Betfair is the world's biggest betting exchange that differs from a traditional bookmaker by providing a platform for punters to bet against each other.
On Betfair, punters can place bets to win (back) or they can essentially bet that an outcome won’t occur (lay) and they place bets at the prices they choose.
This diversity of bet options means that the Betfair exchange essentially acts like a stock market for sport.
For example, imagine two friends having a bet while watching a football match; an impartial observer holding the money while the game is played. A betting exchange works in the same way: our punters bet against each other, and Betfair holds the stakes until the bet is settled.
By allowing people to wager against each other, Betfair is assured to provide you with the best odds around, because there is no bookmaker to take liability for bets placed.
We have customers from more than 60 countries that all bet into the same markets.