If you’re a newcomer to the betting world, local terminology may sound like Latin to you. But with the right bookie, you will master it easily. BetFair is one of the most advanced betting sites that looks and sounds simple and clear to average players. We suggest you read a brief overview before you check out the information at https://askbettors.com/bookmakers/betfair/.
1. Introduction of BetFair Exchange
Betfair Exchange has some qualitative differences from traditional bookies. Instead of the bookie setting the odds, members of the Exchange have an opportunity to bet against each other. When you “back” or “lay” a result, it’s matched against someone who has the opposite prediction. In other words, it’s punter to punter. When you register at BetFair Exchange, you automatically take some of the bookie’s functions on your shoulders.
2. How Does BetFair Work?
When placing a bet on the BetFair Exchange, you can either Back or Lay your selection. In backing, you’re betting on your selection to win. In laying, you’re betting against the selection winning. Whatever way to go, it is up to you.
Matching
To place the very first bet, you should have someone on the opposite side. The so-called matching is locking a bet in the current state. So, it can’t be increased or decreased upon a request. The same thing goes for the back and lay side match.
Market depth
Each bet needs a backer and a layer for matching purposes. On both sides of the equation, you can determine the preferred odds. If you’re far away from the rest of the market, however, you can hardly expect an expected matching result.
To tell you the secret, the best odds placed are always at the beginning of the queue. And they are usually the first ones to be matched. The market then works its way through the unmatched odds, trying to match all the available funds, at the same odds, on both sides.
Commission
BetFair services are offered with a commission, which ranges from 2 to 5 percent. Although it seems unimportant, it actually matters a lot. Your expenses may grow drastically if you decide to play “big.” The more you invest, the bigger commission you are about to pay. After all, a serious game always brings serious risks.
3. The Benefits of Betfair
BetFair is an absolutely revolutionary product, which has turned into the center of the online gambling revolution. Compared to the traditional approach bookies, BetFair has a bunch of benefits to focus on. These include:
- Better odds: All punters are looking for value. Generally, Betfair provides users with incredibly favorable odds. Due to immense pressure on a “layer,” the bookie has to offer a fair price in order to get its own bet matched.
- High transparency: The transparency of internal operations is a crucial aspect of betting. BetFair seems to know what it means. It does its best to keep its service simple and clear for bettors. Even beginners will be able to understand the corporate policies and proceed with betting activities. At the same time, it doesn’t charge bettors extra for convenience. Betfair charges a small commission percentage on each bet matched, which has to be paid by the winning bettor upon the event ending.
- A fairer experience: Before the introduction of BetFair to the gambling audience, bettors could only partake in back betting. Now, they can effectively calculate the potential profit margin added to the market. Considering the competition of other bookies, it becomes incredibly easy to estimate the market values. Eventually, bettors could see the most attractive odds and use them for their own good.
The development of Betfair has effectively allowed bettors to become bookmakers themselves. They have to conduct market research, analyze the market situation, and come up with betting ideas. In addition, bettors have the option to offer and request odds from others. Considering a high level of competition, profit margins are to be kept to a minimum rate. Rewarding bettors with the best knowledge and ensuring the available prices happen to be a great kind of experience. If you do everything right, you may face even more benefits appearing on your way.
4. Why Open an Account on Betfair?
Since 2000, Betfair has gained a reputation as a reliable and efficient betting site. With a simple, clear, and fair betting offer, it looks trustworthy to average bettors. Over the last decade, Betfair has grown into a betting hub that offers a wide range of options. Despite this massive growth, Betfair hasn’t forgotten its origins, and its online sports betting exchange is getting bigger and bigger.
When you visit the Betfair website for the first time, you can do nothing but notice thousands of daily markets covered there. You will find there any event you can think of, including sports competitions, live tournaments, and so on. Moreover, the BetFair website is designed by bettors and for bettors. This means that they are always getting the best betting conditions possible.
5. Is Betfair the Most Proficient Betting Resource?
For those bettors who are interested in matched betting, it’s hardly recommended to use Betfair. They can be absolute beginners or high-rollers to enjoy the benefits granted by this bookie. Being the most user-friendly betting site, it covers stable markets with immense liquidity, offers the most attractive odds, and charges low commissions. This is incredibly beneficial, especially when you start placing larger lay bets. The funds you save on commission can easily offset the cost of the Betfair extra services. In the rare cases that betting services aren’t available, you will have the option to log into another site to lay your bets if needed.
To sum up, BetFair Exchange is a professional betting resource that allows you to keep the betting process under control. By having a bunch of options at your fingertips, you can manage your betting activities in the way you want. BetFair offers you multiple betting options without compromising your safety. So, BetFair Exchange is definitely worthy of your attention.
