You will have a choice as a customer of Betfair, those choices are whether to place your bets and wagers using the online betting platform, in much the same way that you would when using any other betting sites betting platform, of you can choose to make use of their betting exchange.
What a betting exchange offers you, if you have never come across one before, is a way for you to become a bookmaker yourself, by offering odds on any of the hundreds if not thousands of sporting events held at some point every single day of each week.
If you do want to take bets off other punters and offer them your own odds, then make no mistake about it Betfair have by far and away the largest customer base, so if your odds are appealing to other punters the exchange will match you up with plenty of punters who will take your odds.
However, you are not only able to lay bets off other punters, you can of course place bets in the normal way at Betfair, however thanks to the competition between all their layers being so huge, you will often get much bigger odds as a sports bettor when using the Betfair betting exchange!
Choose an Exclusive Welcome Bonus
As soon as you have got your head around what a betting exchange is, you will then probably be very eager to either start placing bets at Betfair or laying bets off other punters, and the value you will get by higher odds is remarkable.
However, as one of our top rated and approved betting site there is of course a sign up welcome bonus that you can make use of at Betfair, in fact it will be dependent on which of their betting platforms you wish to place best or lay bets at as to the value of that bonus offer.
As such, I would urge you to click onto any of the links for Betfair that you see dotted around our website, as that way you will then be presented with each of our current exclusive sign up bonus offers they are making available to our website visitors.
Using the Belfair Betting Exchange
I think the best course of action for you to get your head around the y in which the Betfair betting exchange has been designed and works is by you looking over their help section of their website, for they have some very comprehensive guides on how to use it.
In fact, they also have tutorial videos that are free to use and by watching them you will discover how you can quickly and very easily place a bet on their betting exchange and secure the odd you see available, and you will also learn how to lay best and offer your own odds on that betting platform too.
Keep in mind though that Betfair also have their own sportsbook too, however I feel you would be foolish to use that sportsbook when the betting exchange they have on offer does give you much better value and much higher odds than their sportsbook ever does!
Their online betting platforms as simple to make use of as I have explained above, much more so when you rea dup about them or watch those tutorial videos, but they do also have a mobile betting change app that you can download onto your mobile phone.
Just make sure that you can use that app easily, for if you can then it is going to open a whole new world of betting opportunities when you are out and about and not sat at home in front of your computer or laptop.
You do have to act quickly when using betting exchanges, much more so when using the Betfair betting exchange, for the odds that will be on offer are going to be changing second by second!
So, if you want to accept the odds you see you need to tap your mobile screen quickly or click on the bet or lay button just as quickly too when using their online betting platform, but you will enjoy using them once you have mastered them of that I am sure!
Online and Mobile Betting Markets
Betfair really have shaken up the way that you can bet these days, for if you do want to lay odds on any sporting event you can set your own set of odds and betting book and set forth becoming a bookie yourself, and by the way there are a lot of people doing so.
As you have found out from up above, there are going to be two main betting platforms available to you at Betfair the first being their betting change, and the other their more standard betting platform that is identical to those offered by all other sportsbooks and betting sites.
However, there is no need to use their standard betting platform for you are going to find the odds they will be offering on it do not compete with their betting exchange so that does beg the question why they launched it in the first place.
If you do decide to sign up to Betfair, then please heed my advice and only use their betting exchange as you will never get true value on their much standard betting platform, as you will see for yourself when you compare both platforms!
Legal and Safe Betting at Betfair
Being a company that offer their betting services, platforms and betting exchange to customers in many different parts of the world, one thing that Betfair has had to do is to get licenses to operate in each of those many different countries.
However, being the respected company, they are they have been able to acquire full gambling licenses easily and as such there will always be the chance that no matter where you live you are going to be able to sign up and place bets with them.
That does also mean that they are a multi-currency betting site and as such you can set your account to use the currency that is best suited to you, and you will then be able to deposit bet and withdraw your winnings in your own chosen currency.
There are still plenty of other reasons why you will always be best off betting at Betfair, and below I will continue to let you know what those benefits are, as this really is one of the biggest betting sites out there that comes very highly recommended as a site you can always trust!
Betfair Customer Support
There is something rather unique on offer at the Betfair website that you are not going to find at any other betting site and that is a community forum, and users of Betfair can exchange their ideas and suggestions and discuss any sports betting opportunities and even betting strategies.
However, that forum is so very busy you will often find that if you sign up to use it you are going to often get the answers to any questions from other users of the forum.
But even though the support team at Betfair are fairly on the ball and can at times, but not always, respond very quickly to any questions you may have, if you find they are busy then head on over to the forum as someone over there may be able to help you out.
In fact, you could also do a search on that forum to see if anyone else has ever asked the same question as you in the past, and if so then you will in the answers to those questions you may have, however the support team will get back to you eventually even if they are very busy when you initially contact them!
My Thoughts on the Betfair Sportsbook
The one thing that does and probably always will separate Betfair from all other betting companies is their hugely successful betting exchange, for whilst there are other ones available, none of them have the volume of bets placed on them each day as Betfair does.
In fact, Betfair does has a huge customer base and that customer base continues to grow year on year, and as their business model on that exchange is one whereby they take a commission from winning customers, your funds are always going to be safe when using their betting exchange,
When a bet is placed the stake is removed from that customers account when matched with a layer, and the potential pay-out that layer could be required to pay out is then also removed from their account, as soon as the result is known, the winner, that being the backer, or the layer gets paid out their winners less the Betfair commission.
That simple yet very effective method of paying out winner customers is hard to beat and ensure that no matter what happens you are always going to get paid out your winnings and in full, less of course the Betfair commission!