In 1999 Betfair revolutionised the gambling industry by introducing peer-to-peer betting. In doing so they allowed punters to access better odds than were available at traditional bookmakers.
Punters could also choose to act like the bookie by placing lay bets. This opened up a whole world of possibility. New ways to make money online were soon developed.
In 2006 Betfair arrived in the southern hemisphere with the launch of Betfair Australia…and the money making opportunities came with it.
So, what are the best approaches?
Punting With Betfair
The most obvious way to try to make money with Betfair Australia is via traditional punting…but that doesn’t mean that you will be successful.
Professional gambling is a grind. No one can pick winner after winner indefinitely. Instead, the pros just aim to make a 2-5% profit on their turnover.
With that kind of target, the odds that you receive matter a lot.
It is possible for two gamblers to place the same one hundred bets but for one to make a profit and the other to make a loss because they took bad odds.
This is where Betfair can make a difference. Their odds have been shown to be consistently better than traditional bookmakers. If you want to make money as a punter it is a no-brainer to place your bets at Betfair Australia.
Betfair Trading in Australia
Just like a stock exchange, it is possible to make money by trading on a betting exchange. This is done by backing and laying the same outcome but at different odds.
If your back odds are higher than your lay odds you will make a profit. If not you will make a loss.
This process isn’t easy, but it is a skill that can be studied and learned. As a result, there are plenty of full-time traders on Betfair, like Caan Berry.
The main problem with Betfair trading in Australia is that there are laws that prohibit in-play betting. This means that a lot of the most popular sports to trade (tennis, soccer, cricket) aren’t an option for Aussies.
The best alternative to these is horse racing. This can be traded both pre-race and in-play (in-play betting on racing is allowed).
With so many races taking place each day, a skilled trader can do very well.
However, Betfair trading is not for everyone. In fact, most people who try it end up losing money. If you are going to try it we would advise starting with very small stakes, and to get some advice from the experts first.
Matched Betting
Without betting exchanges matched betting wouldn’t exist. The ability to lay bets is what makes it possible to profit with no risk.
Fortunately we have Betfair and are able to make money online using Australia’s best side hustle.
If you are not already familiar with matched betting you should probably sign up for a free bonusbank account and read through our beginner tutorials.
However, the short version is that matched betting is the process of taking the bonus bets offered by bookmakers and turning them into risk-free cash. This is done by using Betfair to cover all outcomes.
There are so many bonuses available each week that a matched bettor can make thousands of dollars each month while working from home.
No matter what your previous experience, anyone can make money from matched betting. We have testimonials written by people, from all walks of life, whose lives have been changed by matched betting.
My own life was also hugely altered after finding matched betting.
None of this would have been possible without Betfair.
Start Making Money On Betfair
If you would like to try any of these approaches to making money online, the first thing you will need is an account with Betfair Australia.
If you want to guarantee that you make a profit you will also need a Bonusbank account.