Betfair - Understanding The Odds

When punters first join the Betfair betting exchange the most confusing features is the manner in which the possibilities are displayed. In the UK conventional bookmakers use fractional odds like 6/4, 2/1, 100/30 or 33/1. On Betfair a decimal odds system is used 2.5, 3.0,4.3 or sboarena 34.0.

You can simply convert fractional odds into decimal 6/4 is 6 divided by 4 giving you 1.5 + your stake which = 1. So 6/4 is the same as 2.5 around the exchange. If you consider what happens whenever you place a wining bet with a bookmaker your supply him with your stake money. He places your bet at the agreed odds, say 4/1. If won by you he gives you four times your stake A�40 as well as your original investment back. On the exchanges you don't ever actually give over your stake to anyone so of course it doesn't have to be returned.

The odds around the exchanges tend on average to get along with 20% higher than those provided by the bookies. On outsiders with larger odds the main difference could be considerably greater. Horses costing 33/1 or 50/1 by bookmakers are frequently available at three figure odds for the exchanges.

Although chances could be better this has to be offset that if your bet or lay is successful you'll 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, i.e. please take a 5% commission from either the backer or layer, no matter the result unlike bookmakers they do not care how frequently won by you. This means that when you are successful there isn't any danger of getting your money closed.

The betting exchanges are growing in importance around the world and if you are enthusiastic about horse racing and betting then you definitely need to use the internet here and take a look at the exchanges, especially Betfair.