Betfair Exchange: Who Are We?

Never heard of the Betfair Exchange? Or just stumbling across us for the first time? Well here’s all you need to know.


About Us

Betfair is the world’s largest, and Australia’s only, peer-to-peer wagering platform.

But what does that mean?

Unlike traditional corporate bookmakers, when you bet on Betfair, you aren’t betting against the house who have the percentage in their favour. Instead, you’re wagering against another Betfair customer and we simply act as an intermediary between the two.

This means that you’re betting into a pure market where the odds are set by YOU, the punter. But what’s in it for us? We make a small commission on winning bets for facilitating the transaction between both parties. We’re like Uber or Airbnb.


Why Are We Unique?

But what about events with more than two outcomes? How is the other side of my bet matched?

The answer: Lay Betting.

This concept is completely unique to the Betfair Exchange and is the only way you can bet on an outcome NOT to happen.

Want an example? If you lay:

  • Alligator Blood to win a race. You are betting on every other horse in the race.
  • Collingwood to win the Premiership. You are betting on every other team to win the Premiership.
  • Manchester United to beat Liverpool. You are betting on Liverpool OR The Draw.

Simply put, you are offering a price that other Betfair users can place a Back Bet against you.

Whilst this concept may sound daunting at first, it opens up a host of new possibilities for punters to approach an event or find a new their edge.

Still confused? Or want a live example? Check out the video below:


Bonus

Unlike corporate bookmakers, we don’t pay for expensive TV ads and post our name across billboards all over the city.

That means you get better odds and more money ends up in your pocket, not with the house.

We also don’t ban winning customers. We encourage it because we take a commission on winning bets.

Because of this, we’ve built The Betfair Hub, the world’s biggest resource for betting education. You’ll find educational articles, betting tips for racing and sport, how-to guides for modeling and automation and interviews with pro punters and Betfair Traders.


Ready for a wagering experience like no other?