It's been already 18 years since Betfair founded and the 'Player vs Player' model which revolutionised the world of betting. It was a very smart and unique idea to give the opportunity to punters (players) to create the odds, to offer the odds, to accept or decline the odds or to leave a ''standing offer'' (unmatched bets) pre game or/and inplay. All that is in your hands and is so easy to be done in seconds via your Betfair account!
What was also very smart about the Betfair Exchange idea, was the fact that completely changed the punters' approach towards a betting company. Betfair charge a small percentage of commission on players' winnings. Therefore, the company is a winner anyway because of the 'Player vs Player' betting model. But what that really means for us?
1) Higher Pre game prices/odds with Betfair. Because of the 'win-win' situation where Betfair Exchange makes money out of the players' winnings, the company has absolutely no reason to interfere with the odds/prices compilation and creation. (This is mostly down to punters. I say mostly because there are other also contributing factors to Exchange pricing creation. e.g Traders or perhaps Betfair also might push cash in Lay markets in order when the liquidity/cash is low).
In most of the popular markets there are better prices. There is no doubt about the scores markets when Bookmakers are really tight because of the Liability/Payout risks.
In Betfair and depends on the market, the prices can be much higher (even if you deduct the commission) and in some cases more than 100%! eg. Any Other Draw (win when is higher than 3-3) can be offered by the bookmakers in separate markets 4-4 and 5-5 but no higher than 450.00 - 500.00 (in rare cases they offer more) when in Betfair it can reach a single price of 1000.00 maximum! (we do not analyse the probabilities here but the odds availability compared to Bookmakers)
2) Betfair offers Higher In Play game prices/odds. In our days the Bookmakers use modern and intelligent online tools. The prices that we see online by them inplay, are calculated based on the probabilities of positive outcomes for the markets, where there is risk for the bookmaker to have an increased payout (Liability). Their odds/prices are also in line and adaptable with the current scores, game conditions (statistics,cards,active or passive game, stats of attacks and shots etc.). When this happens, when the bookmaker ''feels threaten'', they will ''mask'' the odds/prices to cause confusion to the punters and they will not hesitate to 'block' and/or remove markets. For example, look at the screenshots below.
in Under 3.5 goals, still Betfair price is higher.
No comments about making profit in Over 3.5 goals potential outcome, the profit in Betfair is significant higher than the Bookmaker! (PS take into account that I took the screenshots asap after the second goal. Have in mind that because of the ''live making odds'' in Betfair, that's why there is a ''price gap'' between ''Back'' and ''Lay''. A minute after the punters came to more attractive offers and closed the ''price gap''. For example, a minute later, the price for Under 3.5 goals went up to 1.96 and 2.05 for Over 3.5 goals. The price for the bookmaker remained the same until the kick off of the 2nd half and the next 10 minutes in play)
3) Feel free to trade or choose the reliable cashout option. Betfair offers the free choice of trading. It's very easy to manually trade your bets and have a ''win-win'' situation in any outcome when in play, the current score (or other market) is in your bet's favour. When you manually trade, you have the flexibility split the winnings in any proportions you see it fit. In contrast with the most of the bookmakers who they will give you just the option ''Take it or leave it''.
In multiple markets like scores for example, Betfair gives you the opportunity to combine the profit or even spread the amount of potential profit as you see it fit. For example, see the image below.
Now, lets assume that the score is 2-2 in-play but I make a judgement and I think the score will not stay 2-2 until the end. In this case, I decide to cashout partially my profit from the 2-2 score and have profit across any other potential scores result EXCEPT the case of 3-3.
If 3-3 would be the final score, my profit would be £291.18 after trading when initially I would not earn more than £261.72. Since the current score 2-2 remains and the prices drop, it's in my hands (and the available Lay prices) to set my potential profit across all other scores by just Laying the score 2-2.
For the readers who have no idea about Exchange and looks ''gibberish', just see it this way. When the current score is in your bet's favour but you think that you might lose it in the end, then you can ''sacrifice'' profit for other scores favour and perhaps you come out of that a bigger winner! The bookmakers are still ''scratching'' their heads about this feature in Exchange.
If you don't want to trade, Betfair offers a cashout option which ''does not hold back'' the profit as it happens many times with the Bookmakers. The reasons are explained above and are simple. Betfair's cashout available amount is depending on the odds you have bet on and the available prices the other punters offer in-play.
3a) When you cash-out and how to calculate your profit? Big topic for conversation. Definitely you should have come up with a strategy and first of all do you know your betting company well?
For example. If you bet an 2.5 over goals @ 2.00 or higher and it happens 2 goals in 20 - to 35 minutes, and cash out gives profit 75% to 85%. I will cashout.
When NOT to cashout? Very rarely I cash out when I get less than 50% of the profit, unless there are Red Cards or other conditions which do not benefit my bet. If my score is not coming through in play then I do NOT cashout! If it comes through early in the game, and it depends on the timining I would consider profit of 50% or higher. Certainly from the 80' minute of the game and later on, I shall cash out out and under reasonable conditions. I should have a good profit with at least over 80% on Betfair's Exchange.
4) The New Sportsbook powered by Exchange. This is sweet. We talk about a Bookmaker within Betfair Exchange. Why this happens? The main problem is that in Exchange, you can't create a multiple coupon and there are many punters who love multiples! Betfair could not disregard this and loaded their own SportsBook.
Its very user friendly in my view, with nice eye catching colours and competitive prices/odds with other bookmakers. Now, in most popular sports and football leagues, Betfair's Sportsbook offer the ''Price Rush'' option when the prices are pushed higher by the power of Exchange.
Don't get me wrong, there is no way the Sportsbook to have same price with Exchange but the boost will be significant. I have compared many a ''Rush Price'' multiple in football with other popular bookmakers and the payout was same or higher most of the times.
Another feature which is really cool on Betfair's Sportsbook, is the ability to cashout most of the markets and Special Combination Bets such as: Patent, Lucky 15 etc. Also it splits the cashout options of your multiples! e.g you create a coupon of 5 games and bet on trebles, fourfolds and fivefold. Betfair will provide you 3 cashout options for this multiple!
This is amazing, in contrast with most of the other bookmakers who will let you cashout only the straight multiples like treble, fourfold etc. or in case of the above example some Bookmakers would allow you to cashout only the highest one which is Fivefold in this case.
Mainly for the above reasons, this is why I recommend Betfair Exchange. The account will never close because you are a winner. If you win then Betfair earns commission and sounds Fair to me.
Open your Betfair account today and bet on the REAL prices! Feel free to show your appreciation to 4LiveSports and open an account via this suggested link.