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Summary – Betfair

Betfair is actually a betting exchange rather than a bookmaker. In fact they are the net’s premier sports betting exchange, and pioneers of the whole exchange concept. A thoroughly trustworthy and well-respected site.

NB Betfair is not open to US players.

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Betfair Sports Covered

Sports offered:Betfair offers exchange betting on

  • American Football
  • Athletics
  • Australian rules football
  • Bandy
  • Basketball
  • Boxing
  • Combat Sports
  • Cricket
  • Cycling
  • Gaelic Games
  • Greyhound Racing
  • Handball
  • Horse Racing
  • Darts
  • Hurling
  • Golf
  • Ice Hockey
  • Motor Sport
  • Pelota
  • Rowing
  • Winter Sports
  • Rugby
  • Rugby
  • Snooker and Pool
  • Soccer
  • Surfing
  • Swimming
  • Tennis
  • Trotting
  • Volleyball
  • Yachting

Betfair Sports Betting

  • Betfair is not actually a sportsbook but rather they are a betting exchange. The major difference between a betting exchange and a sportsbook is that no bookies are involved in exchange betting. Participants in a betting exchange can post their own odds or accept odds posted by other members. When a member posts odds they also specify the maximum they are willing to wager – for example posting $1,000 at 1.91 on the Penguins -0.5 means no one could accept more than $1,000 of the odds posted. If someone comes along and accepts $200 then $800 is still available for other members to accept. If a member has odds posted that have yet to be matched, they can remove or change those odds at anytime. Once odds have been accepted by another member the bet is pending and the terms can not be changed or canceled by either party.
  • What is different about betting on Betfair?

  • Betfair offer in-play wagering on most games.
  • Back or lay

  • When you “back” a selection (be it an individual, a team, horse, dog or other), you are betting that it will win. This is just like betting with a conventional bookmaker.
  • When you “lay” it, you are betting against it winning. For example, if you’re betting in a market on which team is going to win the Premiership and you lay Man Utd, then if they win you pay out. This is what bookmakers traditionally do.
  • If you are a UK registered customer you are betting through the UK exchange, which means that your bets are being matched by other Betfair customers. In this case, although Betfair knows who is on each side of every bet matched, you never know who you are betting against, as it may be a number of people matching your one bet. If you are registered with Betfair from outside the UK you are betting directly against Betfair rather than other Betfair customers , but in all cases your privacy and the confidentiality of your bets is maintained by Betfair’s secure site.
  • Choose your odds

  • If you want better odds than are currently available, you can place an order for a better price, but bear in mind that if your price is unrealistic your bet is unlikely to be accepted. Note that the odds available often improve nearer to the ‘off’ (or when the event starts) as interest and betting activity in the markets increases.
  • Commission: Betfair charges a commission of 5% (at the time of writing) minus discounts which depend on your betting activities. The more bets you place, the bigger the discount.
  • Commission is paid on your net winnings on a market. If you have a net loss on a market you do not pay commission.
  • In addition to any commission payments, Betfair customers will be charged a transaction fee if they process a large number of transactions. (more than 1000 bets an hour.)
  • Odds format: EU
  • Software provider: Proprietary software. A download is not required to place a wager.
  • Reduced Juice: Odds are posted by members of the exchange themselves. This often leads to reduced juice.
  • Overnight lines: Yes, games are opened for posting offers quite early for most markets.
  • Professional Action Limits: Betfair is a betting exchange not a bookie – Therefore they more than welcome professional action.
  • Parlay Odds: Betfair does not offer Parlays as they are a betting exchange. To the best of our knowledge there are no betting exchange which offer Parlays.
  • Teaser Odds: The same thing said about paylays applies here. Betfair does not offer teasers.

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Our Sportsbook Enjoyment Factor Rating: ★★★★☆

Also available at Betfair

  • Other exchange bets: politics, financials, weather, entertainment and other special events.
  • The Betfair site also offers:
    • Casino
    • Poker Rooms
    • Exchange Games (eg blackjack and baccarat)
    • Arcade games
    • Financial betting

Visit this sportsbook site siteStart enjoying this top quality sportsbook now. Go to Betfair

Our Software & Website Quality Rating: ★★★★★

Betfair Bonuses & Promos

  • Sign up bonus: Betfair is a discount sports exchange that profits based on charging a small commission for each wager placed. For this reason you won’t find many sign up bonuses or promotions on the sports side but will get a 100% up to £ 50 bonus which can be used in their online casino.
  • Commission is calculated by multiplying your net winnings by the Market Base Rate, as shown on the Rules tab. From this we will apply a discount. The more you bet with us the greater the discount you will receive – up to 60% for big players.
  • The size of this discount, or your Discount Rate, is determined by the number of Betfair Points you have accrued on your account. Betfair Points are earned in proportion to your betting activity – the more you bet, the more points you accrue, the greater your Discount Rate.
  • You earn Betfair Points every time you bet on a market. You will earn 1 point for every 10 pence of commission paid (if you have net winnings) or implied commission (if you have a net loss). Implied commission is calculated in exactly the same way as commission but refers to losses rather than winnings. Betfair Points are awarded equally whether you win or lose.

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Our Bonus & Promos Rating: ★★★☆☆

Management & Customer Services

About the company:

  • Betfair is owned by The Sporting Exchange Ltd – a UK company.
  • They are widely considered to be one of the most trusted and financially secure gambling companies in the world.
  • The Betfair group of companies offers a global portfolio of gambling products and services. In addition to the betting exchange these include a bookmaking operation provided from Malta, Betfair Poker, Betfair Casino and a number of exchange-enabled games.
  • Betfair won a Queen’s Award for Enterprise, in the Innovation category, during 2003 and again in 2008, in the International Trade category.
  • Betfair Limited & Betfair General Betting Limited are licensed and regulated by the UK Gambling Commission to offer betting services from the UK. Betfair Pty Ltd is licensed and regulated to offer Australian Markets by the Tasmanian Gaming Commission.
  • Languages: The site’s primary language is English. Also available: Bulgarian, Chinese, Czech, Danish, Finnish, German, Greek, Italian, Norwegian, Polish, Portuguese, Russian, Simplified Chinese, Spanish, Swedish, Turkish
  • Phone and email support is available 24/7 all year round.

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Our Customer Service Rating: ★★★★★

Money & Banking

  • Currencies Accepted:
    Australian Dollars, Canadian Dollars, Euros, Hong Kong Dollars, Krone, Kroner, Kronor, Singapore Dollars, U.K. Pounds and U.S. Dollars
  • Withdrawals: Withdrawals are available as credit back to a credit card of via bank transfer or check. The withdrawal speed is excellent.
  • Deposits: The minimum deposit at Betfair is £ 25 (or currency equivalent). They have a wide variety of deposit options include credit card, PayPal (UK only), Neteller, Moneybookers, Western Union, bank transfers and mailed personal cheques.
  • Deposit Options: Visa, MasterCard, Maestro, Visa Electron, Solo, Switch, Delta, Laser, Bank Wire, Check, Neteller, Moneybookers, Western Union, PayPal, WebMoney, Click&Buy
  • Payment Methods:

  • For Both Deposits and Withdrawals: Bank Wire Transfer, Check/Cheque, Laser, Local/Fast Bank Transfers, Maestro, MasterCard, Moneybookers, NETELLER, PayPal, Solo, Visa, Visa Delta and Visa Electron
  • For Deposits Only: BPAY, ClickandBuy, Instant Wire Transfer and Western Union

Our ‘Betfair’ Overall Rating: ★★★★½

Go win some money today at Betfair

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