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Free spins available for 7 days after qualifying. The Betfair new account offer does change from time to time but there is no indication as to when the existing welcome offer expires.

Betfair consists of a betting exchange and sportsbook and only one account is required to use both products. Customers can bet at the exchange and the sportsbook and enjoy the benefits of the Betfair offer.

The offer is available just once for each new customer regardless of which product is used. New customers with Betfair can get their bonus once the qualifying conditions have been met.

Fortunately, the terms and conditions related to the offer are easy to understand and achievable. The Betfair offer is only valid for new customers and existing customers cannot take part.

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The next stage of the initial procedure is to fund an account by making a deposit. There is one account for the exchange and sportsbook.

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There are also promotions that are specific to players in the Betfair betting exchange. The Betfair exchange provides the site on which backers and layers match bets.

In any market there are backers and layers who make transactions when the odds are mutually beneficial. Bets can be fully matched or not matched at all.

If there is not enough money in a market at the agreeable price the bet can be partially matched and the rest can be matched at a later time.

Betfair offer the most exchange markets and liquidity. The key to an exchange working fully is the amount that is available for backing and laying.

Other exchanges may offer the same markets with lower rates of commission but if there is no liquidity bets will not be matched.

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There is one account for the exchange and sportsbook. Once the account registration has been completed, customers are prompted to make a deposit.

The banking method and amount is specified and when the deposit is accepted the account balance is updated. Deposits are usually immediate and there are no fees.

The specific and general rules are displayed on the website but some potential new customers might not appreciate the detailed nature of the terms.

Both sets of terms are designed to satisfy the needs of compliance guidelines and the offer is easy to understand and follow.

The Betfair sign up offer is valid for new customers only but in the sportsbook Betfair offers a number of ongoing promotions for existing customers.

These offers are sport and event specific and are related to football, horse racing and other sports. The ongoing promotions include boosts for winning accas and best odds for matches in the Premier League and Champions League and the guarantee of best odds on racing in the UK and Republic of Ireland.

The range of offers across the Betfair product range, including the sportsbook and other gaming products, is extensive.

Few other gaming sites offer such variety and numbers. The Betfair new account offer is a way to attract new customers but customers who then bet at Betfair are rewarded for their loyalty.

Customers who first play in the casino, poker and bingo are eligible for welcome offers. These gaming product-related promotions are described below:.

This promotion is subject to the following rules:. No current poker welcome offer. In addition to the Betfair sign up offer and promotions for new casino, poker and bingo players, Betfair provides bonuses and concessions for players in the exchange games and Vegas slots.

There are also promotions that are specific to players in the Betfair betting exchange. The Betfair exchange provides the site on which backers and layers match bets.

In any market there are backers and layers who make transactions when the odds are mutually beneficial. Bets can be fully matched or not matched at all.

If there is not enough money in a market at the agreeable price the bet can be partially matched and the rest can be matched at a later time.

Betfair offer the most exchange markets and liquidity. The key to an exchange working fully is the amount that is available for backing and laying.

Other exchanges may offer the same markets with lower rates of commission but if there is no liquidity bets will not be matched.

New customers who take advantage of the Betfair sign up offer have access to more markets than on other exchanges and more markets with decent levels of liquidity.

Betfair charges commission on winning bets and the back odds on offer are usually better than those available with existing traditional bookmakers.

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Betfair has a deserved reputation for being the best exchange in the sports betting industry. Make sure you are using the correct Betfair promo code and fulfill the conditions to claim the bonus ex.

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Pre-race scalping — If you watch a market before a horse race you will notice that prices move in small increments allowing you to trade and make small profits quickly if predict the correct movement.

Profits will only be small from each trade but they will build up! Back to lay horse races — The key to this is to spot horses that will start fast.

You back the horse pre race as near to the off as you can and then lay it once it goes ahead early in the race and the price decreases. Swing trading a horse race — By understanding the markets and how the graphs move you are able to determine price movements and trade large swings in price.

Lay the draw — The most common football strategy. This is done by laying the draw and then re-backing it when the favourite scores and the draw price increases.

Trading team news — Your knowledge of teams has to be spot on and you need to be quick off the mark. But there are lots of opportunities for price movements when a stronger, or weaker starting line up than is expected by the markets is announced.

Twitter is your friend here. If you are a Sportsbook gambler, you will probably be in the mindset of hoping every bet wins and seeing it out to the bitter end.

But in trading, you are largely betting on small price movements rather than results. So if a price starts to move negatively, your number one goal is to scratch the trade, protect your bank and move on.

The overall strategy that you use will be the ultimate factor that determines when you exit your trade. If you are scalping, your exit point will be just a few ticks away from your entry point.

In fact, you will probably be best off placing the potentially winning exit trade straight after your entry has been matched.

There are a few reasons why this would be beneficial. Firstly, it reduces the risk of you losing your discipline and getting carried away, allowing your trade to continue and increasing your risk.

When you place your bet you must wait for all the money ahead of you in the queue to be matched before your bet is taken.

But should the price move in a negative direction, have a set about of ticks that you will exit the trade at and stick to it at all costs.

You must work out for yourself what the best value is for you to exit at, but over time you will adjust these figures to ensure you are in profit.

It all depends on the percentage of winning trades you execute. And if it moves in a negative direction for a pre determined number of ticks, get out.

When it is headed in the correct direction, just ensure that that you monitor the graphs and volumes traded so you can spot when the price has settled.

One of the best ways of determining your exit point is to look at your previous bets which you should have recorded. Look for similar trades you have completed, and this will give you a better understanding of how the price moves when you are confronted by a similar scenario.

When making your post trade notes, it always worth monitoring the price to see where it ends up after your trade and adding a comment on whether you was correct to exit at your chosen point.

You will never be right all of the time, but a loss or an imperfect trade is nothing to beat yourself up about. It is a learning opportunity.

To help you read the charts and make a decision on where the price is headed, there is software available to buy that analyses the market and calculates the possible upper and lower variations to the price — the support and resistance levels.

But of course, it is important to supplement your reading of the graphs with the research you have conducted on the event and the real time information that you have available which can cause a price to be moved outside of these ranges.

It is important to consider all outcomes when you trade, and a way that you can mitigate the risk is by placing bets on related markets to offset any potential loss if your trade goes against you.

The danger here is that the game could finish However, by placing a small amount on the price, you can minimise any potential loss should a goal not come.

It may be a cautious approach, but your bank balance will show the benefits of caution! Your exit strategy will tie in with your overall balance and predefined tolerance for risk.

You should always use stakes that are even and proportionate to how much is in your overall bank. You should put yourself in a position where your goal is to protect your bank at all costs.

Should you find yourself down to the bare bones of your Betfair balance, the temptation would be to gamble recklessly and win it all back quicker.

But that is the time for increased discipline so you can slowly build it back up. If you are swing trading and sitting in a winning position but you feel that a price will continue to move, you can use the green position you have put yourself in to minimise the potential loss if it moves back against you, while waiting to see how much of a bigger swing you can bag!

You might have all the tools needed to trade successfully: the sports knowledge, a mathematical mind, the equipment, the lightning quick TV feeds etc.

Discipline is vital. Likewise, that gutting feeling when a team scores in the 90th minute and kills your 10 fold accumulator whilst your imagination was already counting the cash.

To trade successfully you must be able to put these feelings to one side and be ice cold and calculated. Being wrong in the markets is just a discovery of a way not to do things in future — a learning curve.

Trading is about long term success and it is vital you work on these limiting beliefs. There are numerous other emotional states that will lead to you making poor decisions: Anger, disappointment, unhappiness.

Your number one aim, before making profits is to protect your bank. This means that you need to devise a sensible trading strategy to grow your profits long term.

Regardless of whether you are trading an exchange, or punting on a sportsbook, one of the main failures of recreational gamblers is that they bet huge proportions of their bank.

Yes this may mean that you can build big profits on a good run. But you are guaranteed to wipe it all out when results go against you.

Ideally it will be smaller — especially whilst you are learning. The worst case scenario here if you fail to scratch a trade, you can live to fight another day.

This is to protect against situations where your PC crashes, internet dies or Betfair fails. What you need to keep in mind is that the markets are full of novices, with no price awareness and little desire to get true value.

Take your time. By having level, consistent stakes and using the edge you have gained in the market, you will start to see small incremental increases in your balance and withstand any variance in the markets.

Simply document all of your trades in an excel spreadsheet. Even down to how you were feeling before, during and after a trade.

Then look for trends. Analyse the key aspects behind your winning trades and your losing trades and you should be able to spot where you are going wrong.

This adjustment could be a key way of ensuring that you correct small mistakes that turn you into a long term winner.

Once you identify the mistakes that you repeatedly make, write them down on a post-it note and keep these viable. Trading can require quite instinctive decision making at times, so having a note in front of you at all times will be a great visual reminder of where you have been going wrong.

It is important to keep doing this in the long run also as you may go through periods of bad form and this same method will enable you to get back on track a lot faster.

Without it, it is like going into a gun fight with a pen knife. Remember, betting exchanges are peer-to-peer betting platforms.

You are going head to head with thousands of other people, and the most savvy of those are using software to execute their bets quickly and smartly.

Firstly, trading software that enables you to speed up your trading and give you the opportunity to beat other users to available prices and visualise weight of money in the market to give you a better idea of the direction a price is headed in.

Secondly, there are automated trading apps available that let you automate your trading strategy with the software acting on your behalf executing trades based on a given number of conditions that you specify.

To begin with you are most likely to use the first option. It is a piece of software that you download and has access to the back-end of the Betfair website.

The desktop software layout is slightly different to what you are used to, but it gives you an abundance of different information and available options to be successful with your trading.

The best software is very subjective and frankly down to personal choice so you may need to play with a few options in order to decide which one is the right fit for you.

This post was written by Luke Jordan. Luke founded Beating Betting at the start of and ran the site until February He is passionate about entrepreneurship, marketing and video creation.

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