Betfair - Understanding The Odds

When punters first join the Betfair betting exchange the most confusing features could be the manner in which the possibilities are displayed. In the UK conventional bookmakers use fractional odds like 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 is the same as 2.5 for the exchange. If you consider what are the results once you place a wining bet using 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 4x your stake A�40 plus your original investment back. On the exchanges you won't ever actually give your stake to anyone so of course it does not need to be returned.

The odds about the exchanges tend normally to be around 20% more than those made available from the bookies. On outsiders with larger odds the gap may be considerably greater. Horses costing 33/1 or sbobet 50/1 by bookmakers are frequently bought at three figure odds for the exchanges.

Although the percentages could possibly be better it has being offset if your bet or lay works you'll need to pay 5% commission. His is generally easily offset by the better prices that you simply re getting it's not always true when betting on short priced horses.

Because Betfair win, i.e. require a 5% commission from either the backer or layer, no matter what result unlike bookmakers they do not care how often shipped to you. This means that when you are successful there's no danger of needing your closed.

The betting exchanges are growing in importance all over the world and if you are considering horse racing and betting then you definitely do need to go online and have a look with the exchanges, especially Betfair.