Betfair Betting Exchange Review
Betfair The Only Betting Exchange In Australia
Betfair has the unique distinction of acting as a betting exchange in some instances, allowing punters to lay bets and essentially fulfill the role of bookmaker, matching wits with punters who want to back an outcome. Join Betfair Today
Betfair takes a small percentage for providing this service, and whilst it is not available for every event in the over 7,000 markets that Betfair offers, it does offer some opportunities that go well beyond those provided by some of the other bookmakers, who with regard to racing generally confine anything resembling lay wagering to Favourite VS Field promotions. Join Betfair Today
Lay wagering by Betfair clients offers another interesting twist by permitting punters to trade their holdings with others and make a profit from that route.
Betfair the company had its origin in the Great Britain in the year 2000. It has experienced phenomenal growth since an award bestowed on it in 2003 by the Crown did much to polish its image.
Depending on whose figures you believe, the company lays claim to beyond four million customers and an employee count of close to 2,000, so they maintain that they are the largest Internet betting exchange.
We are willing to overlook the fact that distinctions of this type are mostly irrelevant for day-to-day purposes and that the list of qualifiers is generally somewhat elaborate in the attempt to provided credibility to these types of claims.
Betfair’s Australian operation is licensed in Tasmania and is the only betting exchange to possess an Australian license.
We are going to abandon the lay betting discussion for another time at this point and focus on the racing operation of Betfair in order to compare it from that perspective to the other online bookmakers’ racing operations
Before we launch into an examination of bets types and other features, however, it deserves to be mentioned that by acting as a betting exchange, Betfair can afford to charge less commission as other bookmakers.
Betfair Racing Bet Types
As an exchange, Betfair’s bet types differ substantially from those of traditional bookmakers.
Back Bets – Very similar to placing a wager with the TAB, with the major exception that the wager is against another punter who holds the opposite opinion of the outcome as opposed to wagers becoming part of the Tote pool.
Lay Bets – This involves a punter selecting a horse to lose. Punters determine how much of the backers’ stakes they want to accept at the odds quoted for any particular event. It would be tempting to make the wry observation that based on previous experience, it is quite easy to select a galloper to lose, but lay betting is actually quite challenging at times, and many experts would advise not engaging in lay betting without a high degree of experience to rely upon for guidance.
Trading Selections – As we mentioned above, this is a unique facet to participating in a betting exchange. Since odds are in a more or less constant state of flux, trading makes it possible to profit from a race before that race has even been held. An example of this would be backing a horse at high odds, and then laying it if/when the odds go down. Currency traders, along with stock and commodity speculators, might find themselves drawn to this Betfair offering.
Of course, not every race is going to hold enough interest to offer both back and lay bets. An example of this is that it might have been difficult, perhaps impossible, to find anyone to lay Black Caviar. Certainly, threw old have been some punters of the opinion that she could not keep up her historic streak indefinitely, but those punters would have been few and probably quite cautious about any stakes they were willing to risk, but hindsight does make geniuses of us all.
Other Betfair Bet Types
Many Betfair clients will stick strictly with back bets, which opens up the market considerably. Betfair offers all the other types of bets which any worthwhile bookmaker offers, including exotics and multis. They do of course offer in-play betting, subject to the restrictions that are the current whim of the Australian government prohibiting online in-play wagering of any kind.
Melbourne Cup Free Bets - To get the best Melbourne Cup Bets, Betfair are very popular and have a Hugh Turnover when it comes to spring racing.
Other Betfair Features
Betfair does have a mobile application of its website that exists in versions for all the widely accepted mobile operating systems.
Racing Zone-A very entertaining feature of the Betfair website is an interactive tool called the Racing Zone. It is a great way for punters who are considering laying a wager to learn what the Australian Tabs are offering in the way of odds. This feature also supplies results, form guides and the ability to search for various criteria
Betfair has the features that make it a worth consideration.
Even though lay betting might not be the best introduction for the uninitiated, Betfair does offer some very entertaining, light-hearted video instruction that is intended to keep the focus on punting where it should be: having fun.