Why use Betfair - Better Odds
Probably the best reason for using betfair as your bookmaker is simply - better odds!!!
All the advertising that betfair makes about getting better odds is true. I've used betfair for over 5 years now and over 90% of the time the odds offered on the betting exchange are better than traditional bookmakers. Sometimes the odds are just marginally better, but often they are significantly better. I've received $2.20 for a favourite that was $1.80 on traditional bookmakers and the TAB. The odds can be significantly better at betfair when your backing a horse at a mid-price or an outsider in big races here in Australia.
Tonight's (14th April 2009) Champions League quarter final between Chelsea and Liverpool is a great example. On Betfair, you can get $2.50 for a Chelsea victory, while bookmakers in Australia are only offering $2.20 for the same result - that's a 30% better return.
Yes betfair do take a commission (up to 5%) but the commission paid is based on your profit, rather than your total collect. e.g. if you had $10 on a winner paying $2, you would win $20, making $10 profit - therefore you pay $0.50 commission and collect $19.50.
Using the AFL as an example, if two teams were considered equal chances, on betfair you would receive $2 for either team, with other betting agencies probably offering $1.85 or $1.90 for each. If you backed the winner, after commission your profit would be at least 5% extra - and this is on a two horse race!!!
Remember the more you turnover on betfair reduces the percentage rate of commission you pay!!!
