» Betfair
What is a betting exchange?
The betting exchanges such as Betfair and Betdaq have literally revolutionized the betting industry. They are becoming increasingly popular and with Betfair having over 1 million customers many punters have already experienced them.
Basically, a betting exchange is a tool to bring punters together to bet against each other. Betting with other people through Betfair removes the need for a traditional bookmaker, allowing exchange users to bet directly with other exchange users at a price and amount that they both agree upon. It is person to person betting, using the exchange platform as the go between. All Betfair does is hold the money for every bet and then pays out the winner with the loser’s money, taking a percentage (2%-5%) from the winning side.
Laying horses on Betfair
On a betting exchange, you can BACK (the most traditional way of betting : you bet a horse to win) or LAY. Laying a horse means that you can act as the bookie and make money from horses that lose. And that’s exactly what we do with our daily selections at RPC. For instance, if you lay £10 @ 2.5 on the favourite horse in a race, that means you have taken a £10 bet from someone who wants the favourite to win, and you have both agreed on a price of 2.5:
So if the horse wins:
Lay bet loses so you payout £10 x 2.5 = £25 - £10 (your stake)=£15
but if the horse loses:
Lay bet wins so you get back your £10 stake and get another £10 as your profit.
Opening an exchange account
Having a Betfair account is a must for any gambler.
If you’ve visited this website it’s probably because you are interested in profiting from your betting by laying horses on the exchanges. In addition to taking advantage of the profitable service we are providing, you can also get a £25 free bet when you sign up!
Just click on the advert above to start registration form. You will receive your Betfair Free Bet once you have spent a total of £25, you can do this all at once or in a number of smaller bets.
Happy betting!