How do Betfair work out how much better a BSP price is to the ISP?
Looking at Pamak D'airy yesterday, the BSP was 33.63 the ISP was 23 and they say this was 41% bigger. I make 41% of 23 equal 9.43 which would make the BSP 32.43.
If it is 41% of 22/1, that is 9.02, meaning the BSP should be 31.02 (32.02).
BSP percentage better than sp
Its quite simple betfair take into account 5% commision
Bookies £10 23.00 Profit £220
Betfair £10 33.63 Gross Profit £326.30 Less Commision £16.31 Net Profit £310
Difference £90 90/220 =41%
Which leads to the question why are punters still using bookies
Bookies £10 23.00 Profit £220
Betfair £10 33.63 Gross Profit £326.30 Less Commision £16.31 Net Profit £310
Difference £90 90/220 =41%
Which leads to the question why are punters still using bookies