MADMARKET
Our rating:
Safety: Unknown (HIGH risk for players)
Madmarket is a new broker in the market. The realistic start of operations is 2024. There is not much information about them on the web, also hard to find reliable user reviews. In fact, you can only find single descriptions/reviews, which are obviously paid for by the broker, since they are all too positive. So we decided to evaluate Madmarket, based on our own experience. We analyzed what they write about themselves, checked the readability of their terms and conditions for predatory provisions and set up our own account on their site to test the quality of service, we also asked a few questions to technical support to verify their competence. Interested in our findings?
Madmarket is managed by Purple Dust ltd and licensed in ANJOUAN, unfortunately this is the weakest possible license in the market, which gives in practice no level of security for players. So it is important to remember that in case of problems we will not be able to turn to the regulator. Of course, a license is not everything, and there are operators who have a high reputation despite low-level licenses, but it is worth noting that they have earned it with years of operation. In the case of new operators on the market, including Madmarket, certainly such licenses are already a problem for the player. This does not disqualify them, but it is worth bearing in mind.
Madmarket has two platforms on offer. Edge and Probet42. Edge is Madmarket’s main product and is a classic and well-known platform on Mollybet software. Another option is Probet42, which is a secondary option to the Edge promoted by the broker. The offer is not large, but sufficient for most players. However, be aware that Madmarket may (but does not have to) reduce the odds on its platform by 0.1-0.2. New brokers that lack liquidity sometimes charge bookies odds with their extra margin. This is certainly not beneficial to players, but this phenomenon occurs in the market and is worth bearing in mind. This can affect long-term profit/loss as well as prevent/hinder arbitrage betting.
Our contact with Madmarket technical support
We asked the broker several questions about their services via email and live chat on the site, 2 months apart. The questions were about rates, markets, setting up an account and several other aspects of their business.
We did not receive, any answer to most of the questions asked. Live chat on the site referred us to writing an email. After writing an email, we received messages that we had to wait for a response (probably sent by an automated machine), these responses from one never came.
In summary, out of 10 questions we received a response to only 2 questions, that is, 80% of the inquiries were completely ignored. The answers to 2 questions were vague and not explanatory.
Creating an account and starting betting
We set up an account. Everything went smoothly and quickly. The time has come to verify KYC (not easy) to deposit and activate your account on the Edge platform. From a technical point of view, everything is fine. However, it seems that they have reduced courses by 0.1-0.3 regarding the initial offer of the main bookmakers from the offer, such as PS3838 or Singbet. We mentioned this before that we should be aware that these courses may be slightly lower.
After some time, it was a payment. And here the problems began. Unfortunately, longtime players of bookmakers certainly know this from autopsy, which is all until the payment is well.
Available payment methods
Madmarket offers payments exclusively through cryptocurrencies. Bitcoin, Ripple, Tether, Litecoin, DAI, Dogecoin, USDC, Cardano, Solana, Ethereum, Tron.
Deposits are free. In contrast, all withdrawals are subject to fees. The minimum withdrawal fee is 2% If you withdraw a second time in a month then the fee increases to 4%. The withdrawal fee can also be higher than the 4% stated above. Madmarket provides the following information on its website: “Please note that while crypto deposits are free, withdrawals are charged a minimum 2% fee. Which can be increased further under certain conditions.”
Minimum deposit is €50, withdrawal is also €50 (excluding Bitcoin, where the minimum withdrawal is €100) Deposits are (declared) processed immediately, while withdrawals are not automated, which can extend the waiting time for withdrawal significantly
Country restrictions
Madmarket does not accept players from a number of countries where gambling is prohibited. Players from the countries listed in the terms and conditions are not allowed to register. If players from these locations open an account with Madmarket, they risk having their account closed and possibly losing their account funds (this is up to the will of the broker). It is also worth remembering that Madmarket does not accept the use of VPN software (this is exceptional, as most brokers allow or even encourage it). Using a VPN also risks account closure, even if your location is accepted by the broker.
Locations prohibited by Madmarket’s terms and conditions include: UK, France, Germany, Spain, Netherlands, USA Afghanistan, Australia, Austria, Democratic Republic of Korea, French Guiana, Kazahstan, Myanmar, as well as a number of European and Asian countries where betting with foreign bookmakers and agents is not legal or regulated.
Bonus
Madmarket offers a welcome bonus of 15% to the first deposit up to a maximum of €150. The awarding of the bonus is not auto-mathematical, and if a player is interested in it, he or she should request the bonus from support upon registration.
In order to get the maximum bonus, which is €150, a player must deposit a minimum of €1,000.
Unfortunately, the turnover requirements for the bonus are not encouraging. The broker requires as much as x10 turnover of the total amount of the bonus and deposit, i.e. with the given example of 1000€+150€ bonus, as much as x10 turnover of the amount of 1150€ is required! The minimum odds are 1.80. If a player places two bets on the same market, only the one with the lower amount counts towards the turnover. Not all bets count towards the turnover.
The bonus doesn’t look very favorable, or rather the terms and conditions behind it. It looks like a classic bonus that will never be paid out. However, we leave the judgment to the players, everyone has a different style of betting, and perhaps for a certain group of players this type of conditions will not be unappealing.
Summary
The market of sports agents is not easy, the player must be very careful not to get into trouble. With brokers, reputation counts even more than with bookmakers. Madmarket does not have a reputation at the moment. For the moment, we advise against opening accounts and betting through Madmarket. There are no reasonable arguments for doing so.
A much better solution is to use the offer of well-known brokers that serve a large number of players. Madmarket at the moment is a website with virtually no traffic, so their liquidity must be very low. We do not cross them out, we will come back to analyze their services in a few months, although they start in a weak way, we hope to improve the quality and security level, always positive to have another option on the market.
Alternatives
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