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Betfair is an extremely popular person-to-person betting site that cuts out the middle man (the bookmaker) and matches up punters who want to back a team/player/horse with those who want to lay a team/player/horse. Set up in 1999, it has three main advantages over betting with a traditional bookmaker. Firstly, you'll get a lot better prices - a couple of prices above bookmakers' quotes are the norm, for example 3/1 when the bookies are offering 5/2. Secondly, if you think a particular team/player/horse will lose you can lay it. Thirdly, you can get on right up to the off and there's none of the irritating knock backs and refused bets that are standard fare for a successful punter with a conventional betting website.

Unlike other person-to-person betting sites, Betfair doesn't just deal in frivolous sized bets at unattractive prices - you can get several hundred pounds on most favourites at above the market odds: over two million pounds in bets take place every day!

How Does Exchange Betting Work?

The site works by you putting up or taking an offer already put up by someone else - you name your price and stake (for example, I want to back Tiger Woods for £50 at 3/1) and if it is competitive it usually gets taken up by another punter. Betfair charges 5% commission on net winnings (nothing on losing bets), but there is no tax and the commission is more than compensated for by the better prices, so there's no need to bet with a bookie ever again!

There are plenty of markets to bet on from financial bets to sport bets. The majority of live sporting events on TV are covered. Unlike betting against bookmakers you can actually bet on something NOT to happen so for example, you could bet that Argentina will NOT win the World Cup or you could bet on a live football match on Team B NOT to win.

You bet against a fellow punter. You can create a bet for somebody to take or you can take a bet that somebody created. When creating a bet you specifying the odds (which is in decimal format rather than the old-fashioned fractional format) and specify the stake. As an example, suppose there is a match going on between Man Utd and Man City and the score is currently Man Utd 1 - Man City 0. If you wanted to create a bet on Man City NOT to win then you create the bet on Man City NOT to win and this means you are inviting somebody else to take the bet on Man City to win. You may also create bets on nobody scores the next goal, the match is a draw, etc.

Taking somebody else's bet involves specifying the stake. If there are more than 1 bet on the event you wish to take then you will automatically take the bet with the highest odds. For example, if you wanted to take a bet on Man Utd to win and there is a bet with odds of 1.2 and another one with odds of 1.25 then when you take that bet you automatically take the one with odds of 1.25. Once that bet is taken nobody else can take it unless it is created again.

Ezilon.co.uk's favourite bets are the financial ones and live football - they are the easiest ones to win. Betting on the Dow Jones just before it closes or betting on live football match just before the ref blows his whistle usually gives us success. Of course, goals have been scored with the last kick of the match so we have come a cropper on the odd occassion but on the whole we have won a lot more than we lose!

Certified and Regulated

The British gambling industry is the most highly developed and regulated in the world. These regulations ensure that you can bet with confidence with Betfair. Over 100,000 active punters have been using Betfair.com since 1999.

You can open an account and be winning today! Simply sign up online and off you go.

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Alternatively, if you prefer a join a traditional betting site we would highly recommend Ladbrokes who were recently awarded 'Sports Betting Operator of the Year'. They are offering FREE betting credit to every new member for a limited period so sign-up today!

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