Betfair have been the pioneers in sports betting over the past few years,  By matching bets between people with opposing bets, Betfair is capable of offering 20%  higher odds percentage than many of the more traditional bookmakers. Bets placed with Betfair are done by customers who either want to back an event or selection to win, or lay an event or selection to lose.

The success of Betfair in the online market has been spectacular, pushing through more betting features, markets and betting possibilities than any other bookmaking business. It has been estimated that Betfair's interests could total ninety percent of all shares in the betting exchange market. When it comes to horse-racing, Betfair are unrivalled among their online peers, offering a vast array.

Betting "Back" enables customers to bet that a certain outcome will occur. A "lay" bet is in reference to betting on an outcome not occurring, allowing you to choose the odds. While the Betfair website offers beginners and experienced betting customers the chance to explore the new opportunities offered by laying bets, it also offers customers the chance to watch events while they happen.  

Betfair allows you to exchange your odds with fellow customers, as long as the event has not ended yet. This way, whatever the outcome of the event is, the customer can guarantee a profit by backing a selection at higher odds and laying the same selection at lower odds.