Betfair exchange is the world's biggest betting exchange which thankfully is also accessible for Nigerians.It is also a sharp bookie which means you can never be limited on its platform for being so profitable
Betfair trading is the activity of trading odds on the sports betting exchange.

It involves buying action at the highest possible odds by placing a back bet (it will happen) and selling at the lowest possible odds by placing a lay bet (it will not happen).

Sports Trading Terms
Back bet – It’s a bet like at a traditional bookmaker. If we believe that an outcome will occur, we place a back bet. For example, a back bet on Manchester City means betting on Manchester City to win the match.

Lay bet – This is the opposite of a back bet. By placing a lay bet, you are betting that the event will not happen. For example, a lay bet on Manchester City means betting that Manchester City will NOT win the match.

Liability – The amount of money that will be taken from your account when placing a lay bet. With a back bet, the liability is your stake amount.

Commission – An amount that sports exchanges charge on your winning bets, usually 5%.

Some of the Betfair trading strategies include
Scalping
Hedging
Swing Trading
Cross-Market Trading
Dutching




Betfair traders,let's gather here to share our experiences, strategies , knowledge and results

ADVANTAGES oF AN EXCHANGE OVER THE SPORTS BOOK
1.MUCH BIGGER ODDS It's worth remembering that Betfair makes money as an Exchange from commission and from a Sportsbook by taking bets directly from customers. The result is that because there’s no margin built into Betfair Exchange prices, you can almost always get considerably higher odds using the Exchange than you can on a Sportsbook, assuming there’s sufficient liquidity.


2.ABILITY TO LAY


This of course was (and still is) one of Betfair’s big selling points as an Exchange when it first launched almost 20 years ago.

The facility to bet on something not happening is a great weapon to have in your armoury. Examples would be to lay a footballer to score a goal, lay a team to win the Champions League, lay a cricketer to score 50.

There are of course some ways that you can get around this on the Sportsbook where the lay facility doesn’t exist. Backing Manchester United on the double chance market on the Sportsbook against Chelsea is the same thing as laying Chelsea on the Exchange. Backing a game to have over 2.5 goals is the same thing as laying under 2.5 goals.

But they’re few and far between and the ability to lay anything you like on the Exchange, once again liquidity permitting, gives your betting far greater flexibility.

3.ABILITY TO TRADE


The ability to back and lay throughout an event by trading, with the goal of either ending up with your profit on the eventual winner or with a profit on all runners, otherwise known as a green book, changed the betting landscape forever. In the process making Betfair customers the ‘day-traders’ of sports betting.



It has meant the days of placing a bet and hoping for the best from the moment the game began or the race was off are over. You can adjust your position an infinite number of times throughout the event. Even if your initial bet ends up being a loser, you can still make money from the event as long as at some point it shortened in price. Or you can save your fingernails by trading out at 1.2 having put a load of cash on the 1.8 favourite, for example.

For the record, attempting to do the same on a Sportsbook would be disastrous. Not only are the betting markets much slower to update the odds on Sportsbook and very often suspended during the event but rather like with the cash out, you’re giving away value with each bet you place.





4.NO RESTRICTIONS ON BET STAKES
If you wake up one day and decide you fancy having a $10k bet on a team to win a football match you may just find that the powers-that-be at a Sportsbook , don’t want your money. Whether they take your bet may depend on such factors as a) the exact size of the bet b) the odds at which you want to place it. c) how high profile the match is. You’re a lot more likely to get your bet accepted in a Premier League or Champions League game than a Greek Second Division one. D) Your history as a customer. Unsurprisingly you’re more likely to have your bet processed as a losing customer than a winning one.

But you won’t have to worry about your bet being taken on an Exchange like Betfair. Well, you do in the sense that you may not find enough customers willing to match the other side of the bet (your bet), once again due to poor liquidity. But on a high-profile event such as: a game from the Premier League, La Liga, Serie A, Champions League, Championship; any big tennis match; international cricket match or IPL match; any half decent horse race …you almost certainly will, whether it’s pre-match or in-play. Occasionally you may have to settle for backing your selection at say 1.96 rather than 1.98 but you should be able to ‘get on’ at a price very similar to what you wanted.

What certainly won’t happen is not ‘getting on’ for any reason other than lack of liquidity. Betfair’s slogan used to be that they ‘welcomed winners’ because they made their money through commission and so the more you were winning, the more you were paying them. That part of things certainly hasn’t changed.
Someone’s mistake is your opportunity
Ok, so this last one is rather sneaky but all is fair in love and gambling. Whether it’s a ‘bot’ somehow suffering from a technical mistake or whether it’s human error in offering to back/lay a price that is clearly wrong, these mistakes do happen.

Years ago during a Greek Cup football match on a random Wednesday afternoon, someone mistakenly offered someone odds of 20.0 on the team who had just gone 1-0 up rather than the one (they presumably wanted to lay) who had gone 1-0 down. I wasn’t trying to cheat anyone, it just so happened I was first in the queue when the bet got matched and massively benefited from the wrong price. But for eagle-eyed gamblers, blatantly wrong prices, especially after an in-play market has just been re-opened, present an opportunity.

This would never happen with your regular soft bookmakers . Not only would their very professional traders almost certainly not make this mistake but if they did, their general terms and conditions would almost certainly allow them to rectify the mistaken price if it was obvious there had been a mistake.



5.YOU CAN NAME YOUR PRICE


The entry above was all about other customers making mistakes but you can secure better odds than you might at first have expected in a far fairer and more ethical way.

One of the great selling points of using the Exchange has always been that you can request odds that are bigger than what’s on offer as a backer. If the best price about west ham united to win the premier league is 30.0 you can try your luck by requesting odds of say 36.0. There’s no guarantee that you will get matched but it might just be that someone is prepared to give you those odds. It may also be that whereas the ‘real’ price of Manchester united beating arsenal is 2.2, someone may just be willing to take your shorter offer of 2.06. In this sense, you’re more likely to get matched at bigger odds as a backer on a very liquid market and more likely to get matched at shorter odds (as far as you’re concerned) as a layer on a market with less liquidity because other customers have less choice.

In this sense, betting with the Sportsbook is like walking into a shop in a mall and either taking or leaving the T-shirt you like at the price on offer. Whereas the Exchange is more like buying the same T-shirt at a flea market. Within reason, there’s some room for negotiation.

Some traders say they make over $10,000 monthly trading on Betfair 😳.How do they manage this?

Where are the expert Betfair traders here?.
Y'all should come let's discuss strategies,and the market

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