Betfair - At Betfair bet against offer punters and not the traditional bookmaker

Betfair Betting Exchange

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Betfair Betting Exchange

Why bet with Betfair betting exchange?

Best odds: At Betfair betting gives you the best odds as you are betting against other punters not against a traditional bookmaker. Odds are consistently around 20% better - if you don't believe Betfair, then check out Betfairs prices...
Safe & secure: As the world's largest online betting company with a turnover exceeding ?50m per week, your money is safe with Betfair.

Offer odds to others: If you can't pick a winning horse/team, then pick a loser. Offer odds to others against an outcome.

Lively markets: Betfair offer the widest range of in-running markets. On many, betfair betting online match more after kick-off / the race starts and with betfair live price/time reporting you have more information on which to back your judgement.

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What is Betfair?

All bets on Betfair betting exchange have been placed there by users who either want to have a bet in the normal way (back), or offer odds to other punters (lay).

Bets are matched between people with opposing views.

Differences between betting with Betfair vs. a conventional bookmaker:

  • You can back or lay a bet.
  • You can choose the odds you want to play at
  • Commission and Tax.
  • You can bet whilst the game is in play.

Back or lay

When you "back" a selection (be it an individual, a team, horse, dog or other), you are betting that it will win. This is just like betting with conventional bookmakers.

When you "lay" it, you are betting against it winning. For example, if you're betting in a market on which team is going to win the Premiership and you lay Man Utd, you offer odds to other punters who wish to back Man Utd. If Man Utd don't win, then you pick up the backer's stake. If Man Utd wins, then you pay out. This is what bookmakers traditionally do.

You never know who you are betting against, your privacy and the confidentiality of your bets is maintained by Betfair's secure site.

Choose odds

With Betfair Betting Exchange there is always a choice of what odds to accept. If you want better odds than are currently available, you can place an order for a better price, but be realistic because there has to be somebody prepared to lay the bet at those odds, and vice versa.

Take a look at the odds before a game and you will see them change as visitors back and lay their bets. The odds often improve nearer to the off, as there are more people in the market.

Commission

You do not pay tax at Betfair, and commission is only paid on your net winnings on each market. This is particularly beneficial if you have multiple bets on a single market such as the Premiership Winner market. Some of your bets may win, some may lose, however you only pay commission on your NET winnings. If your bets in a particular market amount to a net loss, you do not pay commission.

Betfair Betting Exchange offer a customer incentive scheme. Your Commission rate is set according to how much you use Betfair.

 

 


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