Betfair is not excatly an bookmakers but an betting exchange. That means you don't bet against the bookmakers but against an other player. The bid advantage of this is that the offered odds are very high since there is no
rake. If you prefer to combine many matches than you have the opportunity to do that by selecting the fixed odds Betfair offers to their clients.
Easy procedure, 2-3 minutes. You can choose up to 16 languages for your account setup.
When entering the site, a window pops up and you need to fill in the usual personal information (name, email, phone, etc.).
You are able to choose your username and a password with alphanumeric characters and choose one of their 10 currencies available.
If wanted, you can close the pop up window in the end without make a deposit and you are already logged in.
A welcome email with your username is sent afterwards to your email. You can also limit how much do you want to set for deposits and losses per day, week or month.
A lost/forgotten password can be asked by entering the details used for opening the account (including 2 security questions).
Betfair offer to their customers many payment offers. The famoust deposit and withdrawal offers are bank transfer, Skrill, Neteller, credit cards, debit cards, paysafecard
Betting exchange odds
As a betting exchange, odds are made by customers and not by Betfair, they only set up the markets.
In bigger events such as Champions League or tennis you can have very good odds, mostly better than the bookies' ones.
You can see the amounts of money offered to back or lay so you know if your bet is going to be matched or not.
In some live events such as tennis or horse racing the odds can fluctuate so often you can make profit from every selection you choose.
This is the best thing about betting exchanges, you can do trading or lay a selection you think isn't going to win.
Remember that all the winnings are subject to a commission of 5% maximum, you have the option to see the net profit if you want. No commission is asked in losses.
Soccer, tennis, horse racing, greyhounds, financial bets, basket, and so on.
There's is a problem in a betting exchange, you can't make the usual combinations you make as in a bookmaker.
In the most known soccer leagues and US sports, they offer some combinations but if you are a gambler of big odds in a combo, don't use it.
Betfair is better used for trading in simple bets.
If an event is showed on TV by a reliable feed and if customers require for a market, they analyze the request and answer if they'll set up a market for that event or not.