Betfair - Understanding The Odds

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When punters first join the Betfair betting exchange just about the most confusing features may be the method that the odds are displayed. In the UK conventional bookmakers use fractional odds such as 6/4, 2/1, 100/30 or 33/1. On Betfair a decimal odds strategy 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 provides you 1.5 + your stake which = 1. So 6/4 could be the same as 2.5 about the exchange. If you consider what happens when you place a wining bet having a bookmaker your supply him with your stake money. He places your bet on the agreed odds, say 4/1. If you win he will give you 4 times your stake A�40 along with your original investment back. On the exchanges you won't ever actually give your stake to anyone so of course it doesn't must be returned.

The odds on the exchanges tend an average of to be around 20% above those offered 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 often purchased at three figure odds about the exchanges.

Although the chances may be better this has to become offset that if your bet or sboarena lay is prosperous you will have to pay 5% commission. His is generally easily offset with the better prices which you re getting this is 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 don't care how frequently shipped to you. This means if you are successful there is no danger of having your bank account closed.

The betting exchanges are growing in importance around the world and should you be thinking about horse racing and betting then you should go online and have a look in the exchanges, especially Betfair.