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BETFAIR

In Betfair, bets are matched between people with opposing views.
All bets on Betfair have been placed there by users who either want to have a bet in the normal way (back), or offer Betfair odds to other punters (lay).

WHO IS BEHIND BETFAIR?

Betfair is the trading name of The Sporting Exchange Ltd.
The Betfair registered office of The Sporting Exchange Limited is at:
The Waterfront, Hammersmith Embankment, London, W6 9HP.
The Sporting Exchange Limited is registered as a limited liability company in England and Wales, company number 3770548.
The Sporting Exchange Limited was founded in August 1999 by Andrew Black and Edward Wray in order to commercialise proprietary betting technology that had been under development for the preceding year.

The Sporting Exchange Limited is located in the United Kingdom and operates within the confines of the Betting, Gaming and Lotteries Act 1963. It holds a bookmaker's permit in England and Wales.
The technology used by The Sporting Exchange Limited is proprietary and, as well as being protected by copyright, is the subject of a patent application that has been filed with the United Kingdom Patent Office. Betfair .

CHOOSE ODDS WITH BETFAIR

If you want better odds than are currently available, in Betfair you can place an order for a better price, but be realistic because there has to be somebody in Betfair prepared to lay the bet at those odds, and vice versa.
With Betfair there is always a choice of what odds to accept.
In betfair, the odds often improve nearer to the off, as there are more people in the market.
Take a look at the odds before a game and you will see them change as Betfair visitors back and lay their bets.

WHY USE BETFAIR?

- With betfair you can bet whilst the game is in play.
- With betfair you can choose the odds you want to play at
- With betfair you can bet that an outcome will happen (BACK) or that it won't happen (LAY).

BACK OR LAY

Betting with Betfair, you never know who you are betting against, your privacy and the confidentiality of your bets is maintained by Betfair 's secure site.

When you "back" a selection in Betfair (be it an individual, a team, horse, dog or other), you are betting that it will win. This is just like betting with conventional bookies.
When you "lay" it, you are betting against it winning. For example, if you're betting in a market on which team is going to win the Premiership and you lay Man Utd, you offer odds to other punters who wish to back Man Utd. If Man Utd don't win, then you pick up the backer's stake. If Man Utd wins, then you pay out. This is what bookmakers traditionally do.

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