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What is Betfair ?

The Betfair group of companies ('Betfair') offers a global portfolio of gambling products and services. This includes the world's leading betting exchange (a concept pioneered by Betfair), which is provided in the UK. Betfair's other betting platforms include a bookmaking operation provided from Malta and a second betting exchange in Australia. Separately Betfair's established gaming products include Betfair Poker, Betfair Casino and a number of exchange-enabled games. All of these are offered from Malta. Betfair is a licensed gambling operator in the UK, Australia, Malta, Italy, Austria and Germany.

Betfair was founded in August 1999 by Andrew Black and Edward Wray in order to commercialise betting technology that had been under development for the preceding year. The technology used by Betfair is proprietary and, as well as being protected by copyright, is the subject of patent protection in various jurisdictions.

Why Betfair ?

Betfair offers you unprecedented choice, value and control. You can bet that an outcome will happen (back) or that it won't happen (lay). You can choose the odds at which you want to play. You can bet whilst the game is in play and you can play on a range of products and innovative games.

Back or Lay

When you 'back' a selection (be it an individual, a team, horse, dog or other), you are betting that it will win. This is just like betting with a conventional bookmaker.

When you 'lay' it, you are betting against it winning. For example, if you're betting in a market on which team is going to win the Premiership and you lay Man Utd, then if they win you pay out. This is what bookmakers traditionally do

Choose Your Odds

If you want better odds than are currently available, you can place an order for a better price, but bear in mind that if your price is unrealistic your bet is unlikely to be accepted. Note that the odds available often improve nearer to the 'off' (or when the event starts) as interest and betting activity in the markets increases.

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