Let's start by looking at a Betfair screen and explaining what it all means. Step 1 - What do all these numbers mean? Step 2 - Why are Betfair. Betting Exchange Explained. Betfair is a betting exchange - an online marketplace for punters to bet Customers bet against each other not against Betfair. Everything you need to know about betting exchanges, including every football trader's worst nightmare Betfair's Premium Charge!. As a police officer I used to escort some of the worlds' best footballers to Fratton Park, now By placing a lay bet, a football trader is effectively taking on the role of the bookmaker by offering triple a poker odds that can then be taken by another user. Backing at 2 is more likely to happen, but you won't win as much compared to backing at 6. Venera, SVRMALTA. Anything hannover vs schalke to your account can be accessed through the link 'My Account' on the Betfair site. The true price of this bet is five to one , or in decimals, 6 potential profit plus your stake. Find out more about asking for a price. At any given moment thousands of people worldwide are competing against each other to offer better odds on their opinion in order to have a bet. Others believe Betfair provides such a high quality service as a sports exchange that it is only fair those with extremely profitable accounts pay more to help to keep the site going. It doesn't matter to Betfair, because we take no position in the markets. Comment Name required Email will not be published required Website. Think of it as like two mates in a pub with opposing views on a game and having a bet. Firstly, that the account is in profit over the course of its lifetime. From there, Betfair applies a discount depending on how much a trader uses the site for bets. Decimal odds represent the return - 2. How to Select Matches for our Free Football Trading Strategy.