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Sportsbooks |
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Betting Exchanges |
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Betfair betting guide |
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Betfair.com
A Betting Exchange, there is no bookmaker on Betfair, just people exchanging bets.
What is Betfair?
Betfair is a betting exchange not a traditional bookmaker. Betfair acts as a broker and provides the technology to match bets placed by individuals. All bets on Betfair have been placed there by users who want to have a bet in the normal way (back), or "be the bookmaker" & offer odds to other punters (lay).
Bets are matched between people with opposing views.
Key Betfair features:
You can back or lay a bet. You can choose the odds you want to play at You only pay commission on winnings.
Back or lay
When you "back" a team, you are betting that the team will win.
When you "lay" a team, you are acting as bookmaker and offering odds against them winning. If that team lose, then you pick up the backers stake, just as a bookmaker would. If they win, then you pay out.
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 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 the odds you want, 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 an event starts and you will see them change as visitors back and lay their bets. The odds often improve nearer to the kick 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. i.e. if you have multiple bets on a single market such as the win market on a horse race, some may win, some may lose, however you only pay commission on your NET winnings (not your stake). If you lose, you do not pay commission. This is particularly beneficial if you are 'playing the bookmaker' (laying bets), where you are often staking large amounts to win much smaller amounts.
We offer a customer incentive scheme. Your commission rate is set according to how much you use Betfair. The starting rate is 5% and the lowest is just 2%, which is calculated each week according to how many "Betfair Commission Points" you have accumulated.
Fees for transferring funds to and from Betfair
To reflect Betfair's own charges, there is a 2% fee for all credit card deposits. There is NO fee for UK debit card deposits or withdrawals to any card. Deposits and withdrawals can also be made by cheque and bank transfer - there is a small fee for bank transfer withdrawals only. These fees are made by our bank and are not retained by Betfair.
What types of betting does Betfair offer?
Betfair currently offers 3 types of betting:
Odds bets
Range bets
Line bets
See the help file for more information on any of these types of bets.
Who is behind Betfair?
Betfair is the trading name of The Sporting Exchange Ltd.
The Sporting Exchange Limited is registered as a limited liability company in England and Wales, company number 3770548. The registered office of The Sporting Exchange Limited is at:
14-16 Peterborough Road,
London.
SW6 3BN.
The Sporting Exchange Limited was founded in August 1999 by Andrew Black and Edward Wray in order to commercialise proprietary betting technology that had been under development for the preceding year.
The technology used by The Sporting Exchange Limited is proprietary and, as well as being protected by copyright, is the subject of a patent application that has been filed with the United Kingdom Patent Office.
The Sporting Exchange Limited is located in the United Kingdom and operates within the confines of the Betting, Gaming and Lotteries Act 1963. It holds a bookmaker's permit in England and Wales.
For any enquiries concerning the company please go to the.
Is betting with Betfair safe?
Your full card details are encrypted and sent over the internet only once - when you register your card. Your card details remain encrypted and are stored on Betfair's secure server. Betfair uses DataCash and The Royal Bank of Scotland plc as our secure payment partners. Betfair possesses a BT TrustWise Secure Server Certificate, has a bookmaker's permit and is registered as a limited liability company in England and Wales. For further information on the Betfair deposit process, email info@Betfair.com or call our UK help desk on 0870 0110 444 |
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