When punters first join the Betfair betting exchange the most confusing features could be the way that the possibilities displayed. In the UK conventional bookmakers use fractional odds including 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 certainly 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 about the exchange. If you consider what goes on once you place a wining bet which has a bookmaker your provide him your stake money. He places your bet with the agreed odds, sboarena say 4/1. If you win he offers you four times your stake A�40 plus your original investment back. On the exchanges you won’t ever actually give over your stake to anyone so of course no have to be returned.
The odds about the exchanges tend normally to be with 20% higher than those provided by the bookies. On outsiders with larger odds the main difference could be considerably greater. Horses priced at 33/1 or 50/1 by bookmakers is frequently found at three figure odds around the exchanges.
Although chances might be better it has to get offset that when your bet or lay is successful you will have to pay 5% commission. His is generally easily offset by the better prices that you simply re getting this isn’t always true when betting on short priced horses.
Because Betfair win, i.e. please take a 5% commission from either the backer or layer, no matter the result unlike bookmakers they don’t care how often won by you. This means that when you are successful there’s no danger of getting your closed.
The betting exchanges are growing in importance worldwide and if you’re thinking about horse racing and betting then you definitely really do need to use the internet and please take a look on the exchanges, especially Betfair.