Betfair In Detail
Here are some details regarding using Betfair’s unique bet matching service to wager on thousands of different markets. Join up today and Betfair Better Odds Than Bookmakers. Limited Time Only.
Everything from once a year occasions such as The Melbourne Cup to daily events such as the Saturday meets at the metro courses to picking future events for seasons not yet begun. Here you can even find opportunities to wager on the major sports such as racing, rugby and cricket, along with some unusual offerings, such as the outcome of elections and snooker.
Establishing and Funding a Betfair Account
It would be a truly great world if all account management tasks were as simple as is the process with Betfair.
Start by clicking the OPEN AN ACCOUNT link that appears on many pages throughout the Betfair site. Provide your name, address and email address in the provided form. Create a user name and password, and then set up some security measures. That is all it takes. Click here to join and grab that Better Odds Than Bookmakers.
Once your account has been established and you are notified that it is active, choose a method with which to fund your account. Click here for Free Melbourne Cup Bets and Information
Betfair account can be funded via transfer to a NAB account, Bpay, Poli, or credit card.
Ways to Bet: Back and Lay wagers
Most punters are well acquainted with backing a selection. You are simply making a wager that your selection will win or finish in the position you anticipate. A historical example, for instance, would have you selecting Makybe Diva to win the Cup, or maybe finish second or third. That is backing in a simple form.
Laying is less familiar to many punters. In this instance, you are essentially filling the role of a bookmaker, wagering against other punters who are betting that their selection will win. To use our previous example, you could lay Makybe Diva in the Cup. As long as she didn’t win, your lay would be a winning proposition. It should be fairly obvious that laying can be a conservative technique. The odds you offer and the potential winnings will clearly reflect this reality. The key difference is that your risk is the amount of the backers’ stakes that you are taking at the odds you are offering, not the amount you would be risking.
With lay betting, it is though you have become your own version of the Waterhouse clan, or the TAB, for that matter.
There are still some who have not yet adopted online wagering due to discomfort with the technology or a simple desire to remain with a familiar system of wagering.
Betfair offers telephone wagering for these punters. Their call centre is staffed seven days a week, around the clock, so a live human is always available to take your selections and steer you through the process. Everyone who sets up an account with Betfair receives a Telephone Account Number, known for the sake of brevity as the TAN.
Placing a bet via this route is simply accomplished by dialing Betfair Telbet at 132 BET (132 238). Provide your TAN, along with your name, and then ask the operator for the market for which you wish to place a wager.
Telephone betting is an Australian legal requirement for taking advantage of Betfair’s in-play offerings. In-play betting is further explained below.
Change Your Mind? Change Your Bet
In-play betting is the method Betfair provides so that punters can place additional wagers or offsetting wagers after an event has commenced.
Consider this example. You backed Novak Djokovic to beat Viktor Trociki at Wimbledon. Djokovic of course, is heavily favoured, so current odds indicate that you would only win $1.04 per dollar wagered. This market does require a minimum two dollar wager, so at the minimum you stand to make $2.08 from a Djokovic victory.
Due to a bout of insomnia, you are awake when the match is taking place, so you turn on the TV to discover that Troicki has stunned Djokovic by taking the first two sets, and is holding a break in the third. There is a potential for a major upset in the making. Before the match began, Toicki was providing tennis punters with odds that a win by him would result in a payout of $50 for a two dollar bet.
Due to the potential upset, those odds will drop, but it may still be possible to back Troicki at odds where a small wager would produce a payout that both negates the loss from the earlier wager backing Djokovic and produces a nice winner as well.
That, briefly, is the nature of in-play betting.
There are a few factors of which to be aware regarding this form of wagering. Tennis, and many other markets, are back only. Lays are not permitted. You can determine which markets permit lay betting by the presence of a red lay tab on the market you are viewing. Telbet operators would also immediately inform you of this factor.
Secondly, in-play betting does require telephone betting in the case of sports. You may, however, cancel online an in-play bet placed over the phone. No other online modifications such as odds or stakes are permissible.
In-play punting online is permissible for racing. This is currently limited to group racing, but there are indications that this limitation may soon be lifted. Wagers are accepted up until the first horse crosses the finish line.
The most important thing to remain aware of with in-play betting is that you must be absolutely certain that you are receiving a live feed. Broadcasters can and do delay events to fit time slots, so in the case of our tennis match example, it is possible that the broadcast was delayed until the top of the broadcast hour.
The act of constructing your wager as in the above example, where a betting position opposite to the original is established while the event is in-play, is known as trade betting. You do relinquish some of your profit when engaging in trade betting. Prices fluctuate constantly. You may be able to formulate a winning position by backing a selection at high odds, then laying it at low odds. The opposite could be achieved by laying at high odds and subsequently backing at lower odds. This technique is good for reducing losses or for squeezing a profit out of a substandard wager that defies the odds that were available prior to the event.
The fee structure at Befair is simple and straightforward. Join up today and Better Odds Than Bookmakers.
Commissions are applied to winning wagers only. Losing wagers are limited to the amount staked.
These commissions range from between five and 8 percent for all markets. Betfair offers an attractive incentive scheme where punters can have a Discount Rate (DR) off the Market Base Rate (MBR) that is dependent on the frequency of their betting and the amount staked. Simply, the more you bet, the greater will be your discount, meaning that you will pay lower commissions.
Another current incentive to establishing an account with Betfair is available exclusively through this website. Better Odds is new and is now available. Join Betfair today and try it out.
You can establish Financial Limits to your account so as to limit the dollar amount of deposits. You can also place limits of total losses. Transfers can be likewise restricted. These can be established online or with the assistance of the help desk.
You can also completely cut off all access via Betfair’s self-exclusion feature. One click can shut down your punting completely, or you customize it to avoid markets that are problematic for you. This feature can also be done online or with assistance from the help desk.
Betfair also provides multiple resources for controlling any gambling impulses. In addition to the self-exclusion feature, an objective third party can be enlisted. There are also links to gambling counselling resources if you suspect or are aware of gambling problems.
It is against Australian law for anyone under the age of 18 to have a Betfair account. Betfair follows all legal requirements with regard to verifying legal age. They will restrict wagering account activity until they receive satisfactory proof of compliance with age regulations.
Violators of this policy will give up all winnings. The appropriate law enforcement agencies will be alerted, which could result in fines and incarceration in addition to the loss of any illegally obtained winnings.
Betfair has made it possible to wager on almost every conceivable event where an uncertain outcome exists. They currently offer over 7000 wagering markets.
Their online wagering system is state-of-the-art, and is constantly enhanced and upgraded based on the suggestions and feedback of the members.
As a bet matching service as opposed to the role of the TAB or traditional bookmaker, punters receive the opportunity to act in this capacity. This is a major breakthrough in the realm of punting.
Include in-play wagering and trade betting into the mix, and it is easy to see why Betfair has firmly established a position as the world’s leading bookmaker. Easy online and telephone betting makes it simple for even the novice to participate. Veterans appreciate the convenience of a one-stop website that can handle all their requirements.
Any serious, or even casual punter for that matter, owes it to him or herself to thoroughly investigate the advantages and benefits that Betfair offers that have made Betfair the choice of millions and the largest bookmaker in the world.
Mobile Betting is Here!
Mobile betting has arrived in a big way. All the major bookmakers support mobile betting through your mobile device.