Never heard of the Betfair Exchange? Or wondering why you’ll often find the best odds on Betfair? 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.
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.
Because of this, you’ll almost always find the best odds on the Betfair Exchange.
Examples From The 2020 Spring Carnival
To help bring to life, let’s compare Betfair’s fixed-odds** to a pair of corporate bookmakers.
Assuming we are placing a $100 bet on the winner on each Group race, here’s how much better off you would be by placing the bets on the Betfair Exchange.
| Race | Winner | Betfair | Sportsbet | TAB |
|---|---|---|---|---|
| Danehill Stakes | Doubtland | 9.08 | 8.00 | 7.50 |
| How Now Stakes | Felicia | 5.51 | 5 | 4.8 |
| JRA Cup | Al Galayel | 4.10 | 3.70 | 3.60 |
| Bart Cummings | Parsan | 12.87 | 11 | 10 |
| Schillaci Stakes | Dirty Work | 4.19 | 3.80 | 3.90 |
| Caulfield Stakes | Arcadia Queen | 6.07 | 5.50 | 5.50 |
| Thousand Guineas | Odeum | 10.87 | 9.50 | 10.00 |
| Toorak Handicap | Mr Quickie | 24.5 | 19.00 | 21.00 |
| Caulfield Sprint | Graff | 10.00 | 9.00 | 9.00 |
| Moonga Stakes | Wild Planet | 6.20 | 5.50 | 5.50 |
| Caulfield Cup | Verry Elleegant | 5.90 | 5.00 | 5.50 |
| MV Gold Cup | Miami Bound | 32.02 | 26 | 21.00 |
| Profit | $11,931 | $9,900 | $9,530 |
From the example above, we can safely assume you would be:
- $2,031 better off if you were betting on Betfair instead of Sportsbet
- $2,401 better off if you were betting on Betfair instead of TAB
Remember, there are examples of our fixed odds price advantage almost every minute on the Exchange.
Winning Bets Pay More on the Exchange. Betfair, The Home Of Best Odds
*Based on Betfair Price compared to Sportsbet & TAB, 5 minutes before the time of the race jumping. Betfair commission charges have been subtracted from price comparisons.
