The % of your Match bonus goes straight into your stats; though you won't see it on your stat pages. The amount you can boost drops by 1% each level you gain. But the cost goes up. Both teams can boost (use match bonus) in Champ series games and Tournament games. Only the challenger can boost in Guild challenges. No boosting in friendlies or on the Match map.
According to the developers of the game it adds an element of randomness to matches. At its most basic it keeps money spenders playing the game.
It is good to know who will boost you because you can then decide whether you want to boost back; to protect yourself from injuries, for one. But there is no way of knowing if someone will boost you before the game. Except by their reputation.