Odds for the 2011 Premiership title are up on Betfair already. Before we start dive in to the subject of football antepost odds on Betfair first lets look at what this post will be about. For those who are unsure what antepost odds mean or for those who need a refresher we’ll look at the definition. As the post title suggests antepost odds can be helpful for people who want to be there own bookmaker. In this post we describe how ante post football betting on Betfair can be used by budding bookmakers. There is something for everyone here. Professional gamblers may pick up a tip or two and the novice will get one step closer to making a regular income on Betfair.
In a recent post discussing what steps to take to become your own bookmaker we discussed the theory of how to be your own bookmaker. One of the difficulties with making this work in practice is balancing the book. Real bookmakers balance the sports book in order to guarantee themselves a profit. On individual events they may either be in profit or in a loss. In a sense they are taking a gamble. But the overall result of all the events they price should secure a profit. Anyone wanting to be their own bookmaker needs to have the same goal.
The amateur bookmaker’s sports book will concentrate on much fewer sports and events than the traditional type. Although, this is only limited by your bank balance. In the previous post, which you can link to below, we looked a some simple steps to making a sports book. Here we concentrate on using antepost odds to kick start a sports book.
What are ante post odds? The term originated in the horse racing industry. Bookies would price odds before the horse got to the post for ‘the off’. Now being used in more general terms, ante post odds can be found on various sports, including football. After the Premier League title fight ends bookmakers post their ante post odds for next season.
Football ante post odds on Betfair
Posted in: Betting Exchange, Sports Fixed Odds Betting.
Tagged: being a bookmaker · betting exchange
Our friends at Betting School.com have just introduced a new selection system. The private members have been using it for a while. All horse racing Betfair betting systems rely on a trust worthy selection system. Various techniques should be used to increase a betting system’s return on investment. Here’s an example of a market information technique that uses The Racing Post forecast price to do just that.
The concept is simple. Each race is viewed on a daily basis. Starting at The Racing Post website. The Racing Post have a number of seasoned experts in the racing industry. These experts combine their knowledge to produce a Racing Post forecast price for each horse.
This selection technique hunts for a horse who has significantly shorter odds in the Racing Post forecast compared to the best odds offered by the bookmakers. As always nothing can be this simple. We’ll hand you over to Ricky Taylor at Betting School.com in the video below. It provides examples of how to use this system to increase the strike rate of a Betfair betting system.
How to use the Racing Post forecast for betting on Betfair
Posted in: Betting Exchange, Sports Fixed Odds Betting.
The Let’s Compare Bets blog has had a few requests recently about about how to become a bookmaker. At the Let’s Compare Bets main website we have written about pricing odds. It’s one thing to know some basics about pricing odds and but to become a bookmaker there are some key tips to use. This post looks at the 5 steps to becoming a bookmaker and has taken some snippets found on the price your own odds page at the main site. The price your own odds page examines how bookmakers aspire to have their cake and eat it. You’ll see what I mean.
5 Steps to becoming a bookmaker
Posted in: Betting Exchange.
Tagged: being a bookmaker · betting exchange
Writing about betting exchanges is so easy. There’s so much to talk about. Merging stock market principles of supply and demand with sports betting has been a master stroke…. a innovative idea that has added another dimension to sports betting. Here we are going to continue our ‘battle of the betting exchanges’ series. In the previous posts “Betfair.com or Betdaq.com which is better?” and “Who has the best odds, Betfair or Betdaq?” we compared the two most used betting exchanges available.
After reading those posts again this week they just seem to be a little biased towards Betfair. The goal of Let’s Compare Bets is to compare betting in an unbiased way so it’s time for an update. First we’ll look at 5 ways that Betfair is better than Betdaq. To keep the argument balanced we’ll look at 5 ways that Betdaq is better than Betfair. Can’t say fairer than that now can we.
Compare Betdaq's benefits to Betfair
Posted in: Reviews, Sports Fixed Odds Betting.
Niall O’Conner over at bettingmarket.com has written an informative article about the rise of the betting exchange. Written using Betfair the worlds largest betting exchange as an example. It describes how the betting exchanges have taken the betting industry by storm. Traditional bookmakers originally took offense to the idea that the public can bet that something won’t happen. There have been scandals surrounding abnormal betting patterns and the ease with which the system can be abused. Viz, it’s easier to ensure that a horse won’t win a race than it is for it to win the race.
Race fixing is an obvious concern but not without an agenda. Niall argues that the bookmakers are bashing Betfair because they are fearful of the competition. Competition which is essentially stomping all over a market which has been cornered by the big names of traditional sports bookmaking. Let’s face it corruption in horse racing is not a new phenomenon. Bookmakers have never been concerned about this before, well, not so publicly. Amongst other things there have been a number of complaints by bookmakers pertaining to Betfair’s advertising campaigns that highlighted the fact the bookmakers operate with fat margins. The fatter the margin the less money paid to punters. So traditional bookmakers weren’t happy. Others in opposition to the betting exchange includes the British Horse racing Board chairman Martin Broughton and various horse racing authorities. The Japanese Horse Racing Authority released a statement…
“Our position on betting exchanges has been and remains, quite clear. We strongly believe that it destroys the integrity of our sports and will ruin thoroughbred racing. Japanese racing is televised in Australia from time to time but they are not intended to be used for the purpose of betting exchanges. Therefore, we respectfully request that Betfair Pty Ltd refrain from using our race events for betting exchanges. I trust you understand our position and I thank you for your cooperation.”
But these concerns have not stopped the growth of the popular betting exchanges. Betfair has now reached over 1 million users and their profits are still growing. Whilst the betting exchange has some great selling points not all betting exchanges have been a great success. There have been many failures and none of Betfair’s peers can rival it’s success. Said peers include Livebetting, Betdaq, Betsson, Tradesports and Matchbook catering to the USA. Operators like Betsson have blurred the lines dividing the betting exchange model and traditional fixed odds bookmakers. The website offers normal sports betting and an option to use a betting exchange thus mixing the two types of betting. The others all offer a betting exchange only.
Betfair’s competition all suffer from the same problem, which revolves around the fact that there is not sufficient liquidity in their markets for all bets to be matched quickly. Betfair’s success can be attributed to first mover advantage. They where the first company to develop the best technology and corner the market. A higher number of users has really helped them create a thriving market for members to back and lay a wide range and many aspects of sporting events.
For users, the only potential problems they may have with Betfair is that large bets will not get fully matched by other members. Whereas traditional bookmakers will cater for the ‘high roller’. A slight concern is the commission that Betfair charges. Due to their dominance of the betting exchange market they have no need to compete with other exchanges for commission rates. One positive outcome of this is that Betfair’s competitors do compete for business by offering lower commission rates.
Let’s look at the reasons why the betting exchange has become so popular. This following peace has been taken from “Trading without Dark Pools – The story of how Betfair and the betting exchanges revolutionised the betting market” (Niall O’Connor 2009 All Rights Reserved).
What are the benefits of using Betfair
Posted in: Betting Exchange, Horse Race Betting.
