02 Placing a Bet : HID Betfair Education

The Market View

Thu, 24 Jan 2008 12:43:12 +0000

There are now three standard settings for viewing a Betfair market. In the first example below, you can see the market with only the BACK odds. Note the Back & Lay and Market Depth boxes just above the market are unchecked.

Select a Market

Wed, 23 Jan 2008 12:47:10 +0000

Whether backing or laying simply click the sport you wish to bet on in the left hand menu.

The Betfair Matrix (or Full Market View)

Tue, 22 Jan 2008 12:48:54 +0000

When you have selected a market you will be faced with a list of selections and matrix of numbers in different coloured boxes. This looks rather complex on the surface, but bear with us, it's not that tricky once it's explained properly.

Place a bet

Mon, 21 Jan 2008 12:50:20 +0000

To place a bet click on either back or lay next to the selection you are interested in. In the following example you are backing Tiger Woods at odds of 2.38 enter your chosen stake (minimum £2) and your potential profit is displayed in the bet slip on the right.

Matched and Unmatched Bets

Sun, 20 Jan 2008 12:57:25 +0000

For a bet to be struck, it must be matched with another customer, someone who has an opposing opinion.

Asking for a price

Sat, 19 Jan 2008 13:20:17 +0000

At Betfair, we try to match up punters with different opinions. One bets on an outcome to happen (backing), one bets on an outcome not to happen (laying). Think of it just like buying and selling property. The buyer offers one price, the seller might ask for a higher one. But there will be more than two people bidding on the market.