If It’s Betting Then It’s Betfair!

In this fast-paced world, everyone is in the race of earning little more money for their living.
At Betfair you can do that, a million users are into online betting business for making some money.

Yes, Betfair is the leading company in the world of online gambling. Betfair was founded in 2000 by Andrew Black and Edward Wray and their headquarters are located at Hammersmith in West London, United Kingdom, and Dublin, Clonskeagh. Sportsbook, online casino, online poker, and online bingo are also offered by Betfair. Within two years of its launch, the company was honored with the highest business awards and the founders of Betfair were winning the entrepreneur awards.

Betfair is the world's leading online betting exchange that offers a portfolio of gambling products and services globally, It was also listed on the London Stock Exchange. An English football team was sponsored by Betfair, it was the first betting company to sponsor them. Through its website Betfair launched its own Betfair Radio service in 2007, now it has become Timeform Radio which broadcasts horse racing commentary and results. In 2015, Paddy Power and Betfair had agreed on terms for a merger.
It also operates in some of the European countries like France, Italy, Germany, and Spain. Betfair Exchange also has live streaming and betting options like football, snooker, tennis, and horse racing, amongst many others. To access the live stream, you should have a funded account. Betfair Exchange can also be used on your mobile browser and Betfair Exchanges app.

Betfair commission and sides of bets

The logic behind the Betting exchange is similar to that of a stock exchange. Commission of the Betfair is calculated using MBR i.e Market base rate at 5 %. It charges the commission on all winning bets and it is possible to reduce the base rate according to the client.

Why customers bet on Betfair is that because the customer does not bet against a bookmaker, he bets against the other customer.
Betfair gets only income through the commission it charges on winning bets.

There are 2 sides of bets

1. Backers

Customers who think that the event will happen.
Example: Team A will win, then they back the bet

2. Layers

Customers those who think that the event will not happen
Example: Team A will not win, then they lay the bet

For example, the commission will be charged when you win a bet on the exchange.If you win 100 then you have to pay 5 commission, but if you lose you do not pay anything.

Commission rate can be reduced by earning more and more Betfair points. The more points the more discount you get on your commission. Many payment options are available at the Betfair Exchange. All banking methods are accepted including eWallets, debit cards, and prepaid vouchers. But it also charges a fee for using payment methods. Here the betting is against the people, online it means you can get better odds and many new options that were not there before in the betting industry. Here, betting services are better than that which traditional bookmakers offer.

To talk about the plus points of Betfair exchange betting, you are free to choose which odds to back. Exchange odds can offer more value. You can back and lay bets on Betfair exchange. But there are some drawbacks also like users can’t do multiple bets, users can financially go very low if they lose the bet and only the successful bettors have the chance to get the premium charges.

If the customer is new to trading on Betfair exchange, he will like to look for trading strategies. As it offers different ways to approach trading on sports. There are many strategies and approaches that customers can take with the betting exchanges.
Scalping is the best and simple Betfair trading strategy. When the customer back or lay on something and then he closes the trade for a guaranteed profit is known as Scalping.
Scalping is a low-reward,low-risk strategy. So here the customer is backing a price and then he sells that price for less than he paid. Lots of small trades are required to build a profit over time and it also requires self-control and discipline.
Under 2.5 Goals/First Goal, Lay the draw/back score draw, Selling winning bets during live play, and Lay the server on tennis are some of the other Betfair trading strategies.

What is a Betfair Holiday?

The total holiday weeks cannot exceed 4 when a customer doesn’t trade on the exchange, their Betfair Exchange Points total is decreased by 15% each week. In order to avoid it, the Betfair holiday feature lets you freeze your points for a week when you are not trading.

Every new customer receives one Betfair holiday automatically when they join and after that, an extra week is added for every 3 months, whereby taking Betfair holiday your points will be frozen for 1 week. If you trade during the Betfair holiday your points will not get added to your account because the Betfair Exchange Points are frozen.

Betfair Liquidity?

The Sum of money available for the customer to bet for the chosen event and odds is known as Betfair Liquidity. Liquidity rises as the number of people betting increases. If the major event is happening then the liquidity should be very high, so the betting is easier for the customer. Because the customer keeps on entering and leaving the market that’s why there is always an ups-down in the liquidity of betting exchanges.

What are Betfair Points?

When the user bets on the Betfair Exchange, he is rewarded with the points known as Betfair points. The more you bet on the Betfair Exchange, the more Betfair points are rewarded. The more points the user has the less commission he will pay because the commission is charged only on the winning bets.Every time when you bet on the Betfair Exchange market whatever the outcome is, you will earn 1 point for every 10 pence commission you paid.

Can you make money?

Yes, you can make money on Betfair but if you are new to the betting world it will be a little difficult. Once you start learning then yes it is possible for making a full- time living from Betfair.

What is Cashout in Betfair?

It's a product of Betfair which allows you to lock in a profit or loss before the event is over. Example - While the event is on and in between the user can cash out a part of his bet, while keeping a good profit on the bet. It offers you the value in real-time of your current bets based on the live market prices. if the liquidity is low in the market cash out is not available. When you make a successful cashout you will get the minimum amount because the cashout amount is not guaranteed as they are based upon the live market rates. As the rates are constantly moving you may receive more or less than indicated. So in this case the cash out may be successful or may not be successful. It’s calculated using the bet amount holdup and using the market price when the bet was placed and the market price while the cashout.

What are Demo tools and Betfair Historical Data?

For Accounts API and Betting, API demo tools are available for Betfair Exchange API.Developers can use demo tools with live Betfair API to allow quick experimentation. Demo tools are used because all existing API operations are available.
For API queries developers can easily experiment with the parameters.
Demo tools only interact directly with the Betfair API production system.

Historical Data is a service that provides time-stamped Betfair Exchange data for purchase and download to the Betfair customers. By using this they can access historical Betfair Exchange prices and market data and can also view the details of market settlements.

Who is a Software Vendor and are Vendor Services?

The one who is licensed by Betfair and develops the software application to the Betfair customers by using Betfair API is known as Software Vendor. Betfair API is used by software vendors to develop the betting applications which are sold to the Betfair customers. After developing the application he enables the Betfair Exchange on the website. Then he can also certify and promotes the application on the Betfair Application Directory. Vendor Services API are used for managing the subscriptions of the user and to monetize the application.

The two methods of Vendor Services are Vendor Services API and Vendor Web API. Vendors who provide the Betfair Exchange customers to access their software on a subscription-based system is known as Services API.Vendors who develop web applications using the Betfair API access for Betfair Exchange customers are known as Web API Service.

By using Vendor Services API, the Vendor can give permission to users to access the application and he has permission to set the specific date of expiry. Here you can also save the information for each of the subscriptions and can view historical and existing application subscriptions.

What is Betfair Application Programming Interface?

Betfair Exchange API, it’s a platform where the developers can build their own betting tools as per their requirements and interfaces for themselves or for the other customers of Betfair. By using Betfair Exchange API you can place bets, check current bet details, search for markets, betting history, and account statements. Geeks Toy, Hi-Lo, and Bet Angel Basic are software that helps you to do simple trading on the Betfair Exchange.

API is also available for the Global, Spanish and Italian Betfair Exchange. For every single Betfair account two App keys are assigned, live app key, and delayed app key for testing purposes. The application key is required to make a request to the Exchange API. There should be an Application key for using Betting and Accounts API. The application key identifies the API client.

As it’s illegal in India, they don’t provide API to India. But Betfair API support gives the API to India legally, so here the developers can develop their application for free of cost by using Betfair Exchange API.
BinaryBrics is one of the best Betfair API providers, it provides API to develop the betting applications as per the client requires. Betfair API is also used to develop independent agents or we can develop independent agents through Betfair API. It allows companies to access Betfair data. It also allows us to show Betfair odds like - live match odds, pre-event list, live casino, fancy market, live score, live streaming, and 24hrs support on their website. This Betfair API can be provided for individual sports also. Personal API and Commercial API are the two types of API, which are provided by Betfair API support. This API is an important requirement for the sports betting website to bring odds and their results and it's cheap and affordable.

The following are the steps for getting access to API

Obtain an SSOID token
Get your application Registered
Obtain your application key and the
Activate your application key

Few Benefits and Features of the Exchange API are

For development purposes, access to the Exchange API is free of cost. If the request is made through an Exchange API then there are no data request charges. It’s Lightweight protocol. We can get the data from multiple markets in one request. With a single request, we can get the details of bets and prices for matched and unmatched events. You can view virtual prices also.

Conclusion

Betfair Exchange is the best operator across the globe growing rapidly with millions of users. There are a lot more services and products which will be coming in future days. The website www.betfair.com, first get a bit of knowledge about the Betfair and then bet on the Betfair because the more you bet the more you earn. Before you bet do make sure that the betting operator of your choice is fully licensed. Yes, Betfair Exchange is licensed and regulated by the Malta Gaming Authority. So Be fair and Betfair!
Thank You!