Betfair and Betdaq, two examples of betting platforms, have entirely altered the betting habits of many gamblers. The ability to lay bets on horses to lose their race and the traditional practice of backing them to win is the most apparent advantage the exchanges offer over the conventional high street bookmaker. The Amazing fact about UFABETเว็บหลัก.
Betfair, the first company to offer exchange betting, now runs the most powerful betting exchange platform.
Betfair eliminates the middleman, or bookie, and instead connects individual bettors with contrasting opinions. All wagers on Betfair are made by users who are either interested in placing a traditional bet (backing) or providing odds to other gamblers. (laying).
Opposing parties place bets against one another.
When you “back” a pick (a player, a team, a horse, a dog, etc.), you wager on its success. This is identical to wagering through traditional bookmakers.
When you “lay” your pick, you wager that it won’t win. When betting on the Premier League champion, laying Manchester United means providing chances to bettors interested in backing the Red Devils. If Manchester United loses, the backer’s Bet is on you. You must make good on your Bet if Man Utd triumphs. This is how bookies have continuously operated.
Below are ten of the most convincing arguments in favor of joining the revolution and placing your bets on the exchanges:
1. Better odds: Than you would at a conventional bookie because you cut out the middleman. Like any other “middleman,” the gambler earns a transaction commission. Regardless of the result, he will always try to build his “book” and manipulate prices to come out ahead. Betfair eliminates the need for a bookie, and as a result, the chances are typically 20% higher, resulting in increased earnings.
2. Lay as well as back: You can now earn a bet regardless of whether or not the horse you backed finishes in the top three. Betfair also allows you to take the role of the bookie by laying the odds that a particular horse will not win. If your pick doesn’t triumph, you get paid regardless.
3. Trading for guaranteed profits: Betting exchanges are similar to the financial markets in that price fluctuations of horses can be used to ensure profits through trading. Make money no matter what happens in a race? Unlikely as it may seem… Let me illustrate with an example:
Let’s say you’re betting on a horse that’s 3/1 to win. You anticipate a drop in the asking price for this horse due to high demand. So you put up a hundred pounds to support the horse.
Just before the start of the race, the odds on the horse drop to 2/1 as many other gamblers join in on the Bet. The Bet on the animal is laid for £134.
Let’s take a look at your earning margins now. Your horse will either win the race or will not. There are no other possible results.
If it comes out on top, you stand to win £300 (£100 at 3/1). You must, however, cash out on your lay Bet, which will cost you £268 (£134 at odds of 2/1). Subtracting £268 from £300 gives you a surplus of £32.
If your horse finishes last, you win the lay wager and receive £134. So you will end up with a £34 profit despite losing your initial £100 win wager.
You can ensure a profit before the race has even begun by “laying back” (betting against) the horse at a lower price than you initially “backed” it.
In the opposite direction, you can place a wager on a horse to lose and then back it when its price drifts in your favor to “lock in” your profit.
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4. You get to choose the odds: Before the advent of betting exchanges, punters had no choice but to accept the price given by the bookmaker when wagering on a horse race. If the chances on a horse were 2/1 and you asked for 3/1, the shopkeeper would laugh you out. However, Betfair is different. You can post on the website that you want to back the horse at 3/1, and if another user is willing to make that wager, yours will be matched.
5. Bet in-play: After a game has begun, you can still place wagers on Betfair. The novel betting possibilities made possible by this feature are not for the faint of heart. In a 5 furlong sprint that lasts less than a minute, positions among the horses can shift dramatically and swiftly, and so can the odds on the race. It’s thrilling but potentially dangerous to pit your judgment and views against other punters as the race progresses. However, the standard broker cannot compete with such an immersive experience.
6. We’ve all seen the photocopied emails from bookmakers informing customers that their accounts have been closed: So, rule number six is never to have your betting account closed. When you win Bet after Bet, you hurt the bookmaker’s company. He will gladly accept your wagers only if he gains more from them in the long run than you will lose. When the opposite occurs, however, which is what every bettor hopes for, the bookmaker will inevitably try to yank the rug out from under you. In comparison, your Betfair account will never be closed. They take a percentage of your profits as their fee, so as long as you’re successful, they are too.
7. You can wager a limitless amount: Many times in the past, I’ve heard of a horse and then gone to the local bookmaker to place a bet. My request for £500 on the horse on 12/1 would prompt the counter clerk to dash off to confer with the manager, who would then return to tell me that I could have only £20 on 12/1 and the balance would have to be placed at the Starting Price. (which, as we all know, is controlled by the bookmakers). This never occurs during the actual trades. It’s possible to make a wager if you post a request to back a horse for £500 at 12/1 and someone else is willing to lay the Bet at that price (or a group of people whose total stake equals yours).
8. Most of us have opened accounts with more than one bookmaker at some time, so it’s essential to have all of your betting funds in one place: This is done so that we can benefit from whoever is providing the most favorable price for a given horse. We could be tempted to back a horse for £100 but only have £50 in our account at the bookie offering the most incredible odds if we haven’t diversified our betting bank across multiple accounts. We can transfer money between banks, but it will be a hassle. You can put all of your money to work for you in one convenient location by keeping it all with a single betting company.
9. Bet on various activities: Horse racing bets are just one type accepted at the exchanges. You can bet on many events and markets, just like at the bookies. Check out Betfair right now, and you might be able to place bets on games like ice hockey, pelota(? ), and Australian rules football. In addition, one can wager on the stock market, political candidates, and Big Brother houseguests.
10. If you’re a person who likes to read about the Pricewise Bet of the day: Racing Post at 8:00 in the morning while eating breakfast, then you’ll love that you can gamble on horses at any time of the day or night. Unfortunately, the neighborhood bookies don’t open until 10, so you can’t place any bets before then. You decide, “Hey, I’ll place a bet online,” but when you visit their website, you find that the odds for the race have not yet been posted. Betfair allows you to wager whenever you like. You can profit from early rates before the market becomes oversaturated with wagers on a single horse. You can place your bets before starting work, take the current changes, or set your own.
Betdaq and Betfair offer free sign-ups, and their user-friendly guides can get you up to speed on exchange wagering in no time. So check out both sites and compare the odds with your bookmaker before deciding where to put your next wager.