Best Online Bookmaker
Questions and Answers
I am currently a student in University. I am not an avid gambler, I would keep an eye out for horses now and again and would normally have an accumulator on the football most weekends. I am currently looking for a new bookmaker. I understand betfair has both a sportsbook and an exchange. I will plan on trading on the exchange once I become common with it. Basically my question is would betfair be a useful online bookmaker for me to use as I know it has many pros such as cash out and best odds but there are also many cons such as fees. Will the pros and cons affect me much as I won't turnover crazy profits or place crazy number of bets?
Betfair is good but like others have pointed out they are increasing their commission quite a bit lately. Some countries saw an increase in 2013 up to 7.5% commission. Many countries that weren't affected at that time had commissions increased from 5% to 6.5% this past week.
On top of this Betfair is the only betting exchange that has a Premium Charge, where if you win over time on their site you can end up paying them a fee between 20-60% off your winnings.The flipside of this is that they are the biggest betting exchange around and the betting volumes on the site are huge, so they can pretty much charge what they like.
If I was you I would probably go with several bookmakers and take advantage of their free bet offers, and once those settle out stick with the site that you feel most comfortable with that gives you the best odds. Search for odds comparison services on google and you will see some good results on the first page.
For betting exchanges I'd suggest signing up with more than one as well. This way you are covered if Betfair site goes down for maintenance so you're not left exposed if you are trading during a live match, you also get more introductory free bets to use and ongoing special offers at each site, plus you can shop around and see which of the exchanges gives you the best odds after commission charges are taken into account. Also take a look at WBX, Betdaq/Ladbrokes, Smarkets these guys have lower commissions than Betfair.
There are heaps of online bookmakers around at the moment, and I want to join one that gives the best odds and account opening bonus for the Melbourne Cup. Which one is the best?
Give www.ritebet.com.au a try.
It gives comparisons for all the top bookmakers, even has a quick questionaire to match you to the right bookmaker. Sign up bonuses through the website are available too, so if you only bet once a year on the cup, you can use the account opening bonus for your bet!
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