to 'lay' bets like a bookmaker?
Imagine a field of, perhaps, ten or more horses. Now instead
of having to find the the 'one' winner, you only have to identify
a weak favourite and lay it to lose.
What if you could go one step further and select only those
races where you feel confident about the outcome?
Well, I am delighted to tell you! Now you can!
In the year 2000 Betfair, the first UK betting exchange was
born and a new way of betting came on the scene for UK and
European backers
So, what exactly are betting exchanges? Well, they work on a
person-to-person basis. Instead of taking your bets like a
bookmaker they simply hold your money and allow you to place
your bets against other punters.
Once the result of the bet is known, they deduct a small
percentage from the win bet and the remainder goes straight
into your account. You can leave it where it is or withdraw it
immediately.
Now, since we all know that favourites lose roughly 33% of the
time, it requires no great mathematical ability to realise that
for the first time punters actually have a far greater opportunity
to win money by laying bets against false or weak favourites.
Because it is unnecessary for the betting exchanges to
control the odds in the same way as bookmakers do, one
desirable spin-off is that the odds they offer are anything up to
20% higher than you would expect from traditional
bookmakers.
Another feature offered by betting exchanges is the ability
to 'suggest' odds. If you don't like the odds on offer, you
can suggest the odds you would like, and the amount you are
prepared to stake. Other punters can if they so choose,
accept your odds, or ignore them.
Betting exchanges, although very unpopular with bookmakers,
now lead the industry. Because of their high liquidity, they now
tend to set the odds and the bookmakers follow. They are here
to stay, and that has to be good news for punters!
Find more information on online betting exchanges
at:-
http://www.online-betting-exchanges.com