Since it’s foundation in June 2000, the Betfair betting exchange has become the world’s largest internet based betting exchange. Based out of London in the UK, Betfair have become the world’s leading betting exchange site thanks to a client base of over 2 million and a turnover estimated at around £50,000,000 per week.

Why has Betfair experienced the huge growth that it has in less than ten years? Simply that the company runs as a betting exchange, eliminating the need for a bookmaker in the traditional sense. The betting exchange allows gamblers to make their bet at odds selected by other gamblers and as such, the odds selected are usually considerably better than those on offer in a local bookmaker’s, on average 15% better. Thus offering a much better return for your money!

In addition to this, a betting exchange allows punters to “lay” bets, taking on the role of the bookmaker and backing against the selection. This is where a punter will accept a bet from another gambler wishing to back a selection at a given odds. If the gamblers selection wins, you have to cover his winnings, however if his selection doesn’t win, then you get to keep his stake! This form of betting has become so popular with many Betfair customers that it has become a lucrative side business in itself for some, who have specifically designed software “robots” trawling the site on a daily basis looking for the best bets to back and most appealing markets in which to lay.

With such flexibility in the markets on offer, it is easy to see why the exchange has become the most popular betting exchange in the world and why the company is now spreading into markets across Europe. So appealing is the lure to gamblers that over half of the company’s new customers originate from outside of the United Kingdom.
Using the website is very simple. The interface is easy to follow and markets are easily searchable for the novice. As with any site, it is worth taking the time to get fully acquainted with what the site offers and how it works before leaping in with your money and backing and laying bets. Expertise, patience, intelligence and careful research are needed if you are to be a prudent and successful gambler on the site, but the reason Betfair is itself successful, is because their customers do precisely that.