Sunday, May 22, 2016

Betting For and Betting Against

Exchange wagering allows you to either Bet For or Bet Against a horse.  The image below is from the example used in the recent DRF/Betfair webinar.



This shows the available bets for the 6th race at Woodbine on Friday, May 13th.  One thing that confused me about this at first was that I thought this was showing orders that someone else had place, and I couldn't figure out why all the 'Bet For' offers were at lower odds than all the 'Bet Against' offers.  The right way to think of it is that these are the bets that YOU can make.  That means that someone else has placed an order to make the opposite bet.  For example, someone is willing to place a $5 bet FOR Wilma at 50-1 and you can place a $5 bet AGAINST her at 50-1.

No comments:

Post a Comment