Betfair

[anto1208]

Anyone use this site or have any idea how it works i normally use PPower website but im getting sick of the poor odds a couple of people have mentioned this site. they say that you bet against other people ? and you can be the bookie

anyone shed any light on it ?

[Risteard]

Why do you need to understand it?
Just take the odds.

[anto1208]

Am i betting with the site or other people or if i start being the bookie will i loose my house !!!

[Risteard]

You are accepting odds placed by other users.
If you are placing odds, you can only risk as much as you have in your account.
Betfair makes money by a commission (5% i think) on your winnings.

[Dodge]

Am i betting with the site or other people or if i start being the bookie will i loose my house !!!
If you have to ask questions like that I suggest you don't use the site.

If you want to learn there's a good "playable" demo on the site

Its very easy to use and by far the best tool out there for gamblers/sports traders.

If you play enouigh your commision will become less...

[the 12 th man]

Without a doubt better odds than PP's etc,particularly on horses over 10/1.

Schindlers hunt today was 25/'1 on PP's 50/1 on betfair,Finger On The Pulse 9/1 PP was 11/1-11.5/1 on betfair.

[Rovers fan]

I set up an account with betfair last year and such hassle it caused me. They suspended my account straight away and we emailed,rang up and everything but got no proper answers so i had to cancel the account. I don't know why it happened,i changed my password straight away when i got the account cos it was too obvious but i doubt that would have caused it.

Good odds all the same.

[osarusan]

I know it might not have been betfair, as it just says "online betting exchange", but look at this!

Jim Bolger's horse New Approach won the Epsom Derby after being supplemented just 5 days before.


Others, however, who had made Derby calculations based on the horse's absence, were furious and there has been much talk of "contempt" for punters in angry parts of the media.

And quite what the person must be thinkingwho accepted a bet of £27.50 on New Approach at odds of 209-1 on an online betting exchange on 1 June is probably not printable on this website.
http://news.bbc.co.uk/sport2/hi/other_sports/horse_racing/7433685.stm

[the 12 th man]

I know it might not have been betfair, as it just says "online betting exchange", but look at this!

Jim Bolger's horse New Approach won the Epsom Derby after being supplemented just 5 days before.

http://news.bbc.co.uk/sport2/hi/other_sports/horse_racing/7433685.stm

Don't think the horse was supplemented,just forgot to scratch it.

That bet was indeed on betfair-209/1-ouch:)

[elroy]

I used to use PP all the time and I can honestly say I never took money out of my account. Not a big gambler by any means but set up a betfair account about 6 months ago or so, lodged 35 and my account is about a grand now. Usually lay bets like for example Hull at united last wkd or sunderland at chelsea and over time it adds up nicely. Obviously every now and then there is a shock (ie hull winning at arsenal) and it can screw the above strategy. But you can always save yourself if the game has inplay betting.

[anto1208]

I used to use PP all the time and I can honestly say I never took money out of my account. Not a big gambler by any means but set up a betfair account about 6 months ago or so, lodged 35 and my account is about a grand now. Usually lay bets like for example Hull at united last wkd or sunderland at chelsea and over time it adds up nicely. Obviously every now and then there is a shock (ie hull winning at arsenal) and it can screw the above strategy. But you can always save yourself if the game has inplay betting.

What does the lay bets mean ? is it that you offer odds on Hull beating United only and not United beating hull and people put money on with you then so if utd win you keep all that money?

[Dodge]

What does the lay bets mean ? is it that you offer odds on Hull beating United only and not United beating hull and people put money on with you then so if utd win you keep all that money?

You're over thinking it (if somewhat right). If you think of someone laying Hull, you're betting that they won't win. You're effectively backing a Man Utd win or a draw.

To get any kind of return you need a big bank behind you. If, for example, Hull are 9/1 you'll be putting up 90 to win a tenner. (in betfair/european odds it'd be 10)

I'm the opposite. I lay a lot of odds on favourites. Arsenal were 1.12 (or roughly 1/8) to beat Hull. I layed them to win €100 and it cost me €12. It didn't matter to me if hull won or drew, I got the same result. (and like convential bookies, your stake is returned)

[dublinred]

What does the lay bets mean ? is it that you offer odds on Hull beating United only and not United beating hull and people put money on with you then so if utd win you keep all that money?

Laying is handy if the odds move in your favour , if you put a tenner on a horse at 50s you have potential winnigs of 500 quid , if the horses odds go down to 10s , you can lay off all or some of your potential winnings and accept upto 50 quid in lay bets and walk away wiht 40 quid profit either way before the race has started.

In theory Betfair will always have the best odds because if someone else offers better odds it will soon be layed off on betfair thus adjusting the price.

The best example of Betfair was on last friday night when Paddy Power suspended betting on a certain game it was still availible at circa 6/5 on betfair , I know a few people who piled into this.

[anto1208]

Have been messing around with this now for about a week did some backing and some laying with mixed results, now i have started laying greyhounds pretty easy system just pick a greyhound you have a 5in6 chance of winning over the punters 1in6 chance of winning. Have about 140 euro in the bank now. ( 40 of which is my own money the rest is winnings ).

[Raheny Red]

Laying greyhounds on the basis above?! Be careful, surely one of the quickest ways to the dawghouse.

[anto1208]

Laying greyhounds on the basis above?! Be careful, surely one of the quickest ways to the dawghouse.

ah i only do bets of 10 -20 cent so the most i loose is about 1 euro 20 cent.

Havent had one of your tips for a while so i need some income ;)

[kriscommons]

Betfair is a must for all sport betting enthusiasts imo but they have rightly received some stick from punters for having a site that is overly complicated and sometimes intimidating. I think they are trying to remedy that with the recent introduction of an SP option for horseracinh and a simplified site userface. I have been using them for six years now and can genuinely say that it has changed my punting life, the ability to bet against something (and trade) makes a huge difference. Incidentally, they have recently launched a sports betting blog with horse racing tips (http://betting.betfair.ie)and the like, there is a section there for people who want to learn more. It's a useful site i think.