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Old 03-01-2009, 08:38 PM   #34
JonOli
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Default Re: British Forum BETTING thread

ON betfair most markets are rounded: For example say you have two boxers with identical chances of winning you'll get evens on both. All you pay is 5% commission on your winnings. They don't run a book as such they make there money through commision. They charge commision to run the exchange, punters bet with each other.

Thats not the case with normal bookies who run books far short of a rounded 100% in order to take a cut themselves. For example Two boxers with an even chance of winning might well both be 4/5, or less, at a normal bookie - the bookie taking the difference on both between 4/5 and 5/5 (evens).

Rather than taking the 5pc commision betfair take - some bookie markets fall 20% or 30% short - or maybe more.

The only trouble with boxing on Betfair is the poor liquidity of the markets, which isn't the case with many other sports on there.
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