It is sheer folly to place a tennis bet (or a bet on anything) with a “traditional” bookmaker. The expression “You can’t beat the bookie” is axiomatic; you just cannot beat the bookie over time. It’s because the odds are always mathematically calculated in favour of the bookmaker. Everyone knows (or should know) that the bookie’s mathematical “edge” against the punter is necessary for him to make a profit so that he can stay in business.
Computer technology has given rise to a new form of betting, known as “exchange betting” or “matched betting”. With “betting exchanges” there is no bookie to beat; in other words, there is no middle-man. Every punter bets against another punter or punters somewhere out there in the Internet ether. Any punter (or “trader”) can place a “back” bet that a player or team will win, and/or place a “lay” bet that a player or team will lose. Thus, any punter can choose to act as an ordinary bettor and/or as a bookmaker.
With exchange betting the odds are not set by a third-party or middle-man; they are set by the punters themselves, who place requests for odds at which they are prepared to place bets (if they wish to act as an ordinary bettor), or place offers of odds at which they are prepared to lay bets (if they wish to act as a bookmaker).
As the “back” bettors gradually lower their requested odds and the “lay” bettors gradually raise their offered odds, the software on the exchange betting web site matches all the back bets with all the lay bets at the instant they coincide. The accounts of the “backers” or “layers” are then credited with their winnings automatically a few seconds after the end of the event according to its result.
Obviously, the technology for providing such a “fair” betting service must be paid for somehow. This payment is taken matka in the form of a commission on the punter’s net winnings on an event (or “market”). That is, commission is charged only on any positive difference between winnings and losses on the same event.
This betting system is as close to a perfectly fair betting environment as it is possible to achieve.
There are very few betting exchanges in existence, however, perhaps because the exchange betting software is so complex and therefore costly. The giant among exchange betting web sites is Betfair, with about 90% of the market at the time of writing. Others are the Global Betting Exchange (BetDAQ), ibetX, Betsson, Matchbook and the World Bet Exchange (WBX). Betfair is by far the most popular because it was the first to offer this “perfectly fair” betting environment, and is trusted to perform accurately and instantly.
So, why does tennis betting give you that “edge” over betting on other sports? The answer, though simple, is often overlooked even by those who bet tennis regularly. And if you’re someone who’s never bet on tennis, you’d almost certainly not have realized the significance of the tennis scoring system on the betting.
Consider this fundamental difference between the tennis scoring system and that of probably any other sport you can think of.
In other sports and games the trailing player or team must make up the points gap by winning a point for every point they have already lost in order to catch up to the leader. Only then can they start to move ahead. This fact seems obvious.
In tennis, however, the trailing player or team can lose the first set 6-0 (possibly with a deficit of 24 points). That team can then win the second set by the most narrow of margins, 7-6 in a tie-break, winning the set by very few points (or even by winning fewer points than the opponents, a rare but possible occurrence!).
As soon as the trailing player or team wins the second set, the two sides suddenly have even scores, even though one player or team might have actually won many more points than the opponents.
This anomaly often has a profound psychological effect on one or both sides, which affects the way they play for the next few minutes, and therefore also the betting odds requested and offered by punters on the match. This, however, is another aspect of tennis betting which may be the subject of another article. This article deals with the mathematical aspect of tennis betting and how to win money with this knowledge.
How to win at tennis betting
Now that you’re aware of these two fundamental principles, how can you use them to your advantage when making tennis bets?
The key is not to be just a “backer” or a “layer”, simply betting on the final outcome of an event. If you do that, you will lose out over time, because there’s always a small difference between the “back” odds and the “lay” odds — there must be, otherwise there’d be no incentive for anyone to offer odds and there’d be no betting at all. Combine that with the commission you pay on your net winnings, and the “edge” is against you mathematically (although it is not as great as with conventional bookmakers).
The secret to winning at tennis betting is to be BOTH a “backer” AND a “layer”, but at different points during the event. This is another aspect of betting that distinguishes the exchange betting web site from the traditional bookie. At the betting exchange you can place a back or lay bet at any time during the event, right up until the very last second or the final point. This is known as “in-play” betting.