Betfair was established back in 1999 in West London, UK. The idea was to incorporate stock exchange principles with Sports betting experience, where “the house” was only the middle men between players betting against each other. Its popularity rose fast, especially with the most experienced punters who saw golden opportunity to get rid of bookmaker’s margins while betting on off-track Horse race at lower commission rate.
As the site developed, Football, Tennis and then other sports started to attract more liquidity. In 2013 Betfair added Sportsbook to enter a new phase of development and now it’s possible to place your unmatched bets on the bookmaker. In 2015, Betfair and Paddy Power merged in one of the biggest deals in history of gambling to form a company worth over 5 billions of Great British Pounds.
Betfair Restricted Countries, Banking and Security
Betfair restricted countries are: USA (except Nevada, Delaware and New Jersey), Turkey, Belgium, Canada. In most other countries Betfair is not illegal or banned. Being a betting exchange it is not a classic type of bookmaker, so it is in gray area in some countries, while in some (like the UK) they are fully licenced.
Besides Bank Transfer and Credit/Debit cards, you can deposit to Betfair using Neteller, Skrill, PayPal, Web Money, Paysafecard. Current withdrawal options are: Bank Transfer, Cheque, EntroPay, Neteller, PayPal, Skrill (Moneybookers), WebMoney. Betfair accepts AUD, CAD, DKK, EUR, GBP, HKD, NOK, SEK, SGD and USD.
Considering security of your money and bets, Betfair like all betting exchanges will never mess with your account. The do not participate in risks involved in betting they just take commission on winnings. This means that there is no financial benefit from them if they limit you in any way or deny payments.
Betfair Sports Betting Bonuses
Betfair's betting exchange has a small welcome offer. Small compared to what other betting exchanges offer, but still worth of taking. If your first exchange bet loses, they will grant you a 20 GBP free bet. This offer is only available to customers registered in: Finland, Netherlands, Croatia, Norway, Iceland, Estonia, Albania, Andorra, Bosnia & Herzegovina, Lithuania, Liechtenstein, Luxembourg, Monaco, San Marino, Switzerland, Vatican City. It is valid only for Card and Paypal deposits. In order to claim this offer, you need to open an account using special promo code.
As a part of this offer, you will get another 20 GBP free bet after your 5th bet placed on betting exchange. The condition is that total amount of 5 placed bets must be 60 GBP or more and that all 5 bets are placed on odds 1.5 or higher.
In case you plan to use Betfair's sportsbook, not only betting exchange, there's a different welcome offer. They will match your first deposit made by Paypal or Card with 100% Welcome Bonus up to 100 EUR. There's a relatively small rollover tied to this offer: 3X rollover of deposit+bonus amount on odds 1.6 or higher. This offer is only available to customers residing in Finland, Netherlands, Cyprus, Croatia, Norway, Iceland, Estonia.
Betfair Review – Betting Exchange
Odds depend on the popularity of an event. If the match attracts a large number of punters, then liquidity of the market is bigger. The bigger liquidity is, the odds are bigger and very often go to 100%. Many bookmakers use Betfairs’ liquid markets as a reference point to fit in their odds bellow, in order to avoid arbitrage betting. Betting exchange offers a decent number of events in various sports, but only better ones attract enough.
- Betfair Pre-match
Their liquidity is much higher than on any other betting exchange as they capture around ¾ of whole betting exchange mamrket. Yet, this liquidity is concentrated on football, tennis and especially horse and dog racing. This means that other sports do not always come to 100% odds, it also means that side markets do not always get to 100% odds in any sport. NBA, NFL are also popular and have good liquidity. UK specific sports like Snooker and Darts often get to that magical 100% liquidity.
- Betfair Live
Live betting is very attractive in major football where you get the best price on market. Have in minf that Betfair has 5% commission rate, higher than on any betting exchange, so in first you will pay much more for odds, but that commission will drop over the time as you bet more and more.
Minor events either don't turn live in Betfair or don't have the required liquidity to make a decent bet. Live horse betting during the race is the most exciting part of their live product, but to use it properly, you need one of the betting exchange tools.
Betfair Sportsbook Features
Live streaming is one of the better ones we have encountered. It has more races than live stream of any other betting exchange or bookmaker. You can cashout betting exchange bets, which saves a lot of time and nerves in figuring out your lay bet in order to green up.Cashout is available on their sportsbook offer as well.
The best feature Betfair as a betting exchange has ever made is their sportsbook itself. It enables you to place your unmatched bets and bets on minor events where there's no interest in betting exchange.
Betfair Review Conclusion
Betfair is the top betting exchange with around 75% of market share out of several reasons. They have always been innovative and came up first with cashout, live streams, combining betting exchange with sportsbook, special betting tools. This is the true reason why they are so popular among punters. They are a bit expensive thou for a betting exchange as some other exchanges have 1.5% or 2% commission rate which turns out to be a big deal of money in the long run, in high traded volumes. Nevertheless, they are recommended for all their features and good liquidity as one of the top betting exchanges.