Betfair is one of the world’s leading betting platforms but be warned – it’s either up your alley or it isn’t. If you are a recreational punter then Betfair can be a bit overwhelming and the fact they don’t have an offering that provides money back specials and bonus bets makes them totally unique from the corporates. That said, the fact you can Back and Lay horses and sporting events is a great way to bet and with the added bonus of earning points, endless live streaming events and tremendous value, it is a no-brainer that Betfair is considered to be one of the big boys of the industry.
- Huge variety of markets
- Wide selection of live streaming events from overseas
- Can find great value in many of their markets
- Lay betting
- Cash Out
- The Hub – a wealth of betting information from an expert’s point of view
- Betfair SP
- Earn points to reduce the commission you pay
- Can be overwhelming for the amateur punter
- Desktop is far better to use than mobile app
- Lack of promotions, money back specials
- Pay commission on winnings
Betfair is definitely not for the faint hearted. The peer-to-peer betting platform lets you back horses, sporting teams and events to win as well as lose – and that is where it can be a little tricky if you aren’t an experienced punter. Betfair’s offering is totally different to traditional corporate bookmakers and the fact you can back events to lose (Lay betting) gives them a unique point of difference. We can see why many expert punters prefer to use Betfair because of their huge product offering, excellent value and information-rich hub which contains endless information across racing and sport. Punters tend to find better value on Betfair because you only play commission on winnings and this commission can be reduced the more times you wager.
Betfair is the world’s largest, and Australia’s only, peer-to-peer wagering platform. Founded in 2000 by Andrew Black and Edward Wray in the UK, Betfair grew rapidly in its formative years as punters were exposed to an exciting new betting platform which followed the acquisition of Timeform and TVG Network in the US. A float on the London Stock Exchange in 2009 established Betfair as one of the premier wagering platforms in the world. In 2015, it was announced that Paddy Power and Betfair were merging to form one of the biggest betting operators on the planet. Their entry to the Australian market occurred in 2005 off the back of the Tasmanian government granting them a wagering licence. Crown Resorts owns and operates the Betfair licence in Australia.
- BACK BETTING. Back a team, horse or event to win.
- LAY BETTING. You can back a team, horse or event to lose.
- BETFAIR SP. Get a great price with Betfair SP whether you are a Back or Lay punter.
- THE HUB. A fantastic information portal of punters of all shapes and sizes.
- REWARDS. Earn points for every bet you place.
- CASH OUT. Get out of your bet early with this great product.
- BETFAIR RACING SIMULATOR. A brilliant tool that takes speed maps one step further.
- REWARD POINTS. Earn points for every bet you place
Betfair is definitely a unique player in the global wagering space. They stand apart from the rest because of their offering to punters of ‘Back’ and ‘Lay’ betting with the latter always angst amongst officials since their launch in Australia back in 2005. Essentially its one punter’s opinion versus another on Betfair, with the platform itself an intermediary between two parties. That is where the difference with betting with them and corporate bookmakers is. Betfair don’t compete on product, money back specials or even bonus bets but their offering is enough for you to want to open an account and play around. It is definitely one for the more seasoned punter and expert. Trying to get a handle of the commission you pay on winnings and the use of Betfair Points is hard at first but gets easier once you get into the swing of things.
Overall rating: 3.5 out of 5.
Credit Card, POLi, BPAY, Neteller, Skrill, Bank Transfer
Credit Card, Bank Transfer (2-5 working days)
Skrill, Neteller (up to 24 hours)
Australian dollars (AUD)
Various international horse racing, greyhound racing and sports including soccer, darts, tennis, snooker
Credit Card - $10
POLi - $5
BPAY, Bank Transfer - $30
Neteller - $25
Skrill - $15
Sport $5, Racing $5
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iPhone and Android available
Email, Live Chat, Twitter (@BetfairCS), Ph: 132238 (24/7)