Basically Mad it will give new users better returns as most markets are bet to around 105% or less whereas the tote operators bet to 117% (win betting) plus - the plus being the rounding down of dividends.

However, there is a commission to be paid to Betfair of up to 5% on actual winnings per event. But even allowing for that on most occasions the punter is far better off.

To have a read of what Betfair offers, go to: http://www.betfair.com/