Background…
Back in 2000, Betfair was founded by Andrew Black and Edward Wray. Betfair’s betting exchange was one of the best things that happened to the world of betting, the end of the story. So why isn’t it the stand-out leader today? and why aren’t Betfair promoting it more? After all, it’s what made them famous and put them in a position to compete with other super-bookmakers like William Hill and Ladbrokes.
If anything it seems they are insistent on hiding the exchange! Look at the image below, the main homepage on Betfair is now heavily focused on the ‘Sportsbook’.
If you’re a new customer or not looking for the Exchange specifically it’s unlikely you’ll find it….. They don’t want you to know about it. They aren’t alone either. Over the years other bookmakers have called for changes in betting levy, in attempts to kill off the exchange.
The Difference…
Sadly, most punters don’t even know the difference between the exchange and Sportsbook. The casual punter doesn’t seem all that bothered either if they knew the reality though they might…
For the Sportsbook you’ll see plenty of ‘Money-back extra’ offers and bonuses like the one above. For the exchange, you’ll rarely see anything these days.
Why? Because with the exchange model, a commission is paid on winning bets. With a traditional ‘Sportsbook’ they’ll just clean you out on poor value odds every time, regardless. It may be my personal view too, but I also think the way in which bookies use fractional odds (even though were in 2015 now!) it confuses the average punter.
Since Betfair has focused on the Sportsbook profits have soared. Which isn’t surprising really. I mean as much as any bookie claims they want to give you some ‘value’ or offer you a ‘free gift’ in the form of a ‘free bet’ it’s not free. They’re just setting you up so they can rob you blind… This article about gambling machines makes a fair point where Camden residents lost £16m in one year.
So if you want to save some cash, place your bets for carefully thought out selections on the Exchange rather than Sportsbook, or with any other traditional bookmaker…
Better still, learn to trade the betting exchange! by placing bets to win, against bets to lose at different prices its quite possible to profit in the process. Much like buying something at one price and selling it shortly after for more…
Related: What is Betfair Trading?
Trading betting odds is only pursued by a small group of people as you may imagine. The difference is, they’re the ones that make a lot of money from gambling. Like the bookmakers.
A bit like that old saying goes: if you can’t beat them, join them!
Failing that, if betting’s just a bit of fun to you I’d still advise using the exchange. You’ll just about always get the same odds, and most of the time they’ll be far better!
3 thoughts on “What Bookies Won’t Tell You And How It Can Save You £££’s”
Very well put! Cheers – G.
Do you think betfair exchange will end? It seems like no one( betfair or other interested companies) are willing to promote the exchange markets. A really good trader said that he thinks that in 10 years there will be no more exchange markets… thats a demanding question for famous traders to do to betfair… Is there any possibility that in a near future sporttrading will no longer exist?
on a slightly different topic, how many people would you guess actually make a living on the exchange?