1. When placing your bet online, you would be well advised to follow the lead of other sports fans and choose a betting exchange for their favourable odds to obtain the best return on your bets.
2. On a betting exchange you can ‘back’ a bet or ‘lay’ a bet. When you "back" something, you are betting on it to win. So, if you put £10 on at 4.0 that Tottenham will beat Manchester United, you would receive £40 (£10 x 4) including your stake.
3. When you "lay" something, you are betting on it to lose. You are becoming the bookmaker! So, if you bet on Rafael Nadal to lose to Roger Federer, you could lay £100 at 2.0. If Nadal does lose, you would win £100. However, if he wins you would have to pay out £200.
4. If you don't see any value in a market, you can ask someone to take odds that you think are of better value. So if Rafael Nadal is 3.0 to win the Australian Open, you can ask someone if they are willing to match odds of 4.0. This gives you the chance to dictate the market
5. Find a betting exchange with the lowest commission structure. Commission on Bettor.com starts at 1.5% which is one of the lowest out there. On some sites it starts at 5%! Don't let all your clever work go to waste by using a betting exchange that charges high commission.
6. If you enjoy social networking, then you should try social betting! Bettor.com have integrated the social betting aspect on their site so that you can exchange views and tips with others on anything you fancy.
7. Unlike bookies, it is possible to guarantee a profit when using a betting exchange. If you have already bet on an outcome, and then the odds change mid race you can be in a situation where you are win win. i.e. betting on two scenarios, with both outcomes leaving you in profit.
8. In play betting - You can bet during the course of a race/match as the odds fluctuate in front of your eyes. Look out for sports stars who crack under the pressure and lay them late on!
9. On a betting exchange the odds are calculated in decimals and not in fractions. So, if a horse is 1/5 at a bookmaker (0.2 in decimals) it will be 1.2 on a betting exchange. If a horse was an outsider at 101.0 on a betting exchange, it would be a 100-1 in fractions at a bookmaker. You always need to take away 1 from the decimal to get the fractions odds and you need to add one when converting from fractions to decimals.
10. Don't use your account after you have been on a night out! Just like drunk dialing is never a good idea, betting after a beer or three is not advisable!
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