Betfair is one of the leading exchanges for Internet betting. What is a betting exchange? A website where punters meet to swap bets. You don’t bet against the Bookmaker on Betfair, but against other punters whose predictions differ from yours.
Betfair functions as an intermediary that gives you a whole new fresh betting experience. Here we’ll offer you a preview of Betfair’s innumerable betting opportunities. But let’s learn more about the concept behind betting exchanges first and foremost.
This is available for all customers and if you don’t have an account don’t forget to take a look at Betfair’s newest promotion offers
Winning with the highest odds
When bookmakers set the odds, they also take the danger of losing cash if the odds are too big. Bookmakers pay about 10 percent commission on all your bets to compensate for this and stay lucrative. This is called the margin of the bookmaker.
With Betfair, however, it is the punters who set the odds, so Betfair is unable to lose because the website charges 5 percent commission on the wins of the punters.
The result is not disputed: 10 percent from one hand to 5 percent from the other. Betting on Betfair provides you an average 5 percent greater opportunity of pocketing wins! And that does not include the bonus for Betfair. And lastly, since Betfair does not take any hazards, there is no limit to how much you can bet.
Betting Exchange: Step into the shoes of the bookmaker
Betfair allow’s punters to play against each other. Punters have to give bets and odds for this exchange to operate. This is the’ selling’ concept of bets, otherwise known as’ laying.’
The principle is simple: you “sell” Liverpool’s win if you think Liverpool won’t win. You give the chance to bet on a victory for Liverpool to the other punters of Betfair at the odds you set. You are therefore stepping into the shoes of the bookmaker. If Liverpool wins, you will have to pay the punters ‘ winnings that bet against you. You hold the stakes if Liverpool loses.
Trading on Betfair
The capacity to “purchase” and “sell” bets provides you with a completely fresh betting experience, which is trading on live games.
Let’s look at the stock exchange’s easy trade? At the smallest cost, the trader purchases stocks and tries to sell them at the largest cost. The concept is the same on Betfair, but in reverse. The Betfair trader purchases odds at the greatest rate and attempts to sell them to the lowest again. The profit is produced on the distinction between buying and selling odds.
Secure your Betfair winnings
How many times have you believed you’ve won a bet, only to find out that your hopes have been smashed in moment of injury. “Fortunately, thanks to Betfair, this misfortune never again has to occur! By putting a live bet that runs counter to your original bet, Betfair enables you to secure your wins.
Here’s an instance: before the game, you bet on Arsenal at 1.80 odds. The match now takes 75 minutes and Arsenal wins 1-0. You know that in the last 15 minutes of the game the London club is struggling and you can’t help but bite your nails nervously… So you decide to stop putting stress on yourself and sell your bet at 1.15 odds. What a helping hand! If Arsenal wins, you’re going to win a little less (the insurance fee you took out) but if the opposing team is equalise, you’re going to lose nothing and still be able to win!