Betfair - Understanding The Odds

When punters first join the Betfair betting exchange just about the most confusing features is the manner in which chances displayed. In the UK conventional bookmakers use fractional odds including 6/4, sbobet 2/1, 100/30 or 33/1. On Betfair a decimal odds strategy is used 2.5, 3.0,4.3 or 34.0.

You can easily convert fractional odds into decimal 6/4 is 6 divided by 4 which provides you 1.5 + your stake which = 1. So 6/4 will be the same as 2.5 around the exchange. If you consider how are you affected 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 you win he provides you with four times your stake A�40 together with your original investment back. On the exchanges you won't ever actually pay your stake to anyone so obviously this doesn't have to be returned.

The odds around the exchanges tend on average to be with 20% greater than those made available from the bookies. On outsiders with larger odds the gap can be considerably greater. Horses pricing 33/1 or 50/1 by bookmakers is frequently purchased at three figure odds around the exchanges.

Although the percentages could be better it is to be offset that when your bet or lay works you'll need to pay 5% commission. His is generally easily offset with the better prices that you re getting it's 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 frequently you win. This means when you are successful there is absolutely no danger of experiencing your money closed.

The betting exchanges are growing in importance around the world and if you are considering horse racing and betting you then need to go online and have a look with the exchanges, especially Betfair.