Exchange Games: What are they?
Exchange Games gives the player the ability to place bets on the outcome of a computer generated event - e.g. a poker game. It is as if you are standing behind a crowded table in Las Vegas, stealing peeks at the players' cards and making side bets as to which player you think will win or lose.
You are not actually playing the card game, but are betting on the outcome of other people playing the market.
On Exchange Games, you back and lay selections.
To back a selection is to place a bet for something to happen. For example to back Player 1 would be to place money on them to win the game. If they win, so does your bet. It’s just like the bet you’d regularly place with a traditional bookmaker.
To lay a bet is to back something not to happen. For example, to lay Player 1 to win the game is to back them NOT to win. If you were to lay them, you would win your bet if they either lost or drew the game.
On Exchange Games you will be betting against other customers who have bet on the opposing selection.
Betfair charges a Commission on your net winnings on a market. If you have a net loss on a market you do not pay commission. You will be able to find the commission rate per game on the help section of each game.
Discount rates do not apply to any of the exchange games commission rates.