Ten Compelling Reasons To Open A Betting Exchange Account
Betting exchanges such as Betfair and Betdaq have revolutionized the way many punters now place their bets. Betfair and Betdaq offer a number of advantages over traditional high-street bookmakers, including the ability to place bets on horses losing their races as well as backing them to win.
The pioneer in exchange betting is Betfair and today it operates the most popular betting exchange website.
Essentially, Betfair brings together individual punters with opposing views, and cuts out the traditional bookmaker. Betfair users can place bets in two ways: backing or offering odds to other punters (laying).
Bets are matched between people with opposing views.
You are betting on the outcome of a selection, whether it is an individual, a horse, or dog. This is just like betting with conventional bookies.
If you "lay" it you bet against the team winning. For example, if you're betting in a market on which team is going to win the Premiership and you lay Man Utd, you offer odds to other punters who wish to back Man Utd. If Man Utd do not win, then you pick up the backer's stake. If Manchester United wins, you will have to pay out. This is what bookmakers traditionally do.
Listed below are ten compelling reasons to join the revolution and bet on the exchanges:
Better odds: when you place a bet on a betting exchange you do away with the bookmaker, who has traditionally acted as the middle man. As with any other middle man the bookmaker takes his cut. He will always attempt to construct his book and manipulate prices downwards such that whatever the outcome he will make a profit. Betfair's odds of winning are generally 20% higher if you take out the bookie. This means that there is more profit.
Lay and back. In the past, you could only win your wager if your horse won its race. Betfair allows you to be a bookmaker and place a wager that the horse will not win the race. If your selection doesnt win, then you collect!
Trading for guaranteed profits: on the betting exchanges you can take advantage of movements in the price of a horse to secure guaranteed profits much like trading the financial markets. Profit whatever the outcome of a race? It is impossible, you might think. I will give you an example to demonstrate:
Lets imagine you have a horse priced at 3/1 in a race. Because this horse is highly anticipated, you expect the price to drop. With a PS100 wager, you back this horse to win.
As many punters back the horse, the price of the horse drops to 2/1 before the race begins. The horse can then be laid for PS134.
Let's now see how you can make a profit. Your horse will either win or lose the race.
If it wins, you will win PS300 (PS100 @ 3/1). However, you will have to pay out on your lay bet you will pay out PS268 (PS134 @ 2/1). Your profit equals PS300 less PS268 = PS32
You will win your lay bet if your horse loses and you will receive PS134. However, you will lose your PS100 win stake, and be left with PS34 profit.
And so, by laying a horse at a low price, having already backed it at a higher price, you can ensure you will walk away with a profit, before the stalls have even opened!
This process can also be done in reverse, in other words you can lay a bet on a horse to lose, then when its price drifts you can back it to lock in the profit.
Name your price: before the appearance of betting exchanges, when placing a bet on a horse you would have to take the price offered by the bookmaker. If the odds offered on a horse were 2/1 and you said you wanted 3/1 you would be laughed out of the shop. Not so with Betfair. If you want to back the horse at 3/1 then you can post this request on the web site, and if someone else wants to lay that bet then your bet will be matched.
Bet in running: Betfair lets you continue betting on an event even after it's finished. This new option offers a completely different betting experience. However, it is not for the faint-hearted. The betting market for horse races can change rapidly and dramatically. Horses jostle for position during a five-furlong sprint that is completed in under a minute. Pitting your judgment and opinions against other punters as the race unfolds is very exciting, but equally risky. It is an experience the traditional bookmaker cannot match.
Never close your account. We have all seen photocopied letters from bookmakers advising us that accounts were closed. The truth is, when you consistently make a profit from betting, then your business becomes a liability for a bookmaker. He is only happy to take your bets if over time he is taking more money from you, than he is giving back. If it is the opposite, which all punters want, the bookmaker will always pull the rug from under you. By contrast, Betfair will never close your account. They charge a commission based upon your winnings, so in fact as long as you are winning, then they are making money too.
Unlimited stakes: I can remember plenty of times when I have received word about a horse and visited my local bookmaker to place a bet. The assistant who was serving me at the time would scamper into the office and ask the manager if I wanted to place a bet on the nag at 12/1. She then said that I could only have PS20 at 12/1, but that the starting price (which is controlled by the bookmakers) would be allowed. These transactions do not occur on exchanges. If someone is willing to place a bet on your horse at PS500 at 12/1, or if there are multiple people who have the same stake as yours, then you can strike your bet.
All of your betting bank in one place: most of us have at some point opened accounts with more than one bookmaker. This allows us to take advantage of the lowest price for a horse. Spreading our betting bank over multiple accounts can dilute our money. We may wish to place a PS100 bet on a horse, but we have only PS50 with the bookmaker that offers the best price. Although we can transfer funds between accounts it is a hassle. All your funds can be deposited to one betting exchange, so you have the ability to place all your bets and your money can work for you.
Wide range of sports: betting on the exchanges is not restricted to horse racing. Just as with the bookmakers, you can bet on a variety of sports, and quite a few other markets besides. Betfair allows you to place wagers on sports like Australian Rules football and pelota (?). and ice hockey. You can also place bets on politics and the financial markets.
Place your bets 24 hours a day: how many occasions have you been reading the Sporting Life at 8:00am at the breakfast table, and read about the Pricewise bet of the day? You obviously cannot bet at the local bookmakers because their shop doesnt open til 10 oclock. You think, "hey, Ill bet online!" But they haven't priced the race yet. With Betfair you can bet when you want. You can take advantage of early prices before everyone else starts betting on the same horse and the price collapses. http://ugg-boots--uk.co.uk/theres-no-arm-in-it-nfl-underdogs-could-tower-over-chargers/ Post all your bets before going to work. You can take the available odds or name your price.
The pioneer in exchange betting is Betfair and today it operates the most popular betting exchange website.
Essentially, Betfair brings together individual punters with opposing views, and cuts out the traditional bookmaker. Betfair users can place bets in two ways: backing or offering odds to other punters (laying).
Bets are matched between people with opposing views.
You are betting on the outcome of a selection, whether it is an individual, a horse, or dog. This is just like betting with conventional bookies.
If you "lay" it you bet against the team winning. For example, if you're betting in a market on which team is going to win the Premiership and you lay Man Utd, you offer odds to other punters who wish to back Man Utd. If Man Utd do not win, then you pick up the backer's stake. If Manchester United wins, you will have to pay out. This is what bookmakers traditionally do.
Listed below are ten compelling reasons to join the revolution and bet on the exchanges:
Better odds: when you place a bet on a betting exchange you do away with the bookmaker, who has traditionally acted as the middle man. As with any other middle man the bookmaker takes his cut. He will always attempt to construct his book and manipulate prices downwards such that whatever the outcome he will make a profit. Betfair's odds of winning are generally 20% higher if you take out the bookie. This means that there is more profit.
Lay and back. In the past, you could only win your wager if your horse won its race. Betfair allows you to be a bookmaker and place a wager that the horse will not win the race. If your selection doesnt win, then you collect!
Trading for guaranteed profits: on the betting exchanges you can take advantage of movements in the price of a horse to secure guaranteed profits much like trading the financial markets. Profit whatever the outcome of a race? It is impossible, you might think. I will give you an example to demonstrate:
Lets imagine you have a horse priced at 3/1 in a race. Because this horse is highly anticipated, you expect the price to drop. With a PS100 wager, you back this horse to win.
As many punters back the horse, the price of the horse drops to 2/1 before the race begins. The horse can then be laid for PS134.
Let's now see how you can make a profit. Your horse will either win or lose the race.
If it wins, you will win PS300 (PS100 @ 3/1). However, you will have to pay out on your lay bet you will pay out PS268 (PS134 @ 2/1). Your profit equals PS300 less PS268 = PS32
You will win your lay bet if your horse loses and you will receive PS134. However, you will lose your PS100 win stake, and be left with PS34 profit.
And so, by laying a horse at a low price, having already backed it at a higher price, you can ensure you will walk away with a profit, before the stalls have even opened!
This process can also be done in reverse, in other words you can lay a bet on a horse to lose, then when its price drifts you can back it to lock in the profit.
Name your price: before the appearance of betting exchanges, when placing a bet on a horse you would have to take the price offered by the bookmaker. If the odds offered on a horse were 2/1 and you said you wanted 3/1 you would be laughed out of the shop. Not so with Betfair. If you want to back the horse at 3/1 then you can post this request on the web site, and if someone else wants to lay that bet then your bet will be matched.
Bet in running: Betfair lets you continue betting on an event even after it's finished. This new option offers a completely different betting experience. However, it is not for the faint-hearted. The betting market for horse races can change rapidly and dramatically. Horses jostle for position during a five-furlong sprint that is completed in under a minute. Pitting your judgment and opinions against other punters as the race unfolds is very exciting, but equally risky. It is an experience the traditional bookmaker cannot match.
Never close your account. We have all seen photocopied letters from bookmakers advising us that accounts were closed. The truth is, when you consistently make a profit from betting, then your business becomes a liability for a bookmaker. He is only happy to take your bets if over time he is taking more money from you, than he is giving back. If it is the opposite, which all punters want, the bookmaker will always pull the rug from under you. By contrast, Betfair will never close your account. They charge a commission based upon your winnings, so in fact as long as you are winning, then they are making money too.
Unlimited stakes: I can remember plenty of times when I have received word about a horse and visited my local bookmaker to place a bet. The assistant who was serving me at the time would scamper into the office and ask the manager if I wanted to place a bet on the nag at 12/1. She then said that I could only have PS20 at 12/1, but that the starting price (which is controlled by the bookmakers) would be allowed. These transactions do not occur on exchanges. If someone is willing to place a bet on your horse at PS500 at 12/1, or if there are multiple people who have the same stake as yours, then you can strike your bet.
All of your betting bank in one place: most of us have at some point opened accounts with more than one bookmaker. This allows us to take advantage of the lowest price for a horse. Spreading our betting bank over multiple accounts can dilute our money. We may wish to place a PS100 bet on a horse, but we have only PS50 with the bookmaker that offers the best price. Although we can transfer funds between accounts it is a hassle. All your funds can be deposited to one betting exchange, so you have the ability to place all your bets and your money can work for you.
Wide range of sports: betting on the exchanges is not restricted to horse racing. Just as with the bookmakers, you can bet on a variety of sports, and quite a few other markets besides. Betfair allows you to place wagers on sports like Australian Rules football and pelota (?). and ice hockey. You can also place bets on politics and the financial markets.
Place your bets 24 hours a day: how many occasions have you been reading the Sporting Life at 8:00am at the breakfast table, and read about the Pricewise bet of the day? You obviously cannot bet at the local bookmakers because their shop doesnt open til 10 oclock. You think, "hey, Ill bet online!" But they haven't priced the race yet. With Betfair you can bet when you want. You can take advantage of early prices before everyone else starts betting on the same horse and the price collapses. http://ugg-boots--uk.co.uk/theres-no-arm-in-it-nfl-underdogs-could-tower-over-chargers/ Post all your bets before going to work. You can take the available odds or name your price.
Public Last updated: 2022-12-07 01:40:11 AM
