Exchange Betting

[Joleg]

For those of us, myself included, is there an idiots guide to exchange betting?

I frequently read of 'fancy' prices that some of you are getting and get a little envious.

For example, how does it work, is there a minimum stake? can you do each way? how oes the money get paid from one to another?

Sorry if this is racing basics but i have no idea, and would like to/

Surely im not on my own

[Kevloaf]

For those of us, myself included, is there an idiots guide to exchange betting?

I frequently read of 'fancy' prices that some of you are getting and get a little envious.

For example, how does it work, is there a minimum stake? can you do each way? how oes the money get paid from one to another?

Sorry if this is racing basics but i have no idea, and would like to/

Surely im not on my own

To be fair matey, the video on here isn't that bad as a starting point?

https://betting.betfair.com/video-how-to/

[Kevloaf]

A few quick answers.... miniumum stake is £2.00

You have "win only" or "place" markets, so no you can't back 'each way' but you can back either outcome...

You don't actually ever know who is taking your bet... it's essentially just 'the Exchange' as far as you'd ever be aware.

[ComplyOrDie]

And always worth considering the commission you have to pay on your profit, which go to Betfair.

[jack1092]

And always worth considering the commission you have to pay on your profit, which go to Betfair.

Exactly. Now i don't bet big on the exchanges i tend to use it for bigger priced horses but when i noticed the Betfair commission i paid over a year on the profit i near fainted.

[Istabraq]

To be fair commission is 2% if you choose the basic package, more of you want those crackhead wheel spins and free £5 football accas.
There are two big advantages with the exchanges, firstly there’s complete anonymity, and secondly there’s no maximum stakes or referrals so if you want to hit something you can without fear of getting shut down.
Sad reality of modern day punting forces us to the exchanges...

[jack1092]

To be fair commission is 2% if you choose the basic package, more of you want those crackhead wheel spins and free £5 football accas.
There are two big advantages with the exchanges, firstly there’s complete anonymity, and secondly there’s no maximum stakes or referrals so if you want to hit something you can without fear of getting shut down.
Sad reality of modern day punting forces us to the exchanges...

How do you "choose"? I don't remember being offered a choice lol

[Kevloaf]

How do you "choose"? I don't remember being offered a choice lol

I think it's a fairly new thing.

I'm going to dabble much more with the exchanges next season, I think.

[ComplyOrDie]

I think it's a fairly new thing.

I'm going to dabble much more with the exchanges next season, I think.

Yeah it is relatively new Kev.

I haven't picked as of yet (as haven't been in a position to play as much this season), and think it's set to a default until you do.

[Ribocco]

It is possible to back each way.

[Kevloaf]

It is possible to back each way.

Is it?

Ive not seen that? Does it just fo the win and place part for you?

[Ribocco]

Is it?

Ive not seen that? Does it just fo the win and place part for you?

Click on any race today that has enough runners (obviously) and you will see an each way market.

[Istabraq]

The each way market is very useful on betfair because in 5/8/16 runner races you get 2/3/4 places regardless of whether there are any non runners, of course there is a rule 4 and the odds reduce for the new market but crucially you retain the full places...