Betfair is the world's largest betting exchange based in London. While a traditional bookmaker and exchange share the same goal of betting on sports and other events, there is a key difference.
In the case of a bookmaker, the bettor plays against the bookmaker on its terms. The exchange also provides a betting platform for fans of forecasts. The players themselves determine the conditions of the game, on the basis of which the quotes of events are determined.
There is no margin on the Betfair exchange, but the company takes a percentage of the winnings.Betfair registration
Navigating the Betfair Exchange
The "Exchange" section on the official website of the British company is located first from the left in the yellow "cap". By clicking on it, you can see the navigation.
The betting exchange is divided into six subsections:
- during the game;
Like all British betting companies, Betfair focuses on football betting everywhere. The game of millions is in the "Sports" block, located on the left side of the screen. In the center, banner ads suggest betting on the upcoming matches, and below them, football tops the "Sports - Main Events" section. The British love the game of millions so much that it is more important for them to announce the match of the Norwegian championship between Sarpsborg 08 and Kristiansund than about meetings at the hockey world championship.
The right part of the main screen is occupied by blocks with quick bets and a set of games, including a lot of casino entertainment.
It is noteworthy: on the Betfair betting exchange, you can bet on football, hockey, etc., which are familiar to the Russian better, and on purely British sports such as cricket, dog racing and horse racing.
There are even forecasts for events in world politics and the personal life of the British royal family. In the example below, Betfair offers bettors to bet on the name of the second child of Prince Harry and Meghan Markle.
What are the pros and cons on the Betfair exchange
Let's look at an example.
At the time of writing, the final match between Man City and Chelsea was expected in the Champions League. Under the probable outcomes of the event there are fields of blue and pink colors.
The blue color is Back ("For"). By choosing any of the fields of this color, the player agrees with the proposed result of the fight. Pink - Lay ("Against"). In order to win in this case, it is necessary that the final result be the opposite.Betfair registration
Playing on the Betfair exchange
Let's take the Champions League match as an example. Let's say the better believes that City will be the winner of the meeting. To make a forecast, you need to click on the blue box under the unit. An analogue of this bet in a traditional bookmaker is P1.
Selecting an adjacent red field below one means a bet "Chelsea won't lose".
Below the odds are the bet sizes of other bettors. On the victory of "Manchester" with a probability of 1.96 there is a bet in the amount of 5756 euros. This does not mean that the player needs to repeat or cover this bet. If the client wants to bet less or rewrite the match odds, he needs to wait for another user to make a reverse prediction.Betfair registration
Cons on the Betfair betting exchange
When a player makes a Lay bet, he has obligations to the betters who have chosen Back.
By clicking on a bet against the victory of "City", the client sees a tab with the fields of the odds and the amount of the bet. But this is not a traditional bet size. The money that the bettor risks losing in the event of an unsuccessful prediction is automatically calculated in the “Place a bet. Obligations". The example above shows that if €200 is deposited, the liability will be €194.
You can also edit the field with the coefficient of the event.
Let's say the player puts all the same 200 euros against the victory of "Manchester". If the coefficient of 1.97 seems too small, you can change it, for example, to three. Now the better's obligations are twice the size of the bet. This means that if City wins, the exchange will withdraw not €200 from the player's account, but €400.
And here is how the tab with the odds and the amount of the bet looks like if you select Back.
Liabilities are exchanged for the usual profit for the Russian user.
It is noteworthy that, unlike the winner, the company does not charge an additional commission from the losing client.
Commission on the Betfair exchange
A traditional bookmaker has a margin - a percentage that the office takes for itself from each bet made. So the company will always go into a plus at a distance, defending itself from bankruptcy.
There is no margin on the Betfair exchange, but there is a commission for winning.
It is noteworthy that the odds for top events are comparable to the quotes of bookmakers legal in Russia. The ability to inflate the odds is suitable for sports betting experts who make a profit on falling quotes. For beginners and not very gambling clients, the Betfair exchange will not bring much income.
It is allowed to bet on the stock exchange only after the creation of a gaming account. This can be done using the official website or the office application for smartphones. When registering, the better fills in the fields with personal and contact information, and also activates the game account by making an initial deposit.
For new customers, Betfair gives a welcome free bet in the form of virtual money. During the wagering process, the bonus can be converted into real money and withdrawn.Betfair registration
Problems accessing Betfair
Since May 2020, the British stock exchange has lost its license to operate in Russia. As a result, the official website Betfair.com does not work on the territory of the Russian Federation.
To bypass the lock, you need to find the current working Betfair mirror on the Web . Note that at any time Roskomnadzor can block a copy of the portal. VPN services and other tools to bypass the ban will also help.Mirror BetFair
If the Betfair mobile application does not work for the better, you need to install a VPN on the gadget.
The total client base of the British stock exchange exceeds 5 million users, which indicates the high reliability of the company.