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The fixed odds nature of betting with bookies or Betfair is also better for the player. It is much better to know where you stand before a race is run (eg you have bet $1000 and stand to collect $5000 if you are correct). No more worries about the odds dropping after the gates open
One problem with a rebated tote system is that those with the biggest rebates dictate the odds of all the other players. Now this issue does arise with Betfair too as they have a sliding commission rate of 2% to 5% so some players on 2% can still take lower odds than someone on 4% to 5%. But it is not as bad when the odds are fixed as you know what price you are getting taking into account commission. It is up to you if you want to take the price or not. With the tote you don't know your odds until after the race is run
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