Betfair Exchange App: An In Depth Review

Betfair Exchange App: An In Depth Review

The Betfair Exchange app has been freely available to download on iOS devices for quite some time thanks to the App Store. Android users had to download a special apk file to have access to the app until very recently. Google Play did have a policy to not list any gambling products at all, but this was overturned in July, meaning users can now download this app as well as many others from the Google Play Store.

What is Betfair Exchange?

When matched betting, we need to have an account with a betting exchange in order to be able to cover all potential outcomes. On a betting exchange, you can play the role of a bookmaker by offering odds to any liability that you are prepared to lose. The most simple form of matched betting then allows us to place a back bet on a selection to win with a bookmaker that has a special offer running, and we can place a lay bet on that same selection NOT to win on an exchange. By placing a qualifying bet, we can then qualify for the free bet or bonus. Then, by using the exchange to place another lay bet and using the free bet stake to back a selection with the bookmaker, we can guarantee a profit. Betfair Exchange are the most popular exchange around, boasting more visitors than their closest competitors.

The exchange is very different from that of a traditional bookmaker, as they simply offer the technology to put punters together for bets to take place. The way they make money is through charging commission on winning exchange bets. Betfair have a commission rate of 5%, which is the standard amount for a few of the exchanges. Since their introduction, betting exchanges have grown massively in popularity year on year. UK Government statistics from back in 2011 suggested that exchanges accounted for one fifth of the gross gambling yield in the country. This has only increased since then.

Clearly, matched betting is a large reason for the growth of the exchanges, but there are other factors to consider too. On some occasions they offer customers much better odds, as well as the feeling that it is not a bookmaker taking your money if you lose. It remains to be seen just how advanced betting exchanges will become in the next few years, but what is clear is that they will continue to be a key component when placing bets online.

Betfair Exchange App

Though using the Betfair exchange on a desktop offers an excellent betting experience, there will be many cases when you will need to place a lay bet while you are on the move. The best way to do this is through the use of the mobile app. Once you go to the relevant store for your device, simply search for Betfair Exchange and then click on the download button. Once downloaded, you will be able to either log in if you have an existing account, or register for a new account if it is your first time using Betfair. If you have used the Betfair sportsbook before but not the exchange, you can use the same log in details.

Once logged in, you will be greeted with the home page. The colour scheme is instantly recognisable as the yellow and black of Betfair, with a large amount of branding. Along the top will be your account balance as well as a quick link to your account page. If you were to click into this, you will be able to see a full break down of your account balance, including how much is in the Main Wallet, how much is in the Poker Wallet and how much is in the Exchange Games Wallet. You will also be shown a full list of promotions and bonuses that you have pending in the Arcade or Sportsbook. You can then Deposit or Withdraw any funds that you wish, as well as change your card details. Personal information can be viewed and edited, as well as the ability to see a full transaction history.

If you were not to click into the account section, the home page of the app will show you a list of sports across the top of the screen, as well as a button to take you to all of the in-play events. Below this are some quick links, which are a mix of betting markets due to begin soon and some betting tips articles. Scroll down and you will find a section for Most Popular Bets too, which shows the markets that most people are betting on at the time. This can be a mix of any sports. For example at the time of writing, John Millman vs Nick Kyrgios in a match at the US Open tennis was the most popular event.

Betfair Exchange Example

Inside An Event

When clicking into an event, you are first taken to the match odds market, which will be the most popular market for the vast majority of events on the site. The back and lay odds for all possible selections are shown. On Betfair, the best possible back odds are listed in a blue box while the best possible lay odds are in a pink box. Underneath the odds for each will be a number in pounds. This is the liquidity, which is the amount of money available to back or lay on that market. You will not be able to stake more than this amount at those odds. Of course, the odds and the liquidity will be constantly changing in relation to the amount of money that is being placed. If you are completing a matched betting offer, it’s important to make sure that there is enough liquidity to cover your lay bet.

The amount that has been matched overall for that event will be shown. As a further example, over £1,800,000 was traded at the time of writing on the Millman vs Kyrgios match. You can then click to see all markets or rotate your screen to see the full market depth. This would then show other back and lay odds available that are slightly worse than the best odds available. These can be important if there was not enough liquidity in the pot for the best odds, as you could instead place your bet at the next best odds if they have more money in the pot.

If you click in to all markets, as you would expect you can see every market available for that event. At the bottom of the screen, there is a menu that stays available no matter what page you are on. It includes a quick link back to the home page, an A-Z menu, the Cash Out page, the My Bets Page and Casino Games. The A-Z menu is where you will be able to filter by sport, and every sport that is available on the desktop is also available on the app. A very useful tool is the search function, which will allow you to search for a special word or phrase meaning you’ll be able to get your bets on quicker.

Using The App For Matched Betting

When you are matched betting on a mobile device, it is just as easy as if you were on a desktop. As mentioned, all of the same markets are available and due to the excellent layout of the Betfair Exchange app it is a positive user experience too. If you are using a matched betting calculator that is fully optimised for mobile devices, you will be able to get your lay bets on extremely quickly and easily on the app. This will be especially useful when you are out and about and need to place a lay bet for an in-play offer. Take Unibet’s In-Play Club offer as an example. They will give you a £10 In-Play Free Bet every week that you place five or more £10 in-play bets on Football, Cricket and Tennis. Thus, you may be at the pub for the evening while an event is going on. With the app, you will be able to get your lay bets on from anywhere, meaning that you won’t miss out on the chance to add to your matched betting profits.

Overall, on the list of the best matched betting sites Betfair are competing for the crown. Their mobile app is excellent and can be easily used to complete any matched betting offer there is. It is probably for the best to sign up to a Premium matched betting site such as Matched Bets or OddsMonkey in order to maximise your profits. They have tools available such as an automatic odds finder and advanced matched betting calculator. As well as this, of course they list every betting offer that can be turned into a profit through matched betting. Each will have their own guide, making sure to explain every step of the way. This makes it easy for people new to matched betting, as well as those with years of experience.

Leave a Reply

Your email address will not be published. Required fields are marked *