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Betfair is a bookmaker that offers both a traditional sportsbook and a slightly different approach where bets can be placed and exchanged.
In the exchange, there are sellers and buyers of odds and Betfair only take a commission on any winning bets.
The Betfair betting exchange allows customers to challenge other customers in the sense of placing bets on odds that they have suggested themselves.
In this case, Betfair functions as the exchange market that customers can use to do this and they actually don’t take part directly posting odds.
This provides customers an interactive experience, but if you do prefer the traditional way and rather bet on odds from Betfair then you should visit Betfair’s sportsbook section.
So let’s take a closer look at Betfair in this Betfair bookmaker review and find out more about the Betfair sportsbook and exchange.
Bet £10 and Get £30 Free Bets
When you sign up to Betfair as a new player and bet £10 on the sportsbook you will qualify to get £30 worth of free bets that you can use immediately on the exchange bookmaker.
In order to qualify you need to register and place your bet on odds of 1.2 or more within 30 days of opening your account. It doesn’t matter if you win or lose, you will still receive three £10 free bet tokens.
You will get your free bets within 24 hours of having your bet accepted.
Double Odd on Winning Goal Scorer Bets
At Betfair sportsbook, you can double your odds on some specific matches.
Place a pre-match single bet on the first, last or anytime goal scorer.
If the winning selection scores again, your odds double for that market.
Winnings are paid in cash at the normal price and topped up to double odds with free bets.
The max-qualifying bet is £10.
Check the Betfair website to find out which matches are eligible for this promotion.
New Arcade Customer Offer
As a new arcade customer at Betfair, you will receive a £10 bonus.
To claim the bonus you need to opt in and bet £10.
Make your wager on an eligible game and receive your bonus. Titles include Wish Upon a Jackpot, Starburst, Lucky Wizard, Fairy Fortunes and Rainbow Riches.
Free £5 Bonus for Casino Customers
New players at the Betfair casino section can receive a free £5 bonus for any slot game.
Betfair Betting Coverage and Odds
There is plenty to choose from at Betfair making sure that customers are never bored when they are placing their bets.
However, due to the nature of the betting exchange it is difficult to offer different bonuses and promos that you will find at other standard bookmakers.
At first you may feel confused about the odds that are being displayed, but you will soon get the hang of it.
The odds are displayed in decimal or fractional format and are suggested by customers.
You will see that each selection has two kinds of odds, those being back and lay. The back odd is where you accept the outcome. The lay means you are suggesting odds of your own.
Betfair have a full coverage of football from the top leagues like the Premier League to more obscure markets like Bahrain or Jordan.
You will find that there are over 50 betting markets for football as well as special markets like will the top player stay in the club or who will the next manager be and such.
Betfair Horse Racing
When it comes to horse racing, Betfair is the only UK bookmaker with a licence to offer bets on US races.
The horse racing market covers all British and Irish racetracks, as well as many other international ones.
There are three types of betting for races. The betting exchanges where players can back or lay runners, the fair price and the tote betting.
Betfair In-Play Betting
In-play betting is a great experience at Betfair as players have the chance to cash out for profit during an event.
They also offer a live video section where you are able to watch the sporting event that you have betted on and also bet as the event goes on.
Betfair Deposits and Withdrawals
There is a closed loop policy on Betfair, which means that to withdraw funds you will need to use the same method you used to deposit funds.
This ensures that you and Betfair are protected from money laundering activities and fraud.
Betfair accepts credit and debit cards and these include Visa, Visa Delta, Visa Electron, Maestro, MasterCard, Laser and Solo.
If you withdraw with your debit or credit card then expect to wait 2-5 working days before the money reflects in your account.
They also offer e-wallet deposit and withdrawal methods and include Neteller, PayPal, ClickAndBuy and Skrill. These take up to 24 hours and there are no fees attached.
The currencies that are accepted at Betfair include UK Sterling, US Dollar, Euro, Australian Dollar, Danish Krone, Hong Kong Dollar, Swedish Krona, Singapore Dollar, Canadian Dollar and Norwegian Krone.
Betfair Background and License
Betfair have quite an extensive history and have been online for the good part of over a decade. In 2003, they won the Queen’s Award for Enterprise, which is one of the highest official awards in doing business.
Betfair is a massive operator as they serve over four million customers with 1800 employees.
For UK customers, Betfair is licensed by the UK Gambling Commission. The company is also licensed by the Malta Gaming Authority.
The Betfair sportsbook is a fun website that has credibility and a place where their betting community are able to interact with one another through their online forum.
Betfair Customer Support
The customer service at Betfair is very good. The support on offer is there to answer any questions that you may have as well as ensure that all players can wager freely.
You will see that Betfair has some great online guides that can be used by inexperienced players and newcomers should read the FAQ section as almost every question is answered here.
However, if you do still have an issue or are not sure about something, then you can contact the support team 24/7. You can use the online contact form, Twitter or use one of the phone numbers provided depending on where you are.
Betfair have taken every measure to ensure that all your information is protected and you enjoy a safe betting experience.
They use Secure Socket Layer technology, login information encryption, the software at Betfair is internally and externally security tested, your passwords are checked against the minimum password strength policies, there are authentication checks for any changes that you make to your account and more.
All of this makes Betfair a secure and safe place to make bets on the Betfair sportsbook.
Betfair Bookmaker Verdict
The fact is that it will take time to learn how the betting exchange system works, but once you know it then you will see it is easy.
The best way to learn is to place a few bets and get to grips with the basics and then you will not have any other problems.
One of the biggest features of Betfair is that the winner odds are usually better than those that are offered at your standard bookmaker and if the odds are moving in your favour you can lock in profits with the back and lay system.
If you are new to sports betting though, then the Betfair exchange might not be for you. However, experienced betters will love the chance to be the bookmaker.
If you are a serious sports betting enthusiast and are looking for something a little different then you definitely need to head to the Betfair exchange.
And if you’re looking for the traditional way of betting, the Betfair sportsbook is a great choice.