If you're not already a member click here to sign up and receive a free £30 bet.
After you've registered, you will need to deposit funds before you can bet or lay your selections. If possible I recommend depositing £30 as at the time of writing this blog that was the maximum amount Betfair will match as a free bet (read the terms set out when registering in case the free bet rules change). With money in your account it is time to bet (or "back") your first selection.
Backing Your Selection On Betfair:
For the purpose of this guide I chose to back QPR to beat Tottenham 3-0. I browse to the game by clicking Football at the top bar. Once there I am met with a list of the major games, of which QPR v Spurs is one of them so I can simply click 'View Full Market' to arrive there. If you want to bet on another, lesser game or a different sport entirely you can easily find it using the list on the lest-side of the screen.
As you can see I am already able to back it for 280.00 (which is 279/1 to any old school readers). Or you can offer your bet at a higher price if you think odds will increase. For example by clicking the blue bet icon (in our case, the 280) and look at the right-side of your screen, you will notice the 'My Bets' area has your 280 offer, which you can increase before entering your stake and clicking bet. (Also once you have placed a bet you will notice the option to Discard, Keep or Take SP - these allow you to keep the bet once the race/match has started or take Starting Price or in fact discard your bet if the odds don't reach you expected level.
Laying Your Selection On Betfair:
Laying a selection on betfair is done much the same as betting. The only thing I would say is (and it sounds so obvious but when you're in a rush to place bets it can happen!) DO NOT click the wrong button. Always Blue to BACK and pink to LAY.
Scalping or Trading
Scalping is a short terms trade where you back something at a high price and instantly lay down a price lower and wait for it to be matched. It allows instant profit before a race or game is over (or in most cases EVEN STARTED!).For an indepth guide to scalping visit:
http://betfairscalping.blogspot.com/2011/01/scalping-on-betfair-easy-money-be.html
Don't forget to sign up at Betfair and receive a free £30 bet
