The definitive guide to Betting Exchanges

The definitive guide to Betting Exchanges

About the author: This is another book from Racing Post Expert Series. In the past I already previewed one book from Racing Post – The definitive guide to betting on football by Kevin Pullein. Current book has 7 contributors like Paul Kealy (specialising in boxing, golf, snooker and tennis), Bruce Millington (Sports Editor of Racing Post and regarded as one of the foremost sports betting experts in Britain), Kevin Pullein (football specialist) and others.

A brief review of the book: This book was released in 2005 once betting exchanges were introduced for the first time in betting world. 10-12 years in betting is big time frame but still it is very good introduction to betting exchanges and useful to know why traditional bookmakers were not happy bunnies once Betfair Exchange hit betting world with a bang. In this book you will find a bit of history how it all started, a bit of numbers and turnovers in first years. You can compare numbers and see what a long way they went from opening. One third of the book is dedicated to football – very interesting part about goal expectations and odds calculations. It is a must read for football punters.
Other sports like tennis, darts, snooker, american football are mentioned as well. Few articles about biggest winners (odds of 1000 is max odds you can take) and biggest losers.

Never be afraid to request any price
When great value is sitting in front of you, you must act, but that does not mean you should not also make outrageous demands on occasions. In a liquid market, it is virtually impossible to snap up a daft price, but in-running betting opens up all sorts of new opportunities.
It is a source of constant amazement what odds get matched. For instance, in the 2003/04 Championship Play Offs, Crystal Palace were backed at 970 and 1000 to be promoted when trailing 2-1 on aggregate in the semifinal against Sunderland. They scored in the 90th minute, won the tie on penalties and eventually went on to beat West Ham in Cardiff to earn a Premiership spot.
What is one man’s idea of buying money is another’s idea of an unbelievable lay. if you don’t ask you don’t get.

Personal opinion about the book: Even I knew most of the stuff mentioned in the book I really enjoyed it. Also it was interesting to have some information how they started and who stands behind Betfair Exchanges. Wish I had so much knowledge back in 2005 as I have now. It was golden age just placing bets in UK local betting shops and just laying your bets on the Exchanges. Prices at this time in shops were not automated by feeds like now and weren’t changing so quick. For the ones less familiar with betting exchanges like Betfair, Matchbook, Betdaq, Smarkets and others (even the book is about Betfair – all Betting Exchanges work the same) – this is perfect start. I know youtube is full of videos, but for me the book is still the best way to know something new.

Price: used but in good condition will cost you couple of euros. Bargain.

4/5 – for Betfair beginners. Good read explaining basics of Betfair.

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