For those of you who don't already know what Bet Fayre is, I will now try to explain to you what the Betfayre website is and how it all works.
Betfayre is a betting website with a difference. Not only can you back events like you normally would at any other bookmaker, but you can also lay events. When you lay a bet you are simply betting against the outcome happening. This is exactly the same as what bookmakers do - they take other people's money and are themselves betting against an outcome happening. At Betfayre this is exactly the same too - you can take other punters' money and can set the odds yourself too. If the bet even happens, you have to pay out a set amount of money at Betfayre (the odds you set times by the stake you allowed). However if the bet doesn't happen, you get to keep that punters betting stake.
Betfayre is a great website to use because it allows people to set their own odds, and to act as a bookmaker too. This is why Bet Fayre is currently one of the top betting sites, and is the reason why it is so popular. People can simply get the best possible odds at Betfayre, and can therefore make more money from betting with Betfayre than with any other online bookmakers.
