Betfair - Understanding The Odds

When punters first join the Betfair betting exchange the most confusing features could be the way 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 system is used 2.5, sboarena 3.0,4.3 or 34.0.

You can simply 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 what goes on once you place a wining bet having a bookmaker your provide him your stake money. He places your bet in the agreed odds, say 4/1. If won by you he gives you 4x your stake A�40 together with your original investment back. On the exchanges you don't ever actually pay your stake to anyone so of course it doesn't must be returned.

The odds on the exchanges tend an average of to be with 20% above those available from the bookies. On outsiders with larger odds the real difference might be considerably greater. Horses coming in at 33/1 or 50/1 by bookmakers is frequently available at three figure odds around the exchanges.

Although the chances could possibly be better this has to be offset that if your bet or lay works you'll have to pay 5% commission. His is generally easily offset from the better prices that you just re getting this isn't always true when betting on short priced horses.

Because Betfair win, i.e. have a 5% commission from either the backer or layer, regardless of the result unlike bookmakers they don't care how often won by you. This means that if you are successful there's no danger of needing your money closed.

The betting exchanges are growing in importance all over the world and if you're enthusiastic about horse racing and betting then you do need to go surfing and have a look in the exchanges, especially Betfair.