Profitable Horse Racing Betting-Bookmakers Or Betting Exchanges! Which Should You Use?

This is a question I have been asked many times and there is a
simple 1 word answer:

*** BOTH ***

Yes, you should be using Bookmakers AND Betting Exchanges to
maximise your returns…

–>Background

This may surprise some of you. Maybe you have heard the claims of
the major betting exchanges that they offer ‘better odds’ than
traditional bookmakers and figures like up to 20% better odds are
often advertised. This may of convinced you to only bet on the
betting exchanges…

Its certainly true that there are many occasions when the betting
exchanges do offer improved odds as claimed but equally there are
many times when bookmakers offer better odds too. We must also
remember that betting exchanges rely on commission payments from
all your winning bets to make their money. This is usually in the
region of 2 – 5% depending upon your betting activity but for the
majority of users it is closer to 5% than 2%. This commission is
effectively lowering the odds you are getting on the exchanges.

What you will quickly notice if you spend a little time looking at
a horse racing market on a betting exchange and on a traditional
bookie is that at the business end of the market (favourites and
leading contenders) the odds are very similar and you will often
find a number of bookies offering better prices than the exchanges
at various times of the day. Alternatively, when you look at the
rags (outsiders) of the race, you will often see much higher prices
offered on the exchanges than the bookies are offering. It’s not
unusual to see 100/1 (101.0) or more offered on exchanges when the
top bookie price is 50/1 (51.0).

–>The Effect of the Rags (Outsiders) on the Odds

The reason for this is that the Betting Exchange odds on these rank
outsiders are much closer to the ‘true’ price for the selection,
with the bookmakers not prepared to go out so high thereby
protecting and increasing their profits with a much higher
‘overround’ than occurs on the exchanges. Remember, bookmakers
effectively make money by balancing their books in such a way that
in theory they should always make money regardless of which horse
wins. This is not strictly true in all cases but for the purpose of
this article assume it to be the case. As you already know, the
betting exchanges make profits from commission payments and
therefore do not rely on overrounds which allows the exchange odds
to be a true representation of each horses real chance of winning.
This results in betting exchange overrounds very close to 100% near
the start of each race.

–>The Favourites and Leading Contenders

At the business end of the markets in and around the favourites, I
guarantee that on any given day as well as finding better prices on
the exchanges for many horses, you will also find some horses that
are offered at better prices with the bookies.

This is where the majority of people concentrate their betting
activity, and therefore they simply must take the best price that
is available to increase their profits.

–>Summary

If you are in the game of backing high priced outsiders, then you
may well find using just betting exchanges like BetFair is the
most profitable way for you to bet. If however, like the majority
of punters, you concentrate your activity on the business end of
the market, you are almost certainly throwing profits away if you
only use bookies or betting exchanges alone.

There is no logic in taking 10/1 (11.0) with a bookie for a
particular horse if the same horse is available to back on the
exchanges at 12/1 (13.0). Remember to take into account betting
exchange commission!

Equally, there is no logic in taking 6/1 (7.0) on an exchange for
a horse that is available at 7/1 (8.0) with a bookmaker.

By doing either of the above you are throwing potential profits
down the drain. This may be all that makes the difference between
you winning or losing long term.

–>How to find the Best Odds On Offer

You might well be thinking that it must be too much hassle to hunt
around looking for the best odds available, but you couldn’t be
further from the truth. There are a number of excellent Odds
Comparison Sites that are free to use and will automatically and
clearly show you the odds being offered for each selection on the
major bookmakers and betting exchanges. A single click on the
appropriate odds for your selection usually takes you straight to
a bit slip so that you can place the bet in seconds…

–>An Important Word of Warning!

Simply by finding the best price being offered for a horse with
the bookmakers does NOT mean you will automatically profit from
your betting. Of course, getting the best price is crucial to
increasing your profits BUT if the horse you have selected is not
‘Good Value’ then it will still be a poor bet.

Let me clarify. If you select a horse to back and find that one
bookie is offering 10/1 when all others are offering 9/1, this is
still NOT a good bet if the true price of the horse should be 11/1.

How to find the horses whose price is offering value is really
key to professional profitable betting.

If you are struggling to find a way to find value horses, feel
free to contact me via my website and I will let you know of the
systems I use to consistently find value and profit from my
horse racing betting.

–>Recommendation

I personally have accounts with all of the major UK bookmakers as
well as with 2 betting exchanges. I place all of my bets using an
odds comparison site with whichever bookie or exchange is
offering me the best returns at the time of the bet. This I feel
is one of the main reasons why I regularly profit from my betting
activity.

I strongly recommend that all of you that bet seriously do the
same. I think you will be surprised how much difference it makes
to your bottom line!

Well that’s it for this article. I hope you find it helpful in your
quest to profit from betting.

Online Bookmakers – Are They All the Same?

The rise of online gambling has ensured that punters have more accessible bookmakers than ever before. A quick count reveals over a hundred bookmakers a UK customer can potentially bet with. But are they all the same?

In any market with so many competitors each will employ different methods to differentiate themselves within the market. Betting is no different in this respect and although on the surface a bet is a bet, the way companies entice you to bet with them can be broken down into 5 basic areas.

1. Free Bets for New customers– This is the most common tool and it usually involves the bookmaker matching the customers 1st bet with a free bet of the same value up to an advertised amount. Free bet offers can be lucrative, but you need to get in quickly- the amounts are starting to be reduced by many bookmakers.

2. Best Prices– All bookmakers set their own prices for each event and obviously some set better prices than others for the same event. Betting with these bookmakers can leave you quid’s in if your selection wins.

3. Free to enter competitions– Some bookmakers provide free competitions provided you register your details for the competition. These can be lucrative; one example of this is Skybet offer a top prize of £100,000 in their free to enter Super6 competition.

4. Existing customer offers– Some bookies have offers open to everyone where they will refund your losing bet if a set event happens i.e. Wayne Rooney scores the last goal in the match. It’s worth knowing about these type of offers as they give you a chance to get your money back as a free bet if your bet loses.

5. Promotions in existing shop or on TV– Most high-street bookmakers also have online betting and they like their customers to register online so they can continue betting when the shop is closed. Many bookmakers now also have TV adverts, but there is never any info on what they do better than anyone else. They hope you will just be loyal to their brand and brand loyalty doesn’t pay in betting.

In conclusion there are 5 main ways online betting companies entice customers to bet with them. If you a new customer the free bet is definitely a factor worth considering, but make sure you check they are reputable before you sign up. It is also worth comparing prices for your bet so you can get the best odds and make more money. Look out for any bonus offers bookmakers have for current customers once you have joined, it’s wise to take any advantage you can. Also look out for free competitions they provide and you can win money for nothing.

Can You Profit From Sports Betting? Discover the Secret of Bookmaking and Offer Your Own Odds

Is it worth trying to compile your own odds?
Find the best way to back your odds?
Compiling your own odds

Well this is what sports betting / investing professional do. If you like sport we’d wager you’ve watched a sporting event and thought to you self a player or team had a good chance of winning. In simple terms this is compiling odds..but not miles apart from the real thing. The difference is that you need to have a methodical approach, which you can repeat in order to come to an opinion about he event.

Think about it, are there enough good odds compilers to go round all the many bookmakers? The good odds compilers are stretched. If your professional in your approach you can spot mistakes and reap rewards.

In a nut shell, be methodical.

Prepare thoroughly to help side step the bookmaker at your chosen sport. Use specialized knowledge if you have it and research you chosen sport. Lets take tennis as an example. For a long time bookmakers odds did not reflect that Roger Federrer, all though impossible to beat on grass courts, is not top of his game on clay courts. This produced a gap between the bookies odds and the true odds. This gap is what you must find and ruthlessly exploit and is known as a value opportunity.

Take a stab at your own odds.

Allow no interruptions when your watching you chosen sport, turn the sound off on your TV or radio: so you can concentrate on the sport. Look at your odds and compare them to the bookmakers – your looking for ways to disagree with the experts. Remember the consensus can often wrong. Less experienced bookies tend to huddle around other compilers odds. Look at the differences, if you have odds of 1/2 and the bookie has 1/3, you have found value – which is where you can profit.

Stick to the favorites.

Use your opinion of the favorite as a benchmark for the whole event. Once you have made your prices look at the bookmakers odds. See how they compare. Ask yourself, do I need to backtrack? If so repeat the process. Start with 2 contestant events. Consider both sides of the argument.

Who has achieved more and why?

  • Is it due to certain players or trainers?
  • How well do they play now?

Look at their recent head to head results.

  • Have they being playing well recently? If so why?
  • Are injuries a factor?
  • What is the emotional factor involved in the event? Will this cause the team / players to produce an unexpected result? Football teams facing relegation often fight the last fight and surprise everyone by doing very well.

Think, what price would you be prepared to invest money on this outcome. Never let your emotions or national pride cloud your judgment. So far so good…where can you start offering your own odds?