Betfair

All questions about biggest betting market Betfair in this post (mistakes, questions/answers, help/guide).

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Betfair this account top up with this (ex Moneybookers)

I think you need to pres 'lay' on the team that you think is going to loose or think will end in a draw. i am not sure, please correct me if I'm wrong.

I don't think so, because then the coefficient would differ. I don't understand this back and lay principle 😁)

I can explain. 1X and 2X don't exist, because they are the same as BACK and LAY. I will try to explain is so everyone understand. If you think that the team will win, then you bet BACK with that coeff. that's shown in the blue field. If you think the team will lose, you choose LAY and on your right you'll see a window with a coeff. in a red field. Enter the amount, that you are betting on in case the team wouldn't win. This way you are a bookmaker yourself and you are letting others to bet. This means, if the team will win, you will have to pay based on the coeff. that chose in case the team would win. If the team will win or the game will end in a draw, you will win.

Ok, I will try to give an example. Let's say Bolton and Birmingham match is today.
You think that Bolton will win. You bet BACK with 2,18 coeff.
If you think Bolton will lose (X2). Press LAY (coeff. 2,2) and enter an amount. On your left you will see your possible wins and then you'll understand everything.
Let's say you suggest to bet 100 euros, that Bolton will lose. If they win you will have to pay 120 euros. If they lose, you will win 100 euros. Of course, you have to have enough money in your account to make the payment if you lose.
You can ask for a bigger coeff.
I think I explained everything. If you have any questions - ask.

If you want to try, first write everything on a paper. Then it will get more obvious. Minimal amount to bet is 4 euros. I bet on Betfaire and I like it. There you don't have to be afraid of limitations, especially if you bet big sums of money. You have to pay 5 % of your win, but I think this is completely normal.

Ok, so let's move to Betfair, because the feedback is really good and they are working a lot on the betting. I have to choose Betfair, because other bookmakers limited my so called business 😁
I only bet on tennis and I only choose live.
I transfered a few euros to my Betfair account just to try and to see but so far I am not doing very well. It is hard to understand how it works. Especially BACK and LAY principles...

Australian Licence Wallet - maybe anyone knows what is this and why there's a different account? How do I make it work? I couldn't bet last week, I want to bet as soon as possible so who knows how to fix it?

I've been betting on Betfaire quite a lot recently. I want to look at the odds that make the biggest profit, to see profit graphs and so on. Does anyone know a program that can do that?

This is a serious firm but there's so little information about it. Does anybody know how to sort out Identity Verification Process (KYC) documents? I have never encountered similar problems. I send them a copy of my drivers license, telephone bill, bank card, but it's not enough. if somebody has done that, please help me. Thank you.

I suggest to contact the support or send the required copies by post.

If anybody doesn't know, Betfair suggest registration scheme as follows: €20 FREE BET + €1,000 CASHBACK. All of the conditions: promotions-betfair-com/eu-exchange-20nlcb-terms" target="_blank

Maybe someone recently verified identity?? It's really true that you need lawyers signatures, stamps and etc?

If you dont think to play in Australian and New Zealandian leagues, then you dont need any additionals approval. Just need to upload id card, later they can ask you skrill or address verification which one you could easily get in your bank

Facts about BETFAIR:

1. Betfair is the world’s largest international online sports betting provider.
2. Betfair’s betting exchange processes more than 5 million transactions a day.
3. The Betfair exchange processes 99.9% of its transactions in under a second.
4. Betfair has over three million registered customers, using a website offered in 17 different languages.

What is ‘CASH OUT’? Why do we need it?

Cash out is a BETFAIR function that allows you to lock in a profit or loss before waiting for the event to finish.

How to transfer money to my account?

after you are logged into your Betfair account, click on the “deposit” button found at the top right hand side of our home page. Select one of the possible deposit methods and proceed by entering the amount and your password, that's all.

What are "net deposits"?

Net deposits are the difference between 'all deposits' and 'all Withdrawals' by any payment method.

You can calculate it: 'all deposits' – 'all withdrawals' = 'net deposits'.