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When it came to gambling in the UK, high street bookmakers always ruled the industry and this trend kept continuing when sports betting were moved to the internet with some big-shot companies enjoying the bulk of online business. Later on, in the year 200, Betfair betting exchange came into existence and this would in different ways change the entire gambling industry. Since then, bookmakers and Betfair were always engaged in a healthy competition and it can even be safe to say that bookmakers nowadays use some of the best features of Betfair. At the same time, Betfair has even made the move with their sportsbook and hence although there are similarities between the 2, there are few key differences as well. Read on the concerns of this article to know more on the striking differences between bookies and https://betenemy.com/en/betfair/
Pricing and costing – Bookies vs. Betfair
Generally, it is seen that you can get better prices when you use the Betfair exchange. This is due to the fact that users of the exchange can work with very few margins, implying that many of the books will be close to 100%, where the bookmaker or layer doesn’t have any profit, whatsoever. On the other hand, bookmakers have large profits calculated and this is why their books are larger than 100%. The prices on strong favorites can be similar on both Betfair and bookmakers with a little bit in Betfair’s favor. Nevertheless, prices are definitely better on exchanges.
Charges applied – Bookies vs. Betfair
When you bet with a bookmaker, you will get a price and in case the bet wins, you will grab that unexpected amount. For instance, if you bet on a horse at 9.0 for £5, you will get a return of £45. On the other hand, when you bet with a Betfair exchange, it can get a little fussier. Initially, you will be charged a commission on the amount you win. This amount will be dependent on how much you use the exchange but this will range from a starting point of 5%. Apart from the commission charge, there’s another premium charge which all successful users of the Betfair exchange may incur.
Multiple betting is an option which you get on Betfair exchange but the range of betting is restrained to few markets, the exchange offering a better service for single bets backers. Bookies usually specialize in a great number of multiple markets where you can easily place multiples through various bet types. So, when it comes to multiples, bookies have a rather edge over Betfair exchange.
Betfair vs. Bookies – An overview
It is pretty clear from this post that both bookies and Betfair have their own sets of benefits. If you want to bet on long-priced single bets, there’s no doubt about the fact that exchanges will be better options. In an ideal situation, modern day gamblers should use both, trying to obtain the best price on whichever market they can, whether through bookies or Betfair.
In 2006, Jenilee graduated with a BS in Emerging Technology and Design. In 2012 she obtained an MBA in Ecommerce. Jenilee currently works for a small manufacturing company designing websites, email marketing, digital advertising, and print advertising campaigns.
Connect with Jenilee on social media or visit her blog at http://geekysweetie.com