Betfair - Understanding The Odds

When punters first join the Betfair betting exchange just about the most confusing features will be the way 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 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 which gives you 1.5 + your stake which = 1. So 6/4 could be the same as 2.5 about the exchange. If you consider what happens once you place a wining bet having a bookmaker your provide him with your stake money. He places your bet in the agreed odds, say 4/1. If you win he will give you four times your stake A�40 plus your original investment back. On the exchanges you won't ever actually hand over your stake to anyone so naturally it doesn't have to be returned.

The odds around the exchanges tend an average of to get along with 20% above those available from the bookies. On outsiders with larger odds the gap can be considerably greater. Horses priced at 33/1 or 50/1 by bookmakers can often be found at three figure odds for the exchanges.

Although the percentages might be better it has to get offset when your bet or lay is productive you'll need to pay 5% commission. His is generally easily offset with the better prices which 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 the result unlike bookmakers they don't care how many times you win. This means that when you are successful there isn't any danger of experiencing your account closed.

The betting exchanges are growing in importance all over the world and if you're interested in horse racing and betting then you definitely really do need to go surfing and please take a look with the exchanges, especially Betfair.