Betfair Exchange is an online sports betting exchange where punters bet against each other on the outcome of a sporting event. It is the world’s largest online betting exchange, with more than 5 million customers worldwide. Betfair Exchange allows punters to place bets on horses and other sports, with the odds set by the punter. This means that punters can get the best odds available, as well as the potential to make a profit from betting.
How Does Betfair Exchange Work on Horses?
Betfair Exchange works on horses in much the same way as it does on any other sport. Punters can place bets on a horse race, with the odds being set by the punter. The punter can then choose whether to back a horse (bet on it to win) or lay a horse (bet against it).
Punters can also use the Betfair Exchange to trade in and out of their positions on a horse race. This means that they can take a profit or cut a loss on a race without having to wait until the end of the race.
Types of Bets on Betfair Exchange
Betfair Exchange offers a wide range of bets on horses, including:
- Win Bets: These are the most straightforward type of bet, where the punter bets on the horse to win the race.
- Place Bets: These are bets on a horse finishing in the top three. Punters can also bet on a horse to finish in the top four or five.
- Each-Way Bets: These are bets on a horse to win or place. If the horse wins, the punter gets the winnings for the win bet and a portion of the winnings for the place bet. If the horse places, the punter gets the winnings for the place bet.
- Lay Bets: These are bets against a horse. If the horse loses, the punter gets the winnings. If the horse wins, the punter loses the stake.
- Trading Bets: These are bets that involve trading in and out of positions on a horse race. This allows punters to take a profit or cut a loss without having to wait until the end of the race.
Odds on Betfair Exchange
The odds on Betfair Exchange are determined by the punters. This means that the odds are always changing, as punters are betting on and against horses. This makes it possible for punters to get the best odds available, as well as the potential to make a profit from betting.
Commission on Betfair Exchange
Betfair Exchange takes a commission from each bet. This commission is typically 5% of the winnings, but can vary depending on the type of bet and the amount of money being bet.
Bonuses and Promotions on Betfair Exchange
Betfair Exchange offers a wide range of bonuses and promotions. These include a welcome bonus, free bets, money back specials and more. Punters can also take advantage of the Betfair Exchange loyalty program, which rewards punters with points when they place bets. These points can then be redeemed for rewards, such as free bets and cash.
How to Place a Bet on Betfair Exchange
Placing a bet on Betfair Exchange is relatively simple. Punters can search for the horse race they wish to bet on, and then select the bet they wish to place. They can then enter the amount they wish to stake and click ‘Place Bet’.
Withdrawing Winnings from Betfair Exchange
Punters can withdraw their winnings from Betfair Exchange using a number of different methods. These include debit and credit cards, e-wallets such as PayPal and Skrill, and bank transfers. Punters can also withdraw their winnings in the form of vouchers or gift cards.
Conclusion
Betfair Exchange is a great way for punters to get the best odds available, as well as the potential to make a profit from betting on horses. It offers a wide range of bets, including win, place and lay bets, as well as trading bets. Punters can also take advantage of bonuses and promotions, as well as the loyalty program. Withdrawing winnings is simple and can be done using a variety of methods.