Betfair Cricket Betting

Update: bet365-logoAfter being under much scrutiny the people who run Betfair have decided to stop Indian bettors from being able to bet on their website. This sadly makes it impossible for our readers to be able to create an account at Betfair and bet using their great odds.

As an alternative we recommend checking out Bet365 to use as your main betting operator. This website offers an amazing selection of cricket bets, with decent odds, good promotions and many other features. You can even setup your account in Indian rupees so you don’t have to bother with pesky exchange fees. I would also recommend getting a Neteller account to fund your Bet365 account for an easier and more reliable way of funding.

If you want to check out the alternative, go ahead and read our review of Bet365 right now or if you just want to get started betting you can visit them at www.Bet365.com.

betfair-logoBetfair is one of the world’s largest online gambling sites. Betfair acts as a betting exchange, meaning that bets can be backed and laid at odds determined by the client, which are then accepted (or matched) by other Betfair clients.

By acting as an exchange, Betfair believes it offers odds that are significantly better than those available from other bookmakers. Instead of making money as a bookmaker taking risks against client bets, Betfair instead takes a small commission on any winnings earned by their clients.

Betfair was established in 2000 in the UK, and for UK clients is now licensed and regulated in Gibraltar. The company is licensed to offer markets in Australia by the Tasmanian Gaming Commission.

The Betfair site is fully translated into 17 languages, including Chinese, Russian and Spanish. It is open to clients from all over the world excluding residents of the USA, China, France, Turkey and Japan.

Betting on Cricket at Betfair

Betfair lists sports in a sidebar to the left of the screen, and clicking on cricket reveals the various competitions and matches on which it is currently offering markets. Selecting an event reveals the types of markets available (outrights, specials, top batsman, specific matches and so on) in the sidebar. Selecting one of these then reveals the full list of markets available for that group as a list in the sidebar, with full details and prices in the centre of the page.

Each market and selection can displays prices as either “Back” or “Lay”. The odds displayed show the most recently matched prices, and clicking on the odds opens a virtual betting slip as a separate pop-up window. These odds can then be confirmed or adjusted manually until you have the odds you are willing to accept for a given bet. This only becomes a confirmed bet when another client agrees to “match” the price offered.

You can view the history of bets placed for any given market through a simple click button alongside the market details. This allows you to see any prices that are currently on offer and are as yet unmatched. You could then choose to match the bet at that price for any amount up to the total indicated as being on offer.

Odds are displayed in decimal format for all markets, but there is a simple odds converter tool that opens in a separate window if you wish to see the price in fractional or American format.

Laying Cricket On Betfair

Betfair offers clients the chance to place both standard back bets and lay bets. A lay bet is, in essence, the opposite of a back bet. In a back bet, the gambler is betting that something will happen – a certain team will win a match for example. By contrast, in a lay bet the gambler is betting that something will not happen – in this example, that a certain team will not win.

Betfair can offer customers the opportunity to place both back and lay bets as it is a betting exchange and not a regular bookmaker. Bets are agreed (or matched) by Betfair when one client wants to back a bet for a set amount at specific odds, and another client wants to lay the same bet for the same amount at the same odds.

How does this work in practice? Let’s say one player fancies India to beat South Africa, and wants to back India at odds of 3.0 with a stake of €10. Another player wants to place a lay bet in the same market, and is happy to accept the same odds. By making a lay bet, the gambler is not placing a stake. Instead he is accepting a liability, which is the amount he will need to pay out in winnings if the backer is correct and India are victorious. In this example the liability is €20. If India lose though, or if the match is tied, then the lay bet wins, and the person who made the lay bet keeps the original stake of €10.

Lay betting is undoubtedly a little more complicated than standard betting, and does take a bit of getting used to. Betfair provide a helpful video tutorial on their site, and with a bit of practice lay betting offers the online gambler a variety of exciting betting opportunities.

Betfair Cricket Markets

Betfair offers a wide range of cricket markets. A typical match will have prices for top scorer, under/over bets on highest score, total sixes and fours, highest partnership and so on. There are frequently a range of player match bets available, where two batsman compete in a hypothetical contest to see who out of the two score more runs. A tournament will have markets such as tournament and group stage winners, highest individual and team score, and yes/no bets on events such as double century.

Live betting is also available at Betfair, with markets open for most bets, including outright result, partnership, top run-scorer and total sixes. Betfair does not offer live betting on an over-by-over basis.

Depositing and Withdrawing Funds from Betfair

Funds can be deposited using a wide range of methods at Betfair, including credit card, bank transfer, Western Union transfer and cheque. Both Moneybooker and PayPal can also be used to deposit funds.

Withdrawal of funds can be done through bank transfer, cheque or payment directly onto a registered credit card. Betfair operates what it terms a ‘closed loop policy’, meaning that any withdrawals have to be paid back into the original source, until the value of the initial deposit has been met.

Features of the Betfair Site

Betfair operate an excellent Forum for users, which has lot of chats and discussions about various sports, betting tips and techniques, and other general information. Betfair also has an excellent mobile application, available for both iPhone and Android mobile phones.