What are fixed odds?
When you place bets on the Betfair Exchange – the price your bet is
matched at is the price you’re locked in at. The prices in the market are
available to customers and regardless of what happens to the price of the horse
What are decimal odds?
Decimal odds give an indication of total return, should you win the bet
(where return is the total you receive back from a winning bet, i.e. Stake +
Profit). To convert fractional odds into decimal odds, simply add 1 on to the
completed fraction to include the stake. Use the betfair odds converter here
For example, 8/1 can converted to decimal odds is 9.0. To calculate the
potential return from a winning bet, simply multiply the decimal odds by the
stake - e.g. a $10 back bet at decimal odds of 12.0 (11/1) will return
$120 ($110 PROFIT + $10 STAKE)
How do I simply place a bet?
To place a bet, click on the price you want (blue box to bet for, pink
box to bet against). Confirm the odds you want to lock in and the stake you’d
like and click “Place bets”.
What is Cash Out?
Where the odds on a horse have changed since you placed your bet,
Betfair offer you the opportunity to cash out your bet on selected races. This means;
the odds have shortened on a horse since you locked in your odds, you can cash
out to lock in a consistent profit, regardless of the outcome
the odds have lengthened on a horse since you locked in your odds, you can cash
out your bet to limit your losses
What is Betfair Starting Price?
As well as offering standard exchange wagering, Betfair offers the
chance to bet at Betfair Starting Price. Similar to the price you get when
wagering through the Tote system, you do not know what the Betfair SP for a
horse will be until the start of the race.
How does commission work?
charges a commission on your net profit on a market whether you’ve back one or
more runners. If you have a net loss on a market you do not pay any commission.
Who are Betfair?
is part of FTSE 100 listed Paddy Power Betfair plc. Paddy Power Betfair is the
world’s largest listed online gaming company and runs the TVG Network in the US
and 4NJBets and the Betfair Casino as well the Betfair Exchange in New Jersey.
Where can I find out more?
or search ‘betfair exchange’ in NJ. Alternatively, visit the Exchange education
Meadowlands Racing & Entertainment - 1 Racetrack Drive - East Rutherford, NJ 07073 - Call us at (201) THE-BIGM
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