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Betting Exchanges and Betting Examples Person-to-person betting exchanges have revolutionised the way people place their bets. They act as a medium through which different customers bet against each other. You can bet to win or lay it to lose. The The Racing Index. will give you a comprehensive guide to all the current Betting Exchanges. As we have said before we use and highly recommend Betfair. They are the current market leaders with the highest turnover of bets and have a commission charge of between 2% and 5% on net winnings. Go to Betfair and click on demo for full details and instructions on how to use their site. ( After veiwing the Demo any questions contact us and we will try to answer them.) Fractional and Decimal odds The Bookmakers use Fractional odds, ie 5/4, 2/1, 7/2, 4/1 etc. EXAMPLE 1 If you place a bet of £20.00 at 5/4, your return is:- 5 divided by 4 equals 1.25 x your bet £20.00 equals £25.00 + your bet £20.00 equals total return of £45.00 EXAMPLE 2 If you place a bet of £20.00 at 7/2, your return is:- 7 divided by 2 equals 3.5 x your bet £20.00 equals £70.00 + your bet £20.00 equals total return of £90.00 The Big difference with Decimal odds is that they include the stake. Decimal odds are just converted fractions +1 (1 Being the stake) EXAMPLES Fractional odds 5/4, = 5 divided by 4, = 1.25, +1 = Decimal odds 2.25 Fractional odds 2/1, = 2 divided by 1, = 2.00, +1 = Decimal odds 3.00 Fractional odds 7/2, = 7 divided by 2, = 3.50, +1 = Decimal odds 4.50 Fractional odds 4/1, = 4 divided by 1, = 4.00, +1 = Decimal odds 5.00 Click on Odds Converter for Convertion tables from Fractional to Decimal odds. Using Decimal odds it is a lot easier to calculate the bet and can be used to 2 decimal places ie:- 2.15, 3.68, 4.32, 5.45 etc. Backing to win EXAMPLES £20.00 bet x odds 2.15 = return £43.00 (£20.00 of which is the retuned stake. (Profit of £23.00) £50.00 bet x odds 3.68 = return £184.00 (£50.00 of which is the returned stake. (Profit of £134.00) £30.00 bet x odds 4.32 = return £129.60 (30.00 of which is the returned stake. (Profit of £99.60) Laying to lose Laying to lose is just the opposite. EXAMPLES Offer odds of 2.15 and only accept a bet of £20.00. Actuall odds are 2.15 -1 (their £20.00 stake) = odds 1.15. When the horse loses the race you win their £20.00 Should the horse win the race you pay out £23.00 (£20.00 x 1.15) your loss limit Offer odds of 3.68 and only accept a bet of £50.00. Actuall odds are 3.68 -1 (their £50.00 stake) = odds 2.68. When the horse loses the race you win their £50.00 Should the horse win the race you pay out £134.00 (£50.00 x2.68) your loss limit Offer odds of 4.32 and only accept a bet of £30.00. Actuall odds are 4.32 -1 (their £30.00 stake) = odds 3.32. When the horse loses the race you win their £30.00 Should the horse win the race you pay out £99.60 (£30.00 x3.32) your loss limit Remember the lower the odds you can get the higher the bets you can take and the more money you can win, and the less money you could lose. Below are examples of setting the bet you will except against your loss limit using the odds you are willing to give. EXAMPLE 1 Loss limit £100.00 Odds given 2.15 Take away 1.00 (The stake ) equals 1.15 £100.00 Divided by 1.5 equals £66.66 The maximum bet you will now accept is £66.66 When the horse loses the race you win their bet off £66.66 Should the horse win the race you pay out £100.00 (£66.66 x1.5) your loss limit EXAMPLE 2: Loss limit £150.00 Odds given 2.15 Take away 1.00 (The stake ) equals 1.15 £150.00 Divided by 1.15 equals £130.43 The maximum bet you will now accept is £130.43 When the horse loses the race you win their bet of £130.43 Should the horse win the race you pay out £150.00 (£130.43 x 2.68) your loss limit EXAMPLE 3 Loss limit £200.00 Odds given 2.15 Take away 1.00 (The stake ) equals 1.15 £200.00 Divided by 1.15 equals £173.91 The maximum bet you will now accept is £173.91 When the horse loses the race you irwin their bet of £173.91 Should the horse win the race you pay out £200.00 (£173.91 x 1.15) your loss limit When laying or baking with the Betting Exchanches you can either acept the odds being asked for or set your own odds. Just remember the lower the odds you can get the higher the bets you can take and the more money you can win, In all three examples you are in control, -You decide your loss limit, -You decide on the odds, -You control how much you want to win against how much you are prepared to lose. Laying losing favourites with low odds is where the money is to be made. |
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