Ten Reasons to Open a Betting Exchange Account
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Betting exchanges such as Betfair and Betdaq have revolutionized the way many punters now place their bets. The most obvious benefit the exchanges offer over the traditional high street bookmaker is the ability to lay bets on horses to lose their race, as well as the conventional practice of backing them to win.
The pioneer in exchange betting is Betfair and today it operates the most popular betting exchange website.
http://www.jewelry-pandora.us.org/what-are-the-odds-of-winning-the-lotto/ 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).
People with opposing views can place bets.
You are betting on the outcome of a selection, whether it is an individual, a horse, or dog. This is similar to betting with traditional bookies.
http://www.nike-outletstore.us.org/how-to-spot-el-gordo-lottery-successfully/ When you "lay" it, you are betting against it 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. https://www.yeezy-boost.us.org/how-you-can-succeed-with-john-morrison-and-pick-6-strategies/ If Man Utd do not win, then you pick up the backer's stake. If Manchester United wins the game, then you must 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. By taking the bookie out of the equation you can generally get odds on Betfair 20% higher, which means more profit.
Lay as well as back: in the past you would only win your bet if your selected horse won its race. Betfair also allows you to act as bookmaker and lay a bet that a horse will NOT win the race. You can collect if your selection does not win.
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 regardless of the outcome of a race. Impossible you might think&. Let me give you an example.
Lets imagine you have a horse priced at 3/1 in a race. You think the price of this horse will shorten because it is well fancied. With a PS100 wager, you back this horse to win.
The price of the horse falls to 2/1 just before the race starts as lots of punters also back the horse. You then lay the horse for PS134.
Now, lets examine how you will 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. You will lose your PS100 win stake and you will be left with PS34 profits.
You can make sure you walk away with a profit by placing a horse at an affordable price and backing it at a higher cost, even before the stalls open!
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 advent of betting exchanges you had to place a wager on a horse at the price that was offered by the bookmaker. You would be laughed at if you claimed you wanted 3/1 despite the fact that the odds on a horse were only 2/1. Betfair is different. 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 allows you to continue betting on an event, even after it has started. This new option offers a completely different betting experience. However, it is not for the faint-hearted. As you might expect, the betting market for a horse race can change dramatically and extremely quickly, as horses jostle for position in a 5 furlong sprint which is over in less than 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 have your account closed: we have all seen the photocopied letters from bookmakers giving notice of closed accounts. The truth is, when you consistently make a profit from betting, then your business becomes a liability for a bookmaker. If he takes more money from your business than he gives back, he will only be happy to accept your bets. When it happens the other way around, which is what all punters are striving for, then the bookmaker will invariably pull the proverbial rug from underneath you. Betfair, on the other hand, will not 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 you post a request to back your horse for PS500 at 12/1 and someone else is willing to lay the bet at that price (or it could be a number of people whose total stake matches yours) then you will 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. We do this so that we can take advantage of whoever is offering the best price on a particular horse. However, by spreading our betting bank across a number of accounts, we are diluting our money we may want to back a horse for PS100 but find we only have PS50 placed with the bookmaker offering the best price. Sure, we can move funds between accounts, but it all amounts to an inconvenience. Having all your funds with one betting exchange means you can have all your funds available to bet, and all your money can be made to 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. Take a look on Betfair today and you may well be able to wager on sports such as Australian Rules football, pelota(?) You can also bet on ice hockey and pelota(?) You can also place bets on politics and the financial markets.
You can place your bets 24 hour a day. How many times have you read the Sporting Life at 8:00 am at the breakfast table and learned about the Pricewise bet for 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. Betfair allows you to place bets whenever you like. You can take advantage of early prices before everyone else starts betting on the same horse and the price collapses. You can post all your bets before you go to work, taking the odds available, or naming your price.
The pioneer in exchange betting is Betfair and today it operates the most popular betting exchange website.
http://www.jewelry-pandora.us.org/what-are-the-odds-of-winning-the-lotto/ 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).
People with opposing views can place bets.
You are betting on the outcome of a selection, whether it is an individual, a horse, or dog. This is similar to betting with traditional bookies.
http://www.nike-outletstore.us.org/how-to-spot-el-gordo-lottery-successfully/ When you "lay" it, you are betting against it 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. https://www.yeezy-boost.us.org/how-you-can-succeed-with-john-morrison-and-pick-6-strategies/ If Man Utd do not win, then you pick up the backer's stake. If Manchester United wins the game, then you must 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. By taking the bookie out of the equation you can generally get odds on Betfair 20% higher, which means more profit.
Lay as well as back: in the past you would only win your bet if your selected horse won its race. Betfair also allows you to act as bookmaker and lay a bet that a horse will NOT win the race. You can collect if your selection does not win.
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 regardless of the outcome of a race. Impossible you might think&. Let me give you an example.
Lets imagine you have a horse priced at 3/1 in a race. You think the price of this horse will shorten because it is well fancied. With a PS100 wager, you back this horse to win.
The price of the horse falls to 2/1 just before the race starts as lots of punters also back the horse. You then lay the horse for PS134.
Now, lets examine how you will 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. You will lose your PS100 win stake and you will be left with PS34 profits.
You can make sure you walk away with a profit by placing a horse at an affordable price and backing it at a higher cost, even before the stalls open!
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 advent of betting exchanges you had to place a wager on a horse at the price that was offered by the bookmaker. You would be laughed at if you claimed you wanted 3/1 despite the fact that the odds on a horse were only 2/1. Betfair is different. 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 allows you to continue betting on an event, even after it has started. This new option offers a completely different betting experience. However, it is not for the faint-hearted. As you might expect, the betting market for a horse race can change dramatically and extremely quickly, as horses jostle for position in a 5 furlong sprint which is over in less than 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 have your account closed: we have all seen the photocopied letters from bookmakers giving notice of closed accounts. The truth is, when you consistently make a profit from betting, then your business becomes a liability for a bookmaker. If he takes more money from your business than he gives back, he will only be happy to accept your bets. When it happens the other way around, which is what all punters are striving for, then the bookmaker will invariably pull the proverbial rug from underneath you. Betfair, on the other hand, will not 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 you post a request to back your horse for PS500 at 12/1 and someone else is willing to lay the bet at that price (or it could be a number of people whose total stake matches yours) then you will 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. We do this so that we can take advantage of whoever is offering the best price on a particular horse. However, by spreading our betting bank across a number of accounts, we are diluting our money we may want to back a horse for PS100 but find we only have PS50 placed with the bookmaker offering the best price. Sure, we can move funds between accounts, but it all amounts to an inconvenience. Having all your funds with one betting exchange means you can have all your funds available to bet, and all your money can be made to 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. Take a look on Betfair today and you may well be able to wager on sports such as Australian Rules football, pelota(?) You can also bet on ice hockey and pelota(?) You can also place bets on politics and the financial markets.
You can place your bets 24 hour a day. How many times have you read the Sporting Life at 8:00 am at the breakfast table and learned about the Pricewise bet for 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. Betfair allows you to place bets whenever you like. You can take advantage of early prices before everyone else starts betting on the same horse and the price collapses. You can post all your bets before you go to work, taking the odds available, or naming your price.
