Betfair aren’t your typical online bookmaker, infact they’re not an online bookmaker at all. Betfair are actually a betting exchange – and the world’s largest betting exchange at that.
So what’s the difference between a bookmaker and a betting exchange? With a bookmaker you’re simple betting against the bookie. Whereas with Betfair, you’re betting against other Betfair customers. This means that Betfair have zero liability and only take a commission on winning bets.
This also means you’re far more likely to get better odds than you would with your typical online bookmaker as Betfair don’t need to make a margin for profit on each market.
During their time in the industry Betfair have become a pivotal park of the landscape and continue to attract many new customers.
Betfair.com.au Bonus Bet Back
While online bookmakers often attract new customers with lucrative sign-up bonuses, Betfair attract punters with their great odds, betting tools and overall service.
That’s not to say that they don’t offer great promotions.
Betfair pride themselves on providing punters with the best tools available to give you the best chance to win.
Unlike online bookmakers, Betfair make their money by taking a commission on winnings – rather than needing punters to win in order to make profit.
This is one of the many reasons why punters often prefer to bet on a betting exchange such as Betfair.
Betfair Bookmaker Overview
Table of Contents
- Betfair Overview
- Betfair Sign-Up Bonus
- Betfair Australia Details
- Betfair Markets
- Betfair App
- Betfair Live Streaming
- Betfair In-Play Betting
- Betfair Restrictions
- Betfair Pros and Cons
As mentioned, Betfair was first launched in 2000 by Edward Wray and Andrew Black when they decided to build a new and better way for punters to place their bets on popular and widely favorite sporting events and matches. And while most bookmakers are the one setting the odds for every match and event, the founders of Betfair aims to put that decision in the hand of punters or bettors.
Betfair has largely focused its efforts on gambling markets in the UK and Europe, where soccer is not just a popular sport for sports fans but in the betting world as well. Betfair has two gaming licenses, one of the UK and the other is from Malta, which proves that the company is one of the most reputable there is in the gaming industry.
In particular, the license from the UK Gambling Commission is one of the hardest licenses to get with all the requirements and due diligence that needs to be completed. One of the main requirements is that the site has to be highly secure, especially when it comes to the money of users.
Betfair was taken public and listed on the London Stock Exchange in 2010, which allowed the business to significantly increase its capital and further strengthen its hold as a giant in the gaming space.
In 2014, Betfair was among the few online gaming platforms to gain a license that allows them to operate in New Jersey, one in the small list of US states that allows internet gambling, although with a regulation in place. Although the license only covers the casino part of Betfair, it has been a strong foothold for the company as it tries to enter back into the US gaming market.
Betfair also announced on February 2,2016, that it is going to join forces with Paddy Power, an online gaming giant in Europe. With the merger, the net result is being the largest company on any regulated online gaming company in terms of revenue.
Betfair Sign-Up Bonus
New customers who join Betfair get a sign-up bonus of up to $500. The bonus is awarded by giving you a 20% boost on each winning bet you get for the first seven days. The bonus is provided to each customer up to a maximum of $500. However, the Betfair bonus is not available to residents of NSW, WA, VIC, and SA.
Betfair Australia Details
Betfair is owned by Betfair Group Plc, a UK company founded in 1999. It began its online betting exchange activities in 2000. Betfair is quite unlike other online bookmakers such as Ladbrokes and Bet365 because they are a betting exchange platform where customers choose whether to bet on a given selection or act as a bookmaker and create their selections instead. In a betting exchange, the members set odds for an event while others place bets on those odds. You act either as a punter or a bookmaker. Here are some of the key details about Betfair:
- Deposit options: Credit or Debit cards, Skrill, Neteller, BPAY, Bank transfer, and POLi
- Withdrawal options: Skrill, Neteller, Bank transfer
- There are no transaction fees
- Currencies accepted include AUD, EUR, USD, GBP, CAD, DKK, HKD, SGD
- Languages: English, Deutsch, Spanish, Italian, Norsk, Polish, Turkish, Portuguese, and many more
- Odds format: Decimal
- Minimum bet: Online exchange bets $5.00 and $5.00 for bets placed over the phone
- Mobile version and app available too
- No Inactive Account Fee for Australian customers
Betfair provides Australian customers with a wide range of sports to wager on. Their exchange platform features both pre-match and in-play selections of the most popular leagues across the world. You’ll find every league, tournament, and sporting activity at Betfair, from the AFL, A-League, NRL, and Super Rugby to horse, harness, and greyhound racing. All the popular international leagues such as the English Premier League, La Liga, Series A, NFL, MLB, NHL, and tennis tournaments are prominently covered in Betfair.
There are also additional betting selections for all customers, including Alternative Handicap Basketball, Asian Bets, Alternative Handicap Tennis, Corners, Cards, and Players Points Basketball.
Betfair provides its customers with a functional mobile app to help them in their betting and trading activities. There are several apps for both Android and iPhone mobile platforms that allow customers to bet and trade on the Betfair platform with much ease. The apps can also help you to find value opportunities provided on the Betfair markets. Find an app that suits your betting or trading needs on the Betfair App Directory. You can search by category, platform, sport, or price.
Betfair Live Streaming
Betfair provides customers with live streaming of selected events via Betfair Live Video. To enjoy live streaming, you’ll need to fund your account first.
There are only very few bookmakers that support a comprehensive live streaming feature to all its members, and you can find that in Betfair. The service can be accessed as easy as clicking on the Live Video tab, which you can find on the Sports page.
And while you need to fund your account before you can get access to this service, it is worth the price, especially with the range of events available for live streaming. It includes various horse races, international cricket, and many football matches from all over the world. You also won’t miss any upcoming matches and sporting events as well as there is a dedicated list on the right window of what you can live stream at what time.
Aside from funding your account, however, you are also required to have a minimum of five euros amount of bet on the horse race of a minimum of 50p bookmaker bet.
Betfair In-Play Betting
Betfair features an in-play betting section, which is one of the most impressive aspects of its website. This service offers customers everything they will ever need to ensure a seamless and intuitive experience when betting or trading sports live.
The in-play betting service can easily be accessed by simply going into the main page of the site and clicking on the match or event in question. From there, you will find all the odds, which usually changes as the match or event progresses.
The odds for every match and event automatically refreshes every few seconds, which is much easier for punters to keep track of markets. The in-play betting and trading in Betfair is a well-loved feature for a lot of professional gamblers online. It is considered as a money-making platform, and one of the best in the world of sports gambling.
And while this service is great when gambling and trading through your desktop, it is also accessible while you are on the go through the Betfair mobile app.
With the two licenses that Betfair holds from two gaming jurisdictions, there are a couple of restrictions that come with it, mainly regarding who can access the games they offer. The current list of restricted countries in Betfair includes Afghanistan, Antigua and Barbuda, Austria, Angola, China, Canada, Czech Republic, Spain, Algeria, France, Guam, Greece, Guyana, Israel, Hong Kong, Iran, Iraq, Japan, Portugal, Singapore, Puerto Rico, United States, Turkey, Zimbabwe, and South Africa.
However, this list is constantly changing, which largely depends on the boundaries that the regulatory boards are trying to impose.
Overall Betfair offer a great point of difference compared to your typical betting experience.
Their excellent odds are generally far more competitive than online bookmakers which is one reason why punters love Betfair.
The overall experience with both their website and mobile apps has proven to be very positive experience among their customers so it’s no surprise to see Betfair continuing to grow.
How do I sign up with Betfair?
It’s never been easier to join Betfair! You can register at Betfair in a matter of minutes and start betting on your account instantly!
Why should i bet with Betfair?
Do Betfair offer Sign-Up Offers for new customers?
Unfortunately, No. Betfair do not offer new customers a sign-up bonus regardless of what state you’re in. Recent legislation introduced prevents all Australian bookmakers from offering new customers incentives to bet, this includes Betfair.
Betfair online betting exchange makes it possible to bet both for and against possible outcomes, which makes hedging extremely easy. It is a great platform for tournament betting. They also have a good Betfair sign up bonus structure that you can take advantage of to place more free be