FairLay provides risk takers with another take on the conventional bitcoin casino. FairLay is a bitcoin-based betting exchange and prediction market. In a betting exchange, players make bets against each other and not the house. FairLay acts as a sportsbook and includes odds on major events. Traditional casino games are not available for players.
FairLay accepts risk takers from across the globe, including the United States, to place wagers on everything and anything.
FairLay does offer new players with the standard 100% match on the initial deposit. Although not advertised, players must make a 1 mBTC deposit before FairLay deposits an equal amount into your player account.
For players, the lack of promotions may seem like a negative, but FairLay decided to limit promotions to provide players with better odds! Because FairLay takes a lower commission, there are more winnings for you!
How to Use FairLay
FairLay is technically a betting exchange. In a betting exchange, players do not play against the house. Players make wagers against other players. There are two fundamental functions in a betting exchange, which are the back and the lay.
- Backers bet that the outcome will happen.
- Layers bet that the outcome will not happen.
Essentially, the backers bet against the layers on any individual event that takes place.
In betting exchanges, and FairLay in particular, there are better odds because FairLay takes about a 1% commission. In fact, FairLay provides gamers with just about the best odds around – around 10% better than the industry standard.
As you gain more confidence in betting exchanges, then players can utilize both the backer and layer position to hedge bets. Like all sportsbooks, the odds change over time, so players can bet with the backers as the odds rise and cover with a layer bet as well.
Games on FairLay
FairLay provides players with unique options to bet on a variety of events. For most players, FairLay acts as a sportsbook. FairLay was ranked as the #1 sportsbook in some bitcoin forums because they do not charge any fees on sports bets.
However, risk takers of all sizes can find odds on the fluctuations in the price of bitcoin, along with current events.
Although the user experience is not much, the functionality focuses on the various types of wagers that can be placed and when the action closes.
Interestingly, FairLay allows registered players to post new events. You can action on anything and everything with FairLay!
FairLay is pretty new to the industry and the site is still in beta. However, as they work the kinks out of some design and user experience, there is an open forum and FAQ for users to post questions. For some players, the betting exchange concept might be fairly new, so the FAQ section covers a range of topics to help explain how the site works.
FairLay Pros and Cons
As a prediction market and betting exchange, if you are looking for traditional casino games and slots, then FairLay is not the best option for your needs. If you are looking for a change of pace, then FairLay provides players with a host of wagers, including current events and sports.