Bookmakers' review One: Betfair Exchange
Blog Entry #4
Betfair Exchange does not require introduction to any gambling person. It is a world renowned brand and is owned by Paddy Power. It was founded by two Londoners who sold it to Paddy Power in the early parts of this decade. It was arguably the first betting exchange in the world - a betting exchange is a platform where punters bet against each other and not the bookmaker.
Due to being the first betting exchange, it had the founders advantage on the concept and idea. Additionally, being an exchange it has very high limits on betting amounts for the match. This is partly because many high-rollers bet on this platform and bring high liquidity to the table. The high liquidity on a match is transparent and visible to the public. This is a huge advantage in assessing the market sentiment for the match which is a valuable information in predicting the outcome of a match. Additionally, you won’t be banned from the site if you win a lot.
Match prediction: Real Madrid to win against Atletico Madrid - Draw No Bet. Odds 2.2
Another benefit is the high odds in the exchange and arguably the best odds in the market. These high odds come at a cost of paying commission to the exchange from your winning. This is usually between 5-7% and can be lowered depending on the amount you bet. The net profits from the odds in the exchange are higher than the odds on other bookmakers with sportsbook.
Personally, the major advantage lies in the fact that there is no minimum withdrawal amount to a credit card and its free. This is an advantage for a smart punter - the guy who likes to withdraw his initial deposit and move forward. However, beware that if you withdraw using a bank transfer, you must pay 5 euros as commission. This is a big disadvantage for withdrawing.
The customer service is instantaneous through various forms of contact - online chat, twitter, and other social media. Betfair provides automatic tools for checking your gambling addictions such as deposit limits, cool-down, etc.. Using these tools enables to calm down and adhere to a winning strategy in the long-term.
It is my favourite bookmaker in all regards except streaming. It is surprising that although many other bookmakers provide streaming of almost all matches, Betfair is severely limited in that regards. They should setup a strategy to advocate and promote matches for streaming.
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