Setting the trend in the betting industry

For an experienced punter, the art of wagering on his favorite sport holds its own challenges and excitement. But ever wonder what it's like to be a bookmaker? For the punter who might want to try his hands on bookmaking, there is now a way to enhance his edge in the field of sports betting.

For instance, in a race with more than ten horses, instead of choosing or determining the winning horse, the punter should identify the one weak favorite and let it go. Going a step further by making confident and intuitive selection is now possible. With the birth of Betfair, UK's first betting exchange, a new way of betting entered the scene for the European and UK backers.

Betting exchanges are personal; since it works as a face-to-face encounter between the betting exchange and the punters. It is simply making bets and letting it hold the punters' money and allow them to place their bet against each other.

When the result of the bet comes out in the open, the betting exchanges deduct a small amount; just a percentage from the winning bet and the rest of the money will go straight into the punter's account. The punter can either withdraw his money right away or he can opt to leave it in his account.

A good tip on how to choose a favorite before placing a bet on it is to understand that favorites lose at an approximately 33% of the time. It is quite obvious and not surprising that most newbie punters have more chances of winning, since they usually place bets against the weak favorites. Talk about tough luck, but it surely works for these folks.

Betting exchanges differ from bookmakers in terms of controlling the odds. The odds offered by betting exchanges are 20% higher than what the traditional bookmakers are expected to offer. A punter has more probabilities in betting at a betting exchange if this will always be the case.

Punters can also suggest their ideal odds if in case they do not like the odds offered by the betting exchange. This is another feature of betting exchanges that one may never find with bookmakers. In suggesting the ideal odds, punters should also have the amount they are willing to stake. It is up to the betting exchange is they will accept or reject the offer.

Betting exchanges are now in the lead in the betting industry due to their high liquidity. It is setting a new trend in setting the odds that bookmakers tend to follow to keep up with the business.