Notes

Ten Reasons to Open a Betting Exchange Account
Betfair and Betdaq are revolutionizing the way punters place bets. The most obvious benefit the exchanges offer over the traditional high street bookmaker is the ability to lay bets on horses to lose their race, as well as the conventional practice of backing them to win.
The pioneer in exchange betting is Betfair and today it operates the most popular betting exchange website.
Betfair is a platform that brings together punters who have opposing views and eliminates the traditional bookmaker. Betfair users can place bets in two ways: backing or offering odds to other punters (laying).
People with opposing views can place bets.
When you "back" a selection (be it an individual, a team, horse, dog or other), you are betting that it will win. This is similar to betting with traditional bookies.
When you "lay" it, you are betting against it winning. For example, if you're betting in a market on which team is going to win the Premiership and you lay Man Utd, you offer odds to other punters who wish to back Man Utd. If Man Utd do not win, then you pick up the backer's stake. If Manchester United wins, you will have to pay out. https://lajupokerq.org/roulette-game-techniques-6-minute-walk-through-part-1/ This is what bookmakers traditionally do.
Listed below are ten compelling reasons to join the revolution and bet on the exchanges:
Better odds: when you place a bet on a betting exchange you do away with the bookmaker, who has traditionally acted as the middle man. The bookmaker gets his cut, just like any other middleman. He will always attempt to construct his book and manipulate prices downwards such that whatever the outcome he will make a profit. By taking the bookie out of the equation you can generally get odds on Betfair 20% higher, which means more profit.
Lay and back. In the past, you could only win your wager if your horse won its race. Betfair also allows you to act as bookmaker and lay a bet that a horse will NOT win the race. You can collect if your selection does not win.
Trade for guaranteed profits: You can trade the movements in horse prices on betting exchanges to make guaranteed profits, much like you would with the financial markets. Profit whatever the outcome of a race? Impossible you might think&. Let me give you an example.
Imagine a horse that is priced at 3/1 in an event. You think the price of this horse will shorten because it is well fancied. With a PS100 wager, you back this horse to win.
The price of the horse falls to 2/1 just before the race starts as lots of punters also back the horse. The horse can then be laid for PS134.
Let's now see how you can make a profit. Your horse will either win or lose the race.
You will win PS300 @ 3/1. You will need to make a lay bet. This will result in you paying out PS268 (PS134@ 2/1). Your profit equals PS300 less PS268 = PS32
If your horse loses, you will win your lay bet and collect PS134. You will lose your PS100 win stake and you will be left with PS34 profits.
And so, by laying a horse at a low price, having already backed it at a higher price, you can ensure you will walk away with a profit, before the stalls have even opened!
You can also reverse this process. In other words, you can place a wager on a horse to lose and then, when it falls, you can back it to secure the profit.
Name your price. Before the advent of betting exchanges you had to place a wager on a horse at the price that was offered by the bookmaker. If the odds offered on a horse were 2/1 and you said you wanted 3/1 you would be laughed out of the shop. Not so with Betfair. Betfair allows you to place a bet on the horse at 3/1. If someone else is interested, your bet will match.
Bet in running: Betfair lets you continue betting on an event even after it's finished. This new option offers a completely different betting experience. However, it is not for the faint-hearted. As you might expect, the betting market for a horse race can change dramatically and extremely quickly, as horses jostle for position in a 5 furlong sprint which is over in less than a minute! It is exciting and risky to compare your opinions with other punters during a race. It is an experience the traditional bookmaker cannot match.
Never have your account closed: we have all seen the photocopied letters from bookmakers giving notice of closed accounts. The truth is, when you consistently make a profit from betting, then your business becomes a liability for a bookmaker. If he takes more money from your business than he gives back, he will only be happy to accept your bets. If it is the opposite, which all punters want, the bookmaker will always pull the rug from under you. By contrast, Betfair will never close your account. They will charge you a commission on your winnings. In other words, as long as they make money, they will also make money.
Unlimitted stakes: There have been many times that I received information about horses and went to my local bookmaker to place a wager. The assistant who was serving me at the time would scamper into the office and ask the manager if I wanted to place a bet on the nag at 12/1. She then said that I could only have PS20 at 12/1, but that the starting price (which is controlled by the bookmakers) would be allowed. These transactions do not occur on exchanges. If you post a request to back your horse for PS500 at 12/1 and someone else is willing to lay the bet at that price (or it could be a number of people whose total stake matches yours) then you will strike your bet.
Your entire betting bank is in one location: Most people have opened accounts with multiple bookmakers at one time or another. This allows us to take advantage of the lowest price for a horse. However, by spreading our betting bank across a number of accounts, we are diluting our money  we may want to back a horse for PS100 but find we only have PS50 placed with the bookmaker offering the best price. Sure, we can move funds between accounts, but it all amounts to an inconvenience. All your funds can be deposited to one betting exchange, so you have the ability to place all your bets and your money can work for you.
Wide range of sports: betting on the exchanges is not restricted to horse racing. You can also bet on many other markets, as well as a wide range of sports just like you can with bookmakers. Betfair allows you to place wagers on sports like Australian Rules football and pelota (?). and ice hockey. You can also place bets on politics and the financial markets.
You can place your bets 24 hour a day. How many times have you read the Sporting Life at 8:00 am at the breakfast table and learned about the Pricewise bet for the day? Because their shop is closed until 10 o'clock, you can't bet at your local bookmakers. You think, "hey, Ill bet online!" But they haven't priced the race yet. Betfair allows you to place bets whenever you like. You can take advantage of early prices before everyone else starts betting on the same horse and the price collapses. Post all your bets before going to work. You can take the available odds or name your price.
Here's my website: https://lajupokerq.org/roulette-game-techniques-6-minute-walk-through-part-1/