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betfair.com

betfair.com first opened it site in June 2000 and quickly established itself as one of the largest betting exchanges in the world, with a turnover in excess of 50 million per week.

What made betfair.com unique and different from other traditional bookies was that you could now back or lay the potential outcome of an event. This was originally quickly picked up on horse racing (betfair.com first main market) because you could now back a horse to win or you could in effect back it (lay it) to lose.

One other thing that also stood out was that betfair.com does not charge you commission if you lose, you only have to pay them (around 5% based on usage) if you win. So unlike traditional bookies they want you to win.

As betfair.com became more popular and more money entered the markets it wasn't long before people began to realise that the prices on events would move just like they do on the stock market for day traders, the only difference is that we are dealing with an outcome of an event, rather than the price of commodities.

In fact many people who use betfair.com do not even see themselves as gamblers because they are not interested in the actual runners, players or teams they just want to trade on the prices.

Another thing betfair.com introduced was "In running" or "In Play" which allows you to actually trade during a race or match. It is very interesting to see the speed at which prices can move during this time.

Being that betfair.com is really just a computer programme it wasn't long before software developers started to produce applications that would speed up the betting process and use the information to help improve people's ability to trade. This was helped even further when betfair opened its API to developers, allowing them to create more stable applications and so start of the betting bot age.

Some people say betfair.com has bought trading to the masses because you can start trading with as little as £2.00 and you only pay them when you make money and remember there is no tax on gambling (yet).

Many traditional traders have moved to Betfair and other exchanges and we suspect many betfair.com traders have gone on to trade on the commodity markets, after learning their skill on betfair.com .

There is over £200,000 bet on each horse racing market daily and even more on some other events so there is no shortage of money available, to take up a position on this unique trading platform.