If you are experimenting with betting exchanges, testing new strategies, greening up, getting used to strategies, transferring money from one outcome to another at high odds or just getting used to the exchange environment then you may want to back or lay below the £2 minimum bet size. Here is how to do it.

In the following examples which include graphics I will place a bet on both the back and lay side for only 1p.

Backing at less than the minimum amount

STEP ONE - Place a bet by backing the minimum amount at "Stupid" odds. Make sure the market can accept these odds without filling your order.

STEP TWO - Go into the "My bets" section of the screen and modify you order for £2 + £amount you want. In this example you can see that we want to place a bet for 1p so I have modified the order value to £2.01 When you have done this submit this bet.

STEP THREE - The new order will enter the market. But not as one, but two orders. One bet for the original stake of £2 then another bet for 1p.

STEP FOUR - Now cancel your original bet of £2 at "Stupid" odds.

Why does this work?

Betfair operates all bets placed on the system to be put in a queue and matched on a FIFO basis. In order words if you placed a bet for £10 at 14:01 then modified the bet to £20 five minutes later the amount will be seperated into another bet and the Betfair system will place the balance at the current time 14:06. The system will show not one bet at £20, but two. One for £10 and 14:01 and another for the same amount at 14:06. This is so you can not jump the queue in order to get matched first. If bets were not put into a queing system you would have chaos in each market as everybody tried to trump each other and get to the front of the queue. It is this system that allows us to bypass the minimum bet level.