We all know that betting exchanges offer excellent possibilities for their clients. Often we can find better odds in the exchanges rather than the bookmakers. The other advantage is the very fact that when we bet there we play against the other players, not against a betting house. This gives us better chances for winning. There is more good news. Recently, the biggest betting exchange Betfair has released a very interesting service for playing live that really offers great opportunities for punters.
The service is called guaranteed profit or something like that. With it the punter may at any point of the game withdraw his bet to the instantaneous rate. This way you can take profits earlier or reduce losses.
Here is an example of how this service works. Let’s say you would bet live on the match of the English Premier League between Everton and Newcastle. Your bet is made at the score of 0-0 and you bet that Newcastle will win. The odds for your prediction are 2.5. Shortly afterwards Newcastle makes a goal and take the lead. Naturally the odds for their victory fall.
From now on you at any moment can cash this profit out. It would be calculated with the difference between the betting odds at the time of your bet and the instantaneous rate multiplied by your stake. By doing this you avoid the risk that Everton will make a late goal to equalize by which you will lose all your money.
How does the service work for limiting your losses? Consider the same game for example. The difference is that after we bet for Newcastle, Everton are those who will score and make the result. Naturally, the coefficient for Everton’s victory would fall immediately and the odds for the victory of Newcastle would rise. If at this moment we don’t believe that Newcastle are able to win, we can immediately pull out the bet we have made before. By doing this we will limit the losses. To do this we will again make the same calculations. The odds for Newcastle at the time of the bet are recalculated based on the instantaneous rate and multiplied by the stake to calculate the exact loss. This option can be big savings from losing bets.
This is a really great option for all punters to manage more accurately their bets.
Betting on Betfair is a bit different than the other bookmakers. So, on the video below you will find some explanation on how to bet there