Arbing Each way bets?

[OvergrownHeffo]

Hi guys, I've recently learned about "bad each way" bets which is essentially just arbing each way bets. Every video I've watched and forum I've read on it suggests backing each way with a bookie, then laying the win portion on the exchange (for a small loss) and laying the place market (for a bigger gain). Only some races with specific conditions (& clear favourites) would work usually. However I've noticed betfair has its own each way market. When the lay odds on the BF E/W market are lower that the bookies back odds, why don't people just use that instead of breaking the exchange bets in two with the win and place markets? I feel like Im missing something here

[Derek27]

Hi guys, I've recently learned about "bad each way" bets which is essentially just arbing each way bets. Every video I've watched and forum I've read on it suggests backing each way with a bookie, then laying the win portion on the exchange (for a small loss) and laying the place market (for a bigger gain). Only some races with specific conditions (& clear favourites) would work usually. However I've noticed betfair has its own each way market. When the lay odds on the BF E/W market are lower that the bookies back odds, why don't people just use that instead of breaking the exchange bets in two with the win and place markets? I feel like Im missing something here

Both, the win and place odds will be different in the EW markets, the EW price takes into account you are obliged to back/lay it place, and the place odds are a fraction of the win odds, as opposed to the place market where people are free to offer whatever price they like.

[OvergrownHeffo]

A-ha, thank you that's exactly what I was missing. Its the fact that bookies work out the e/w odds as a fraction of the wins odds which allows us to suck out some profit in some circumstances, so with the e/w market on BF, it just does the exact same thing. So you'd be much better off getting involved in the place only market on BF as its much closer to the true odds and would allow for more profit. Thank you for the explanation