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Betfair Exchange UK: Learn The Ins and Outs

best betting exchange

When we talk about the best bet exchange sites in the United Kingdom, there are few to account for. The pioneers and, probably for the same reason, leaders in the betting exchange industry are Betfair. The renowned firm started the exchange back in 1999 and it quickly got recognized by a huge pool of bettors who still enjoy its traits, although it has seen its ups and downs with time.

Easily accessible on the Betfair website, the exchange serves as one of the top places to back or lay bets in the country, as you take up a role of the bookie and they just serve as sort of a middleman. While this was once unthinkable, Betfair UK made a once-revolutionary decision and the exchange is now a well-known business model.

However, there are many reasonable questions beginners tend to ask. How does it work? How to place your first bets? How bookies make money off it? How does the Betfair Exchange UK compare to the traditional sportsbook? Let’s tackle some of the key questions.

  • Back or Lay a wide betting selection
  • Have bets matched and boost the odds you’d see with traditional bookies
  • Learn Betfair exchange strategy and make the most out of your knowledge
  • Try a different kind of betting today
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Betfair Exchange UK: Six Things To Know When Setting Up

Before following through with your Betfair exchange tips, let’s briefly have the bet exchange explained.

How does it work?

Betfair Sports is a pioneer of betting exchanges in the UK and as such, it still offers the best range of events and markets you can bet on. It’s rather simple for the bookie themselves, as they just input the available markets and bettors determine odds on which they are willing to place bets. This has obvious positives for both the firm and the customers.

Most traditional bookies live on the odds they offer expecting most money to go on the favourites, with regard to the quality of the sides in question, latest news, and more. However, bet exchange only works for the commission Betfair charges on winning bets.

Betfair Exchange UK

Looking for something different? Check out Betfair Exchange and bet against other punters

On the other hand, liquidity comes as a must for a huge and prominent company such as Betfair, which comes along with a huge customer base. Bettors enjoy potentially better odds and more net winnings than they would get with a traditional offer if they have matched bets.

How to get into the action?

 You can access the exchange at the top of the Betfair website and put your Betfair exchange tips to use real quick.  However, whether you’re interested in going for Betfair Exchange UK horse racing or politics and the Betfair Exchange UK election – getting there for the first time might feel strange.

Firstly, what are all the blue and red fields? The blue option is backing and red is laying or going against the outcome, where you can also see how much money is actually placed on any of the options in the same square.

Now, when you select any of the options, you get a small pop-up window, where you get to input your stake and simply click “Place bet” in orange – even getting the profits automatically calculated in the bottom part of the button.

Positives and negatives of such wagering

Of course, like with any story, there are both positives and negatives to exchange betting. You can find great value for money and make better use of dark horses you believe in, as long as your bets get matched. This means betting on the outsiders is a great positive as you are bound to get enhanced odds.

However, this does come at a price. You do have to pay a commission when you win bets and while losing bets obviously come off cheaper, the commission paid is calculated according to a Market Base Rate based on the place of residence. There’s also a Discount rate which is calculated with the number of Betfair points you’ve earned.

The question of liquidity is also an important issue, as there always needs to be enough money placed on the picks for the bookie to be able to pay out the winnings. This is obviously something you need to be wary of when choosing your battles.

The odds

All odds on Betfair Exchange UK are expressed in decimals. This means that if you’re not used to seeing them expressed this way, it’s worth taking some time to get to know them. Just like fractional odds, these are very easy to understand and follow once you’ve mastered it.

You will simply multiply the odds in offer with your stake to get the potential winnings, including the money you’ve placed. To make out the profits only, you would then just deduct the stake from the total winnings and there you have it!

For example, if you’re betting £10 at 1.50 (which converts to fractional odds of 1/2), a winning bet would bring you a total of £15. To get your profits only, you’d then deduct the £10 stake and get £5. However, if you’re still having troubles, you need not worry as Betfair have enabled you to hover over any odds on the sites and convert the decimal odds to fractional.

Betfair Exchange strategy

The Exchange makes it possible to bet on a variety of different events and markets

The bonuses

As one of the top bookies in the World, Betfair offers both standard and occasional promotions. For example, May 2018 brings a 2% commission on all Premier League bets as well as a Bet £10 on Exchange, Get £5 on Sportsbook promo. You can also earn occasional Exchange bonuses on the sportsbook, which often come at £5 or £10 value and could be a great way to explore if you’re just starting out on the exchange platform.

The current New Customer offer on Betfair Exchange UK is a £20 risk-free bet bonus, which sounds just tasty. However, it’s best to check out the bonus details on Betfair website and examine them with care before you registering, as you want to know all the salient features first-hand before taking it up.

Terms and conditions are especially important if you’re bonus hunting, but you’ll obviously need to know how to get the sign up bonus credited properly regardless of your wants. Some of the promotions require Betfair Exchange UK login and opt in, so please bear in mind. It’s also important to note that Betfair is not too aggressive in pushing their promotions so you might need to dig a little by yourself or ask the Customer Support all about it.

Live Betting

Betting exchange is tailor-made for live betting and it’s impossible to ignore the fact you need to be ready to take live action if needed. While the bets will only become valid once enough money is raised in the exchange for a certain event/outcome, bettors can boost their stakes or back out and cut losses in-play and at any given point.

Peer-to-peer gambling is obviously very popular worldwide and Betfair hold licenses to provide their service across the globe, with 50 different licenses including Australia, the USA, and Spain. However, options in offer could differ with the countries’ respective rules and regulation. For example, you’d thus only able to place live bets in Australia by phone. These should be taken into consideration and explored more by bettors in other parts of the world. It’s also important to note that most of the in-play action happens with major sporting events with live TV coverage available.

Betfair Exchange UK

Bet against your fellow punters and see if you can outwit them

Talking Points

Many bettors enjoy the betting exchange platforms and Betfair Exchange UK is surely one of the best available in Great Britain. With that in mind, it’s one of the best to start off at and putting the Betfair exchange strategy into use. Now that you’ve learned the essentials, there’s no better way to make the best out of what’s in the offer than to continue putting it into practice.

While it obviously differs from traditional sportsbook, the exchange has great traits of its own and has been attracting the bettors over the years for a reason, putting Betfair on the map in the gambling industry. Furthermore, it’s easy to master the ins and outs – which will surely have you exploring the depths soon enough.

We have now discussed all you need to know for a fresh start but we do recommend taking other bettors’ experience before jumping on the Betfair Exchange app, as you don’t want beginner’s luck leading your way or influencing your decision-making if you’re to make the switch.

This detailed guide has certainly covered a large chunk of Betfair Exchange UK users need to know and there’s not much left but head over yourself, explore the platform and try getting some of your winning tips matched at great odds – trying out and testing your knowledge put against other bettors with the same wants. You can also check out Bookmaker UK  Betfair review if you need more info on the company itself as well as go through a Bookmaker online  checklist and see all the little details that make a great firm by yourself before signing up.

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