Betfair Exchange Betting – Get Better Prices On Your Bets
What is a betting exchange?
A website that joins punters to exchange bets. You are not betting against the Bookmaker, but on other punters whose prediction on sports are different from yours.
Betfair functions as an intermediary that gives you a whole new experience of fresh betting. Here we will give you a preview of the countless betting possibilities offered by Betfair. But let’s first and foremost learn more about the idea behind betting exchanges.
This is available to all customers and if you don’t have an account don’t forget to take a look at the latest bonus promotion offered by Betfair.
Winning with better odds
When bookmakers set the odds, they also take the risk of losing money if the odds are too large. Bookmakers pay a commission of about 10 percent on all your bets to make up for this to remain lucrative. That’s called the bookmaker’s margin.
But with Betfair, it’s the punters that set the odds, so Betfair can’t miss out because the website charges 5 percent commission on punters winning bets.
The outcome is great for punters: 10% from one side to 5% from the other. Betting on Betfair gives you an average 5% more chance to win pockets! And that doesn’t include the Betfair bonus. And last but not least, since Betfair takes no risks, there is no limit to how much you can bet.
Step into bookmaker’s shoes
Punters must give bets and odds in order to operate this exchange. This is the’ selling’ bet concept, otherwise known as’ laying.’ The principle is simple: if you think Liverpool won’t win, you’ll “sell” Liverpool’s victory. You offer Betfair’s other punters the opportunity to bet on a win for Liverpool in the odds you set. So you’re stepping into the bookmaker’s shoes. If Liverpool wins, the punters ‘ winnings that bet against you will have to be paid. If Liverpool loses, you will keep the stakes.
Trading on Betfair
The ability to “buy” and “sell” bets gives you an entirely fresh betting experience that is trading on live games.
Look at the easy trade of the stock exchange? The trader buys stocks at the lowest price and attempts to sell them at the highest price. On Betfair, the concept is the same, but in reverse. The Betfair trader is buying tickets at the highest level and trying to sell them again to the highest. Profit is generated by differentiating between buying and selling odds.
Secure your winnings
How many times you’ve thought you’ve won a bet, just to find out your hopes were smashed in injury time? Fortunately, thanks to Betfair, this misfortune never has to happen again! By placing a live bet that runs counter to your initial bet, Betfair allows you to secure some cash.
Here’s an instance: Pre-match you bet on Man Utd at 1.80 odds. The match has now played 75 minutes and Man Utd are 1-0 ahead. You know that in the last 15 minutes of the game the team is struggling and you can’t help but get nervous they might concede a goal. So you decide to sell your bet at odds of 1.10 odds and secure winnings. If Man Utd wins, you’re going to win a smaller amount but if they go on to lose you will win as you have taken your money out the game at a profit!