Hello,
I had a discussion with a friend over bookies vs the exchange...
His opinion is :
"If the bookies WOULDN'T ban winners (or limit their stakes), a *punter* in the LONG run can be more successful with them than with the exchange."
My opinion is of course the opposite.
What do you think?
Bookies vs Exchange
The advent of premium charge probably means that the answer is subjective to each individual.
Is it beyond the realms of possibility that one day bookmaker prices will be displayed as market-maker quoted prices on stock markets are, with competing prices and available bet sizes clearly visible and freely available to all punters? I suppose that would require legislation - "you can't lay bets unless you display the size you'll lay to all comers. If you can't lay any more, change your price."
I doubt Ladbrokes would lay a single horse bet, mind you!
Is it beyond the realms of possibility that one day bookmaker prices will be displayed as market-maker quoted prices on stock markets are, with competing prices and available bet sizes clearly visible and freely available to all punters? I suppose that would require legislation - "you can't lay bets unless you display the size you'll lay to all comers. If you can't lay any more, change your price."
I doubt Ladbrokes would lay a single horse bet, mind you!
Most punters would love to have unlimited access to the prices displayed by all the bookmakers listed on oddschecker, so i would say for most punters, bookies would be best.
But as everyone knows bookmakers only want your business if you are a small stakes casual punter, large staking loser, or an addict.
So the exchanges are better for that reason, plus you also have the added bonus of being able to lay, and of course being able to trade.
But as everyone knows bookmakers only want your business if you are a small stakes casual punter, large staking loser, or an addict.
So the exchanges are better for that reason, plus you also have the added bonus of being able to lay, and of course being able to trade.
If your looking to make money i don't see any point using bookies, years ago i made money doing football coupons it was only a small amount of money but even at that the people that run the place got to know you and you would get comments like "oh your back again" when i was picking up my winnings, i would have had to throw thousands of pounds at them to make a living and in return they would of told me where to go.
An exchange is the best thing ever in betting, when i joined Betfair about 5 years ago i thought it was the end of bookies! For some reason i'm wrong.
An exchange is the best thing ever in betting, when i joined Betfair about 5 years ago i thought it was the end of bookies! For some reason i'm wrong.
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Bear's The Name
- Posts: 61
- Joined: Thu Mar 05, 2015 9:04 am
If you can back Best Odds Guaranteed at or very close to the Betfair price at morning prices with the bookies you are almost guaranteed to make a profit - I used to do that for consistent profit until the inevitable closures, especially when I was taking advantage of other concessions too e.g. Bet365 4/1+ offer on C4 races. Bet something at 5/1 B.O.G. that's trading 6.0 on Betfair? Nice business if you can keep it.
I have found exchanges are harder because the odds may be fair, but the markets are very efficient.
I have found exchanges are harder because the odds may be fair, but the markets are very efficient.
That's fair comment.Bear's The Name wrote:I have found exchanges are harder because the odds may be fair, but the markets are very efficient.
People lose much less on an exchange, but therefore the winning side of the equation has the same "problem".
The thing I have found interesting over the years is that general biases exist in betting markets and are still present. I figured out that was down to flaws in peoples psychology rather than any general statistical anomaly. Much more present on exchanges that bookies.