Betfair - Understanding The Odds
When punters first join the Betfair betting exchange just about the most confusing features will be the manner in which the possibilities displayed. In the UK conventional bookmakers use fractional odds for example 6/4, 2/1, sboarena 100/30 or 33/1. On Betfair a decimal odds system is used 2.5, 3.0,4.3 or 34.0.
You can simply convert fractional odds into decimal 6/4 is 6 divided by 4 which gives you 1.5 + your stake which = 1. So 6/4 is the same as 2.5 on the exchange. If you consider what happens when you place a wining bet having a bookmaker your give him your stake money. He places your bet at the agreed odds, say 4/1. If shipped to you he gives you 4x your stake A�40 together with your original investment back. On the exchanges you never actually give over your stake to anyone so obviously it does not should be returned.
The odds around the exchanges tend on average to be with 20% higher than those made available from the bookies. On outsiders with larger odds the gap may be considerably greater. Horses coming in at 33/1 or 50/1 by bookmakers can often be bought at three figure odds on the exchanges.
Although chances could be better it is to get offset that when your bet or lay works you'll have to pay 5% commission. His is generally easily offset through the better prices that you just re getting this is not always true when betting on short priced horses.
Because Betfair win, i.e. take a 5% commission from either the backer or layer, whatever the result unlike bookmakers they do not care how often you win. This means when you are successful there isn't any danger of having your account closed.
The betting exchanges are growing in importance worldwide and in case you are thinking about horse racing and betting then you definitely should go surfing and please take a look on the exchanges, especially Betfair.