Betfair Betting Exchange
Why bet with Betfair?
At Betfair betting exchange you get the best odds as you are betting against other punters not against a traditional bookmaker. Betfair odds are consistently around 20% better - if you don't believe betfair could possibly do this , then check out the Betfair betting exchange prices...
Offer odds to others via the betfair betting exchange: If you can't pick a winning horse/team, then pick a loser. Use the betfair betting exchange to offer odds to others against an outcome.
Lively markets: Betfair offer the widest range of in-running markets. On many, Betfair betting exchange match more after kick-off / the race starts and with our live price/time reporting you have more information on which to back your judgment.
What is Betfair betting?
All bets on Betfair 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).
Simply bets are matched on the betfair betting exchange 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 on the betfair betting exchange (be it an individual, a team, horse, dog or other), you are betting that it will win. This is just like betting with conventional bookies.
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 betfair 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.
At the betfair betting exchange you never know who you are betting against, your privacy and the confidentiality of your bets is maintained by Betfair's secure site.
With Betfair betting 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.
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.
Visit: Betfair Betting Exchange