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14-08-2014, 21:17   #1
Hollister11
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Join Date: Feb 2014
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How to use bet fair ?

Just a question on how to use bet fair.

It looks to good to be true.
You can choose your odds when backing so say I bet a fiver on Liverpool on Sunday and chose odds of 100 and it wins I win 500. Is that how it works

Surely that can't be right ?
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14-08-2014, 21:43   #2
whiteshorts
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Please share with us where you are seeing Liverpool to win the match at 100?

Betfair is like a bookie when you want to back and you are the bookie when you want to lay.
You pay a commission when you win (Normally 5%) and nothing when you lose (Betfair get the commission from the winner).
Just remember it's digital odds so subtract 1 from the price to get the fractional odds i.e. 4 is 3/1, 2.5 is 6/4 etc.
Liverpools odds v Southampton are 1.36-1.37 so that means you can back Liverpool at 1.36 (place 100, win 36 if they win or lose 100 if they don't) or lay them at 1.37 (if they win you lose 37 or if they don't win you win 100).
Normal bookies are around 1/3 or 1.3333.
You can also cash out during the game.
Betfair have some online videos on how to use it, you should have a look at them before starting so you fully understand it.
Good luck with it.
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15-08-2014, 21:34   #3
themacman
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Quote:
Originally Posted by Hollister11 View Post
Just a question on how to use bet fair.

It looks to good to be true.
You can choose your odds when backing so say I bet a fiver on Liverpool on Sunday and chose odds of 100 and it wins I win 500. Is that how it works

Surely that can't be right ?
That´s essentially how it works. But your bet has to be "matched", meaning another punter has to accept your bet of a fiver at 100. This obviously won´t happen, especially when there is another guy out there looking to get matched at 1.55 (or whatever).
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