when
the event you're betting on is postponed will depend upon what sort of
event it is. You can find out what happens for different event on our
Rules Page. Users
should check the Matchbet Rules regularly as they may change from time
to time.
How is my commission calculated?
Matchbet charges commission on all winning bets, so if your bet loses
you won’t be charged anything. If your bet wins we, like
other betting exchanges, will take a percentage of the winnings as
commission and you will receive winnings net of that.
The default commission is 5% but from time to time this may change and
it may vary depending upon the event. You should always make sure you
are aware of any changes to the
Matchbet Rules as these specify
what commission we will be charging. You will always be able to see how
much commission you were charged in your Account Statement.
What happens if I have a complaint?
If you have a complaint of any sort please
contact us in the first
instance and we will do everything we can to help to resolve it.
