Betfair is the largest bookmaker, but is also aimed at the Swedish market and offers odds, poker, casino and other games. Betfair has a different model for odds games and was the first so-called odds exchange created online. The term oddsbörs, also known as " spillbörs" , means that you play against other odds and not against the bookmaker. Overall, this usually means that the odds are higher than with traditional gaming companies. Betfair model for odds game differs slightly from other bookmakers because you can play for it or not to happen for each event. That is, you can bet that a match will be played or that it will NOT be won, these are two different odds.
If you want to play for better odds than those offered, you can place an order for better odds. The more realistic your odds are, the more likely it is assumed. Remember that odds are usually better and better the closer to the start of a race or game you play because more players play the market. Betfair is not included in a stand-alone poker network but has its own. Only Texas Hold'em and Omaha are offered. Betfair has a decent selection of casino games and since 2006 has something they call Zero Lounge , which means that Betfair at some casino games has no benefit at all. For example, their Zero Roulette does not have any zero, so play on red / black has exactly 50% chance of occurring instead of the 48.65% you get when there is a zero.
Betfair was founded in August 1999 by Andrew Black and Edward Wray following the created technology behind Betfair the year before and wanted to give this new idea to players around the world. The technology used by Betfair is copyrighted, and also patented in many different jurisdictions. As mentioned above, it is about playing an outcome or booking if you think it should not. This can then be used to hedge their profits through so-called hedging - a term used for everyday use mainly by financiers, but with the same meaning.
Both playing and booking can be both wrong and correct at the same time. By making it different odds you can secure your winnings - because both issues are focused on. For example, we can say that you are at a bar with your 2 friends - we can call them friend A and friend B. You tell friend A - "I bet that the next person entering the door is a woman in red dress". At the same time, you tell friend B - "I bet that the next person coming in through the door is not a woman in red dress".
In betting this is called you have played (bet on something to happen) and booked (bet that something will not happen). Whoever enters the door, you can not lose, right? You win your bet with friend A if the next person coming in is a woman in red dress. If any other person enters the door, you win your bet with friend B. Should we bet $ 100 on both bets with friend A and friend B, it would be the same outcome as if you had initially wagered something at all. You are neither richer nor above all poorer either. This is the very basis of a "qualifying bet" and a so-called "free bet" (these terms are explained below). Your winnings and losses take out each other - you can not lose and it's not gambling in the traditional sense because you know it will happen.
Let's take another example of the amazing world of betting. The game or outcome can be just what you want, for example: Björn Ferry wins Olympic gold, or Barcelona wins the Champions League; but you must both play (that happens) and book (that it does not happen) at the same time. Looking for now, you can see that when you play an outcome, the outcome is definitive (for example, Ferry wins), but when you book, there is a great deal of what can happen - anything but the Ferry actually wins - and you still win your bet. By both playing and booking the Ferry to win, all outcomes are covered.
Because we both play and book that he will win at the same time, we can neither win nor lose. If he wins (win) then we win, he loses (book) so someone wins and we have also played on = we win here too. The game thus takes apart and that is what the Play and Book principle means. Of course, it's important to play and book the same event and outcome , otherwise you have not covered all possible results.
You bet £ 100 for Barcelona to win the odds of 1.20, right now there are only offered odds on the market at 1.18. Your offer will then be placed under the book on the pink side and end up on the opposite side of your game (someone will accept and match your game). After a while your game matches, it is now on the blue (play) side and you have now bet 100kr to the odds of 1.20. During the first half of the match, Barcelona now make a zero and the odds now drop drastically to 1.05. You can now choose to secure your bet by booking Barcelona for $ 100. We risk only $ 5 but at the same time ensure our game of $ 100. Additionally, if we put more money, we can guarantee ourselves to win.