The Betfair exchange offers a different way to bet against fellow punters with the opportunity to back and lay bets and become your very own bookmaker. 

An exclusive referral code can be used when joining Betfair Australia. Read on for everything you need to know about the code and how the betting exchange works.

New customers can sign up using the Betfair Australian referral code BETSAU. This is the only code you should use when opening a new account.

Due to government legislation, bookmakers are unable to offer Australian customers welcome offers. 

Before you can start placing your sports bets, you need to open a new account. To do that, follow these simple steps...

Everything about Betfair has been designed to make it easy to place bets in seconds. That is one of the most important things betting on the exchange, due to the fact odds can disappear quickly in this fast-paced way of betting. 

One of the key offers available from Betfair is the amount of commission you pay on bets. It is set at 5% but you can opt to change that feature as part of membership options. 

Betfair has lots of excellent betting products, and you can bet on almost every sport and racing market. There are lots of markets on football, rugby, cricket, tennis, snooker, basketball, and just about every other major sport. 

The Betfair betting exchange allows you to not only back selections, but also lay bets. That puts the power in your hands and you become the bookmaker by offering odds to punters who have a different opinion on what might happen in a race or game to you.

Betfair offers betting on a range of thoroughbred and harness races (as well as sports) and the opportunity to BACK or LAY outcomes.

The Betfair Exchange profits through charging commissions (5% of the winnings a bettor earns) rather than by including a profit margin like a regular bookmaker does.

That's because a betting exchange like Betfair provides members with opportunity to bet against each other rather than a bookmaker.

Betting exchanges allow users the flexibility to find odds and markets they want rather than risking a bookmaker who can dictate the stake and price for a selection.

At Betfair you can still back a horse to win or place, as you would with traditional bookies, or lay horses not to win or place.

Lay betting is completely unique to Betfair Exchange. When you place a Lay bet you are betting on an outcome NOT to happen.

You are effectively offering a price that other users can Back Bet with you.

Betfair Australia offers a large range of payment methods to deposit into your account, including:

Betfair offers fast, reliable customer support and you can reach them in the following ways:

Phone: 1300BETFAIR (Aus)

Email: service@betfair.com.au

Twitter: @Betfair_Aus