Betting exchanges have revolutionised the way in which the modern day bettor bets. They have essentially allowed them to become their own bookmaker – if they so choose – whilst also giving them the option of placing bets as they would with a traditional bookmaker.
The main difference comes in the form of not actually betting against a bookmaker or even exchange for that matter. Instead bettors are placing bets against other bettors in a person to person transfer. This means that the bettor is actually setting their own line and then another person chooses to either take that bet or alternatively lay that bet.
The main difference comes in the form of not actually betting against a bookmaker or even exchange for that matter. Instead bettors are placing bets against other bettors in a person to person transfer. This means that the bettor is actually setting their own line and then another person chooses to either take that bet or alternatively lay that bet.
How it Works
When betting with a traditional bookmaker the bookmaker will set the odds for any specific outcome. The bettor then chooses whether to take those odds by backing that price.
With a betting exchange the bettor has two options; whether to back or to lay. Backing the result works in the same way it would with a traditional bookmaker but selecting the amount you want to place on the odds that are available. Laying the bet means that the bettor can back against that result, basically taking a win for every other result; exactly how a bookmaker would operate.
With a betting exchange the bettor has two options; whether to back or to lay. Backing the result works in the same way it would with a traditional bookmaker but selecting the amount you want to place on the odds that are available. Laying the bet means that the bettor can back against that result, basically taking a win for every other result; exactly how a bookmaker would operate.
How this benefits horse racing punters
Horse racing is one of the biggest sports to use on the exchanges. The benefits of using this kind of betting for horse racing punters are massive. One of the main reasons is simply the often inflated odds you will receive when backing a result. This comes about because of the lack of vig (juice) that is charged on the exchanges. A bookmaker will set their line in accordance with how much has been wagered and the chance a certain horse has in winning that race. This will fluctuate until the start of the race depending how much these variables change. Because an everyday Joe Blogs isn’t working with any of these variables, it often means that that they can entice punters with higher prices without having the need to skimp on the price they are willing to lay. Hence, making the odds more favourable for the backer.
On the flip side of this, if a punter decides that the price seems much lower than the equivalent horse’s chances of winning the race then it may seem like a profitable way to make money by laying that horse. Laying the horse will mean that they get all other results but more often than not will require a smaller winning amount should the horse that they lay lose as compared to backing the winning the horse. So, chances of winning are higher, but potential loses will also increase with laying.
Finally the exchanges allow you to bet in play. This means that as soon as the races start the markets will adjust as the race takes place and unfolds. The option of betting in-play allows punters to apply their knowledge of individual horses and also gauge how each horse is traveling before making a decision on whether they want to back or lay an outcome.
On the flip side of this, if a punter decides that the price seems much lower than the equivalent horse’s chances of winning the race then it may seem like a profitable way to make money by laying that horse. Laying the horse will mean that they get all other results but more often than not will require a smaller winning amount should the horse that they lay lose as compared to backing the winning the horse. So, chances of winning are higher, but potential loses will also increase with laying.
Finally the exchanges allow you to bet in play. This means that as soon as the races start the markets will adjust as the race takes place and unfolds. The option of betting in-play allows punters to apply their knowledge of individual horses and also gauge how each horse is traveling before making a decision on whether they want to back or lay an outcome.
Betfair horse racing app
| | The horse racing section on the Betfair betting app is one of the largest in the industry. They cover racing from around the world and also include a number of high profile, meetings and Antepost markets as well. The race cards are beautifully laid out and couldn’t be any simpler to navigate. You can clearly choose between both your back and lay markets whilst also seeing clearly which horse is racing along with the jockey information and silks. |
On top of that you can flick between different betting markets for horse racing that include daily win distance odds, forecast betting, handicap betting reversed forecast, winning distances and without horses markets.
One thing that is missing from the Betfair horse racing section is a lack of stats on each horse. Usually, with the bigger bookmakers ad exchanges some sort of form guide is on offer but we were surprised to see this feature missing with Betfair.
One thing that is missing from the Betfair horse racing section is a lack of stats on each horse. Usually, with the bigger bookmakers ad exchanges some sort of form guide is on offer but we were surprised to see this feature missing with Betfair.
Betdaq horse racing app
Betdaq have been in the shadows of Betfair for some time now, but they provide a more than adequate alternative to the betting exchange powerhouse. To start with, their app looks really crisp and modern, and is really joy to navigate in between sports and menus.
The horse racing section has been one of the company’s strong points for a number of years now and the betting app is a true reflection of this. You get a mix of UK and Ireland races along with those from around the world including France and South Africa – although these are a little more limited in terms of number of markets.
The betting section for each race is basically a condensed version of their website, but what’s nice about the Betdaq’s betting section is that it includes the next level of odds and not just the current price going. On top of that you can also see how much you can wager on each event before that price has gone and the price moves down a level. This is actually a feature Betfair doesn’t include on their betting app, so kudos here. Odds also react live and there is no need to refresh a page with information included about when the market will be turning live.
Included are the place markets for each race at the bottom of the race card, but unfortunately, again, there are no stats on offer directly from the app.
DOWNLOAD: iPhone/iPad - Android
The horse racing section has been one of the company’s strong points for a number of years now and the betting app is a true reflection of this. You get a mix of UK and Ireland races along with those from around the world including France and South Africa – although these are a little more limited in terms of number of markets.
The betting section for each race is basically a condensed version of their website, but what’s nice about the Betdaq’s betting section is that it includes the next level of odds and not just the current price going. On top of that you can also see how much you can wager on each event before that price has gone and the price moves down a level. This is actually a feature Betfair doesn’t include on their betting app, so kudos here. Odds also react live and there is no need to refresh a page with information included about when the market will be turning live.
Included are the place markets for each race at the bottom of the race card, but unfortunately, again, there are no stats on offer directly from the app.
DOWNLOAD: iPhone/iPad - Android
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