Betfair - Understanding The Odds

When punters first join the Betfair betting exchange just about the most confusing features will be the method that chances 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 easily convert fractional odds into decimal 6/4 is 6 divided by 4 giving you 1.5 + your stake which = 1. So 6/4 may be the same as 2.5 around the exchange. If you consider how are you affected if you place a wining bet having a bookmaker your provide him with your stake money. He places your bet on the agreed odds, say 4/1. If you win he gives you 4x your stake A�40 along with your original investment back. On the exchanges you never actually pay your stake to anyone so of course it does not should be returned.

The odds on the exchanges tend on average to be around 20% above those provided by the bookies. On outsiders with larger odds the difference could be considerably greater. Horses costing 33/1 or 50/1 by bookmakers are frequently bought at three figure odds about the exchanges.

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

Because Betfair win, i.e. take a 5% commission from either the backer or layer, regardless of the result unlike bookmakers they don't care how frequently you win. This means when you are successful there is no danger of having your closed.

The betting exchanges are growing in importance around the globe and in case you are enthusiastic about horse racing and betting then you definitely really do need to use the internet and take a look in the exchanges, sboarena especially Betfair.