Betfair was launched in 2000 and pioneered the first successful Betting Exchange. It operates worldwide, and has become a huge and hugely successful operation.
Well, Betfair have simply become the ‘Google’ of betting exchanges – there are other search engines, but nearly everyone uses Google….there are other betting exchanges, but most people use Betfair. In fact, how many of you can name another betting exchange?
As well as operating as a betting exchange it does also offer a fixed odds betting service which works the same as placing a bet online with a bookmaker (you don’t lay bets in the fixed odds area).
The main advantage is the exchange service allows you to place and lay bets while the sporting event is taking place. This is called ‘In-Play’ betting (or ‘in-running’). You can use in-play odds to hedge your bets or use a lay bet to guarantee a profitable position.
My first experience of Betfair was having failed to get as much money as I would have hoped on Jonny Wilkinson (@8/1) to be SPOTY in 2003 with the High Street Bookmakers, I turned to Betfair and some punters in the market were offering 50/1, only to small money but it was a guaranteed bet of £20 to win £1,000.
In summary, Betfair gives you more chances to guarantee yourself a profit on your betting, or to stop the losses from being significant if you chose the wrong golfer or tennis player. It’s changed how I approach my betting, and is proving to be a lot more fun than how I used to operate.
I recommend that you open a Betfair account ASAP.
To Open a Betfair account Click Here