Betfair - Understanding The Odds

When punters first join the Betfair betting exchange the most confusing features is the manner in which the odds 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 method 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 is the same as 2.5 on the exchange. If you consider what happens when you place a wining bet with a bookmaker your give him your stake money. He places your bet in the agreed odds, say 4/1. If you win he gives you 4 times your stake A�40 along with your original investment back. On the exchanges you never actually give over your stake to anyone so naturally it doesn't need to be returned.

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

Although chances could possibly be better this has to become 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 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, whatever the result unlike bookmakers they just don't care how often shipped to you. This means if you are successful there's no danger of having your bank account closed.

The betting exchanges are growing in importance all over the world and should you be enthusiastic about horse racing and betting then you certainly need to go surfing and require a look with the exchanges, especially Betfair.