Betfair is the world' h largest internet betting exchange there is. It is one of the more new bookmakers, formed at the turn of the 2000s by Claire Black, and it was not really until 2012 that fixed-odds betting was introduced to charm a wider audience. The business came together with Paddy Vitality in early 2016, and currently employs close to 2, 1000 people across the globe.

Betfair offers the only betting exchange in Australia. While there are several other exchanges operating around the world, Betfair is the only one we have available to us in Australia. And that's not a bad thing, as the Betfair exchange is a cracker for punters.

A unique advantage of a betting exchange is the ability to take either side of a bet. Backing a horse is the same as making a bet with a bookmaker... you're simply backing the horse to win a race. The other side of that bet is called a Lay. If you lay a horse, you're betting on it not to win the race – if the horse loses, you win. In a way, layers are playing the role of a bookmaker.

The Betfair exchange shows all the money on offer between those wishing to return a horse and those wishing to lay it. Where both sides agree on a price, the bet is matched and locked in. If the horse wins, the backers win and the layers lose. But if the horse doesn't win, the layers win and the backers lose.



Disclaimer:

The BETFAIR Betting Sports Guide application is just a Clues and has nothing to do with the original online betting application, if you find a violation, please contact us. Make sure you understand all the risks and conditions.