Welcome to our Using Betfair page. Here we will list all of our Horse Racing betting strategies.
HOW TO USE BETFAIR FOR PROFIT
Betfair was started in 1999 as a place where punters could bet against each other rather than against the bookie.
The set up an exchange which works like the stock exchange or any other exchange. Someone offers a price on a horse and if this price is attractive then someone will take it. The person offering the price is acting like a bookie and the bet he is taking is called a “LAY” bet because for him to make money the horse needs to loose. The person taking the price is making the “BACK” bet.
So Betfair offers you and I for the first time the capability to not only back but also lay a horse – see a simple guide to using Betfair here.
This means we can do a whole load of things that we couldn’t do before:
- Trade a horses price. This means backing a horse at a high price and then laying it at a lower price and then taking the difference as profit. This is called scalping and you can find out more on my YouTube video here.
- Back a horse before the off at a high price, and because you know that it likes to front run and is the only horse in the race that does, then after the off when it goes off in front – LAY at lower odds and take the profit. This is called a Back to Lay bet – see my YouTube video here for more explanation here.
- Get PLACE value from races where there is a particularly low priced favourite or where we believe that the horse in question has a great chance of winning but we want to hedge our bets. For example see my YouTube video here.
- LAY horses who are low priced favourites only because nothing else stands out. They are favourite not because they have shown great form but because they appear to be better than the rest ie the best of a bad bunch. These are FALSE FAVOURITES and should be layed.
- CASHING OUT on Betfair Exchange is really easy and for some is a way of ensuring that when their bet shows a profit they can take it – see the YouTube video here .
- Betfair also has tools which can help you spot which horses in a market are shortening in price and which horses are drifting – watch the YouTube video on this here.
Also we will talk you through using Betfair as a way of watching racing live in real time as it happens for free (ITV, Racing UK, At The Races and online bookies often have several second delays on their racing feeds). So be ahead of the game!
Scroll through the posts below for information and help.
You can also visit our YouTube channel and view easy to follow guides on how using Betfair can make you money at low risk.