Why use Betfair ?

* You can bet that an outcome will happen (back) or that it won't happen (LAY).
* You can choose the odds you want to play at
* You can bet whilst the game is in play.

Back or lay

When you "back" a selection (be it an individual, a team, horse, dog or other), you are betting that it will win. This is just like betting with conventional bookies.

When you "lay" it, you are betting against it winning. For example, if you're betting in a market on which team is going to win the Premiership and you lay Man Utd, you offer odds to other punters who wish to back Man Utd. If Man Utd don't win, then you pick up the backer's stake. If Man Utd wins, then you pay out. This is what bookmakers traditionally do.

You never know who you are betting against, your privacy and the confidentiality of your bets is maintained by Betfair 's secure site.

Choose odds

With Betfair there is always a choice of what odds to accept. If you want better odds than are currently available, you can place an order for a better price, but be realistic because there has to be somebody prepared to lay the bet at those odds, and vice versa.

Take a look at the odds before a game and you will see them change as visitors back and lay their bets. The odds often improve nearer to the off, as there are more people in the market.