Betfair

Betfair is an online betting exchange where users can bet against each other on the outcome of various events, such as sports or politics. Instead of placing bets with a bookmaker, you set your own odds and stake, and other users can back (bet for) or lay (bet against) your selection. The platform earns a commission on winning bets. It offers more flexible betting options, often with better odds than traditional bookmakers, and allows users to both wager and lay bets, enabling a dynamic marketplace driven by user supply and demand.