betconnect co-founder, Daniel Schrieber, explains why betconnect should be your first choice for horse racing exchange betting
I’ve used betting exchanges for about 20 years now and something that’s become more noticeable, particularly in the last five years, is the lack of horse racing liquidity until at least 20 minutes before the race starts. Ignoring Cheltenham and Ascot, typical race day liquidity up until 20 minutes before the Off makes it almost impossible to place a bet unless you’re sat there dripping in tenner after tenner. I don’t have the time to do this, let alone manage it across multiple race meetings, and I doubt you do either. Take the example below, (at the time of writing) this race is a little over an hour before the start. Liquidity is almost non-existent.
The Early Price
Before exchanges, the bookmaker early price was the market guide before it opened on track. A strong market was a great guide to the gambles that would likely take place that day.
The early betting market has since done a complete U-turn and it’s now the exchanges dictating the price bookmakers offer their clients. Bookmakers rely heavily on the exchange price when offering racing prices. As soon as a bookmaker’s price is higher than the exchange Lay price, bookmakers will usually change their prices. This creates a catch-22 situation with little liquidity available. Exchange users can easily influence the odds bookmakers display when there is very little liquidity available on the exchanges.
Betconnect Simplifies the Exchange
The overnight market is notoriously weak and backing a horse the night before is always the fastest route to get a betting account restricted. I’ve always thought the morning/midday market on race day should be as strong as it was in the early 2000’s, but sadly that’s no longer the case.
That’s where betconnect comes in. I co-founded betconnect in 2018. It allows gamblers who are restricted from bookmakers to bet on these early morning prices because their bets are being laid on their behalf by regular everyday punters. It’s a unique type of betting exchange which will help strengthen the racing markets prior to the race start time.
As an exchange layer, I’m happy to lay bets when I feel the price represents value. Betconnect allows the exchange user to lay these bets at the same price as the bookmaker (not the inflated price that would be offered if it were on Betfair or Smarkets). Furthermore, betconnect will even show you where the best prices are available, so you can see if you really are laying at the current market price offered by other bookmakers. It’s like having your own odds comparison screen built in to the platform. As you can see in the screen shot below, the requested stake is the amount you are laying, with the odds being shown above. The next column shows the latest market prices so you can instantly see which bookmakers are offering the best prices.
The real gem that I hope will attract all the exchange layers is that profits are always commission-free. This is a huge incentive for those who pay a premium charge to Betfair or who are paying at least 2.5% commission on any winning bets they have on the exchanges. When every percent of value counts, not having to pay a bean of commission, so the profit is all yours becomes an extremely attractive proposition. If you’re a high stakes layer or even a recreational exchange user having some fun at the weekends, the commission you are paying out soon adds up. Commission free laying on betconnect will certainly appeal to all exchange players.
Key Terms Explained
Early Prices – Odds provided by your online bookmaker to allow you to take a price on a horse in the morning of a race.
Betting Exchange – A platform through which gamblers can bet directly against each other, rather than a bookmaker. Betting exchanges allow Lay bets to be made, as well as win and place bets, meaning that gamblers can bet on selections to lose.
Bookmaker – The organisation that provides odds on the outcome of events in order to accept bets based on predictions by customers.