Betting and gaming is an ultra-competitive industry and from this week the Paddy Power/Betfair syndicate is bringing their own major change to the game – and this time, it is to the benefit of punters.
Both of these brands will be offering their own odds on horse and greyhound races right up until starter’s orders, rather than using show prices based upon those available on-course.
So, if you are planning on having a flutter then scanning the odds available at Paddy Power and Betfair may prove a more profitable decision than simply taking the first set of prices that you see.
The good news is that this hands some of the power back to punters – especially if other major books follow this lead. The market will then become far more competitive as far as odds-making is concerned, and that will enable punters to squeeze more value out of their bets.
And there’s more good news into the bargain: you won’t miss out on a higher starting price, even if it’s better value than that provided by Paddy Power Betfair’s market making, because best odds guaranteed will still apply.
This is a fantastic addition for punters, who can now spread their net further in search of the best odds for their selections.
Why Have they Made the Changes?
The changes to the show prices that the firm offers will allow them to have total control over their race betting markets right up until the start of the race, rather than laying the odds gathered from the on-course bookies.
This will mean that they can lengthen or shorten the odds as they wish. Crucially for the punter, it will give them more choice, especially if more firms decide to follow suit.
On the move, the company’s racing direct Paddy Desmond has said:
“We will afford customers more choice by continuing to offer the official SP as a betting option whilst also continuing to use the official SP as the settlement mechanism of bets in receipt of our ‘best odds guaranteed’ concession.”
Adding: “Taking ownership of our prices for the duration of an event will allow us to give our customers a betting experience where odds offered are more reflective of the overall betting market.
“It will also allow us to manage the price journey, from first price offered to the start of a race, more effectively and significantly reducing periods of uncompetitive pricing, for example when a selection is showing 16-1 but our traders feel 25-1 is a truer reflection of its chance.”
Whether the new pricing system offers better value in the long term will remain to be seen but the choice will definitely be a welcome change.