3 Betfair Exchange Trading for Beginners: The Basics of Betfair

#Betfair #Betfairexchange

Let me take you back to the year 2000 (no this is not a busted song!). It was June and two entrepreneurs called Andrew Black and Edward Wray launched a website called Betfair, this website changed my life.

The whole idea around the Betfair exchange was to create something which mimicked the stock market, except the major difference the items for sale were not companies or gold they were betting odds. This website changed the face of sports betting.

It changed because now anybody could be a punter and a bookmaker. Meaning that odds could be bought and sold or as it is called on the Betfair Exchange backed or layed - the prices, just like the stock market were constantly moving.
This cleared out the bookie over round, which is where bookmakers used to make a huge profit now was gone. The price that are sold on Betfair should reflect their true value of the market, thus offering a better price and value for those betting on them and for us Betfair traders.

I always describe Betfair trading to people ‘It’s like investing in the stock market, the only difference I invest in athletes and sports teams instead of companies.’

That in a nutshell is what you can do on the Betfair exchange, you place two bets on the same selection to create a profit. This has enabled professional Betfair traders to make huge sums on the Betfair Exchange and probably why you are reading this post today.
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