Read the following Betfair Review for a full overview of the best betting features of the world’s biggest betting exchange. Betfair is a unique option for punters, compared to a traditional bookmaker.
Betfair operates much like a stockbroker who buys and sells shares on the Stock Exchange. Back, Lay or Trade on the exchange and this review will detail exactly how Betfair is different.
Betfair has a wide-range of products to enhance your betting experience including in-play betting, cash out, The Hub, live streaming, a mobile app and more.
Continue reading to learn more about Betfair.
Let’s assume you and a friend Adam decide to have a bet on a football match. You want to back Collingwood and Adam wants to back Carlton. Another friend Damian is going to hold the money for the bet, and he will receive a small commission on the winning bet for doing so.
Betfair is much like your friend Damian, holding bets for punters across the globe and taking a 2% to 5% commission on all winning bets.
What this means for punters is much better odds than the TAB because the money does not go into a big pool where a large chunk is taken out before dividends are declared.
It’s punter versus punter directly, and that’s why Betfair odds means BIGGER WINS for punters!
Join Betfair right now and start getting the best odds for your bet.
How Betfair differs from corporate bookmakers is the ability to back your selection to win or Lay it to lose. Lay betting is exclusive to Betfair and means you are betting on something to not win, that’s the simple explanation.
Instead of backing a sports team or horse to win a match or race, with lay betting you can bet on either to lose. So basically it’s the total opposite of traditional betting where you place a bet on a team or horse to win.
The key with successful lay betting is to find the best odds for something that you think won’t win. To lay a team or horse in a race, you must have the funds in your account in the event of a win.
Find out more about lay betting when you join Betfair.
The betting exchange promotions are designed to enhance punter experience in a positive way. The Betfair SP (BSP), or Starting Price claims to pay around 17% better odds than the TAB on average. Betfair Starting Price benefits include higher odds, quickly matched bets, minimum & maximum odds limits, and no unmatched or partially matched bet.
Betfair provides a comprehensive betting advice section of their website via ‘The Hub‘.
Exclusive to Betfair, The Hub is a selection of news, getting started guides and more to help you become the best punter possible during your Betfair experience.
The Betfair Insider is a great feature of the Hub and provides in-depth betting advice for punters. The Insider will preview the upcoming sports or racing events and give a full overview of the event, with statistics included.
The Betfair Data Scientist provides a statistical strategy towards betting and aims to predict the best outcome.
In the Betting Better section, you can learn more about basic betting strategy, racing strategy, sports betting strategy and lay strategies.
The main sports Betfair focuses on is Tennis and Cricket betting strategies. For racing, they provide tips for horse racing trading, pricing a market and advanced in-play betting strategy. In the lay strategies section, you will learn lay betting tactics and advanced lay functionality.
The Hub also provides useful guides for depositing and withdrawing funds online from your Betfair account.
Join Betfair now and start improving your betting knowledge.
Betfair offers Cash Out so you can take the profit before the bet finishes. The option is available when a market has fluctuated, and the odds have changed.
The price of the Cash Out is based on the bet liability and the amount of profit you will gain by cashing out. Then the liability and profit are calculated to provide the final Cash Out price. When Cash Out is available for a market, it will display in the pending bets section.
Start cashing out with Betfair and take the profit!
Another feature by Betfair is the ability to watch Live streaming directly from your computer. With Live streaming, you can watch live sports or racing from around the globe.
You location dictates watchable live events, and some can be unavailable due to the geographical location.
Watch Live streaming and bet at the same time!
Betfair is one of the best options for betting on racing in Australia or overseas. They have a huge range of useful products that are designed to help you win more.
The first of those products is the Betfair Starting Price option, which aims to offer a better price compared to the Tote. The difference with Betfair’s starting price is the odds are determined by the betting market instead of the on-course bookmaker price. The Betfair Starting Price is available for thoroughbred, harness and greyhound racing both in Australia, New Zealand and Overseas.
They also have a Racing Prediction Model which uses statistics to determine which runner to back. The predictions will assist with finding value bets and aims to predict the race before it begins!
Bet on Racing with Betfair and boost your odds!
Bet on live sports or racing online with Betfair. Available on selected events with the “In Play” message, in-play betting has the potential to gain the best odds not possible before the event.
The main advantage of betting in-play is the opportunity to get bigger odds if the bet wins. For example, Betfair uses the 2014 Melbourne Cup race as an example where the winners starting price was $8.00, yet an in-play bet would have almost doubled your odds at a higher price of $15.00.
Betting in-play online is not available for sports in Australia however you can still bet over the phone. While online and phone betting is available for Australian and International thoroughbred or harness racing. A phone bet will need to be over $50 to be accepted.
Bet in-play on sports or racing at Betfair!
With the Betfair Mobile, app, you have the ability to keep track of your bets from your mobile device. The app allows for backing and laying bets, viewing market percentages or market rules and deposit/withdrawing options. The deposit option links to a separate website for secure depositing. You can choose between a credit/debit card deposit or select alternative methods.
When you first login on the app, the homepage will display featured products, links to sports or racing categories, the Hub, next to jump racing markets, featured upcoming racing events and featured sports markets.
Betfair Mobile is available for use with popular mobile devices including iPhone and Samsung. Alternatively, you can view the mobile website by visiting m.betfair.com.au
Download the Betfair Mobile App to your smartphone today!
If you’re new to Betfair and would like to signup, they offer easy and popular deposit options. The list of choices includes credit and debit card, POLi, BPay, Neteller, Skrill and back transfer.
If you bank with National Australia Bank (NAB), the funds will be released on the same day. The minimum deposit for debit and credit cards is $10 and $5 for all other deposit options.
Join Betfair right now and take advantage of a 20% Winning Boost up to $500 on all your winning bets placed over the first seven days of joining. All winning bets placed over your first seven days of betting Betfair will receive a 20% Winner’s Bonus up to $500! Here’s how it works!
A Betfair account means better odds for punters and that means bigger returns along the way!
Deposit funds at Betfair using the most popular methods.
Terms & conditions apply, and NSW, SA, WA & VIC excluded. More details can be found here.
A unique feature of the customer service at Betfair is the ability to request a demo of how Betfair works. Just call the support team to book in a demonstration time.
They provide a phone number for phone betting as well as a support line to fix any account or betting issues.
Telephone Betting: 132 BET (132238) available 24/7
Helpdesk: 1300BETFAIR (1300 238 324) available 8am – 10pm, 7 days a week.
They offer live chat from 8am – 7pm every day of the week. Otherwise, you can email the support team, and they’ll aim to answer your question as soon as possible.
The slogan at Betfair is “Bet Fair, Bet Smart”. The team at Betfair provide options for limiting your spend if betting is becoming a problem.
You can choose a deposit limit or block your account for a certain amount of time. The website provides a list of gambling helplines to help you solve the problem efficiently.
Betfair is only available for over 18-year-olds and follows the betting code of conduct in Australia.
Betfair was founded in 2000, and the main headquarters located in London, United Kingdom. In February 2016, Betfair merged with Paddy Power (owns a stake in Sportsbet) to create one of the largest online betting businesses in the world.
Betfair is currently the world’s biggest betting exchange with more than 3 million customers worldwide. They offer fixed odds betting, very much like a traditional bookmaker, but Betfair users set their own odds and bet against each other, with a commission paid to Betfair for winning transactions.
Betfair Australia is based in Hobart, Tasmania and is regulated by the Tasmanian Gaming Commission to provide a safe and secure betting environment for punters. They’re proud to back the AFL, NRL and Cricket Australia.