Betfair Betting Exchange

Betfair is a new and exciting place to bet, where you’ll find the odds are on average 20% better than of a traditional bookmaker. It’s a market place where you can bet against other punters, not against a bookie, so the odds are almost always better as there is no bookmaker adding in their profit margin. Betfair is now the World’s No.1 Betting Exchange.

All bets on Betfair have been placed there by users who either want to have a bet in the normal way (back), or offer odds to other punters (lay).

Bets are matched between people with opposing views.

Why use Betfair?

  • You can bet that an outcome will happen (back) or that it won't happen (LAY).
  • You can choose the odds you want to play at
  • You can bet whilst the game is in play.

Back or lay

When you "back" a selection (be it an individual, a team, horse, dog or other), you are betting that it will win. This is just like betting with conventional bookies.

When you "lay" it, you are betting against it winning. For example, if you're betting in a market on which team is going to win the Premiership and you lay Man Utd, you offer odds to other punters who wish to back Man Utd. If Man Utd don't win, then you pick up the backer's stake. If Man Utd wins, then you pay out. This is what bookmakers traditionally do.

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 a better price, 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 a game and you will see them change as visitors back and lay their bets. The odds often improve nearer to the off, as there are more people in the market.


You do not pay tax at Betfair, and commission is only paid on your net winnings on each market. This is particularly beneficial if you have multiple bets on a single market such as the Premiership Winner market. Some of your bets may win, some may lose, however you only pay commission on your NET winnings. If your bets in a particular market amount to a net loss, you do not pay commission.

Betfair offer a customer incentive scheme. You can receive a discount off the standard Market Base Rate dependent on how much you bet. The more you bet, the larger the discount you receive. This is known as your Discount Rate.

Fees for transferring funds to and from Betfair

To reflect Betfair's own charges, there is a 1.5% 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 Betfairs bank and are not retained by Betfair.

Betfair Minimum deposit is £10



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