When betting over the internet, make sure you leave enough time for a bet to be processed. With the internet you need to take account of traffic and the time delay for processmg information from one computer to another. Although your computer may show that you placed a bet before the off time of a race due to the time it takes for the information to leave your computer, reach your internet service provider and then to reach the bookmaker’s internet service provider and then the bookmaker’s computer, your bet may be to late. The time the bet left your computer is not what counts, it is the time at which the bookmaker’s computer received your bet.
This time delay may also mean that you miss out on the odds that you want. Odds can rapidly change, especially before the off of a race and you need to be quick to place your bet at the desired odds. If you are not fast enough to place your bet, you will miss some odds.
Getting started with a betting exchange
If using a betting exchange is new to you, start out with small stakes until you get used to the concept. Don’t forget that lay bets are the opposite proposition to back bets. With back bets you lose just your stake if your horse loses but with lay bets you payout the winnings if the horse wins. Take particular care with laying bets as you can easily lose high multiples of stakes, particularly if you start laying all the horses in a race. Although you are acting like a bookmaker, you haven’t got. the bookmakers 17 per cent guaranteed profit built into the prices. Online bookmakers do go bust leaving the bettors unpaid so keep only the minimum that you need to bet in the internet account and clear out any winnings as soon as possible. If your exchange does go bust, then your losses will be minimized.
Hedging a bet is making an additional bet to guarantee a profit. Because a betting exchange allows you back and lay, you are able to take advantage of price changes and ensure you make a profit regardless of the outcome of the race. Suppose you have bet on a horse to win £100 at 20.0 and its price drops down to 8.0. If you then lay £250 at 8.0, you will make a profit of £150 (less commission) regardless of whether the horse wins or looses.
If the horse wins, your back bet, £100 at 20.0, wins, giving a return of £2000. The stake is £100 so the profit is £1900. Your lay bet £250 at 8.0 loses and you lose £1750.
Your net profit on the two bets is 1900 -1750 = £150.
If the horse loses, your lay bet £250 at 8.0 wins, giving a return of £250. Your back bet, £100 at 20.0 loses, so you lose your stake of £100. Your net profit on the two bets is £250 – £100 = £150.
You could also hedge just a portion of your bet, for example, you initially back £100 at 20.0, the price drops and you lay just £100 at 8.0. If the horse wins, your win bet £100 at 20 wins, giving a return of £2000. The stake is £100 so the profit is £1900. Your lay bet £100 at 8.0 loses and you lose £700. Your net profit on the two bets is 1900 – 700 = £1200.
If the horse loses, your win bet £100 at 20.0 loses and you lose your stake of £100. Your lay bet, £100 at 8.0, wins and you win £100. Your net profit on the two bets is zero.
In this situation, you win £1200 if the horse wins and you lose nothing if it loses.
It is possible to take advantage of time lags as it takes time for the prices from the race course to have an effect on the exchange prices. One of the best times to take advantage of price changes is while other races are running. On a Saturday, for example, there may be a race off at 3.30 and another at 3.35, while the 3.30 race is running, most people who have bet on the earlier race will be watching it, and will not be concentrating on what is happening to the prices on the 3.35 race. By comparing bookmakers’ prices to exchange prices, there may be an opportunity to anticipate price moves and to make your bets while most of the other bettors are otherwise occupied.
There are sites on the intemet that provide odds comparison services, they show you the prices across a range of bookmakers and exchanges allowing you to spot the firm offering the best price.
It is possible to bet on almost any sport on the internet via bookmakers, betting exchanges and spread betting firms. The basic principles of betting are similar to horse racing. Bookmakers offer sports betting at fixed odds. Betting exchanges allow the bettors to decide their own odds. Spread betting firms make predictions about sporting events and the customers bet on how correct those predictions are. Due to the value offered Asian handicaps and in-running betting on the exchanges are popular methods of betting on sports.
As the name suggests Asian handicaps originated in Asia. They were originally a way for friends to bet with one another on the outcome of a football match. With a football match, there are three possible outcomes – win, lose or draw. For most individuals calculating three-way odds is complex. To simplify matters each team was given odds of evens and a handicap to theoretically equalize their chance of winning. A team is given a half- one-goal or more handicap. The handicap can be a positive or a negative figure. Where a fraction of a goal is used as a handicap, a draw is eliminated. The handicap is added to the final score to give the result on which the bet is settled. If, after taking the handicap into consideration, there is a draw, the stakes are refunded.
Manchester Utd -0.5 odds = 2.1
If you bet on Liverpool to win, the handicap is added to Liverpool’s final score. If the match is a draw at 1:1, taking into account the handicap, the result is Manchester 1, Liverpool 1.5. This means a win for Liverpool. Your bet wins and is paid at odds of 1.9. A £1 bet would return £1.90.
If you bet on Manchester Utd to win and the final score was 2:2, the handicap would be added to Manchester’s score. The result would be Manchester Utd 1.5, Liverpool 2. Your bet would lose.
In some Asian handicap markets there may be two handicaps given for a team. In this case the stake is divided between the two handicaps.
Manchester Utd 0 and -0.5 odds = 2.1
Liverpool 0 and +0.5 odds = 1.9
Final score Manchester 1, Liverpool 1
£10 win Liverpool.
£5 is placed on the handicap of 0 and £5 on the handicap of +0.5.
For the handicap of zero the result is Manchester 1, Liverpool 1. This is a draw. The £5 stake is refunded.
For the handicap of +0.5, the result is Manchester 1, Liverpool 1.5. Liverpool wins.
The bet is settled at odds of 1.9. 1.9 x 5 = 6.9
Total returns = 5 + 6.9 = £11.90
In-running betting is placing a bet on an event once it has started. For example, betting on the result of a football match after the kick-off. In-running betting can often provide value bets. For example, suppose you want to bet on the underdog in a football match, If you wait until the match has kicked off you can often get a better price than before. This is because the favourite will be highly backed and to balance their books the bookmakers will lengthen the price on the other team.