Betfair Exchange for Horse Racing
- The Betfair Exchange is unique
- Players choose their own odds
- Two players go against one another anonymously
- Betfair exchange winners pay a small commission
The Betfair Exchange is a powerful race wagering platform that works with TVG to offer some of the most cutting edge wagering features to players today. Learn how the unique exchange system lets players lock in their wagers, and how it can improve wagering results as well down below.
The Betfair Exchange is a Gambling Opportunity
The Betfair Exchange is a newer platform offered to gamblers in New Jersey interested in wagering on different race events around the world. The platform is well-known for offering a different set of features and a different way of wagering than most other racebooks do. It’s an exciting tool to use, and we go over why below in our Betfair Exchange explained overview.
What is the Betfair Exchange
The Betfair Exchange is a unique wagering system that gives different gamblers the chance to go against one another without realizing that that’s what they are doing. This wagering system feels like most other racebooks, but it’s set up in a unique way, making it more favorable to the players than most other systems in place today are. Below is an explanation of how the system actually works. Read through it to find out what happens when you place a wager on the system and start playing. It’s an impressive tool that players can rely on to place wagers time and time again.
How Does it Work: Betfair Exchange explained
When a gambler decides to play on the Betfair exchange they are actually playing against a specific person. The exchange works by having two gamblers exchange wagers with one another anonymously. One gambler decides the odds that they want to wager at, the other gambler does the same on the opposing side and when their odds are matched up the wager is placed. This exchange process is a powerful one and its unique format is the reason that so many people want to make use of the Betfair Exchange.
With most other wagering systems the sportsbook or racebook itself comes up with the different odds that players have to work with. It’s very rare to have a platform that lets players determine their odds themselves. Betfair Exchange results are always determined by players to an extent because the gamblers have complete control over the different options that they select before wagering. With most other racebook betting systems the money that’s put into a particular wager changes its odds all the way up until a race begins. That means that your position odds can be altered after placing a wager and bets can become much less favorable or more favorable over time. This makes placing a wager feel more like a gamble at a traditional racebook. While on the exchange odds are locked in, giving players more of a sense of security.
Is the Exchange Just for Horse Racing?
Yes and no. While the exchange system is designed for horse racing, it is used with a few dog races as well. Either way, the system is a racebook designed for race enthusiasts looking for more control over the wagers that they place. From the moment that a player begins placing wagers on the exchange they have more control and are able to win more regulated amounts of money while placing one wager after another on the racebook.
How Do You Read the Exchange Odds?
As opposed to the standard way of displaying odds in fractional format, the exchange relies on a decimal format for increased accuracy. It might take some getting used to but gamblers will see decimal odds listed out to the second decimal point while placing wagers. These odds make it easy to calculate the total potential payout of a wager amount. The higher the decimal number is the larger the potential payout is.
Using the Odds to Determine Payout Potential
When looking to place a wager, players should understand how to take their bet amount and the decimal odds to find out just how much money could be won. The process is a very simple one that gamblers can go through in seconds. To do this you simply multiply the amount wagered by the decimal odds of the wager. In other words, if you are wagering $50 on a position and the decimal odds are 5.0, you would compute $50 x 5.0 to get $250. That’s your total return on the wager if it’s a winner. This includes your initial wager amount as well as the profits from the wager. That means you stand to profit by a total of $200 after you remove your wager amount. Take out the 12% commission that the racebook takes and you are left with a net profit of $176 in the end. Every potential wager can be quickly calculated like this, making it simple to see what the potential payout is for each possible decision. Decimal odds are a bit simpler and more accurate than fractional odds are, which is why they are used on the Exchange instead. To learn even more about odds and how the whole system works, look at our complete Betfair Exchange review.
How Does the Exchange offer Locked Odds?
One of the biggest perks of the Betfair exchange is that it can offer gamblers locked odds when they wager online. This means that gamblers can decide on the odds that they want for a particular wager, and can wait until they get those odds. That means you no longer have to place a bet on a horse race and then wonder what the odds will be when the race finally begins. This is a big improvement over standard races online and the exchange is a sought-after tool for horse betting for that reason.
Are the Betfair Exchange Games Fixed?
Yes, each wager placed is fixed in a way because the exchange always collects a commission from the winner. Winners are required to payout 12% of their net winnings after a win with the racebook. That means that if a player comes out ahead with a $200 net win they will pay $24.00 in fees to the racebook. In this way the exchange always makes money off of every single pair of wagers that are put in place. The Exchange doesn’t have any control over the wager amounts, the odds places or anything like that though. In all those ways the system doesn’t feel fixed at all and gamblers have a lot of freedom with the options that they select. Players that are looking for a platform with more options will enjoy all the features that they have access to at the Betfair Exchange.
Becoming a Member and Using the Betfair Exchange
Anyone interested in making use of this powerful exchange platform can do so if they live in states that support wagering online. The signup process is quick and easy, and it only takes a few moments to sign in and start playing after becoming a member. Below is a quick overview of each of the processes and how to get started today.
Joining the Exchange
To become a member of the exchange follow these simple steps.
- Visit the Betfair racebook exchange website
- Go to the top right corner and select “Sign Up”
- Enter in your information into the form on the following page
- Click on “Complete Registration” to submit the information.
- Select a deposit method, choose an amount to deposit and go through the initial deposit.
- You’re now finished with the registration process and can sign in to play.
Once you’ve gone through all the steps up above, you are ready to go through the login process and actually start using the features of the racebook.
Betfair Exchange Login
Signing in and playing is quick and easy and takes just a few moments.
- Visit the exchange website.
- Select “Login” in the upper right corner of the screen
- Enter in your user name or account number and your password
- Press the “Log In” button to finalize your input and sign in.
Once you log in you are ready to start playing as long as you’re located in supported states. The exchange will look at your computer or smartphone at this point and verify that you are eligible to play. Make sure your web browser is setup properly in order for the Geo Comply service to determine what your physical location is. Once that’s done you can start playing with confidence.
The Betfair Exchange is a powerful service that helps give gamblers access to better odds and give them more control over the outcome of each wager that they place. While the exchange can’t guarantee a win or a loss, it lets players choose their own odds and lock in those odds while placing a wager. That’s a pretty good deal for serious racebook gamblers.
Join the Racebook Exchange Today
The Betfair Exchange is a unique system that gives racebook enthusiasts more control over their wagers than ever before. Leverage this platform in order to improve the quality of your wagers and your wager outcomes. We compare it fully with other racebook options in our comparison chart, but it’s really something you should witness for yourself. Sign up today and get up to a $200 deposit match from the racebook when you sign up.