Betfair Sports Betting Exchange Review
Betfair opened in 2000 and is owned by The Sporting Exchange Limited. Betfair is a betting exchange, which is a bit different than sportsbooks.
At Betfair you’re able to “Back” (Bet For) or “Lay” (Bet Against) any of the odds. Exchange betting is done against other punters rather than against the house. Betfair is licensed by the Tasmanian Gaming Commission to operate in Australia and by the Lotteries & Gaming Authority in Malta to operate in most other countries throughout the world.
Opening Bonus & Promotions
The sign-up bonus is only available to certain countries at Betfair. Betfair offers a free bet of £25 to new bettors. Once you make a deposit and place your 1st bet of at least £25 Betfair will refund your bet (£25 Max) if it loses. You don’t need to worry about any rollover requirements or anything at Betfair.
I love the ongoing promotions at Betfair as well and I’m Canadian, which means most countries can access the promos. You can earn point targets during the Cash Cup promotion that Betfair runs regularly. There are also plenty of other ways to win money while playing in the promotions at Betfair including guessing the correct score of games and much more.
Range of Markets & Odds
We won’t list every sport that you can bet on at Betfair, but there isn’t much that you can’t bet on. Even the smallest leagues in Europe and Asia are available to wager on at Betfair, as bettors from around the world set the odds. Betfair often has the same odds as the leading sportsbooks, but you have to also factor in the commission. Betfair charges a 5% commission on winnings, but there are discounts available on the commission once you earn and maintain enough Betfair Points.
Betfair has the best coverage of horse racing I’ve seen as well on top of all the sports. In order to bet on Australian sports you’ll need to confirm your account by faxing in a form, but once that’s done you get bet on all of the Aussie sports. You can’t bet on exotic bets at Betfair like some other bookmakers, but you can place straight bets (Singles) and parlays (Multiples). The great thing about Betfair is you can “trade” sports and guarantee a profit before an event is finished or in some cases even started.
The features at Betfair are endless and the company is always upgrading their platform. Betfair has amazing live betting options that include a ton of different prop bets, Asian handicaps and adjusted spreads/totals. The in-play client tracks live scores and you can bet live unless the market says “Suspended”. Betfair has extensive live streaming coverage although the amount of games you can watch depends upon the country that you live in.
Betfair has mobile betting enabled as well, so you can always bet on sports regardless of where you are. Another unique feature at Betfair is the “BetChecker” feature. The BetChecker feature tracks odds at the top UK bookmakers to determine what books have the best price on events. BetChecker tracks horse racing, tennis, soccer and golf odds currently. Typically BetFair has the best price even when you consider the commission, but that’s because the UK bookmakers don’t offer reduced juice.
Customer service is excellent at BetFair and they’re not even a bookmaker. They have a huge staff of support reps that ensure everyone can wager on what they want. BetFair has a lot of great guides in the FAQ section that you should read if you’re new, but if you need help with something you can’t find an answer to you need to use the contact form at BetFair. BetFair typically takes 4 hours to answer support queries, which is much faster than the industry standard.
I love the banking at Betfair. The company is huge and they’re extremely financially stable due to the fact they make money no matter what due to the guaranteed commission they charge. There are tons of deposit methods including credit cards, debit cards, e-wallets, vouchers, bank wires and many more depending upon where you live. Some countries can even use Paypal, which is very popular in the UK. If you deposit using an e-wallet Betfair will payout withdrawals in less than 24 hours.