01 Getting started / Betfair Education / 24 January 2008 / Leave a comment

In the UK, Betfair provides a betting exchange, quite different to a traditional bookmaker. A betting exchange is essentially a stock market platform taken across to betting on racing and sport.

Customers bet against each other not against Betfair. Think of it as like two mates in a pub with opposing views on a game and having a bet.

Betfair works like an impartial barman in the pub who holds the money until he gives it to the winner.

Betfair give you all the guidance you need, and we encourage winners! We don't ban or cut back as is the case with many bookies who limit stakes or close accounts if anyone "dares" to beat them. It doesn't matter to Betfair, because we take no position in the markets.