FREQUENTLY ASKED QUESTIONS
HOW TO USE BETFAIR EXCHANGE?
If you want to know how to use Betfair Exchange then watch the video below for a step by step guide:
Betfair Exchange homepage
The Betfair Exchange is easy to use and finding our way around is pretty straightforward.
It’s important to point out that Betfair also run a Sportsbook, so we need to be sure to click the Exchange tab on the main menu.
All available sports are listed down the left-hand side, and if we’re looking for a particular event, we can also use the search box at the top of the page.
The most popular events are listed in the centre of the homepage for ease of access.
In the left hand box look for Horse Racing – Today’s Card and click on this. This will take you to the next available to bet on race. Just scroll down until you find the race you are looking to bet on.
We have the 14.55 at Nottingham – a 4 runner 6f Handicap.
Wentworth Falls is quoted with BACK ODDS of 2.36 (the BLUE box) and LAY ODDS of 2.38 (the RED box).
This means if I place a £5 bet to win (BACK BET) my profit would be £6.80 and if I place a £5 bet for the horse to loose (LAY BET) my profit is the £5 if the horse looses but my LIABILITY (or loss) is £6.90 if the horse wins.
LAY bets and BACK bets should be neutral if struck at the same odds.
THINK about it this way. If you were at the races; you are the BLUE box and the BOOKMAKER is the RED box. You back the horse at 2.36 (approx 11/8) with the bookie. If you win (ie the horse wins) he looses £6.80 which he pays you. If the horse looses then he KEEPS your £5.
BETFAR EXCHANGE allows you to be both the PUNTER and/or the BOOKMAKER.