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Membership Options. The Syndicate. Free Information. What is Betfair? Betfair is an exchange, which means you are betting against other punters, not against a bookie. It is as simple as placing a fixed odds bet, you click on the current price, state how much you want to bet, and back it. They even have a Betfair SP option for those who want to bet and forget, and you get set at the SP price determined from punters on the exchange.
But as you get more into it, you can set a price you want to back a horse at, and if someone else accepts that price, your bet is matched and you're set. How is Betfair different to Corporate Bookies? Being a betting exchange, Betfair Australia receive small commissions on winning bets. However Betfair Australia only receive commissions on winning bets made by people in Australia and New Zealand. If those punters are actually losing versus their counterparts in the UK and other countries all around the world, then the commissions are small, as the winners are betting through Betfair UK.
The idea was to oust the bookmaker from what was considered its main role and replace him with the ordinary punter. This idea was materialised by the Betfair betting exchange platform, where punters can set odds and bet among themselves, with Betfair claiming a small fee for the service.
Betfair filled a market hole, which it continues to occupy today and is recognised as one of the biggest betting companies around. This is clearly reflected by the quality of their website. For one, it is completely devoid of clutter and has many useful features that give users control over how they use it.
Once users register, they receive access to all the available website functions, including the option to personalise the interface and set their feature preferences. Via the control panel, they can also build a custom feed to receive the latest betting tips, tutorials and news from the Betfair blog. Navigation around the site content is also very easy. Punters can simply click on a sports category of interest, found on the left side of the screen, and they will see all the events planned for the day.
A simple click on the odds will send them to the quick-bet tab. Betfair is hard to beat for a variety of betting markets offered. Most experienced reviewers would agree that their consistent presence in Top 3 lists for bookies with most sports covered is wholeheartedly deserved.
Their strong focus on market diversity is rooted in the knowledge that not every punter wishes to bet on mainstream sports. There are plenty of punters, who have deep knowledge of local sports and events and want to bring that to fruition. Thus, on top of popular markets that every other bookmaker makes available, such as national and club football, horse racing, tennis, basketball, American football, Betfair opens the doors to betting on financial markets, eSports, virtual sports, Nordic sports, and many others.
Cash-Out — With the Cash Out function punters can end their bets prematurely to prevent losses or secure winnings. Match Live — This feature provides a dedicated page for your in-play bets, where you can stay on top of the latest action, analyse team and player performance, and manage live bets. My Betfair Rewards — Betfair offer new promotions every week. This tool allows betting exchange players to set their preferences and get notified about new or upcoming promotions.
Live Streaming — Like any other big bookmaker, Betfair offers a live streaming service to customers. Punters simply need to place a bet on an event to receive full access to its dedicated live streaming page. Mobile Betting — The Betfair specialised apps provide bettors with a convenient platform to make quick bets and follow the action.
They can be downloaded from all the major app stores. Around 16 betting in-play markets are available at Betfair. The Betfair in-play allows punters to bet both for and against a chosen party at very favourable odds! The Match Live feature is well-thought-out and gives them all the information they need to be on top of their bets amid all the dynamics of the action. To back their decisions in real-time, punters can also take advantage of excellent quality streaming of live events.
Betfair covers most common methods of deposit and withdrawal. All withdrawals undergo security clearances. Their limit can be renegotiated under some circumstances — for this punters need to speak with the Betfair customer support staff. Transactions are free of charge and generally take up to 24 hours, except bank wires which could take up to 5 business days. Betfair offers decent odds all across the board, but it is their exchange betting section that steals the show. Furthermore, there a number of incentives and discounts off the commission for active players.
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