Betfair - Understanding The Odds

When punters first join the Betfair betting exchange probably the most confusing features is the method that the odds are displayed. In the UK conventional bookmakers use fractional odds including 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 readily convert fractional odds into decimal 6/4 is 6 divided by 4 which provides you 1.5 + your stake which = 1. So 6/4 could be the same as 2.5 about the exchange. If you consider how are you affected if you place a wining bet using a bookmaker your provide him with your stake money. He places your bet at 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 naturally this doesn't have to be returned.

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

Although chances could be better it's to get offset that if your bet or lay is productive you will need to pay 5% commission. His is generally easily offset from 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, regardless of the result unlike bookmakers they don't care how many times you win. This means that if you are successful there is no danger of experiencing your bank account closed.

The betting exchanges are growing in importance all over the world and should you be interested in horse racing and betting you then need to use the internet here and please take a look in the exchanges, sbobet especially Betfair.