Betfair, also known as The Exchange, is the only peer-to peer betting platform in Australia.
So rather than betting against bookies, who create the prices and close down winning customers, you’re betting against fellow punters.
Which means you can bet with or against a horse or a football team. For example, if you like a horse, put up a price to Back it. If you don’t, put up a Lay order and bet against it with another punter.