20 Sep 2024 —

You back an outcome in a betting market and the bookie pays out if your bet wins. However, betting exchanges - such as Betfair - allow you to 'back' or 'lay'..

Betfair is classified as a 'betting exchange', whereby punters can bet on the outcome of a particular event, much like they would through a traditional .... Betfair is a British gambling company founded in 2000.

It operates the world's largest online betting exchange. Its product offering also includes sports .... Betfair Cash out feature allows you to guarantee your profits or manage your losses on a bet. You can think of it as selling your current bet to another user ....

A guide to terms and language to describe key features on the Betfair Exchange..