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This chart predicts the winner of the next Super Bowl. The five teams you see are the current favourites.
The percentage values are calculated from the odds, which in turn are created by individuals betting against each other. This is unlike conventional bookies, in which bettors bet against the house, at odds set by the house.
As more people bet on a particular team on Betfair, the odds are driven lower and lower. As they go down, the market is indicating that the likelihood of that team winning the Super Bowl is going up. This likelihood can be expressed as a percentage. If a team has a percentage value of, say 12%, it means the market is saying there is a 12% likelihood of that team winning.
As the people betting on the various teams change their minds about who they think is going to win, or new people come into the market betting on different teams, the odds on those teams change. Some odds go higher, some lower and the teams move up and down, rising into the top five or dropping out of it according to their odds and percentage likelihood of winning.
At Betfair, you bet against others not against a Bookmaker. Betfair matches you up anonymously with other fans who have the opposite opinion, holds the money until the result is known and pays the winner. Like eBay, Betfair takes a small commission (from the winner only) for the service that it offers.
So, want to know who the Public Money is REALLY on? Check any Betfair market to see the total amount matched. Every single Betfair betting market also shows you how much money was matched (and at what odds) for each possible outcome.
This chart predicts the winner of the next Super Bowl. The five teams you see are the current favourites.
The percentage values are calculated from the odds, which in turn are created by individuals betting against each other. This is unlike conventional bookies, in which bettors bet against the house, at odds set by the house.
As more people bet on a particular team on Betfair, the odds are driven lower and lower. As they go down, the market is indicating that the likelihood of that team winning the Super Bowl is going up. This likelihood can be expressed as a percentage. If a team has a percentage value of, say 12%, it means the market is saying there is a 12% likelihood of that team winning.
As the people betting on the various teams change their minds about who they think is going to win, or new people come into the market betting on different teams, the odds on those teams change. Some odds go higher, some lower and the teams move up and down, rising into the top five or dropping out of it according to their odds and percentage likelihood of winning.
At Betfair, you bet against others not against a Bookmaker. Betfair matches you up anonymously with other fans who have the opposite opinion, holds the money until the result is known and pays the winner. Like eBay, Betfair takes a small commission (from the winner only) for the service that it offers.
So, want to know who the Public Money is REALLY on? Check any Betfair market to see the total amount matched. Every single Betfair betting market also shows you how much money was matched (and at what odds) for each possible outcome.
