Betfair - Understanding The Odds

When punters first join the Betfair betting exchange the most confusing features could be the method that the odds are displayed. In the UK conventional bookmakers use fractional odds like 6/4, 2/1, sbobet 100/30 or 33/1. On Betfair a decimal odds system 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 which gives you 1.5 + your stake which = 1. So 6/4 is the same as 2.5 about the exchange. If you consider how are you affected once you place a wining bet using a bookmaker your provide him with your stake money. He places your bet at the agreed odds, say 4/1. If won by you he will give you four times your stake A�40 along with your original investment back. On the exchanges you don't ever actually give over your stake to anyone so naturally it doesn't need to be returned.

The odds about the exchanges tend an average of to be around 20% higher than those made available from the bookies. On outsiders with larger odds the gap might be considerably greater. Horses costing 33/1 or 50/1 by bookmakers are frequently found at three figure odds around the exchanges.

Although chances could possibly be better it has to be offset if your bet or lay works you'll have to pay 5% commission. His is generally easily offset through the better prices that you just re getting this is simply not always true when betting on short priced horses.

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

The betting exchanges are growing in importance all over the world and in case you are thinking about horse racing and betting then you definitely really do need to go online and have a look in the exchanges, especially Betfair.