Help with Betfair

hey. well to be honest I did my tenner on casino but heres how it works:

1. With Betfair a customer can "lay" a horse - back it to lose - as well as back it to win or be placed

2.Betfair's odds are expressed in decimal terms (eg 4.1) and not in the traditional way (eg 6-4). 4.1 means that for every pound staked you receive a return of £4.10 which includes the pound stake. The decimal equivalent, therefore, of 2-1 is 3.0

basically betfair cant lose - they take a percentage of each win - 2-5% (youy however dont notice this as the odds include it!)

to simplify its me betting against you - not both of us against the bookie. if you want anything more specify, just ask

ah - with this one its matched betting. its to do with someone else matching that bet - basically betfair need two bets of the same but on opposing sides.

if i was betting £5 team A to win, you would need to bet £5 for team B to win - i think thats how it works on that

The customer does not bet directly with Betfair. It simply connects gamblers with opposing views on the outcome of a sporting event.

It will only accept a bet if it is matched by another customer and it uses technology to match bets instantaneously.

If the bet is large then it is likely that it will be matched with multiple counterparties. that is how it officially explains it

yeah so if i placed X pounds there would need to be X pounds against it or a combination of less than X pounds to match me.

your welcome.