This basically means punters are betting against each other and Betfair just takes a small commission. This unique exchange style of betting offers punters two types of options - back and lay. Think of it as either being the bookmaker yourself, or betting against a bookmaker, except in this case, the bookmaker is just another regular Betfair customer like you! You are backing that an outcome will indeed happen. Even with the Betfair commission factored in. This makes betting on Betfair a really attractive option.
However Betfair gives you a second option, and that is to LAY. Your bet will be paid if he loses. Finding your market Betfair have recently redesigned their website, so it is a little tricker to navigate to your market of choice how nice of them!
The main thing to remember is that lay bets must be placed on the Exchange tab as opposed to the Bookmaker tab. The column highlighted in blue is the current price that you can back to get your bet matched straight away. To do that, we could back all the other players in the field, or more simply, we can lay Federer.
The column highlighted in pink on the market screen is the current price that we can lay that will be matched instantly. All we have to do is click on the pink 8. This is the part where new punters get confused. The amount we are risking is actually 8. That sounds crazy! Why should we ever risk so much to win so little? Well, with our new Same Game Multi, you can now place this along with a whole host of different markets as a single bet to win bigger.
To find this, just go to the Same Game Multi tab in all the top matches and create whatever bet you like. Follow the action with 3D match view. Who can take part? New customers only. What do I need to do? Bets placed on the same selection or market do not qualify for this promotion.
What can I win? The process can be repeated up to 5 times. When will I get my prize? Free bets will be awarded within 24 hours of you completing the qualifying requirement. What else do I need to know? Bets placed and settled within the first 30 days of account opening qualify. Excludes 'same market' bets placed on the Exchange.