How to succeed as a backer on Betfair Australia

Backing Favourites

You obviously still need to be able to pick winners to make money as a backer. However the beauty of it is if you do win you will undoubtedly win more. Also because you will be able to get odds at least 1 or 2 points better than a conventional bookmaker, you can do what some of the professionals do. That is back several of the market leaders in the same race in the knowledge that if one of your selections wins you will make an overall profit. The World Cup is an excellent way to do this with no country generally less than 5/1 to win it outright. 

Backing Outsiders

Betting exchanges can be particularly lucrative if you fancy something which is very much an outsider. Lets say you fancy Wales to win the Rugby World Cup. The bookmakers might be offering odds of 16/1 however if you request odds of 66/1 you would be surprised how often somebody will match those odds for you. This is because the way some people approach this form of betting, is to lay everything they feel has no chance of happening, virtually regardless of the price. The reasoning being that if its not going to win it doesn't matter what odds I give it. However this can work to your advantage particularly if you know something they don't.