Using the Betfair betting exchange is not traditional bookmakers. It’s still gambling, and in the UK it’s still illegal, but on the face of it, has a lot better odds than using bookmakers.
You can either bet on the horse winning, or lay a bet that the horse will not win, at odds that are given when the event starts. Using the Betfair betting exchange, you can bet in play, which is another word for bet in play. i.e. “Go to the races”, or “Go to the sports”.
The betting exchange makes it easier to obtain information than a bookmaker due to the odds being higher in some cases. For example in a horse race, a lot of the bets are unexpected or very small, but the betting exchange makes it possible to bet in play and possibly obtain a better price.
In the Betfair marketplace, there are a betting exchange dealer and a small number of betfair software programs. Betfair dealers far more knowledgeable than bookies, and they can offer advice on odds as well as other services to help make you an expert. Betfair software programs are usually very competent and can be your own bets if you choose.
In order to make a profit betting on sports, you are required to have an edge over the odds, and the odds are most often in the market in favor of the bookmaker. But by being your own bookmaker, you have the further advantage of being able to offer better odds, or a better service or system.
If you make a profit betting on sports, you will always have that small edge, and the odds are increasingly in favor of you as the event is completed. The odds might be four to one, or two to one in many cases. Much to your advantage if you are betting on sports.
However, the betfair betting exchange does not offer a bet in play option, and will only offer the chance to back a selection to win, or that will lay a selection to lose.
In other words, in theory, you will be able to bet in play on any sport such as football, rugby, tennis, golf, etc that it is available to do so online. In order to be successful with betfair betting, in play betting on sports, you need to be able to spot the signs of a poor bet and assist yourself accordingly.
Joining the betfair online casino, and using the betfair betting exchange to bet on horse racing, and sports such as football, where there are no first hand records, is one way to make money online. However, the betfair betting exchange does not offer the methods, or the platform, to do so. Perhaps there are other betting exchanges available online, or perhaps there is a betting exchange out there to compete with Betfair, or another such firm.
However, the betfair betting exchange is a highly liquid market, with prices and odds changing rapidly. You have a lot of price comparison around any major sporting event, and no matter which way you bet on this market you have a price.
The initial bet on a football match will likely be around the 10 pence mark, so the equivalent of your stake going on the winning outcome is 10 pence. The subsequent bets can be made throughout the 90 minutes of the game, and so the market is kept open for anyone who wishes to bet during this time. However, if the bet is put in after kick off, it is not possible to change the price.
If you wish to bet before kick off then you are referred to the “in play” section of the football betting exchange. The bookmaker or other market maker may or may not advertise their football betting available, but if they don’t then it is difficult to find a football betting alternative.
When betting before kick off there is a temptation to quickly back a selection as you see the necessary odds have been laid out by the football betting exchange, and you supply the stake. However, the betting exchange price should not be your deciding factor, as it is still a bet, and you should back your selection based on the need to improve the bet.
Typically, you should look for a team that is well renowned for their home results, or a team that has a good away record. Nonetheless, before we look at the odds on a football team, we should clarify the meaning of odds.
The odds at the time of your bet are the odds that the bookmakers use to substitute the money that you would otherwise have deposited into your account. The odds are not the same as the head to head odds that you see online – the odds are an underestimate of the chance of your selection to win, and the moneylines are designed to make a profit.