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Betfair needs no introduction to the seasoned bettor. Rather than being a sportsbook as such it is, of course, a betting exchange.
The difference is that rather than the book taking the "house edge", as is the case with conventional sportsbooks, at the
betting exchange you are effectively betting against other players, and the book makes its money by taking a commission from
your winnings.
As a result of this Betfair and other exchanges are able to offer more generous prices, and you are able to lay bets as well as backing your selection
to win.
Many punters do all their business on the exchanges, taking advantage of
In-Play markets to "trade", i.e. to back a selection when its price is "out" and to lay the same selection when the price
comes "in", thus locking in a guaranteed profit. The skill involved is in knowing when to back and when to lay - get
it wrong and you lose, simple as that.
Betfair is the largest of the exchanges and as such most of its markets have more "liquidity", that is money available
at the quoted price. When you lay a bet, your money becomes available for somebody else to back at that price,
and vice versa.
Betfair has an impressive and growing range of In-Play markets, a customer forum, a handy tutorial and - for those whose pleasure
it is - a unique Zero Lounge Casino at which, assuming your strategy is correct, you should on balance win as much as you lose.
If you open just one account, we would firmly recommend it was Betfair. It has everything the books have and a whole lot more. To open an account and claim a tempting £10 Free Bet,
simply click here.
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