The internet has had a dramatic effect in the way many gamblers bet. Available on the net you can find a wealth of free information. Websites such as the one operated by the
is normally only available in the UK’s no.1 daily racing newspaper. www.sportinglife.co.uk is another example of a website that provides a vast quantity of gambling information such as racecards, etc.
Internet bookmakers also provide a convenient way to place bets. Due to the fact that they also have lower overheads they can and often do provide better value for money in the form of better prices.
Another example of the benefits of the internet can be found at odds comparison sites. These websites enable gamblers to compare quickly the various odds offered by different bookmakers. By comparing prices you can obtain better value by placing bets with bookmakers that offer the best odds. Shopping around for the best prices is an essential strategy for making long term profits. The apparently slight differences in prices can make a big difference in the long term.
The ascent of the internet has also allowed people to place arbitrage bets. An arbitrage bet is a bet that is practically guaranteed to profit no matter what the outcome. Many people have successfully made a full income from this strategy and all without risking much money.
Betting exchanges have also had a dramatic effect on the world of horse racing. By removing bookmakers from the equation punters can bet against each other. For instance if you think a horse has no chance of winning due to some information which you have received you can go to a betting exchange and offer a price to the betting public. This ability to oppose a horse has created a new dimension to the way in which punters can view a horse race. Furthermore, it is not
uncommon to be able to obtain vastly better value than that offered by conventional bookmakers.
Gambling abroad with foreign bookmakers on foreign sports and events is also now possible and easy thanks to the internet.
You can even find bet calculators to work out your winnings for you.
Considering all the benefits, the internet is clearly an excellent tool for the horse race bettor and it is well worth going online.
Betting Exchanges Betting exchanges are bringing about a
dramatic alteration in the way in which we bet. Betfair are the UK’s largest betting exchange. The following information applies mainly but not solely to this particular exchange.
Betfair claim to have matched £250 million pounds worth of bets last year. It appears that these exchanges are posing a threat to the bookmaking industry.
With a betting exchange there is no bookie. The bets featured are placed there by individuals who chose to bet in the normal way, by backing a selection or by acting as a bookmaker by offering odds to other punters.
• Bets are matched between people with opposing views. • Betting exchanges have a number of differences that
separate them from traditional bookmakers. • You can back or lay a bet.
• You can choose the odds you want to bet at. • You can obtain better prices.
The terminology used on betting exchanges is ‘lay’ and ‘back’ or ‘sell’ and ‘buy’. If you decide to play the role of a bookmaker you will be laying bets by offering a price. However, if you were playing the role of punter you would back a selection.
You never know or have personal contact with those who you are betting against.
If you see a price quoted but you want better odds you place a request for a better price. However, you do need to be realistic because you have to find somebody prepared to offer you your requested odds and visa versa.
The odds featured constantly fluctuate but more so the closer you come to the event in question. This is due to the fact that there are more people in the market.
There is no chance of not getting paid or avoiding payment should you lose, as everyone has to deposit enough funds by credit or debit card to cover all transactions.
All businesses have to make a profit in order to survive. Bookmakers do this by offering prices that do not represent the true odds. Betting exchanges make a profit by charging a small commission on winning bets and there are no other costs. As a result, the charges imposed by betting exchanges are small in comparison to the value offered in the prices. You can bet ‘in running’ on some events. This means you can bet while a contest is in play. This tool was normally limited to spread betting.
You can bet on or lay odds for just about any sport. You can even bet on the performance of the stock market. There are no each way bets since all bets are to win.
Betting exchanges often offer far better value than traditional bookmakers, therefore your profits should increase the more you use betting exchanges (even after paying the 2-5% commission on winning bets).
For instance, a 5/2 chance with standard bookmakers will typically be offered at a price of 3/1 so by placing a £100 bet with the bookie you can expect a winning return of £350. However with the typical exchange price of 3/1 you would expect £400, minus 5% commission resulting in a return of £380. Therefore there’s a £30 difference in returns which is a substantial amount. By betting with exchanges on a regular basis the difference in value can have a dramatic effect of your betting bank and long term profits.
Betting exchanges operate in decimals instead of standard odds. Therefore 4/5 would be represented as 1.8 and 3/1 would be represented as 4.0. These figures show the total return you can expect if you place a £1 bet. So if you place a £1 bet at 3/1 you can expect £4 represented as 4.0 (See odds to percentage conversion table in the charts and tables section of this book).
We recommend that you do not bet on an exchange until you are comfortable with the concepts and rules of these exchanges. Your first visit may prove to be a daunting experience. However, help is available online and you can simply watch the markets in action before getting involved yourself.