The first-ever betting exchange was Betfair. Available to this day, Betfair has managed to stay alive and become the best betting exchange in the world. Its success has spawned numerous followers such as Betdaq to join the market. However, this particular industry is still ruled by Betfair.
Continue reading our Betfair review below to learn more about how it works and what it has to offer. Key points:
- Has a betting exchange and a sportsbook.
- Great odds.
- Two welcome offers.
- Licensed by top jurisdictions.
What is Betfair?
An online gambling company established in 2000, Betfair is both a sportsbook and a betting exchange. It’s one of the best in the business, too, according to many Betfair reviews. By playing both sides, the betting site accommodates thousands of UK punters.
Betfair offers both fixed odds betting and a betting exchange. In the beginning, it was only available in the UK. It has since spread to many other parts of the world, now having headquarters in Dublin beside the main HQ in London.
Since the beginning, Betfair attracted a lot of interest among UK punters. The Betfair sports betting section has received a lot of attention from punters and review sites. It didn’t take a lot of time before it ranked among the top bookies in the business.
But, what is about the Exchange? If you’re asking yourself the question – how does Betfair Exchange work? – you’re not alone. Plenty of punters don’t know the difference between exchanges and sportsbooks. When you bet at an online bookie, you’re betting against the bookie itself. With betting exchanges, you buy and sell odds against other punters, which is the most significant difference between both.
The odds at a betting exchange depend on the number of bets bought and sold. It means fairer odds, which is why many punters are far more interested in betting exchanges than sportsbooks.
Betfair Website and How to Sign up
If you think that a betting exchange such as Betfair differs from online bookies, you’re wrong. In terms of layout and design, the two are very similar. You can create an account by clicking on the Betfair betting Exchange Join Now button, which should be pretty easy to spot. From there, you only need to follow the on-screen instructions to start betting.
Once you’re in, you can decide if you want to bet on the sportsbook or the exchange. The Betfair fixed odds markets are pretty easy to find, and the overall layout and design make things easy, even for beginners. Just log in and let the site take care of everything. You won’t find it hard to place bets in an instant.
No matter if you’re playing at the Betfair sportsbook or the exchange, you will need a funded account. As a reputable operator, Betfair has partnered with nothing but safe and secure payment providers. These include the biggest debit and credit cards as well as bank transfers and e-wallets. No Bitcoin betting at this site, but the options at your disposal should satisfy your taste.
Below you can learn more about Betfair deposits and withdrawals and how to process both.
As mentioned, the world’s biggest betting exchange has partnered with numerous popular payment providers to deliver a list of excellent deposit methods.
As you can see, you can use debit cards, prepaid credit cards, or other types of banking options to fund your account. You can also play PayPal bets. Keep in mind; you can’t use MasterCard credit cards to make deposits or withdraw if you come from the UK.
When it comes to the minimum deposit, you can check it out for each at the Deposit page.
Won a Betfair accumulator against all odds? Congrats! You’ll probably like to get that money out ASAP. The betting exchange will automatically issue your withdrawals to the deposit option you used. If that’s not possible, you will be contacted by the customer support team to change it.
The withdrawal time is usually instant for e-wallets and may take a few days, depending on the payment method.
One of Betfair’s best things is that it’s quite a generous website, to begin with. You’ll be getting two different types of promos – some for the exchange, others for the sportsbook. The Betfair sign-up bonus is a Bet £20 Get £5 offer, which gives you a small yet useful free bet to start your career at the site.
The welcome bonus is available on both the exchange and sportsbook. The free bet will be awarded at wager settlement and allow you to start a free bet streak that will go on as long as you’re winning your bet slips.
Betfair Free Bets
These days, most bookies offer free bets for beginners that rarely go beyond the Bet 10 Get 30 deal. Not Betfair, though. The betting exchange/bookie still has a free wager to offer, but this time, it’s a Bet 20 Get 5 offer. And, while it may not look that exciting, it’s a bet you should go for as it allows you to build a free bet streak.
As long as you opt-in to the promo and win your free bets, you’ll be getting more in return. The streak will only stop when you stop winning. If you’re lucky, that could be in a while, so this is something you should take a look at.
Betfair Welcome Bonus
As mentioned, the Betfair welcome bonus is a free bet that you get regardless of the side you pick – the exchange or sportsbook. It is one of the coolest Betfair promotions you’ll find on the site since it allows you to start a free bet streak.
Of course, it’s not the only promotion you’ll find there. There’s a refer-a-friend bonus, Premier League promos, and horse racing promotions as well.
To put it simply, Betfair is quite a great betting site. Thanks to the two Betfair new customers offers, you’ll be getting double the money when you join.
What to Bet On
We already mentioned that Betfair features both a sportsbook and a betting exchange. All of the sports are available cross-platform. It means that it doesn’t matter if you want to place a lay bet or bet on fixed-odds – you can find both at Betfair.
Let’s start with the bookmaker. It has a total of 33 sports starting with football and ending with rugby union matches. Of course, it features everything in between UK punters will love, including horse and greyhound races. Better yet, there are special promos for a variety of races across the UK, Ireland, Australia, and all over the world. It makes it a hit for those who love to bet on this thrilling sport.
If you want to lay and back the odds, you can do it at the betting exchange. Betfair is a pretty complete betting site so that you won’t find anything missing.
While the site has a poker room, casino, and a live casino, Betfair is primarily known as a sportsbook and betting exchange. The Betfair fixed odds section is most popular with UK punters. The betting exchange is pretty neat, too, if you want to try something completely different.
With over 30 sports on offer, there are plenty of exciting markets you can place your bets in. Don’t just stick to the Premier or the Champions League. There’s a whole world of wagers out there, and you should explore the website in-depth.
The list of sports available at the site starts with football. That goes for the fixed odds and in-play betting sections. As a London-based bookie, that shouldn’t be surprising. After all, the Premier League is the most popular sports event to bet on, so most of the markets are located there.
All of the weekly matches are available with hundreds of markets in tow. During our Betfair sportsbook review, we saw no PL action missing. From 1×2 to handicaps and beyond, the list of markets is pretty extensive. You can bet on outrights or go for other markets such as both teams to score, O/U, goals, first-half goals, final scores, and more.
And that’s just the beginning. If you’re not a football fan, you can bet on all the exciting action in tennis Grand Slams or predict who wins the NBA title next season. Betfair truly has it all, and when you consider the betting exchange, it’s a perfect bookmaker for all types of punters.
Sports Leagues, Competitions, and Events at Betfair
While the Premier League takes the stage front and center at Betfair, there’s plenty of other action going on. There are major and minor leagues, competitions, and events on nearly every sport you can imagine. If you’re looking to bet on the World Cup or the Euro Championships, you can do it at Betfair with ease.
Tennis? Bet on the Grand Slams with ease. MMA? You can bet on all the upcoming events all over the world. If you’re into horse racing, you can count on great Betfair odds on all the biggest horse races across the UK.
That’s what makes Betfair so great. The number of competitions can throw punches with the best in the business. Thanks to the betting exchange, Betfair has another trick up its sleeve. And that’s before you even get to cricket live betting in the in-play markets. That’s the real treasure this site hides.
Why bet exclusively on sports when other markets may feature better odds? Take politics, for example. With many countries around the world in turmoil right now, elections are taking place pretty often. The US elections are coming up fast, and if you believe you know who’ll win, you can try your talents at Betfair’s politics markets. Make your pick, and if you’re lucky, you can win a nice sum in return.
These are a significant departure from the world of sports and often come with great odds attached. It’s not just about politics. You can bet on transfer specials any winter and summer transfer period when there’s plenty of exciting markets to back or lay. As a cherry on the top, Betfair offers Love Island betting and is most likely one of the very few bookies to do so.
As one of the most exciting betting markets at the moment, Betfair has Esports betting events in both the sportsbook and the exchange. They’re both great, too, covering pretty much any major event in Esports at great odds.
Esports is not one bit as popular as football, but that’s not a problem. Thanks to the fact that not many punters are interested in it (or consider it a sport), the odds on these events can be pretty nice. If you get great value odds at Esports events such as CS: GO or DOTA 2 tournaments, you should go for it.
With plenty of competitions on offer and great odds, Esports is a pretty interesting market.
Betfair Live Betting
The Betfair in-play betting experience is nothing short of amazing. You get plenty of markets to bet on, and it’s just as easy as placing a regular bet. Nothing beats live betting once you try it. It’s a hugely exciting market, thanks to the fact that you can adjust your wagers midway through the match.
There’s a huge variety of live betting markets at the site. It matches what you get in the fixed odds markets, so you shouldn’t miss anything. From what we could see, the odds are great and in line with what betting giants offer. The live betting experience at Betfair has been enhanced with live streaming on a wide range of events.
Registered users at Betfair can enjoy live streaming at the site. It’s a great addition to an already great live betting system. Once you place a Betfair live bet, you can sit back and relax and watch the game directly from your browser instead of going through hundreds of TV channels.
Watching the game live is excellent from several angles. While live stats and results give you an insight into the action, nothing is better than watching the match live. You can see who’s putting the pressure on whom and adjust your bets accordingly. If things aren’t going your way, you can use the cash out feature (where available) to collect part of your winnings.
Thanks to Betfair live streaming, you can be a winner too.
Betfair Exchange Mobile Site
Betfair betting Exchange and sportsbook are available on a mobile platform for all kinds of devices. You can bet from your Android or iOS smartphone or tablet without the need to download any software.
It’s easy, it’s fun, and it works fast. During our Betfair review, we tried the mobile betting website from various devices, and it performed flawlessly.
If you want to experience betting as the bookie intended, you’ll install any of its apps.
Betfair Mobile App
While most bookies offer a betting app or a mobile website, Betfair has gone the distance with many apps to pick from. All available from the site, the wide range of apps includes everything from trading apps to betting assistants and beyond.
The cool thing about Betfair mobile app director is that you can filter them all per category. Betflow, for example, is an app that focuses on analysis and tips. BetrBets shares the knowledge of pros. Social betting is available on Betsplit. There are dozens of Betfair apps to download and install and enjoy a truly authentic mobile betting experience.
You can download the Betfair Exchange app by visiting the site and following the instructions. It works across all devices, including Android and iOS smartphones and tablets.
Betfair Pros & Cons
While Betfair is a site that almost has no cons, it’s still not without flaws. On the plus side, you’re getting both a sportsbook and a betting exchange with industry-leading odds. The variety of markets is astounding, and there are live betting and streaming too.
With that being said, the variety of markets can also be negative. The vast markets mean those beginner punters won’t know where to start. Surprisingly, Betfair has a policy that implements premium charges if you win too much in your betting career. If you get over winnings of £250,000, the commission goes up from 5% to a whopping 60%.
A VIP customer is usually treated better, so we’re surprised to see Betfair’s commission go up on players with huge career winnings.
Betfair Exchange Cash out
Available on selected matches and sports, Betfair cash out feature works perfectly when things aren’t going your way. You can’t use it on all games, but those you apply are marked at the site.
Look for the Cash Out available notice under matches and events if you’re using this great feature often.
Sportsbook vs. Exchange: What Works Better for You?
That depends solely on your preferences. Sportsbooks have been around for a long time and are favourites among UK punters. Joining the site also entitles you to the great Betfair sportsbook free bet, which will put extra cash in your pocket straight away.
However, breaking free from the routine is sometimes a great thing to do. If you want to try a different sports betting experience, the Betfair betting Exchange is a great choice. It’ll show you another world of online sports betting you don’t get with other bookies. Plus, a change is always welcome – sports betting can sometimes be too bland.
Other Betfair Products
As mentioned previously, Betfair is more than just a sportsbook. It also owns a poker room, casino, and live casino, so it’s the complete betting product. The casino comes with its promo section that offers great deals and even no deposit bonuses. It’s a great pick and once again shows how serious a betting product Betfair is.
In the live casino, you’ll be getting the full Vegas experience. Keep in mind that the rules for these games are a bit different. You can’t play them for free, so you’ll need a funded account for the live casino. On the other hand, free play is available on hundreds of slots so you can have fun without spending cash.
Contacts & Customer Support
It wouldn’t be too much to say that Betfair customer support is industry-leading. The Help center has won numerous awards and is pretty comprehensive in many details. You can get in touch with the customer support representative by writing to the site’s email address or using the live chat.
|Support email||[email protected]|
|Support Phone Number||+44 203 059 8888|
The FAQ-Help section should be your first choice, though. It offers plenty of information on different topics such as refunds, verification procedures, and anything else. You can even learn a few Betfair betting tips and tricks that will hopefully help you win more.
If you run into problems at the site and your answer is not there, live chat support is your best and fastest option. Additionally, the site has a forum with a pretty great community where you can learn news or share betting tips and tricks with others.
Betfair truly is one of the best in the business. A legal website that can trade blows with the best UK bookies such as Coral and Betfred, it’s also got an ace in its sleeve others don’t – a betting exchange. Exchanges offer an exciting way of betting online. Instead of betting against the bookie, you lay and back odds against community members for a great value. It’s a pretty fun departure from regular betting and a market you should try.
Thanks to superb and unique features such as the Betfair bet of the day, the betting site is a champ for many UK punters. Pools of markets await you when you join; each one is more exciting than the other. We hope that our Betfair review has given you plenty of thought about joining this bookie. Trust us – you won’t regret it.
Frequently Asked Questions
- Is Betfair reliable?
Yes, Betfair is a 100% safe and reliable bookmaker. The site is licensed by the UKGC and MGA, two of the biggest regulatory bodies in online betting.
- How does the Betfair Exchange work?
The Betfair Exchange works by allowing customers to bet against each other rather than against a bookie. You lay and back odds on a great value match, which is an interesting change from sportsbook betting.
- Can you make money on Betfair Exchange?
Yes, of course, you can make money on the Betfair Exchange. If you know your way around sports betting, you can make cash on the Exchange too.
- Does Betfair Exchange ban winners?
No, so far, there have been no reports on the Betfair Exchange banning winners.
- How does a lay bet work on Betfair?
Lay betting at Betfair means betting on something not to happen. Place a lay bet on a team to win a match, and the bet will be settled as a winner if it loses or the game ends in a draw.
- Is Betfair legal in the USA?
Yes, the site can be accessed by punters from Nevada, NJ, or Delaware via the Betfair-owned TVG Company.