Former champion jockey Kieren Fallon, two other riders and three other men have been acquitted of conspiracy to defraud. So what is Betfair?. Betfair Exchange Explained . Rajan bayalkoti hi iam new to interest in betting dnt mind can u plz send how to. A betting exchange is where bets placed and layed by individuals are matched against each other. This means if one person wants to back a horse at 12/1 for £5. In this instance if you oldenburg wetter 7 tage want to lay the selection at the price available, you could make an offer. Venera, SVRMALTA. Betfair Points are added to an account equally, no matter whether your bets have won or lost on the site. How Betfair's Premium Charge works. On the other hand, if the odds move against the trader he might elect to close out the bet so as to minimise his loss. Judge offers jockey luck on title.