People that have never used betfair don't understand it...it is not just about backing losers it is about getting a fair price for your runners...as stated the huge price difference on the cup winner....Austote offered $5.50....the whole issue about betfair is choices it is our money and we should be able to decide where to bet it.....the tabs takeout on each race is over 15% the bookies offer worse prices than the tab most times....the TAB hold the monopoly on betting in this country....they think betfair will change that....i don't think so....all it will do is give us the smart people another choice of where to put our money.....the tabs will still make money if you don't believe me just take a look in any tab on a saturday an see all the lambs being led to the slaughter.....when right now there is much better things on offer(IAS, Sporting Bet,Betfair,Sports Acumen,Sportsbet)these are just a few that all offer better odds than the TAB but how many still bet at the TAB do you realy think one more will make that much difference...not to the tabs it won't but for us it will introduce some more liquidy in to aussie racing.

Tell me this if you could back a runner @ $5 and then lay it to another person when the price comes in to $3.50 for a profit if the horses wins or loses wouldn't you be happy.