Betfair - Understanding The Odds

When punters first join the Betfair betting exchange the most confusing features will be the way that the odds are displayed. In the UK conventional bookmakers use fractional odds like 6/4, 2/1, sboarena 100/30 or 33/1. On Betfair a decimal odds strategy 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 that gives you 1.5 + your stake which = 1. So 6/4 could be the same as 2.5 for the exchange. If you consider what goes on when you place a wining bet using a bookmaker your provide him with your stake money. He places your bet in the agreed odds, say 4/1. If won by you he will give you four times your stake A�40 together with your original investment back. On the exchanges you don't ever actually pay your stake to anyone so needless to say it doesn't must be returned.

The odds around the exchanges tend an average of to be around 20% greater than those offered by the bookies. On outsiders with larger odds the real difference could be considerably greater. Horses pricing 33/1 or 50/1 by bookmakers can often be bought at three figure odds around the exchanges.

Although chances may be better this has to become offset when your bet or lay is successful you will need to pay 5% commission. His is generally easily offset through the better prices that you re getting it's not always true when betting on short priced horses.

Because Betfair win, i.e. require a 5% commission from either the backer or layer, no matter what result unlike bookmakers they don't care how frequently you win. This means that when you are successful there isn't any danger of needing your bank account closed.

The betting exchanges are growing in importance around the world and in case you are interested in horse racing and betting then you need to go surfing and have a look on the exchanges, especially Betfair.