Betfair accepts most major currencies and methods of depositing money. The Betfair betting exchange is good for sports arbitrage betting such as scalping. Scalping on Betfair is a form of back lay sports arbitrage betting.
The concept of betting exchanges was first brought to the public by the UK website Flutter.com in May 2000 in person-to-person betting format, followed closely by UK-based Betfair in June 2000. Betfair embraced a pure betting exchange model – one Flutter later adopted and even improved upon in places. But, Betfair was first into the betting exchange market and emerged the winner.
The Betfair betting exchange makes it’s money by charging a commission which is calculated as a percentage of net winnings for each customer on each sport event, or market.
Because Betfair is so successful it has a large marketing budget, as such they usually have a very good Betfair free bet offer.
One of the reasons the Betfair betting exchange is widely used is because it has generated a hugh fixed odds betting market. The amount of sportsbook betting is immense. Due to this the market on Betfair is very liquid, meaning that if you place a back or lay bet it will be matched. Not only small bets but larger ones too.
Football fixed odds betting markets on Betfair have strong trading volume and are popular with sportsbook betting traders. As are horse racing fixed odds betting markets and various others.
- Odds Betting
- Asian Handicap Betting
- Variable Handicap Odds Betting
- Line Betting
- Range Betting
Breaking with British tradition, Betfair uses decimal odds instead of fixed-odds gambling fractional (traditional) odds because they are more popular globally. Customers have the choice of which type of fixed odds to use.
You can use your Betfair free bet on all other the above types of Betfair betting.
The Betfair betting exchange has some limitations. Betfair does offer accumulators bets but these are limited in number. The fixed odds you offer have to be reasonable enough to attract other individuals to take up your fixed odds. Exchanges also tend to restrict the odds that can be offered to between 1.01 (1/100) and 1000 (999/1).