16th November 2009, 09:16 PM
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Member
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Join Date: Jan 1970
Posts: 4,437
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Yes, you lose 5% commission, plus if you're unlucky enough to win big, you pay a premium charge on top which makes it near impossible to win.
Long thought by many betfair forumites that the only winner on Betfair is Betfair itself.
However, if you think beyond the square it is possible to make very good money.
A very good example is the first race at Leicester tonight in the U.K.
The bookies opened Spring Jim at $2.37
Early money came for it and the bookies moved into $2.25
I snapped the $2.50 on Betfair before the crowed pushed the Betfair price which is now just over $2.10
Now if one were to get better than bookies odds on every firmer (quite possible), then one can still pay the 5% and make much better profits.
Just one of the many avenues that make Betfair probably the best choice, if it is used to full potential.
Spring Jim may not win, it may even drift out again, but the job is done for me.
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