Betfair - Understanding The Odds

When punters first join the Betfair betting exchange the most confusing features may be the method in which the odds are displayed. In the UK conventional bookmakers use fractional odds such as 6/4, 2/1, 100/30 or 33/1. On Betfair a decimal odds product is used 2.5, 3.0,4.3 or 34.0.

You can readily convert fractional odds into decimal 6/4 is 6 divided by 4 that gives you 1.5 + your stake which = 1. So 6/4 may be the same as 2.5 around the exchange. If you consider what happens when you place a wining bet using a bookmaker your provide him with your stake money. He places your bet with the agreed odds, say 4/1. If won by you he provides you with 4 times your stake A�40 plus your original investment back. On the exchanges you won't ever actually give over your stake to anyone so of course no must be returned.

The odds on the exchanges tend typically to be around 20% more than those provided by the bookies. On outsiders with larger odds the real difference can be considerably greater. Horses priced at 33/1 or 50/1 by bookmakers are frequently bought at three figure odds for the exchanges.

Although the percentages might be better this has to be offset that when your bet or lay is successful you'll need to pay 5% commission. His is generally easily offset with the better prices which you re getting this is not always true when betting on short priced horses.

Because Betfair win, i.e. please take a 5% commission from either the backer or layer, whatever the result unlike bookmakers they don't care how frequently shipped to you. This means when you are successful there is no danger of getting your bank account closed.

The betting exchanges are growing in importance all over the world and sboarena in case you are interested in horse racing and betting then you definitely should use the internet and please take a look in the exchanges, especially Betfair.