Australian Betting Exchange
background image
 
YOUR BETFAIR PUNTERS' GUIDE
 
3. BACKING A SELECTION
Backing a selection on Betfair is just like
placing a bet at the TAB or with conventional
bookmakers. But with Betfair, you bet against
other punters, not a bookie, and you select the
odds you want to bet at. Fixed odds betting
applies to all Betfair markets, unlike the TAB.
BETTING EXAMPLE
You think the Aussies have a great chance of
winning the Third Test at the SCG. The odds
quoted by your local TAB are $1.30, but with
Betfair you can get the better odds of $1.44. It's
an easy choice ­ you take the Betfair odds.
Your stake is $100. Australia wins the Third Test,
and your return is $144 ­ that's $44 in profit
(less the commission charged by Betfair) plus
your original $100 stake. If you had placed the
bet with the TAB, your return would have been
$30 less (excluding commission).
Find your market
All betting markets are listed in the menu on the left-hand side of
the Betfair sports homepage. The most popular markets are listed in
the middle of the page. Click on the market you want to bet on, then
follow the links to the relevant event.
Find your selection
After finding your market, you will see all the available selections
listed on the page. To back a selection, look at the blue box to the
right of the selection you are interested in. The top number in bold
(eg. $3.05) represents the best odds available; the bottom number
(eg. $100) is the maximum amount of money that can be bet on that
selection at that price at that point in time.
STEP-BY-STEP GUIDE
1
2
background image
BETTING
AS IT SHOULD BE.
P6
Pick your selection
If you want to back the selection, click the blue box. Your bet
(selection and odds) appears on the right-hand side of the page in
the Place Bets section.
Choose your stake
Click the Your Stake box in the Place Bets section. Enter your stake
(the money you want to bet on this selection) in this box. The
amount of money you will win if your selection is successful appears
in the Your Profit section.
5
Submit your bet
If you are happy with your selection, click Submit at the bottom of
the right-hand side of the page. The liability on this bet (the amount
of money you risk losing) is listed above the Submit button.
6
Confirm your bet
A confirmation screen appears on the right-hand side of the page
with the details of your bet. The My Bets option is only available
when the bet is active. To verify your bet, click Yes at the bottom
of the page. Check the confirmation to make sure your bet has
been placed.
3
4
STATEMENTS
Please note that your stake (or liability if laying) on a winning bet is not taken from your account. In other words, if you back a
winning selection at odds of 3.0 with a stake of $10, your profit will be $20 (less commission). Accordingly, your statement shows this as a $20 winner.
BETTING
AS IT SHOULD BE.
P8
Pick your selection
If you want to lay a selection, click the pink box. Your bet ­ the
selection you are betting against ­ appears on the right-hand side of
the page in the Place Bets section, alongside the backer's odds.
Choose the backer's stake
Now it's time to decide the stake you will accept on your selection
from another punter. Click the Backer's Stake box in the Place Bets
section. Enter the stake you want to accept in this box. The liability
on this bet ­ the amount of money you will have to pay out if the
selection wins ­ appears on the far right-hand side of the screen.
Submit your bet
Once you are happy with your selection, click Submit
at the bottom of the right-hand side of the page.
Confirm your bet
A confirmation screen will appear on the right-hand side of the page,
detailing your bet, and explaining how much you will win or lose.
To verify your bet, click Yes at the bottom of the page. Check the
confirmation to make sure your bet has been placed.
3
4
5
6
MAXIMUM LOSS
You will never be able to lose more money than you have in your account, but be aware the amount you lay isn't the maximum
amount you can lose. In reality, it's much more. To take precautions against this, it is possible to set a maximum amount of money to risk in a
designated time period.