Betdaq UK gives you the option to Back or Lay on any selection. There are no limits to the amount you can bet and with a current commission rate of 2-3%, Betdaq offers low commission rates on sports betting and on average 20% better odds than traditional fixed odds bookmakers.

A betting exchange is a whole new method of betting. It is also not a bookmaker...

It can offer more competitive odds than a bookie, as well as give you the chance to set your own odds

A betting exchange works by bringing people together with opposing views to exchange bets between themselves.

The betting exchange acts as the broker between betters, ensuring that the money is exchanged when bets are won or lost.

By removing the bookmaker from the betting process the margins are removed. The result is better odds than those offered by a traditional bookie.

There is also the advantage of only needing to pay commission on your net winnings, not your stake. This way if you lose you do not pay commission.

Look at the step-by-step tutorial explaining how to back and lay your bets

Register with Betfair and check out the latest odds available

A betting exchange also allows you you to both 'back' and 'lay'.

Backing
When you 'back' a selection you are betting on something to win. This works the same way as with a bookmaker, except that the odds offered are typically better.

Laying
You can also 'lay' odds on a team or individual. Here you offer odds against a win.

If the team or individual you lay against doesn't win, you pick up the money staked, just as the bookmaker would. If they win then you pay out.

Another advantage of a laying a bet is that you can choose the odds, although people make the most money from a betting exchange by offering the more realistic odds.

So beat the bookie, be the bookie and bet against another punter with Betfair.