Ten Reasons to Open a Betting Exchange Account
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Betfair and Betdaq are revolutionizing the way punters place 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.
Betfair is a platform that brings together punters who have opposing views and eliminates the traditional bookmaker. All bets on Betfair have been placed there by users who either want to have a bet in the normal way (backing), or offer 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 just like betting with conventional bookies.
If you "lay" it you bet against the team winning. If you are betting on the Premiership team and you place Man Utd, then you can offer odds to other punters to back Man Utd. If Man Utd loses, you will take the stake of the backer. If Manchester United wins, you will have to pay out. This is what traditional bookmakers do.
Here are ten compelling reasons why you should join the revolution and place a bet on the exchanges.
You get better odds: When you place a wager on a betting exchange, you eliminate the need for the bookmaker to act as the middleman. As with any other middle man the bookmaker takes his cut. He will try to build his book and manipulate prices so that he can make a profit regardless of the outcome. Betfair's odds of winning are generally 20% higher if you take out the bookie. https://ufaubet.net/2022/12/15/the-truth-about-internet-marketing/ 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. 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. It is impossible, you might think. Let me give you an example.
Imagine a horse that is priced at 3/1 in an event. You think the price of this horse will shorten because it is well fancied. 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.
Now, lets examine how you will make a profit. There are only two outcomes for your horse it will either win the race, or it will not win the race.
You will win PS300 @ 3/1. You will need to make a lay bet. This will result in you paying out PS268 (PS134@ 2/1). Your profit is PS300 less PS268 equals PS32
If your horse loses, you will win your lay bet and collect PS134. However, you will lose your PS100 win stake, and be left with PS34 profit.
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 appearance of betting exchanges, when placing a bet on a horse you would have to take the price 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. 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 capability brings with it a whole new betting experience, but its 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. However, it is an experience that the traditional bookmaker simply cannot hope to 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. If he takes more money from your business than he gives back, he will only be happy to accept your bets. If it is the opposite, which all punters want, the bookmaker will always pull the rug from under 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.
Unlimitted stakes: There have been many times that I received information about horses and went to my local bookmaker to place a wager. When I asked to have PS500 on the nag at 12/1 the assistant serving me would scamper into the office to ask the manager, then come back to say I was allowed only PS20 @ 12/1 but the rest would have to be at the Starting Price (which as we all know is controlled by the bookmakers). This does not happen on the 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.
Your entire betting bank is in one location: Most people have opened accounts with multiple bookmakers at one time or another. 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. 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. Betfair allows you to place wagers on sports like Australian Rules football and pelota (?). You can also bet on ice hockey and pelota(?) But you can also bet on the financial markets, politics, and even the contestants in game shows such as Big Brother.
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. But you think, hey, Ill place a bet on-line you go to their web site and they havent priced the race up yet! Betfair allows you to place bets whenever you like. Betfair allows you to take advantage of early prices, before everyone else begins betting on the same horse. The price then collapses. 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.
Betfair is a platform that brings together punters who have opposing views and eliminates the traditional bookmaker. All bets on Betfair have been placed there by users who either want to have a bet in the normal way (backing), or offer 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 just like betting with conventional bookies.
If you "lay" it you bet against the team winning. If you are betting on the Premiership team and you place Man Utd, then you can offer odds to other punters to back Man Utd. If Man Utd loses, you will take the stake of the backer. If Manchester United wins, you will have to pay out. This is what traditional bookmakers do.
Here are ten compelling reasons why you should join the revolution and place a bet on the exchanges.
You get better odds: When you place a wager on a betting exchange, you eliminate the need for the bookmaker to act as the middleman. As with any other middle man the bookmaker takes his cut. He will try to build his book and manipulate prices so that he can make a profit regardless of the outcome. Betfair's odds of winning are generally 20% higher if you take out the bookie. https://ufaubet.net/2022/12/15/the-truth-about-internet-marketing/ 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. 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. It is impossible, you might think. Let me give you an example.
Imagine a horse that is priced at 3/1 in an event. You think the price of this horse will shorten because it is well fancied. 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.
Now, lets examine how you will make a profit. There are only two outcomes for your horse it will either win the race, or it will not win the race.
You will win PS300 @ 3/1. You will need to make a lay bet. This will result in you paying out PS268 (PS134@ 2/1). Your profit is PS300 less PS268 equals PS32
If your horse loses, you will win your lay bet and collect PS134. However, you will lose your PS100 win stake, and be left with PS34 profit.
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 appearance of betting exchanges, when placing a bet on a horse you would have to take the price 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. 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 capability brings with it a whole new betting experience, but its 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. However, it is an experience that the traditional bookmaker simply cannot hope to 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. If he takes more money from your business than he gives back, he will only be happy to accept your bets. If it is the opposite, which all punters want, the bookmaker will always pull the rug from under 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.
Unlimitted stakes: There have been many times that I received information about horses and went to my local bookmaker to place a wager. When I asked to have PS500 on the nag at 12/1 the assistant serving me would scamper into the office to ask the manager, then come back to say I was allowed only PS20 @ 12/1 but the rest would have to be at the Starting Price (which as we all know is controlled by the bookmakers). This does not happen on the 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.
Your entire betting bank is in one location: Most people have opened accounts with multiple bookmakers at one time or another. 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. 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. Betfair allows you to place wagers on sports like Australian Rules football and pelota (?). You can also bet on ice hockey and pelota(?) But you can also bet on the financial markets, politics, and even the contestants in game shows such as Big Brother.
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. But you think, hey, Ill place a bet on-line you go to their web site and they havent priced the race up yet! Betfair allows you to place bets whenever you like. Betfair allows you to take advantage of early prices, before everyone else begins betting on the same horse. The price then collapses. Post all your bets before going to work. You can take the available odds or name your price.
