|Betfair is a betting exchange not a traditional bookmaker. Betfair acts as a broker and provides the technology to match bets placed by individuals. All bets on Betfair have been placed there by users who want to have a bet in the normal way (back), or "be the bookmaker" & offer odds to other punters (lay).
Bets are matched between people with opposing views.
Key Betfair features:
You can back or lay a bet.
You can choose the odds you want to play at
You only pay commission on winnings. |