Premier Information: Against All The Odds!

It's Tuesday, the Great British weather is treating us mighty fine at Premier HQ. Whilst we're all back with our noses to the grindstone, I thought I'd spend 5 minutes continuing on from the article last week on the Betting Exchange.

Today we will look at one of the aspects of betting that confuses the best of us and can quite easily put off newbies making a punt!

Exchange Odds.

Odds on Betting Exchanges are presented in decimals, whereas in general bookmaking they are in fractions. Betting Exchange odds, as in Pool betting (Tote etc) include the backers one point stake in the presentation of odds.

6/4  is represented by 2.5. 2/1 is represented by 3.0 and an odds on price of 4/5 would be represented by 1.8 The Betting Exchanges allow their clients the possibility of a dual role.   That is of being either a bettor or a layer of odds.   Initially this may present a challenge to the normal perception of only making a profit by selecting winners. Now there is the opportunity to profit from finding a loser!

If you lay a horse, you are effectively assuming the role of bookmaker. It works like this: Imagine you are strongly of the view that the favourite, lets call him “Exchange Newbie” running in the 3pm at Haydock is NOT likely to win. Perhaps after studying hard you feel this is a poor favourite and with many other good horses in the race, you wish to oppose this horse. In such circumstances, you can LAY “Exchange Newbie”. The horse is trading at 2/1. You oppose him and lay him for £25. Another exchange client, feels this horse will win. He takes the opportunity to back him at £25 at 2/1. You are now in a position where if the horse loses you get to keep the £25 stake.   If the horse wins, because you are acting as the bookmaker, you would have to pay out £50.   Just as Mr Ladbrokes would have to pay you £50 if you had a £25 bet at 2/1 with him!

Is risking £50 to make £25 value? Well obviously that is a subjective view prior to the race and the only after the events can you say for certain. However,  you need to keep in mind, that if “Exchange Newbie” was running in a ten runner race, there are actually nine other horses actually running on your side so to speak! If you had good reason to think the horse was a vulnerable favourite, then it quite possible that laying the horse in those circumstances was value.   

The important thing to remember when laying is that you must think like a bookmaker. Once you have the approach and mind set correct, then opportunities to profit certainly exist.

Until next time! Be sure to check out our Twitter account for all the latest updates found at www.twitter.com/premierinfouk