Can anyone tell me how the website betfair works?

Question

if for example you are looking at backing a horse do you have to match the layers price to place a bet?

say for example the backers price is 9.5 and current layers price is 12 do you have to match the 12 to back the horse?

im confused help!!!

Answer 1

u bet

Answer 2

Back works like in normal site.

Lay is like betting against. That means if you lay me to win then you win if I lose. Its like you are the bookie and you accept my bet.

Also you can read detailed explanation about Betfait ar http://www.bettingwise.com/betfairsports...

Answer 3

The price on the left is that which is available to bet at at that exact moment, the price on the right is that which people are trying to have matched by the layers.

Your second question: you are confused, this situation could not arise,  if a backer is asking for 9.5 then the 12 that the layer is offering would be snapped up and the backer would get the 12 on offer.  Make sense?

Answer 4

The backers is odds are 12.0... the layers price is 9.5

You can back the horse at what is available (9.5) or ask for bigger odds (12.0) and wait and see if a layer will take it.

The best way to make money would be to the take 12.0 and then lay the horse during running (provided it runs well or up with the pace) you should be able to lay it at shorter odds. Front runners are ideal for these type of bets as they normally shorten during running.