TradeForProfit - Betfair Trading

TradeForProfit - Betfair Trading: "Betfair Trading


For those that have never heard of Betfair i suggest you click on the banner below and have a quick look round the site before you read on- don't worry like any shop it's free to look, take a look at their TV advert, it explains the basics fairly well.

Betfair is a revolution in betting terms. The basic principle is that you bet against other individuals on the net, not the bookies. This means that the odds are set by the punters and not the bookmakers, in return Betfair takes a commission on every winning bet (the more you bet the less you pay).

The other revolutionary concept that Betfair has introduced is the possibility to 'lay', or bet against. This means you can bet for a team or against it if you wish. In a ten horse field laying may seem the attractive option but losing a lay bet has increased penalties so beware! It also introduces the possibility to lay before an event starts (can be tennis, football, baseball, basketball etc) and then back the same team as the game goes away from them making a sure profit. The risk is that the team scores first, so again beware!"