Betfair questions thanks alot?

How does betfair make money? commision of every winning bet a % Also how does the lay option work someone lays at 3.5 a 1000 and they have to pay out 3.5k if it wins how does ...show more
Answer:

Betfair take a small commission from customers who win on a market. If you lose on a market you pay no commission. Click on link for better understand.. http://help.betfair.com/contents/itemId/i65767827/index.en.html :)

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They make commission on winnings bets only, the rate is dependent on your turnover (Betfair points earned). Betfair does not touch the market or spread money around, it's purely lead by backers (blue) and layers (pink). If you take the opinion that a selection is going to lose, you simply match a bet against somebody who thinks it's going to win, you are effectively operating as a bookmaker. Take the tennis on Sunday - If you think that Federer will lose, you will be currently risking £0.65 to win a £1.

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