Betfair Odds – Sports Betting

Betfair a lot of time claim that they have the highest odds around. Is that true and how is that possible? I will explain…it’s just the basic principle.

When it comes to calculating odds the basic stuff is Payout. Simple example#1: Two way market odds 1,9 and 1,9 if there is 100Pounds on 1 and 100Pounds on 2 – the payout is 190Eur and stakes were 200Euros. This is a payout of 95%. For highest payouts are usually known Asian bookies, betting exchanges and from classical betting offices for example Pinnacle.

Two way outcome markets

Betting exchanges works in different way. You dont bet against them. In the first example it’s clear that the profit for bookies are 10Eur. But in Betfair it is different. You bet against other users and they dont need this kind of profit. They take their profit from the winning one. If the first outcome was correct they will take from the winning 90Eur for example 90Cents(this number depends on market, betfair holidays, betfair points and other stuff).

So Betfair does not limit tipsters when it comes to offering odds and therefor there is the possibility of having higher odds for different markets. Of course, the payout is never higher then 100%, otherwise you can bet all of the outcomes and you are still a winner. For example if the odds were 2,05 against 2,05, you can bet 100Pounds on both of the outcomes and no matter what the result is, you won 5 Pounds. This is also the principle of Green Books for which Betfair is awesome.

Odds on Betfair are really higher, when it comes to payout. But it forbids you from betting multiples and if you bet 100Pounds on 1,9 in Bwin you can win 90Pounds. If you bet 100Pounds on 1,9 in Betfair you can win 89Pounds. But the odd wont be 1,9, but 1,95

Good luck with your bets!