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Betfair – Betting Exchange Site
Are you looking to for a new bookmaker? If the answer is yes, then you’ve come to the right place.
At Betting Punter, we review various bookmakers for you to choose from. The team here were glad to write this Betfair review – and after scoring them on various criteria, we have awarded them one of our “best choice” awards.
Not only are Betfair a sports betting site, they offer lots of great casino games to play – but they are better known for being one of the top betting exchange sites.
Have a read through our review – then make up you own mind. You won’t be disappointed.
Betfair is no stranger or newcomer to the world of online gaming. It is actually the biggest betting exchange in the world today.
But apart from being a betting exchange, Betfair also offers a variety of other services such as online bingo and online poker. The company is also the proud owner of one of the top Sportsbooks and online casinos in the world.
Founded by Edward Wray and Andrew Black in the year 2000, Betfair was one of the first gaming companies in the world, in fact, the first in the UK to sponsor a celebrated English football team during the 2002–03 season.
In 2005, the company purchased the PokerChamps.com online poker site. In 2006, the company acquired Timeform, which was a horseracing publishing company. A year later, in 2007, they set up the Betfair Radio service, which broadcast the racing results every day.
2008 and the few years after it brought a flurry of activities for Betfair. The company acquired the US company TVG Network in 2008. In 2009, the company successfully completed their deal with the New York Racing Association to give UK customers a chance to bet on the Aqueduct’s thoroughbred races.
Finally, in 2018, Betfair completed its merger with celebrated Irish bookmaker Paddy Power, after which the company was officially renamed Paddy Power Betfair PLC.
In the more than 20 years since its humble origins, Betfair has been serving over 4 million customers and has hired over 1,800 people globally.
Betfair has a massive selection of games available for players – and they support over 32 betting markets.
In addition to all the sports related games, the company also offers a variety of non-sporting games too.
Their long experience and partnerships with multiple global gaming and gambling service providers and software developers have helped Betfair offer the following games to customers:
- Poker – Jacks-or-better, Holdem, Texas Holdem Poker, Six Plus Hold ’em
- Esports and Multi-layer online games – League of Legends, Dota 2, CS:GO, FIFA, League of Legends Championship Series
- Slots – Top Gun, Age of Gods and Maji Wilds
- Progressive jackpots – Mighty Midas, Batman Begins and Pharaoh’s Treasure
- Live dealer games – Live Roulette, Live Blackjack, and live dealer versions of Baccarat, Sic Bo and Hi-Lo
- Sporting league games – Cricket, Rugby, Football, MMA, Boxing, Tennis, Motorsports, Basketball, Horse and Greyhound racing
One of the highlights of their Sportsbook, is that Betfair gives customers the opportunity to bet on football matches across the world. A few of the popular choices, especially for football fans, are the English Premier League, Bundesliga and La Liga.
Betfair Betting Markets
Apart from the sports related games and online casino, Betfair is active bookmaker in the politics betting market as well.
Customers can also choose to bet on current affairs from around the world.
Betfair also has a “Specials” section, where customers can bet on the outcomes of TV shows, contests, award ceremonies and other special events.
These events include the likes of:
- Strictly Come Dancing
- Eurovision Song Contest
- Celebrity Big Brother
- Mercury Music Prize
Betfair VIP & Loyalty Program
If you are a patron of Betfair and regularly play with them, you can benefit from the generous Betfair loyalty program.
For every minimum spend of £15 on total accumulators from Monday to Sunday, players get a weekly bonus of up to £5.
This bonus is paid out every Monday and you can use the bonus either on a single bet or a multi-bet with more than three selections.
The VIP Management Program is for the top tier players and long term patrons.
Whenever Betfair hosts live events or virtual meets, VIPs in the program get a free invite to the event, along with goodies and other game-related promotional offers.
Betfair Pros & Cons
By now that you should have learned that Betfair is certainly worth trying, you can sign up for free welcome offers here to get you started.
Lets just cover some of the strengths and weaknesses we noticed when using the bookmaker.
- Betfair Exchange has a long history and legacy of bookmaking. The company has a pedigree that runs longer than 20 years
- The prices offered by Betfair are significantly better and more affordable than many bookmakers online
- Players are charged only 5% of their earnings as processing fees
- Almost universally unrivalled in-play betting functionality
- The UK bookmaker offers an expansive selection of game bonuses and promotions
- Punters can easily set bets that are at odds with other bettors
- There is no threat of cash out suspension
- There is a variety of esports betting offers, virtual sports betting offers and board sports betting offers
- Betfair offers high betting limits with very competitive odds that players enjoy
- They have a safe and secure login, verification and account security policy that keeps customers’ details protected
- Customers who want to cash out can do so through varied payment platforms
- Players earning more than £250,000 are charged a whopping 60% fee
- Betfair is not supported in around 75 countries
Betting Punter Ratings For Betfair Online
The Betting Punter team have scored out of 5 each of the experiences for this Betfair reviews as follows:
Betfair Video Review
Watch this real life 3 minute video review of Betfair exchange website.
How To Bet With Betfair
Becoming a player on any sports betting site including the Betfair site is fairly straight forward. If you’re new to online gambling, here’s a quick look at how to register with Betfair.
1. Click ‘Join Now’ on the top right corner of the hompage at www.betfair.com . An ‘Open Account Page’ will open.
2. Complete the registration form, by entering:
- Your name
- Date of birth
- Phone number
- Postal address
- Security question
- Deposit limit
- Select your prefered currency
- Email and Password
Click the “Join Now” button then follow the instructions in step to to add funds.
When you have deposited funds, you can then start playing.
Betfair Mobile Apps
Betfair have developed mobile apps to make their services more accessible to customers.
The UK bookmaker has been ahead of the curve in terms of releasing a mobile app for its casino games and Sportsbook. The Betfair apps has been optimized for both Android and iOS.
Downloading the Betfair apps allows customers to interact with all types of events, including:
- Sports betting
- Betfair exchange
- Exchange games
The aesthetics, user interface and features of the different versions of the apps are similar. The navigation bar is located at the bottom of the screen, allowing easy interaction and accessibility.
Other benefits unique to the Betfair mobile app include:
- Free download with in-app purchases
- Secure protocols to keep your personal details and financials private
- Improvements to the login functionality to strengthen safety
The one major disadvantage of the Betfair mobile app is the amount of memory it takes up. Another disadvantage is that the Betfair mobile app is not available in all countries.
Some countries offer only the Betfair website (responsive version for mobile and desktop). Plus there are countries where betting and gambling is prohibited altogether.
Betfair Sportsbook Mobile App
The Betfair sports app allows customers to make bets across any of the 32 markets and the entire Sportsbook, with simultaneous multi-market and multi-game betting allowed.
Customers can see what games are being played and what the current bets and odds look like.
The Betfair mobile app also boasts numerous helpful features. With this mobile app, you can:
- Special bonuses exclusive to the mobile app
- Bet on any events from around the world, including both pre-games and in-play
- Watch games and other events with live streaming and in real time
- Option to bet and lay on your team while you compete with other punters for better results
- Receive a great edge over others when placing accumulators, with the help of ACCA insurance
- Cash out in just one tap to retain your position
- Cash in and cash out through numerous means, including Debit/Credit cards, bank transfers and online payment apps
The cash out button has also been designed as a stand-alone button that is prominently located on the screen.
Betfair Sign Up Offers
Being one of the top bookmakers and exchange betting sites, you would expect Betfair to offer new player welcome bonuses – and they do!
Here are a few that were available at the time of writing this Betfair reviews:
- Make a minimum deposit of £30 through debit/credit card and a minimum bet of £30. Get a cashback bonus of up to £30 even if your bet loses
- Enjoy 0% commission up to £500 on the Betfair Exchange
- Get a £100 in free bets upon entering a promo code that will be available to you on the Betfair website
The Betfair website has many more promotions and offers that players love. Keep an eye out for them here – why not take something for free!
There are numerous other sportsbook welcome sign-up bonuses and Betfair casino bonus like this that keep popping up when you first register.
- Place a back bet on any race, get money back in the form of cash, when the horse you’ve bet on goes odds on in-play and then loses
- Get 50 free spins at Betfair casino for your very first casino visit by using the code “CASF51”
As we’ve said, these were avavilable at the time of writing, so bookmark this page and keep checking here.
Betfair Deposits & Withdrawals
Deposits and withdrawals are fast and easy on Betfair – that’s why we scored them 5/5 stars.
The minimum limit for deposits on the Betfair site are:
- £6 for Debit and credit cards
- £10 for PayPal, PaySafe, Skrill, Neteller, Webmoney, EcoPayz, Sofort and Trusty
- £15 for cheques and bank transfers
On the first deposit, customers are allowed to place a bet up to £20. It’s also worth noting that most deposit types have zero transaction fees, with the exception of PayPal.
Withdrawals are equally easy to make:
- Sofort and ExoPayz have a minimum withdrawal limit of £10
- Other platforms don’t have any minimum limit
It can take from a few hours to a few days for the withdrawal to come through:
- 24 hours – PayPal, EcoPayz, Webmoney, Neteller, Skrill, PaySafe, Sofort
- 2-5 days – Debit & credit cards, cheques, bank transfer and Trusty
Betfair do charge transaction fees for withdrawal, which is between 1%-2% of the withdrawal amount. This applies to most payment methods, with the only exception being bank transfer, where a flat £5 rate is charged.
Players who want to withdraw the bonus fund must meet one of the following requirements:
- 45x wagering requirement for casino bonus
- 10x play-through requirement for betting exchange offers or sportsbooks
Betfair Customer Support
Betfair is renowned for its excellent customer service. In fact, the company offers 24/7 customer support all year round.
Players can get in touch with the Betfair customer service team through email, phone and live chat.
Betfair has also developed a very comprehensive FAQs section addressing any question a player may have about using the platform and placing bets.
If you want to get in touch with the team at Betfair, you can use the following contact details:
Telephone: 0344 871 00005
Live Chat: Betfair live chat
How can I place my bets on Betfair?
- Log into www.betfair.com
- Sign into your account
- Select what you want to do – Sportsbook, Casino, Exchange etc.
- Choose the event or game you wish to bet on
- Select the bet type – single bet or multiple bets
- Enter the amount you wish to bet
- Confirm your bet
- Select “Place Bets”
Your bet will then be placed.
Make sure to note down the details of the event/game, the types of bets already made, what projections are available about the event/game and the date on which you’ll get the results.
Does Betfair close or suspend winning accounts?
No they don’t.
Not unless the account has been found to be guilty of:
- Gambling-related restrictions
- Financial fraud
- Source of funds related issues
- Money laundering
- Event fixing
- Data exploitation for business decisions
Apart from this, Betfair does stake limit accounts of its Sportsbook users, who they find are consistently beating the odds.
The stake restricted player will receive an email from Betfair explaining why they’ve been restricted. If this does happen to you, it’s important to contact the customer service team for the next steps.
However, the Betfair Exchange does not have any such stake limits, and it’s far less stressful using the Exchange.
While the likelihood of Betfair not paying out your winnings after you have been stake limited is exceptionally rare, you can seek support from the Independent Betting Adjudication Service (IBAS) to get your winnings.
How can I close my Betfair account?
If you ever find yourself wanting to close your Betfair account, you can do so by following the below steps:
- Log into www.betfair.com
- Sign into your account
- Scroll down to the Settings option at the bottom of the homepage or dashboard
- Click Settings and navigate to Account Settings
- Select “Delete Account”
- Select a reason for deleting your account and confirm the deletion
You can also get your account closed by contacting the customer service team through email or telephone.
The email for account deleting is email@example.com.
You can withdraw your winnings prior to your closing the account. Or you can ask the customer support team to help you transfer your winnings to your personal account when you contact them for deleting your account.
How can players claim their free bets?
After you open your new Betfair account, place a £10 bet on multiple sportsbook markets, which have a minimum odds of 1.5 or more.
You will be rewarded with a £20 free bet.
Do this five times to get your £100 in free bets.
Please note: This free bet offer was correct at the time of writing this Betfair review. Please check for the latest offers here.
Betfair Review – Overall Rating
When we consider the legacy that Betfair offers in the field of betting and gaming, we have to say it is very impressive. That is why is scores an equally impressive 5/5.
The massive market with hundreds of games and events to bet on make it a paradise for players.
Plus, it doesn’t hurt that Betfair has some of the most generous promotions on offer.
Their intuitive mobile app, 24/7 customer support and their incredible loyalty program definitely make Betfair a great choice for players – both new and experienced punters.
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Betting Punters Top 3 Picks
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