Backing and Laying on Betfair
I used to think that the advantage was firmly with the backers on Betfair. It seemed logical - but only because you had something to compare betfair prices against - bookmakers odds. People would look at the odds on offer with a bookmaker at e.g. 4/1 and see that 9/2 was available on Betfair and then assume that they were getting great value.
In a sense they were getting 'great value' - but not real value. The bookmakers have a large commission built in to their percentage book. Betfair has a much narrower percentage book but at the off - the prices on offer are not value - they are just better value than the bookmakers - which isn't saying much! Then you also need to factor in your commission. For many people this will be 5%.
Anyway Betfair does not really favour backers or layers - taking Betfair SP for backs or lays won't generate any meaningful profit long term - certainly not after commission is applied.
posted by Betting Exchange Trader
