The betting world was transformed with the innovation of Betfair betting exchange that was founded in 2000.
Personally, I say: ‘Thank the Lord for betting exchanges.’
Any gambler who is a winner knows traditional bookmakers are impossible to bet. In fact, you have more chance of your account being restricted or closed. I’m pretty sure most are restricted as they don’t want to be seen for closing account.
It just isn’t playing the game.
When you hear the words turf accountant you are best to consider the latter of the two words.
There aren’t enough negative words to detail my thoughts about bookmakers.
So, we are looking at betting exchanges.
I have to betting exchange accounts: Betfair & Betdaq.
I haven’t used Betdaq although I do have money in the account. So Betfair is my go-to exchange and it has been a blessing. Saying that, I have had the odd problem when updating my account and one time it vanishing off the face of the Earth. However, it popped back up when I sent proof of identity and all that stuff.
I guess that’s the world we live in.
In essence, the betting exchanges make the perfect market. They do a job which once was the haven of odds compilers.
But how do we bet use the betting exchanges to make money as a backer rather than a layer? Those horses at the top of the market are often similar to the bookmakers. There will be slight variations and any price difference will be picked off. However, it is a changing market so there will always be peaks and troughs. The best angle for backers on exchanges come from betting on outsiders. If you have a fancy that’s 33/1 with bookmakers it could well be double or treble the odds on the exchanges. It’s such a marked difference that it simple cannot be ignored. Also, it is worth remembering that there are many traders on the exchanges. They have many and varied ways of working. Often they back a horse being backed and lay and horse being laid. It makes sense as this technique almost guarantees a profit unless you are caught by the extremes. This can be good news for backers if they fancy an outsider as they can be pushed to the limit. Often this may indicate a horse with less chance of winning (as if someone knows it won’t be tasting victory) but it doesn’t mean these horses cannot win as they often do.
In my opinion, betting exchanges offer a much more value and less problems than traditional bookmakers who are simply not interested in giving punters a fair deal. If they have the slightest thought you can win money they will restrict or close your account. It becomes a problem you don’t need.