Regularly come across wide differences between Bookmaker odds (not just one or two, but all of them), and a Betfair exchange price. Is it because the bookmakers are being really stingey on a price/horse or because the Betfair market has it very wrong? In other words, if the bookies say the price is 13.00 but the exchange says it is 23.00, is there value in the Betfair price?

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