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Twice today he has said betfair prices are better because of place betting. 
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He is clueless when it comes to exchange betting but pretends he knows it all.
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Pretty simple really. People offering the odds have no percentage so whatever the market exchange will be better...unless horse is going to win like last race
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and he is the ITV betting expert? I heard he used to play the machines when SIS was at Old Street. Shows his punting mindset.
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Is what Matt said wrong though? Oversimplified, perhaps, because there are other factors involved, but phrased the other way round -- bookies' prices are worse because of e/w betting -- it does not sound too unreasonable.
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Absolutely correct, Sparrow. It's the pontificating pretence that really irks. It is totally the other way round, Chumpman: it is in win betting prices that exchanges outscore the bookies to the extent of 98% plus (even if the bookie offering the better price lets you get a bet on or before the odds disappear). In the case of place betting it depends totally on the field size and place fraction on offer. I regularly accept slightly worse win odds with a bookie to get the much better place odds than those available on the exchange.
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He puts it in a way as to defend bookmakers. The each way bet is an old fashioned bet well past it's sell by date and is illustrated perfectly by the poor SP's in certain races due to the place part of the bet. A rigid level stakes bet does not favour the average punter.
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