Posts Tagged ‘Exchanges’
There’s no doubt that they’ve created a new era in the betting world. Betting on horse racing via betting exchanges has revolutionized the way that we can place a bet now, but are they everything that we think they are?
You’ve most probably heard about them and you may have even seen them, but why has there been such a buzz about betting on horses using betting exchanges, rather than the traditional bookie?
In this article, I will explain the basics of what a betting exchange is, and why I think that using them gives you a better chance of increasing your horse racing profits.
What Exactly Is A Betting Exchange?
A betting exchange is essentially a betting arena if you like (Betfair being the most popular at this point in time), that enables individual punters that have opposing views about, for example, a particular race, to bet against each other.
This is very different to how it works with a traditional bookie, where everyone is betting on horses with the aim to beat the bookie himself. Betting exchanges are different, and in a sense they have cut out the traditional bookmaker altogether.
All bets placed on horses via betting exchanges, fall into two categories generally; some bets are placed by users who may want to bet in the more traditional way – by backing a horse to win the race. So in this type of bet, you select a horse that you think can win its race, and you place a bet on it to win.
Other punters however, may think a horse will not win its given race and prefer to offer odds to other punters. This is known as laying, and I will explain how this works in a little more detail now.
The Difference Between Backing and Laying
Backing a horse to win works in essentially the same way, whether you are using a betting exchange or a conventional bookmaker. So as I’ve just mentioned, you are betting that the horse will win the race and if it does, then you win your bet.
However, if you feel that a certain horse can not possibly win its race, then you can place what is known as a ‘lay’ bet on the horse in question.
What this simply means is that you are betting against the horse winning its race, and you are also hoping that there are punters out there that disagree with you, and so they will back it to win.
Its this type of scenario that has enabled betting exchanges to take betting on horse racing, as well as other events too, to a different level.
Look At This In More Detail
Here’s an example – You may well be betting on horses and feel that a particular horse, lets call it ‘Three Legged Donkey’, cannot possibly win its race.
What you are doing by placing a lay bet is essentially offering odds to other punters who may wish to back the horse, as they think that it will win.
So you think the horse will lose, but they think the horse will win.
In the event that ‘Three Legged Donkey’ doesn’t win its race, you pick up their (the backer’s) stake and so your bet is successful. However, if the horse does somehow win the race, then you must pay out to them.
How much you win or how much you have to pay out in the event of a loss is determined by how much you’ve bet and what the odds are, much the same as in conventional betting.
This is discussed in more detail in a subsequent article, but I hope that this gives you an idea of what betting exchanges are, what they offer and why if you’re someone who likes betting on horse racing, you really need to have an account.
Article source:Football Internet Betting
In part one of this article series, I covered the basics about betting on horses with betting exchanges and showed why they have become so popular with punters.
I also went through three key reasons why you should use betting exchanges, whether you’re using a horse racing tipster service or backing your own judgment of the horses. You may have a friend giving you racing tips on the sly (and for free) or you may be using some of the many horse racing systems that are out there.
However you are selecting your horses, betting with betting exchanges is certainly something that you should be doing.
And so in this article, I will explain some of the more technical and detailed facets of using a betting exchange, that could enable you to profit even more from your horse racing exploits.
And when I use words like technical and detailed, you’ll be pleased to hear that I do not mean complicated. So let’s crack on and look at these four key elements that could enable you to make more profit from horse racing.
Reason One – Get Prices For Horses 24 Hours A Day
I don’t know about you, but one of the real frustrations I have as a punter is reading the newspaper or hearing on the television of a good early price for a horse, yet when you go on the internet to check, prices are not always available.
And of course there is not a bookie in the land that opens there doors at 7am, so that avenue is blocked off as well.
With a betting exchange however, you can place a bet whenever you want. This enables you to take advantage of the often advantageous early prices of horses, long before everyone else starts lumping their cash on, leading to the price coming down.
Some of my members actually place their bets as soon as I advise them in the morning, meaning that they can take the best priced odds available, or indeed as I mentioned in the previous article, by naming their own price to see if it gets matched.
Reason Two – No Limit On Betting Stakes
How frustrated would you be if you’d received information from your horse racing tipster, about a gem of a horse that was over valued in price and likely to win its race, only to discover that putting a substantial bet on at 20/1 was out of the question?
Well, it can and does happen. More so in the local high street bookies, where you may be given the option to have some of the bet at 20/1 and some of the bet at the Starting Price – which is likely to be far lower come race time.
By betting on horse racing using an exchange, this does not happen. If you place a request to back a horse for a large sum at 20/1 and another punter is willing to lay the bet at that price, then you are able to have your bet placed without any questions being asked
Reason Three – The Race Has Started, But You Can Still Place Your Bet.
If you’ve ever got to the bookies just as a race is about to start, only to be told by the ‘friendly’ assistant behind the desk that you’re too late to place your bet, then you’ll like this one.
Betting exchanges actually allow you to continue placing bets on horses in a race, even after the race has started. This is something that is both new and requires nerves of steel, as while the race is still going, the betting market for each horse is constantly changing as each horse jostles for position in the race.
Of course, in the longer races, say a two mile hurdle race, there is a little more time to think, but in a five furlong sprint race you do not have much time at all, in fact most races are over in 60 seconds or less!
I must admit that this is not something that I myself do, as it is simply too risky for my betting philosophy, however there are plenty that do like the excitement of it, and profit from it.
Reason Four – Trading Your Bets To Secure Yourself A Profit
I’ve deliberately left this one until last, as it is a kind of an underground betting tactic if you like, although it is now growing in popularity. It’s a tactic often used by traders who play the financial markets, but it can be used for betting on horse racing as well, and can guarantee you a profit on a given race.
Guarantee a profit I hear you say, never. Well, let me explain:
Imagine that you’ve chosen to back a horse at 5/1 in a race. You think the price will shorten come race time, and so you’ve done the right thing and taken the early price. Having secured your early price of 5/1, you place your bet of £50 on the horse.
As race time approaches, you notice that the price of your horse has come in from the 5/1 that you backed it at, to a price of 2/1. Due to the drop in price, you could also decide to lay the horse to lose and place £75 on that bet.
So, how are you guaranteeing a profit by doing this? Well, there are of course only two possible outcomes for the horse that you’ve selected -it will either win the race or it will not.
If your horse wins its race, your winning bet will profit you £250 (£50 at a price of 5/1) but your lay bet was not successful and so you will pay out £75 for this. Therefore your total profit is £250 less £75, which is £175.
However, if your horse loses it race, your lay bet will profit you £150 (£75 at a price of 2/1) but your ‘to win’ bet was not successful and so you will pay out £50 for this. Therefore your total profit is £150 less £50, which is £100.
So there you have it, it is possible to guarantee that you make a profit in a race, if you are able to back the horse at one price and lay it at another (lower) price. This can also be done in reverse too, so you could lay a horse to begin with, and if its price drifts out (increases) then you can guarantee profits by backing the horse at the higher price.
So this concludes part two, the final part of this article series regarding betting on horses using the betting exchanges. As you can see, there really is no mystique surrounding them and I highly recommend that you give them a go.
Article source:Football Internet Betting
Sports betting blogs are useful for the online sports better as they provide information about the existing and newly-released sportsbook for sportsbetting and sportsbook deposits. They are also a precise source of insight into other sports betting information such as the sportsbook, that are useful to most of the sports investors, the methods of depositing funds to sports account, etc. These days, sports betting exchange are the most discussed topics of the blogs.
In the past few years the sports betting exchanges are becoming more popular among the sports bettors for their user friendliness. On betting exchanges, the bettors bet against other sports betting fans instead of betting against the book makers. Earlier, the bettors were skeptical about choosing the option as they were not sure about the liquidity. Some of the betting exchanges were even difficult for them to use. But, these days, the sports betting exchanges are having the look of sportsbook, attracting more and more bettors to wager. Furthermore, you can offer betting odds and play the role of a bookmaker. Sometimes, you may find better lines and odds than sportsbooks.
The sports betting blogs have described many advantages associated with betting exchanges.
Apart from the advantages of the sports betting exchanges, there are some of the disadvantages that still deter the sports bettors to wager on the exchanges.
For the newbie sports bettors, it is important to go through the sports betting blogs to get first hand knowledge about sports betting exchanges.
Article source:Football Internet Betting
The evolution of the online betting exchange is the answer to a struggling speculator’s prayer. Whether you seek fast action as a daytrader or prefer the slower-paced analysis of finding pre-event value plays, this environment can be the solution. It doesn’t matter if you are only interested in the daily financial closings, or if you are open minded enough to speculate in any market where you can get an edge(hopefully you find yourself in the latter camp). The ability to participate in a diverse, well-run exchange where participants freely match wits among themselves removes many of the obstacles to successful speculation.
There are several reasons for this, but the most obvious is that middlemen (such as brokers) have been taken out of the trading equation! No broker taking a commission from your side of an opened trade, no broker taking a commission from your opponent’s side of an opened trade, no broker taking a commission from your side of the closed trade, and no broker taking a commission from your opponent’s side of the closed trade. That adds up to a whole lot more money left on the table, and hopefully you already understand why this makes all the difference in the world.
Yes, there are exchange fees. Betting exchanges are not a charity either. However, these fees are minimal. Compared to broker commissions, they are like an anthill against a mountain. As a smart trader you will be paying less in exchange fees than the average player anyway, as you are about to learn.
Some of the better exchanges employ Market Makers to provide contract liquidity. The spreads are reasonable, and any quote that has what you think is too large of a spread can be exploited by you for profits. Not only can you “play market maker” by stepping in front of the bid and ask prices, but as an individual you can become an official market maker yourself if you choose. Try doing that in the stock or commodities markets!
You will need to make some adjustments from the kind of trading you are familiar with. ( Fortunately the biggest adjustment is that you can now trade with an edge instead of fighting one.) It’s going to take a little getting used to the marketplace if you are a newbie. Keep an open mind and be willing to put the past behind you and explore new markets.
Most commodities are not available to trade, even at the larger betting exchanges (Betfair, Tradesports, Hedgestreet, and Matchbook). You can trade Oil, Gold, and the major currency pairs – and of course stock market indices. You must trade these in the formats that they are offered in. Stock indices have Intraday, Daily, Weekly, and Year End contracts, while most currencies and commodities only trade via Year End contracts. Some markets see higher volume than others. My advice is to stick to the higher volume contracts so your positions will be liquid. This way you can get out with a profit when the market moves in your direction, and cut your losses short when it doesn’t.
If daytrading is your thing, you can do that with the stock indices and also sporting events. You will likely find it much easier to open good intraday positions on in-running sporting events than on the vehicles you were daytrading before.
For all you may be giving up with your old broker account, you are gaining more with a betting exchange account. There are always new contracts being added – fun markets where you can clearly see how to get an advantage. For example, you can wager on the release of major economic numbers that impact the financial markets directly. Current events such as the passage of new laws or appointments of governmental positions. Entertainment awards and weekend box office receipts. The outcome of high profile court cases, international affairs, and hurricane paths. And of course every major sport including golf, NASCAR, and tennis.
They are always coming up with new stuff. For anything that people have an interest in the outcome of, a futures contract can be (and often is) created at the betting exchanges. Enter and exit your positions wisely, employ good money management rules, and watch your account balance soar.
Article source:Football Internet Betting
They’re so popular these days that I am sure that most people will have heard of a betting exchange. Betting on horses via betting exchanges has completely changed the way punters place their bets, but why should you consider using one?
Betting exchanges burst on to the scene in the late 1990s to much skepticism to begin with, it has to be said. Punters were wondering what this new breed of bookmaker was all about. A betting exchange is simply a different type of bookmaker that gives punters the opportunity to bet against other punters who have a different opinion regarding a horse race for example.
Let’s Explain The Difference In A Bit More Detail
Of course when you’re betting on horses with a traditional bookie, you place your bet with the aim of beating the bookie, be it at your local betting shop or an on-course bookmaker. If your horse is successful then you win money directly form that bookmaker making you happy and the bookmaker not so happy.
Betting exchanges however, are a bit different. What they do is pit punter against punter so that if you like the look of a horse to win a race, but another punter doesn’t like the look of that horse, then you can effectively go head-to-head. So in fact, you would be betting that horse wins the race whereas the other punter would be betting that the horse does not win, also called ‘laying’. I’ll explain the difference between the two later on in this article.
Whether that horse wins or not, someone is going to win some money. If the horse ends up winning the race then you would take money off the punter would thought that the horse wouldn’t win, but if the horse fails to win then you would pay your counterpart.
Why Laying A Horse To Lose Has Become So Popular
This is perhaps the one area which most clearly separates betting with a traditional bookmaker from betting on horses through a betting exchange.
Traditionally, all we as punters have been able to do is back a horse to win or to be placed. Now that’s all changed. Betting on a horse to win or to be placed does basically work in the same way whether you use a conventional bookmaker or a betting exchange. Simply put, you put your money on your horse and if it wins or is placed then you will receive some money back for your bet.
However, where betting exchanges have changed the playing field is by offering you the punter the opportunity to select a horse that you feel will not win it’s given race.
So what this entitles you to do is to look for a horse that you think will not win its race, and place what is known as a ‘lay’ bet. Let’s use an example. You’re looking through the racing section in your newspaper and you notice that a horse cannot possibly win its race. You decide that you want to place a lay bet on this horse, and so what you are doing is in a sense offering odds to other punters who think that the horse will in fact win.
Of course, if your horse fails to you will take the backer’s stake from him, but if the horse does win the race, then you must pay out.
Why Use Betting Exchanges As Opposed To Conventional Bookmakers?
I’ll now explain what I believe to be the key benefits of using a betting exchange. I’ll be giving you my ‘lucky’ seven reasons for betting on horses using betting exchanges over the course of two articles. The first three reasons are listed below:
Betting Exchanges Generally Offer Better Odds To Punters
A bit of a no-brainer this I suppose. As a punter, getting the best possible price is crucial. Even a minute increase in price can enable you to improve your long term profits significantly.
Traditional bookmakers have upped their game a little by offering slightly better prices than they have previously, but because of the way they operate they will never be able to directly compete with betting exchanges. This is because at the end of the day they are a bookmaker and they have to make money through a difference in odds – what they’re prepared to offer you versus what they think the market value is.
Betting through the exchanges is very different as there is no longer a middle man involved. Betting exchanges make their money by taking a small commission on each successful bet that is placed. Basically if you win, so do they and so they perceived as more friendly towards the punter.
Betting exchanges will also enable you to ask for the odds that you want. Can you imagine the reaction you would get if you strolled up to an on-course bookie and asked for a much more favourable price (for you) on a particular horse? This is the difference, as betting exchanges are all about punter versus punter, so as long as there’s someone out there willing to oppose your views, you can get the bet that you want.
Winning And Losing Horses Mean You Win
We have of course already touched on the subject of laying a horse to lose but this is just another reason why punters are leaning more and more towards betting on the betting exchanges. In a sense they allow you to play the role of the bookmaker (as this is what they do – they oppose your bet), therefore giving you the opportunity to bet that a particular horse will not win its race.
Betting Exchanges Won’t Close Your Account If You’re Too Successful
If you’ve read any of my previous articles or you’re familiar with my horse racing tipster service then you’ll know that I’m a firm believer in managing your money effectively.
A betting exchange allows you to do this perfectly as they would never dream of closing your account purely because you were pocketing lots of money. The reason betting exchanges are more than happy for you to continue winning is they of course make a small commission from your winning bets; unlike a conventional bookie where you’re eating in their profits.
So these are my first three reasons why betting on horses using betting exchanges is important for a punter to succeed. I will complete the ‘lucky’ seven reasons and cover the remaining four reasons in a separate article.
Article source:Football Internet Betting
