In summary, to make money money on Betfair you MUST do two things. First, suck up every bit of knowledge that is available. Build up a small list of 'edges' to deploy when the time is right, understand that each of them has their place. However, the Betfair markets dictate when you will be able to use them.

To opt into paying just 2% commission, simply visit the 'My Account' section of your Betfair account and select the 'Basic' rewards plan. The 2% commission rate will be applied to your account immediately and you can start making those commission savings.

A Daily Double bet can be high risk and high reward. The payouts can be huge if you can choose two winners that aren't favorites. You can mitigate risk by introducing wheel bets that allow you to include multiple selections in one or both of the races.

The Martingale strategy involves doubling up on losing bets and reducing winning bets by half. It essentially a strategy that promotes a loss-averse mentality that tries to improve the odds of breaking even, but also increases the chances of severe and quick losses.