The company Betfair is known not only as a bookmaker but also as the world's largest stock exchange for sports. It was founded by entrepreneurs Andrew Black and Edward Ray in 2000, and in 2016 the company teamed up with the Irish bookmaker Paddy Power.
The bookmaker does not accept bets; it performs the function of an intermediary between players who bet. Betfair charges a commission as the site owner for each payment - 5-7%.
This approach has become innovative in its time and, although there are other stock exchanges (Matchbook, Betdaq, Smarkets); it is Betfair that remains the industry leader. The most important thing for a stock exchange is a large core of regular users: the more players on the exchange are, the higher its liquidity is, the more bids can be offered and registered.
The process of placing a bet occurs according to the scheme: there are users offering their quotes and the amount they are willing to accept for the "sold" odds (it must necessarily be available on the player's account), but there are those who study the bids and accept them. In the process of the virtual handshake, Betfair blocks the bet amount from the "buyer" and the possible winnings from the "seller" and calculates the deal after the sports event is over.
Odds on the exchange depend on users - there are no restrictions except common sense, but sometimes they are violated by those who want to attract the attention of traders, setting quotes that cannot be seen from the bookmaker working within the bookmaker margin.
Betting options at Betfair are not surprising, but the coefficients are at a decent level. This section makes sense to use for security, but on the other hand, the function of Cash Out has been working on Betfair for a long time.
Betfair betting is one great special offer, but the bookmaker has other goodies. For example, the bookie gives a bonus at registration - €10 ($15). To become a happy owner of a free bet, you must make the first deposit of €10 within seven days from the date of registration. In case it does not play, the bookmaker will return the same amount. In case of victory, the client will be satisfied with his own winnings only, and the bonus will not be counted. Periodically, other promos are conducted with a similar principle.
There is a cumulative program of points at Betfair, which are charged with the number of bets. Since there is a commission for winnings, points reduce its value.
Also, Betfair is proud of the Cash Out function, which gives a part of the bet. This feature may come in handy if the game develops successfully, but the client wants to reduce risks and at the same time leave a chance for a good win.
This not the end of “tasty” bonuses from Betfair, as the company offers a lucrative alternative to traditional Betfair accumulator insurance, called Acca Edge.
Since December 2015, Betfair has been offering a new EDGE function. As Betfair acca edge explained, this is an opportunity to get the amount of the bet back, if the acca does not play one event. According to Betfair acca edge rules, when placing an acca with three or more events, activate the button Edge. This type of Betfair acca insurance will reduce the potential winnings by 10%, but will return the amount of the bet for one lose.
Another offer is to distribute Acca Insurance Betfair Edge to all kinds of events. There are no limitations on the maximum amount of money back. There is no minimum threshold for placing a bet.
Betfair acca edge will be removed from your accumulator if it contains an outcome where Acca Edge is not applicable. Given the Betfair acca insurance terms and conditions, it is not available for betting on victory/place, Starting Price, a combination of accas, accumulators made with free bet bonuses. The Cash Out function can be used for acca Betfair Edge, but after that, the initial bet will no longer be returned.
However, there is also a Betfair acca edge loophole - when this option is activated, the overall stake of the accumulator decreases, which reduces your winnings with a favorable outcome of matches.
In any case, you need to know how to claim Betfair acca exchange as it will be useful for many players and especially for playing on large coefficients.
Betfair is one of the best platforms for professionals. Here everything is done for the convenience of the players.