The main difference is that the user directly does not bet against the bookmaker ,the user bets against another user. The bookmaker is as an intermediary and interconnects gamblers with different ideas about the result of an event. The system bookmaker ensures that all bets do not have any problem of payment of money, because while the match is still playing, the bookmaker has the money; once the match is over the bookmaker gives the money to the winner. In this case the bookmaker gets a commission of 2% - 6.5% of the benefits of the winner.
Advantages and disadvantages
The main advantage is that in the betting exchange , the odds are settled by the gamblers themselves, so they are usually much higher than at any conventional bookmaker even taking into account the commission charged.
The main disadvantage is that they are less intuitive and have a much less extensive market.
The bet calculator is the main tool web www.StatsForBetting.com , which lets you select matches that you are interested in to generate your statistics to make your betting .
In statistics, population is a set of items which some analysis are being realized in order to get conclusions. Usually this is too big, so in that case is possible to take a sample of them. In terms of bet, we will get the matches which are similar as the game selected .
Simply, the best bookmakers are the ones which offer the biggest odds per bet, as we can read previously, the exchange bookmakers offer better odds. Here you can find a list with the best bookmakers.
In order to calculate odds from probability only we have to apply this formula 100/prob = odds. For example, if home team has a 75% win, its odds would be 1.33. 100/75 = 1.33, in the calculators tab you can find different ways of conversions.
