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On a betting exchange the deal is done, when the price someone is willing to lay at, is the same as the price someone is willing to back at. Commission — You pay the betting exchange sites for acting as the middle man. You would need to be a heavy user to get that low. The screenshot above is taken from the leading betting exchange Betfair. It shows 4 of the 15 runners in a win market for a race at Ballinrobe and was taken about 15 minutes before the off.
The odds are in decimal form so the 2. You can get 6. If the price was to come in, then you can always adjust your price requirement downwards to ensure you are matched. Lets say you want to try to back Well Read Man at 7. Before your bet is matched the people who are looking for 6. Now lets say you want to back Sir Lynx. You can take 6.
The book percentage is Our bet at 7. Lay Betting Explained Laying is the same as backing, in that the process is the same. You can only be matched if there is someone willing to take the opposite side of the bet. This time though your laying, and you want someone to back the horse.
Laying Horses is easy In the above screenshot you might decide you want to lay Captain Ocana at odds of 9. You can currently lay him at 7. Like with back betting you should always try to get the best price, so maybe put the lay in at 6.
It may be that someone will now offer 7. Place Betting Apart from being able to lay as well as back, exchanges offer place only markets. The place only markets in horse racing are an excellent way to back or oppose a horse.
You no longer need to pick your horse and decide whether to back it to win or each way. In Play or Betting in Running In play betting is another huge advantage of betting exchanges. It should be noted that the pictures you see when watching horse racing are not quite live. ATR pictures can be as much as seconds behind live, which is a long way in a horse race, and RUK are around 3 seconds behind live.
Sports Trading There are many who profit from trading in sports markets on the exchanges. What kind of trades should we place? Everything based on a solid example! The former means trading and closing the market before the match has even started. The latter refers to traders who play the markets during the match. Our task is to buy the bet and resell it with more favorable odds.
This can be done in two ways: We place a LAY bet when we think that the odds are too low and the possibility of the result is higher. We place a BACK bet when we think that the odds are too high, and then they will fall when other players and bookmakers realize that the odds should be lowered. Why does this happen? Well, suppose Manchester City plays against Lincoln City, and the odds for its victory are 1.
We see that someone has made a huge mistake because the chances of Lincoln City winning are not that high after all. So, we quickly place a LAY bet i. Other players will soon realize the mistake, the odds will go up, and we will resell it with a profit by placing a BACK Lincoln City bet. The situation is similar in the opposite case. We rapidly notice that the odds are very high, and we know they will start falling, so we buy them. When they begin to fall, we LAYing a bet to make money.
Still, we wanted to give you an idea of what trading on Betfair looks like. Because we bet on all possibilities. It is also known as each-way betting because we have bet on all possibilities! It works the same way with any other sport, including horse racing. You will learn what a liability is, and how winnings vary depending on the odds. Here we go! If this is your preference, you have two choices. The problem is that the bookies have no intention of throwing their money away, so the chances on your pick would not be very appealing.
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