Embed flash video or use video player?

I am currently embedding flash videos on my site using flash player to play them - this is free.
Would I see any benefit from using a paid player such as flowplayer and jwplayer?
What is the disadvantage of me just embedding flash files for user playback vs a player?

Depends completely on the format, and what you consider to be "flash video".

An SWF (Flowplayer or JWPlayer) play FLV files. You may have a browser plugin that already plays FLV files but having a player supports those who don't.

Advantage of having a commercial license for the player like JWplayer is they allow you to watermark your brand in the player. Free version watermarks their brand name and links to their site. And for JWplayer if you get the license, you can display your own ads(pre-roll, overlay ads).