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| Review Date : 10th Feb 2007 |
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Took over
Flutter.com business as of 17th January 2002.
There are some nice
ideas on this site, the layout is an attempt at using many small screens at
once to show a lot of information. Using a set of menus on the left you get
access to all the available markets from any screen you happen to be
in.
There is a huge amount of action in the horse racing market. Take
care not to be dazzled by higher than bookmaker prices as this market allows
punters to lay horses that they know cannot win. The prices in the racing
market are the most accurate (as opposed to bookmakers and others) for the odds
of the horses winning or losing.
There is some good thinking in creating
novel betting markets over events that aren't betting friendly. E.g Formula 1 -
here you can bet who wins a GP without the top two teams, or the make up of Car
Numbers or How Many Finishers etc.
For Racing fans there is a
"place" market, a place to back horses to come 1st, 2nd or 3rd. Fluid in action
in both win and place markets.
As with some of the other
sites, Betfair uses the decimal continental style of representing odds.
You have to know what back and lay mean but
once you've got them sorted out in your head its reasonably easy to understand
the betting screen.
There are also
 buttons next to each bet. Click on that and you will
get a chart showing price changes over time with volume. Gives you an idea of
what the market has been doing.
Commission
Betfair charges a Commission on
your net winnings on a market. If you have a net loss on a market you do not
pay commission. Commission is calculated by multiplying your net winnings by
the Market Base Rate, as shown on the Rules tab. From this we will apply a
discount. The more you bet with us the greater the discount you will
receive.
The size of this discount, or your Discount Rate, is determined
by the number of Betfair Points you have accrued on your account. Betfair
Points are earned in proportion to your betting activity - the more you bet,
the more points you accrue, the greater your Discount Rate. Please note that
your discount rate will be capped at 30% unless you have completed Betfair's
Know Your Customer check requirements.
You earn Betfair Points every
time you bet on a market. You will earn 1 point for every 10 pence of
commission paid (if you have net winnings) or implied commission (if you have a
net loss). Betfair Points are awarded equally whether you win or
lose.
Once your Discount Rate has been calculated, your Betfair Points
balance is reduced by 15%. This is known as the Weekly Decay. If you continue
to bet at the same level each week, your Discount Rate will remain unchanged.
If your Betfair Points at any time imply a higher Discount Rate, you will move
to that rate immediately. Discount Rates are applied at the time of market
settlement rather than bet placement. These might be different for you in long
term markets
DOWNSIDE
Is the size of commission. We need more
competition or regulation.
UPSIDE
After time this site has
become the top site for general person to person betting. It has high liquidity
an so you are likely to get the action you want. The software works well and
has nice features that may take a while to learn but are useful once you get
there.
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| Editor |
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| Summary |
Rating : 8½/10 |
No Freebies |
| Cut : 5% or less on net win |
Max Odds : Any |
Limits : Opening £25 |
| Based : London |
Tel : 0870 0110 444 |
info@betfair.com |
| The Sporting Exchange Limited was
founded in August 1999 by Andrew Black and Edward Wray |
| 14-16 Peterborough Road, London. SW6
3BN |
| Written correspondence to Betfair, PO
Box 30729, London, SW6 3FX, UK |
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