Betfair - Understanding The Odds

When punters first join the Betfair betting exchange one of the most confusing features may be the manner in which chances 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 product 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 gives you 1.5 + your stake which = 1. So 6/4 may be the same as 2.5 for the exchange. If you consider what goes on once you place a wining bet having a bookmaker your supply him with your stake money. He places your bet at the agreed odds, say 4/1. If won by you he will give you 4 times your stake A�40 together with your original investment back. On the exchanges you don't ever actually hand over your stake to anyone so obviously no should be returned.

The odds about the exchanges tend normally to get along with 20% higher than those made available from the bookies. On outsiders with larger odds the gap might be considerably greater. Horses pricing 33/1 or sboarena 50/1 by bookmakers is often bought at three figure odds about the exchanges.

Although the chances could possibly be better it has to become offset that when your bet or lay is prosperous you will need to pay 5% commission. His is generally easily offset through the better prices that you just re getting it's not 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 cannot care how often won by you. This means if you are successful there is absolutely no danger of needing your bank account closed.

The betting exchanges are growing in importance worldwide and in case you are interested in horse racing and betting then you definitely do need to use the internet here and have a look in the exchanges, especially Betfair.