How does Betfair exchange work?

All punters are always on the prowl for great offers from bookmakers with regard to a welcome bonus. You don’t have to look any further as Betfair has a great promotion for new players on their site. They will give you one risk free bet up to £20 when you join them. You will basically be using the “houses” money as you will not be out of pocket even if the bet loses. This is every punter’s dream as you can bet on that long shot that you wouldn’t normally bet on as it would be too big a risk. Now if that bet wins, you will be smiling and even if it loses, you will receive your stake up to £20 back in bonus.

How does it work?

The Betfair Exchange offer is a risk free bet where if you lose your bet, you get something back in return. You will receive a stake of up to £20 back. Risk free bet offers are best for the customer as customers get their initial stake in addition to their winnings on winning bets. Free bet risk-free offers are not as good for punters, as you only get your winnings back on winning free bets and not your stake.

For example, if you use £20 on a free bet on a team with 1/1 odds and it wins, you only get £20 back. However, if you use the Betfair risk free offer and you bet on the same odds, you receive your £20 stake back in addition to your £20 in winnings. This is the reason the risk free bet is way better than the free bet bonus.

Terms and conditions of the Betfair Bet exchange offer

The first Exchange bet you place within 7 days of registering your new Betfair account can risk up to £20. Your bet must settle in this period too.
If you place a qualifying bet as set out above, and that bet loses within 7 days of account opening, we will refund your stake in cash, up to a maximum of £20.
Betfair will aim to credit your account within 72 hours of your qualifying bet being settled
Only deposits made using credit/debits cards and Apple Pay will qualify for this promotion.
Unmatched, unsettled or voided bets will not count towards this promotion.
In the event that two qualifying bets are placed at the same time, the first bet to settle will be your qualifying bet. In the event that your qualifying bet wins, there will be no credit to your account.
Once you have received your bonus, it will be used automatically at bet placement before any funds from the balance in your main wallet - as long as the bet matches the terms and conditions stipulated in the promotion i.e. sport, minimum odds, bet type. Enter the stake value as normal. If it is less than the bonus then the remaining amount will be left in the bonus balance.
If your bet wins, your profit will be kept in the bonus wallet balance until turnover requirements have been met - before being transferred into your main wallet.

Betfair may not have the biggest promotional offer on the market but it is one of the easiest to access. If you don’t have much of a sports betting bankroll and you open up a betting account with a risk-free bet offer, you could significantly increase your bankroll. If your initial bet wins, then you have a potentially large profit. If your bet loses, you can potentially win big on your free bet that you get in return. They do not have the strictest of wagering requirements which can sometimes nullify the actual bonus. Don’t delay, join Betfair today.

If you want to know more about Betfair have a look at our extensive review.

How does Betfair exchange work?

How does it work?

Terms and conditions of the Betfair Bet exchange offer

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