Betfair and Betdaq are revolutionizing the way punters place 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.
K8Viva Kien Thuc Nuoi Ga Choi is the pioneer in exchange betting and it still operates the most popular betting exchange site.
Betfair is a platform that brings together punters who have opposing views and eliminates 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.
If you “lay” your selection you are placing a bet against it 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 Man Utd wins you will get paid. This is what traditional bookmakers do.
Here are ten compelling reasons why you should join the revolution and place a bet on the exchanges.
1. Better odds: You can place a wager on a betting exchange without the involvement of a bookmaker. He has always been the middleman. The bookmaker gets his cut, just like any other middle man. He will try to build his ‘book’ by manipulating prices downwards 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. This means that there is more profit.
2. Lay and back: You would not win your bet 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.
3. Trade for guaranteed profits: You can trade the movements in horse prices on the betting exchanges to make guaranteed profits, much like you would do with the financial markets. Profit regardless of the outcome of a race It’s impossible, you might think …. Let me give you an example.
Imagine a horse that is priced at 3/1 in an event. Because this horse is highly regarded, you expect the price to drop. For a stake of PS100, you back the horse
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 win or lose the race.
You will win PS300 @ 3/1. You will need to make a lay bet. The payout will be 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 a profit by backing the horse at a certain price and then selling it at a lower price.
You can reverse this process. In other words, you can place a wager on a horse to lose and then back it to lock in the profit.
Betfair trading at Bet Angel: Learn more
4. You can choose the odds that you prefer: Before the advent of betting exchanges you had to accept the price offered by the bookmaker when you placed a wager on a horse. 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. Betfair allows you to place a bet on the horse at 3/1. If someone else is interested, your bet will match.
5. 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. It is exciting and risky to compare your opinions with other punters during a race. It is an experience the traditional bookmaker cannot match.
6. Never close your betting account. We’ve all seen photocopied letters from bookmakers advising us that accounts were closed. Bookmakers can see through your business if you make consistent profits from betting. 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 will charge you a commission on your winnings. In other words, as long as they make money, they will also make money.
7. You can place unlimited stakes. I can recall many times when I received information about horses and went to my local bookmaker to place a wager. The assistant behind the counter was hesitant to give me a PS500 horse bet at 12/1. She would then rush into the back room to talk to the manager. I would get a pitiful PS20 at 12/1, but all the other prices would be the starting price (which is controlled by the bookmakers). These things 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.
8. All of your betting funds should be in one place. 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 lead to diluting of our money. We may wish to back a horse at PS100, but only have PS50 with the bookie who 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.
9. You can bet on many sports: The exchanges allow you to wager on more than just horse racing. You can also bet on many other markets, as well as a wide range of sports. Betfair allows you to place wagers on sports like Australian Rules football and pelota (?). You can also bet on ice hockey and pelota(?) You can also place bets on politics and the financial markets.
10. You can place your bets 24 hour a day. How many times have we opened the Racing Post at 8:00am to read the Pricewise bet for the day? Because their shop is closed until 10 o’clock, you can’t bet at your local bookmakers. You think you can place a wager online, but they don’t have the price 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. You can place all your bets before going to work by taking the available odds or naming your price.