Betfair Exchange is the product which I've reviewed below and this is the beast which you need to tame to make massive profit in cricket or any other sport. All my cricket trading tips are mainly applicable for BF Exchange, I don't mention it each time I provide tips so you have to assume that by defalt the tips are for BF Exchange.
This is not the first time I've mentioned BF EX, I've been providing tips and guide on how to use BF EX and how to do lay betting all the time. You can find some useful tuts on my personal blog.
Before I can explain what is BF EX let's look at what is a bookie? What exactly a bookie does to you except making you bankrupt? Well before I explain what does a bookie does let's ask this question, what exactly is involved in a bet?
When you bet with someone the other guy is the one who accepts your bets. So a bet is accepted if backer's (your) bet is accepted by layer (bookie). Bookie here is the layer. You probably never thought that laying is hidden in your day-to-day betting activities.
BF EX is not a bookie. On exchange you bet with other punters. If you back a market then there should other punter(s) who lay the same market in order for you bet to be matched. Same if you lay any market there should a backer for same market for your lay bet to be matched.
In fact on BF EX you become bookie by yourself. It's it wonderful? Only if you could make other punters bankrupt like other bookies do...
The only concern for Indian customer is that it doesn't support Indian Rupees, apart from that there is no other issues for Indian punters at all.
Most of the sport and markets are available here but their may not be enough liquidity in the less popular markets. Horse Racing is the most popular sport as it offers punters an opportunity to make money all day and every day. Football & Tennis are other popular sports followed by Cricket. You can find all sort of sports here but due to low liquidity you may find them dull to trade.
For cricket the only popular market is match odds apart from match odds other markets are either not popular or don't have enough liquidity. Only most popular events such as IPL can have some liquidity in less popular markets. Most of main cricket matches are available here but you may not find less popular leagues. Try Paddy Power if you can't find them on BF EX.
The biggest problem with Cricket @ BF EX is that liquidity is very low for non-televised matches. Even for events like NatWest T20 Blast liquidity in non-televised matches is almost next to 0. IPL is very big on BF EX followed by Big Bash and other international matches.
Use BF EX only for trading on match odds or Tied match market. For rest of markets use other bookies.
Account opening is straight forward if you follow my Bible. If you are interested in opening account then make sure to read bible first or else once you screw your account there will be no option to recover it. As usual it can be a bit of pain for Indian punters to open account because of usual reasons.
The biggest problem with BF EX is that it can be down any time, specially when you are live trading. This can eventually wipe out your all profit or you can lose all your money which you have bet with depending on how you have bet.
It's not too frequent but it does happen. You might have seen my comments during live trading where I've inform you guys that BF EX is down.
Unfortunately there is no way to cope with this situation on BF Ex. When exchange is down, trading is suspended and all your unmatched bets are cancelled. The matched bets will remain effective till they are settled as per market's result.
The only way to avoid losses in such situation is to remember your betting activities and may be note it down on paper. If BF goes down then you can carry on trading on other bookies site. Well it will not be a trading but at least you'll not lose a lot.
Most of newcomers to BF EX will find it intimidating speiclally whose who haven't use any online bookie and are not aware of lay (khawo, kha lo) betting. If you have used other online betting sites and know lay betting then all you need to know is how and where to place bets.
Recently Betfair merged with Paddy Power. For user like us this merger didn't change anything except that you will find some outrageous odds on Paddy power ;) this is a secret I'm sharing. They can always balance their books from exchange. Expert punters like me know what is going on here. If you are clever you can actually exploit this opportunity to make profit from sure bet.
It takes a while to connect to their support team but they have never disappointed me. The best way to contact them is via live chat which you can find on their contact us page.
If you are serious about making profit from trading then Betfair Exchange is the place where you need to be. Barring few hiccups there are no serious cons on this site.