Betfair - Understanding The Odds

When punters first join the Betfair betting exchange probably the most confusing features may be the method that the possibilities 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 product is used 2.5, 3.0,4.3 or 34.0.

You can simply convert fractional odds into decimal 6/4 is 6 divided by 4 which provides you 1.5 + your stake which = 1. So 6/4 could be the same as 2.5 around the exchange. If you consider how are you affected whenever you place a wining bet having a bookmaker your provide him with your stake money. He places your bet on the agreed odds, say 4/1. If won by you he gives you four times your stake A�40 together with your original investment back. On the exchanges you don't ever actually give over your stake to anyone so obviously this doesn't should be returned.

The odds around the exchanges tend on average to be with 20% higher than those available from the bookies. On outsiders with larger odds the real difference can be considerably greater. Horses coming in at 33/1 or 50/1 by bookmakers can often be available at three figure odds for the exchanges.

Although the odds might be better it has to become offset when your bet or lay is prosperous you will have to pay 5% commission. His is generally easily offset with the better prices that you re getting this is not always true when betting on short priced horses.

Because Betfair win, i.e. take a 5% commission from either the backer or sboarena layer, no matter what result unlike bookmakers they just don't care how many times won by you. This means that when you are successful there is no danger of having your bank account closed.

The betting exchanges are growing in importance around the world and if you are interested in horse racing and betting then you certainly need to go online and please take a look in the exchanges, especially Betfair.