Betfair Markets - Understanding the prices
Betfair Markets - Understanding the Prices
If your bet size is bigger than the amount available for your selection, you have to either take some at a lower price or ask for someone (a layer) to match the remainder of your bet.
Prices and sums available can change constantly – just because you don’t see enough to match your bet right now on Betfair, doesn’t mean it won’t be matched a few minutes or even seconds later.
What you see on the ‘Back’ side of the market are invitations for you to back a selection at a price – i.e. somebody else wants to lay that bet.
On the lay side, you see invitations for you to lay a selection – somebody else wants to back at that price, and the amount below those odds represents the backers’ stakes lining up – not the risk.
Next Best Prices – these are the prices, and the amounts available for those prices, that are the next best and are waiting to be matched.
How does the Betfair Exchange work?
The Betfair Exchange profits through charging commissions rather than by including a profit margin like a regular bookmaker does.
A betting exchange provides members with opportunity to bet against each other rather than a bookmaker and Betfair take their clip only off winning punters.
Betting exchanges allow users the flexibility to find odds and markets they want rather than risking a bookmaker who can dictate the stake and price for a selection.