Best Odds Guaranteed is one of the most powerful tools available to horse racing punters, and it is routinely undervalued. Using the exchange as a benchmark \u2014 even if you ultimately bet with a bookmaker \u2014 is one of the most effective habits a punter can develop. The practical approach for most punters is to use both. If you back at 6.0 (5\/1) and pay 5 per cent commission on your winnings, your effective odds are 5.75 (approximately 19\/4). On a Monday afternoon novice hurdle at a minor track, liquidity is thin.<\/p>\n
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Over time, backing at exchange odds rather than bookmaker odds produces a measurably higher return on investment, assuming you can find liquidity on your chosen market. The exchange takes a commission on the net winnings of the winning side, typically between 2 and 5 per cent depending on the user\u2019s activity level. The overround on the Grand National ante-post market can reach as high as 180 per cent \u2014 a level that would be considered predatory in any raceday market. It varies by operator, by race type, and by the time of day.<\/p>\n
But check the cap on the maximum stake, because enhanced odds are almost always limited to small bets \u2014 one or two pounds, occasionally five. Second, the exchange price reflects pure market opinion without any built-in margin, which makes it a more accurate indicator of the horse\u2019s implied probability. First, it gives you a benchmark for whether the bookmaker prices are competitive. For any given horse, you can see the best available price highlighted, and the difference between the best and worst price is often two or three points of odds \u2014 the difference between 7\/1 and 5\/1 on the same horse in the same race. It does not require you to do anything special \u2014 just take an early price on a race where BOG is offered. Unlike free bets, which come with qualifying conditions and wagering requirements, BOG applies to every qualifying bet you place.<\/p>\n
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With the assistance of Equinedge I hit several races yesterday and netted over $1100 in profit. Although it won’t tell you how much the horse will pay, it does show the amount of profit you will get if you win and the amount you have to bet to get it. The figures indicate how much a punter would win using a stake of a $100. The money line is mostly used by the American bookies, which clearly displays an underdog, and a favorite.<\/p>\n
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Bookmakers open with a cautious book and adjust as money comes in. The first show of prices in the morning \u2014 often called the early prices \u2014 tends to carry a wider margin than the Starting Price. On the raceday market itself, there are consistent patterns. Ante-post markets on the Cheltenham Gold Cup or Champion Hurdle typically run between 140 and 160 per cent, which is lower than the National but still significantly wider than raceday. The aggregate effect across 20 runners adds up to a much wider margin than in a six-runner race. Across UK and Irish horse racing, typical bookmaker overrounds range from about 110 to 130 per cent.<\/p>\n