Betfair questions thanks alot?

We were all new to Bet Angel once. Ask any question you like here and fellow forum members promise not to laugh. Betfair trading made simple.
Post Reply
GeorgeStevens
Posts: 1
Joined: Sun Jan 17, 2021 10:33 pm

How does betfair make money?

commision of every winning bet a %

Also how does the lay option work someone lays at 3.5 a 1000 and they have to pay out 3.5k if it wins

how does this work do betfair keep alot of the %

If a 10000 people are backing one team how does betfair spread the money amongts the 10000s

and how do they make money

sorry about the questions but cannot find this info anywhere
User avatar
Dallas
Posts: 22674
Joined: Sun Aug 09, 2015 10:57 pm
Location: Working From Home

Betfair charge 5% from anyone who profits in a market (they have introduced some new commission structures but to keep things simple here the default one is the original of 5%)

If you layed £3.50 @ 1000 and that horse lost you'd make £3.50 - 5% (17p)
So you'd get your £3.50 back plus £3.33 in winnings and Betfair would make 17p from you on that market

If you are profitable long term you will become eligible for something called Premium Charge (PC), which is basically higher commission rate for long term winners which is paid on a weekly basis.

On an exchange you are betting against other people all over the world and anyone can ask for a price with their bet or take the current price being offered by someone else. If more people want to back something the price will end up going down, and if more want to lay something the price will go up.
Post Reply

Return to “Bet Angel for newbies / Getting started”