Betfair is different. The Betfair Exchange connects you with punters all over the world to put up your own odds and place bets.

Paddy Power Betfair (LON:PPB) and FanDuel today announced a definitive agreement under which the companies will merge their US businesses, bringing together the leader in international sports betting and gaming and the company that redefined fantasy sports.

It works by you betting against a 'spread' which covers an outcome and consists of two prices, a 'buy' price and a 'sell' price. An example may be a predicted spread of 10 - 11 corners in a Premier League match.

A +1.5 spread is commonly seen in baseball betting, the standard runline  for MLB. This spread means the underdog must win outright or lose by exactly one run to cover the spread. Alternatively, a -1.5 spread means that the favorite must win by at least two runs. Many baseball games are decided by fewer than two runs.