Explanations about beftair betting exchange

The betting exchange is a market of sports betting where users are trading bets at odds set by themselves.

It is possible to buy (BACK : for the selection) and sell (LAY : against the selection).

The LAY permit to put themselves in the situation of bookmaker, which is specific to betting exchange.

Another advantage of this system is that the commissions levied by the platform of trading is inferior than classics bookmakers who take margin on each odds proposed on their sites.

You can see on this page, all the advantages to playing on Easysportbet against a bookmaker like Bet365 in example : http://easysportbet.co.uk/benefits/

Some formulas :

PROFIT of BACK = STAKE x (ODDS – 1)

LOSS of BACK = STAKE

PROFIT of LAY = STAKE

LOSS of LAY = STAKEx (ODDS – 1)

Level profit of trade (BACK / LAY) :

GROSS PROFIT of trade = opening STAKE x ( opening ODDS – closing ODDS ) / closing ODDS

Example, you make a BACK of 100€ at the odds of @4.00

The closure when odds fell to @ 1.60 gives 150€ of net profit.

100€ x (4.00 – 1.60) / 1.60

Propositions BACK or LAY :

A unmatched bet, that is to say not exchanged immediately, stays in proposition.

It’s possible to cancel it with manual action of the user directly, or with an automatic cancellation of Betfair following a SUSPENDED for example (after a goal, a red card, …).

Beware, some bets may not be canceled automatically by Betfair: these are bets launched with persistence “KEEP BETS”.

In this case of a bet with persistence “K” (keep bets), only the manual action of the player to cancel the proposal is possible.