Betfair Gambling: Is it Worth It?

Betfair, the People's Betting Exchange

I recently joined Betfair, the online sports betting website that allows you to lay events as well as back events. I spent a little time studying the website, trying to find out how I could increase my chances of winning money on Betfair and comparing this popular gambling website to other sports betting websites. After winning €4 over the course of three days' betting on horseracing in the UK and Ireland, I decided to withdraw the money from my Betfair account and I will now share the reasons why I made this decision.

At first you would think Betfair is a safer gambling website than other sports betting websites because it allows you to lay events as well as back events when other gambling websites only allow you to back events. Backing an event means that you are betting that something will happen (for example, you back a horse if you think it will win a race); laying an event means that you are betting that an event will not happen (you lay a horse if you think it will not win a race).

I was first disappointed then I realized that the minimum bet for any event on Betfair is €4. I knew that some sports betting websites allow you to stake amounts as low as €0.10 and with stakes of €4 minimum, you can lose your whole Betfair bankroll pretty quickly.