Betfair - Understanding the Odds
When punters first join the Betfair betting exchange the most confusing features may be the method that the possibilities are displayed. In the UK conventional bookmakers use fractional odds for example 6/4, 2/1, 100/30 or 33/1. On Betfair a decimal odds system is used 2.5, 3.0,4.3 or 34.0.
You can easily convert fractional odds into decimal 6/4 is 6 divided by 4 which gives you 1.5 + your stake which = 1. So 6/4 could be the same as 2.5 on the exchange. If you consider how are you affected if you place a wining bet having a bookmaker your give him your stake money. He places your bet in the agreed odds, say 4/1. If won by you he provides you with 4 times your stake A�40 as well as your original investment back. On the exchanges you don't ever actually pay your stake to anyone so obviously it doesn't should be returned.
The odds on the exchanges tend on average to be around 20% higher than those available from the bookies. On outsiders with larger odds the difference might be considerably greater. Horses priced at 33/1 or 50/1 by bookmakers is frequently bought at three figure odds around the exchanges.
Although the percentages could be better it has to become offset that when your bet or lay is successful you will need to pay 5% commission. His is generally easily offset by the better prices that you just re getting this is simply not always true when betting on short priced horses.
Because Betfair win, sboarena i.e. please take a 5% commission from either the backer or layer, whatever the result unlike bookmakers they cannot care how often won by you. This means that when you are successful there is absolutely no danger of experiencing your bank account closed.
The betting exchanges are growing in importance around the globe and in case you are interested in horse racing and betting you then really do need to use the internet here and have a look at the exchanges, especially Betfair.
You can easily convert fractional odds into decimal 6/4 is 6 divided by 4 which gives you 1.5 + your stake which = 1. So 6/4 could be the same as 2.5 on the exchange. If you consider how are you affected if you place a wining bet having a bookmaker your give him your stake money. He places your bet in the agreed odds, say 4/1. If won by you he provides you with 4 times your stake A�40 as well as your original investment back. On the exchanges you don't ever actually pay your stake to anyone so obviously it doesn't should be returned.
The odds on the exchanges tend on average to be around 20% higher than those available from the bookies. On outsiders with larger odds the difference might be considerably greater. Horses priced at 33/1 or 50/1 by bookmakers is frequently bought at three figure odds around the exchanges.
Although the percentages could be better it has to become offset that when your bet or lay is successful you will need to pay 5% commission. His is generally easily offset by the better prices that you just re getting this is simply not always true when betting on short priced horses.
Because Betfair win, sboarena i.e. please take a 5% commission from either the backer or layer, whatever the result unlike bookmakers they cannot care how often won by you. This means that when you are successful there is absolutely no danger of experiencing your bank account closed.
The betting exchanges are growing in importance around the globe and in case you are interested in horse racing and betting you then really do need to use the internet here and have a look at the exchanges, especially Betfair.
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