What is Betfair and why do I need it?

Betfair is a betting exchange. Unlike a regular bookmaker where you bet against the house, Betfair lets you bet against other people. This one difference is what makes matched betting possible.

Here is why it matters. When you place a bet at a bookmaker, someone needs to take the other side of that bet. At a normal bookmaker, the bookmaker does that automatically. At Betfair, other users do. This means you can not only back a selection to win, you can also lay a selection to lose, acting as the bookmaker yourself.

In matched betting, this is the key step. You back a selection at a bookmaker to qualify for a bonus, then lay the same selection on Betfair. This covers both outcomes and locks in a profit from the bonus regardless of the result.

Getting started is straightforward. There are no minimum deposit requirements and setting up an account only takes a few minutes. Sign up here and you will be ready to place your first matched bet.