When punters first join the Betfair betting exchange the most confusing features may be the method in which the possibilities displayed. In the UK conventional bookmakers use fractional odds for example 6/4, 2/1, 100/30 or 33/1. On Betfair a decimal odds method is used 2.5, 3.0,4.3 or 34.0.
(Image: https://www.slideshare.net/images/loading-dudes-transparent.gif)You can certainly convert fractional odds into decimal 6/4 is 6 divided by 4 which provides you 1.5 + your stake which = 1. So 6/4 will be the same as 2.5 around the exchange. If you consider what goes on if you place a wining bet with a bookmaker your provide him with your stake money. He places your bet on the agreed odds, say 4/1. If shipped to you he will give you four times your stake A�40 plus your original investment back. On the exchanges there is a constant actually give over your stake to anyone so of course it doesn't need to be returned.
The odds for the exchanges tend on average to be around 20% greater than those offered by the bookies. On outsiders with larger odds the real difference could be considerably greater. Horses costing 33/1 or 50/1 by bookmakers can often be available at three figure odds on the exchanges.
Although the odds might be better it has being offset that if your bet or lay is successful you will need to pay 5% commission. His is generally easily offset from the better prices that you re getting this is simply not always true when betting on short priced horses.
Because Betfair win, sbobet i.e. have a 5% commission from either the backer or layer, whatever the result unlike bookmakers they just don't care how frequently you win. This means that when you are successful there isn't any danger of needing your bank account closed.
The betting exchanges are growing in importance worldwide and if you are considering horse racing and betting you then really do need to use the internet and have a look at the exchanges, especially Betfair.