Betfair is a personal betting exchange which means that the people who bet with Betfair are not betting with a bookmakers but are placing bets with other punters. It brings to together punters who wish to bet with other punters and not with an established bookies.
Removing the bookmaker means that the odds are often better and punters can pit their knowledge and skill against others.
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How it works
If you wish to bet in the normal way it is known as a "back", alternatively you may decide that you wish to be the bookmaker and offer odds on a particular sport or occasion, then this is called "lay". That is why it is known as a personal betting exchange.
Betfair offers betting on all major sports, including football, rugby, golf, horse racing, greyhounds, and many other sports, and other occasions.
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