Become your own bookie with us
The great thing about the Betfair Exchange is that you connect with a real worldwide betting community. The markets are moving based strictly on what punters are thinking at the time (and reacting to events pre-play and in-play that could impact a result).
This is not happening with a traditional bookmaker. You are stuck with the fixed odds that they set. If you don’t like the odds you see, you can shop around in search of better. But remember: their odds all have a built-in margin. They want to win – and you to lose.
Not over here.
Because you’re the boss
Don’t like the odds you see on the exchange? Ask for better! Simply make a back or lay selection, then change the odds in the betting slip. Decide on your outlay and place your bet. Now the world can see your offer, it’s time to see if it gets matched.
This is no guarantee: if a favourite is $2.00 to back and you have set your odds at $2.50, your bet may go unmatched (or partially matched – where a layer agrees to only a smaller portion of your stake). This could be because the $2.00 has firmed into $1.95 or shorter.
If your set odds are staying unmatched, you have two options:
- Go into your unmatched bet slips and change the odds again. Wind them in (back) or push them out (lay) to increase your chances of a matched bet.
- Or take the Betfair Starting Price at jump time, so if your bet remains unmatched, it will automatically match to the BSP odds at jump time instead.
** Note: Betfair Starting Price is available on all Australian thoroughbred and greyhound win and place markets plus all New Zealand thoroughbred and greyhound win markets. Available on all Australian harness win and place markets (except NSW and meetings televised on Sky Racing 2, where there are BSP win markets only). Available on a select range of International thoroughbred win markets.
Discover what the odds can do for you
Setting your own odds is a gateway to finding the best odds possible across all betting sites. And we have the evidence to prove it. But it also allows you to make tactical betting moves, where you could snap up incredible value whilst betting in-play.
We will dive deep into in-play betting in another chapter. But for now, here’s a quick ‘set your own odds’ snapshot …
Say you know that a race favourite (with back odds of $3.00) is sometimes slow to jump. And he’s drawn poorly today. You might think that his chances of winning will drop after the race starts. Therefore, his odds would get bigger when betting in-play.
Here’s your chance to set your own odds in-play at a much bigger price than pre-play. The favourite could still win. If he does, you could be staring at a much bigger return than what was available to pre-play punters.
And all of it is possible – only – at Betfair.