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What is the Betfair Exchange?

Date: 7th June 2017

The Betfair Exchange allows gamblers to bet against each other rather than against a bookmaker. This differentiates them from traditional betting shops and bookmakers as the betting exchange allows the user to act as the bookie by setting the odds for an event or the customer who bets using the odds set by the other user.

Whereas traditional bookmakers accept the risk of going head-to-head in various bets with gamblers, the business of a betting exchange does not involve any risk. The exchange simply provides the technology that pairs gamblers together in order for bets to take place, and takes a commission from the net winnings that result.

The introduction of betting exchanges opened up a vastly expanded range of betting options for gamblers, simply because people are willing to back bets that risk-averse bookmakers would not. The technology of betting exchanges allows users to instantly discover the people and the odds they are looking for in order to place the bets they want.

Other key differences in using a betting exchange is the option of lay betting, or backing a selection to lose. If a betting exchange can find someone willing to put a bet on the selection you wish to put a lay bet on, then your bet can take place.

Crucially, the prices at a betting exchange are determined by a free market, rather than being set by a bookmaker.

The emergence of online betting exchanges has caused a seismic shift in the way people gamble all over the world, creating exciting opportunities for gamblers who could never have existed before new technology was utilised in this way.

Check our Betfair Exchange Promo Code Free Bet Bonus Offers below

 


Betfair Exchange Promo Code Promo Code - £20 No Risk Cash Back

Betfair Exchange Promo Code Promo Code - £20 No Risk Cash Back

Updated: 01/10/2017

Latest Betfair Exchange Promo Code for a no risk Exchange bet is VAL225 for a £20 Free Betfair Exchange Bet Bonus plus up to a £1000 Cash Back, our exclusive promotion code for Betfair to use this month which enables you to claim £20 in a free no risk money back bet to use at Betfair Exchange using this bonus code offer. All you have to do is place a £20 bet within 7 days of registering your new Betfair account to claim today.

Open your new account using promo code VAL225 from the Betfair Exchange Promotion links or banners on this page place a bet of £20 or more in your first bet on the Exchange If the bet loses Betfairrefund you £20 in Cash. That's a totally No Risk No Lose Betfair Promo Code Bonus Offer for the Exchange..

£20 No Risk Cash Back

Please Note: Betfair Promo Codes are automatically entered into the 'Promo code/Referral code' box & are only valid when joining from our banners & links


> Read more... Betfair Exchange Promo Code £20 No Risk Cash Back



The Success of Betfair Exchange

Perhaps unsurprisingly, betting exchanges have proved to be hugely popular with gamblers who seek a broader range of betting options and a wider variety of odds.

While there are many who prefer the traditional, favourite/long-shot style of bookmaking, and are happy to bet against a bookie in an attempt to overcome the odds and win, a 'new breed' of gambler has grown as the popularity of betting exchanges has spread around the world.

The role of Betfair in the rise of betting exchanges has been crucial. Dubbed "the greatest success story in the history of gambling", given its meteoric rise in what seemed like an unfeasibly short space of time, Betfair is now one of the most visited, most talked about betting sites in the world.

By allowing online gamblers to place lay bets for the first time, Betfair caused ripples that were felt throughout the gambling world, with bookmakers everywhere being forced to re-assess the way they operate in order to respond to the new proposition that had been made available to their customers.

Seemingly everyone connected to the world of gambling has an opinion on the rise of Betfair and other betting exchanges, for the simple reason that they have reshaped the industry.

Whilst thousands upon thousands of gamblers and commentators alike have embraced the new landscape of betting that Betfair has helped to bring about, there are still those who cling to the memory of a time before online betting was bigger than high street betting, and the idea of a betting exchange seemed a far-flung prospect.

But the evolution of betting exchanges and the online betting industry as a whole continues apace.

How the Betfair Exchange Works

The history of the betting market had been built around the 'favourite/long-shot' bias. Bookmakers were traditionally risk averse, and they typically knew a lot more about the markets they offered than the punters betting on them.

But the betting exchange changed all that. For the first time, anyone wishing to place a bet could carefully identify misperceptions of probability, and then benefit by removing or mitigating those misperceptions.

In simple terms, the betting exchange offered betting without bookies. Rather than being limited to the odds offered by bookmakers, and being limited to making only 'place bets' that backed a winner of an event, betting exchanges allowed punters to go head-to-head against each other and create their own markets.

The launch of the exchange meant that, for the first time, if you could find someone willing to bet against something that you were willing to back, then the exchange facilitated the market and allowed your bet to take place.

For over 15 years, customers have been doing just that. Week in, week out, across all manner of sporting events, visitors to online betting exchanges have been posting their own odds and the amount of money they are willing to accept in wagers. Other customers then bet on the market at the posted price, and the bets are matched.

Betfair brought a refreshing change from traditional bookmakers, which often left customers feeling as though their chances of success were low, and they were betting against a giant, faceless fountain of knowledge that could not be defeated.

The Betfair forum was testament to the vibrant culture that quickly sprung up around the site. Customers experienced a spirit of camaraderie, which only grew stronger when some traditional bookmakers spoke out against the rise of Betfair.

When any industry is shaken up by a dazzling new idea, there is bound to be a reaction. When that industry is as large and widespread as the betting industry is, the reaction is like an earthquake.

From its very earliest days, betting exchanges have been met with questions and doubts, mainly from bookmakers who aren't able to offer a competitive range of betting options and flexibility to their customers since the likes of Betfair arrived on the scene.

Betfair has always dealt with these questions in an open, transparent way, in keeping with the business approach that has underpinned Andrew Black's work from the beginning. It was his vision to create a betting website that brought more fairness to customers, and communicating openly and honestly has always been a key part of the ethos.

As well as bringing this openness and the sharing of ideas to the betting industry, Betfair contributes to fairness through a system called Bet Monitor.

With more than six billion transactions taking place each year on Betfair, sophisticated technology is required to ensure that everything that takes place on the site is above board and in line with gambling industry regulations.

To detect instances where wagers might have been placed with an unfair advantage, Betfair employs more than 400 people in its software development department, carrying out intensive work to continuously improve the integrity of its systems and security protocols.

Betfair has created integrity memorandums with sporting organisations, so that information about the betting exchange is freely available to those who need to access it. It is this open and transparent approach that enables Betfair to best protect its customers, and it is that protection that has made it one of the most popular, successful betting sites in history.

Betfair Exchange Popularity

In 2001, Betfair merged with Flutter.com to bring the power of the betting exchange to a wider audience, and a year later the company was thriving. Bert and Ed were named the Ernst and Young Entrepreneurs of the Year in 2002, and a move to the company's new offices in Hammersmith, London, was coupled with a lucrative shirt sponsorship deal with Fulham Football Club in the Premier League.

Betfair was finally on the map in a big way, and the popularity of the site began to spread its reputation around the world. In 2003, Betfair won the Queen's Award for Enterprise on the recommendation of the Prime Minister, and as gamblers around the world sought the freedom and fairness that Betfair had brought to the UK, the Betfair website was translated into German, Danish, Chinese, Finnish, Norwegian, Italian, Greek, and Swedish.

Maintaining its commitment to customer protection, Betfair also signed a training initiative with Gamcare - the charity that works hard to promote responsible gambling and identifies areas where people might fall into difficulty.

By 2006, Betfair's betting exchange was operating in 18 countries across the world, including Australia, France, Bulgaria and the Czech Republic, and sponsorship of events like the St Leger and the Grand National helped the site to become one of the most recognised names in sports betting.

Having hit the milestone of more than three million customers by 2010, Betfair listed on the London stock exchange, in a move hailed as "an important landmark" by Ed Wray.

Since then, the site's success has continued throughout the emergence of mobile betting technology, with more than £1 billion of bets placed on Betfair mobile in 2011 alone.

The final piece of the jigsaw was slotted into place in 2013, when Betfair obtained its first gaming license in the USA, and launched its first sportsbook, giving customers the option to bet in the traditional way as well as via the hugely popular betting exchange, which changed the betting world for good.

UK Government statistics in 2011 showed that betting exchanges yielded one fifth of the gross gambling yield in the country. Since then, betting exchanges have become better understood by gambling communities on the web, and a wealth of resources now exists for anyone wishing to try their hand at a betting exchange to utilise.

Betting exchanges are becoming an increasingly integral part of the global gambling landscape, in many cases offering customers much better odds, more transparency, and an experience that feels intuitively fairer.

Mobile gambling apps have only added to the appeal of the betting exchange, by delivering updates on available markets and odds directly to people's pockets, making it easier than ever to take advantage of the features of betting exchanges.

Still a relatively new development in the betting industry as a whole, online betting exchanges will continue to be the subject of some discussion and debate for a few years yet.

But one thing is clear, online betting exchanges are here to stay.


Betfair Exchange Promo Code Promo Code - Up To £250 CashBack Refund

Betfair Exchange Promo Code Promo Code - Up To £250 CashBack Refund

Updated: 01/10/2017

Betfair Promo Code for Exchange Bets with enhanced odds no risk. Use our Betfair Promotion Code bonus of £250 Cashback on Exchange Bets. Betfair will refund you 25% of you betting losses across your first 30 days of joining and betting.

Open a new account using promo code EXC25L which is only valid by clicking from the links on this page to take you directly to the exclusive promo code bonus offer landing page at Betfair Exchange.

Any Betfair Exchange bet that is placed and settled within the 30 days following registration will count towards the promotion. E.g if you registered on the 1st of October, the last day will be the 29th of October.

Exclusive offers are released daily by Betfair Exchange for a wide range of top sporting matches and events. We update our offers on a daily basis to ensure all the best Betfair Joining Offers are made available to you.

Get the best odds on all sports market betting using the latest Oct 2017 Betfair Exchange Promo Code, our exclusive promotion code for Betfair to use which enables you to claim enhanced odds plus up to £250 in free bets money back if your bet loses to use at Betfair Exchange when joining today.

Up To £250 CashBack Refund

Please Note: Betfair Promo Codes are automatically entered into the 'Promo code/Referral code' box & are only valid when joining from our banners & links


> Read more... Betfair Exchange Promo Code Up To £250 CashBack Refund


Betfair Exchange Promo Code Promo Code - 0% Commission up to £50

Betfair Exchange Promo Code Promo Code - 0% Commission up to £50

Updated: 01/10/2017

The latest Betfair Exchange Promo Code for a commission free £50 bonus offer when joining Betfair is EXCCOF. Bet on the Betfair Exchange and any commission paid within the first 30 days will be refunded in cash, up to a max of £50. Refunds occur every Wednesday based upon the activity carried out during the 7 days prior. Only deposits made using Cards/Paypal will qualify. See below for full terms and conditions.

Betfair Exchange Promo Code Instruction - Commission Free £50 Bonus Offer

The offer is only open to new customers that sign up using promo code EXCCOF by clicking directly from the link on this page to join Betfair Exchange. You can only take part in this offer if you are not an existing or a previous Betfair account holder. This offer is only available to accounts registered in any of the following countries: UK and Rep of Ireland.

What do I need to do?

Bet on the Betfair Exchange and any commission paid within the first 30 days will be refunded in cash, up to a maximum of £50 . The commission will be reimbursed every Wednesday based on the activity carried out during the seven days prior to 23:59:59 Tuesday. When the total commission refund reaches £50 , no other refund payment will be made as part of this promotion.

What do I need to know?

Promotion is only available to customers depositing using Card or Pay Pal. You will receive Betfair Points in all qualifying markets, regardless of any refund payments made. Betfair will endeavour to credit your account within 48 hours after your eligible bet has been settled.

0% Commission up to £50

Please Note: Betfair Promo Codes are automatically entered into the 'Promo code/Referral code' box & are only valid when joining from our banners & links


> Read more... Betfair Exchange Promo Code 0% Commission up to £50


Betfair Exchange Promo Code Promo Code - 20% Boost up to $500 Bonus

Betfair Exchange Promo Code Promo Code - 20% Boost up to $500 Bonus

Updated: 09/10/2017 - Ends //

Latest Betfair Exchange Promo Code for new customers in Australia to get a 20% winning boost up to $500 on all winning markets in your first 7 days credited to your account after your 7th day with our Betfair Promotion Code to use at Betfair Exchange Australia

Unlike Bookies, Winners are wanted at the Betfair Australian Exchange. Betfair will teach you how to BetSmart with The Hub, from beginner to expert, Betfair give you the tools to become a successful punter. This offer is open to punters in Australia and New Zealand residents, except for those located in VIC, NSW, SA and WA. 

How do I use this Betfair Promo Code for a Betfair Exchange Australia?

After registering using this valid promotional code by clicking directly the the promotion bonus offer page at Betfair, Betfair will provide a 20% boost on your profits on any markets settled (before commission) for a duration of 7 days after registration, up to a maximum of AUD$500 (in total). The maximum credit an eligible individual customer will receive for this Promotion is AUD$500 in total.

20% Boost up to $500 Bonus

Please Note: Betfair Promo Codes are automatically entered into the 'Promo code/Referral code' box & are only valid when joining from our banners & links


> Read more... Betfair Exchange Promo Code 20% Boost up to $500 Bonus


Betfair Exchange Promo Code Promo Code - £20 No Risk Free Bet

Betfair Exchange Promo Code Promo Code - £20 No Risk Free Bet

Updated: 01/10/2017

Latest Betfair Promo Code for a £20 No Risk Free Bet Bonus offer plus up to a £1000 CashBack with our Betfair Promotion Code to use at Betfair Exchange.

The offer is only open to new customers that sign up using promo code VAL222. You can only take part in this offer if you are not an existing or a previous Betfair account holder. This offer is not available to accounts registered in any of the following countries - Armenia,Portugal, Bulgaria, India, Belarus, Chile, Croatia, Hungary, Latvia, Macedonia, Moldova, Poland, Romania, Russia, Serbia, Slovenia, Tunisia, Ukraine.

How do I use this Betfair Promo Code for a Betfair Exchange Free Bet Bonus?

The first Exchange bet you place within 7 days of registering your new Betfair account must risk at least £20 . Your bet must settle in this period too. If your first bet in this period risks less than £20 , you won't be able to benefit from this promotion. Unmatched, unsettled or voided bets will not count towards this promotion. Only deposits made using Cards/Paypal will qualify for the promotion.

What do I get with this Promo Code for Betfair Exchange?

If you place a qualifying bet as set out above, and that bet loses, we will refund you £20 . In the event that two qualifying bets are placed at the same time, the first bet to settle will be your qualifying bet. In the event that your qualifying bet wins, there will be no credit to your account. We'll aim to credit your account within 72 hours of your qualifying bet being settled.

£20 No Risk Free Bet

Please Note: Betfair Promo Codes are automatically entered into the 'Promo code/Referral code' box & are only valid when joining from our banners & links


> Read more... Betfair Exchange Promo Code £20 No Risk Free Bet


Betfair Exchange Promo Code Promo Code - £20 No Risk Bet

Betfair Exchange Promo Code Promo Code - £20 No Risk Bet

Updated: 01/10/2017

The latest Betfair Exchange Promo Code is FWB000 for a £/€20 Free No Risk Betfair Exchange Bet Bonus plus up to a £1000 Cash Back, our exclusive promotion code for Betfair to use this month which enables you to claim £/€20 in a free no risk money back bet to use at Betfair Exchange using this bonus code offer. All you have to do is place a £/€20 bet within 7 days of registering your new Betfair account to claim today.

1. Join Betfair Exchange

Open your new Betfair Exchange account using Betfair Promo Code FWB000 from our exclusive Betfair Exchange banners and claim buttons. Clicking from our exclusive links will automatically enter the Promo Code in Betfair's registration page to ensure your bonus.

2. Place A Bet At Betfair Exchange

Place a £/€20 bet within 7 days of registering your new Betfair Exchange account.

3. Betfair Exchange Bonus

If you place a qualifying, and that bet loses, Betfair Exchange will refund you £20.

This offer is not available to accounts registered in any of the following countries:

Romania, Belarus, Chile, Armenia, Croatia, Hungary, Latvia, Macedonia, Moldova, Poland, Russia, Serbia, Slovenia, Tunisia, Ukraine, Montenegro.

For new Bet Customers residing in Brazil and Denmark:

Brazil - Bet $30 Get $30 Free Bet - Click to claim FWB105 Promo Code

Denmark - 350 KR No Risk Bet - Click to claim FEO218 Promo Code

£20 No Risk Bet

Please Note: Betfair Promo Codes are automatically entered into the 'Promo code/Referral code' box & are only valid when joining from our banners & links


> Read more... Betfair Exchange Promo Code £20 No Risk Bet


Pre October 2017 Betfair Exchange Promo Code Promotion Codes


Betfair Promo Code for October 2017

£20 No Risk Cash Back - Betfair Promo Code

Up To £250 CashBack Refund - Betfair Promo Code

0% Commission up to £50 - Betfair Promo Code

20% Boost up to $500 Bonus - Betfair Promo Code

£20 No Risk Free Bet - Betfair Promo Code


Try looking for related Betfair Promotion Codes...

betfair exchangebetfairbetfair promo code


Current Betfair Exchange Promo Code Promo Codes

Betfair Exchange Promo Code Promo Codes for 2017 available now when you sign up for a new account
Betfair Product Betfair Promo Code Betfair Promotion Offer Betfair Offer Ends:
Betfair Exchange VAL225 £20 No Risk Cash Back 31/10/2017
Betfair Exchange #1 EXC25L Up To £250 CashBack Refund 31/10/2017
Betfair Exchange #2 EXCCOF 0% Commission up to £50 31/10/2017
Betfair Exchange #3 A20WIN 20% Boost up to $500 Bonus 31/10/2017
Betfair Exchange #4 VAL222 £20 No Risk Free Bet 31/10/2017
Betfair Exchange #5 EXC520 £20 No Risk Bet 31/10/2017
*PLEASE NOTE: Betfair Promo Codes are only valid when clicking to join from our official Betfair Promotion Code links/banners.

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