- Betting exchange provider
- Betting options are unique
- In-depth markets
- Cash out function could be better
- Commission on betting exchange is too high
- Odds are too low
Name: Betfair Group plc
Type: High odds
Owner and License Holder: Flutter Entertainment/ UK Gambling Commission and The Malta Gaming Authority
Year established: 2000
Online Since: 2013
Jurisdiction: Gibraltar, Malta, UK
Head Office Address: Waterfront, Chancellors Road, London, W6 9HP
Languages: Danish, English, German, Greek, Irish, Italian, Portuguese, Russian, Spanish, Swedish
Country restrictions: Canada, China, Cote D’Ivoire, Cuba, DR Congo, Eritrea, France, Greenland, Iran, Iraq, Israel, Japan, Lebanon, Libya, North Korea, Portugal, Somalia, Sudan, Turkey
Betfair was launched in June of 2000 by Edward Wray and Andrew Black. It didn’t join the online betting world until 2013. Even though it’s a fairly new company in the bookmaking business, Betfair is considered the UK’s biggest Internet betting company and one of the world’s biggest online betting exchanges. Betfair has more than 4 million clients and over £50 million being turned over each week. In 2010, before Betfair had even joined the online scene, the company was already evaluated at nearly 1.5 billion pounds.
The company’s headquarters are based in Hammersmith in West London, but has its jurisdiction in Malta as well as licenses in Gibraltar. Their website has a similar structure the way the Stock Exchange is set up because of its Back and Lay feature. The betting exchange aspect of Betfair allows betters to place bets on odds set by other betters instead of by the bookmaker. Betfair then charges a commission for the winning bets, which is usually about 2-5%.
Betfair has continued to grow since being launched, and doesn’t look like it will slow down into the future. The bookmaker offers casino, bingo, sports betting, games, poker, horse racing and exchange games in numerous languages with 24/7 customer support.
- Minimum Bet: £2
- Maximum profit: £1,000,000
- Betfair Betting Offers
Betfair has several new customer and continued customer casino offers, as well as VIP offers and growing jackpots for everyone to try their hand at.
- New Player Casino Bonuses: Customers can receive 25 free spins for the casino when they register a new account, with no deposit necessary. New players who click the “Join Now” tab can receive a £100 bonus for the casino after depositing a minimum of £10.
- Rewards4Racing: New customers who sign up to Betfair and make a deposit through their Rewards4Racing email account will receive 2000 bonus points.
- Beat the Drop: Available for both new and existing players. Betfair offers 30 days of free play for players the first time they play this game. Depending on a player’s stake and how many questions they answer, they can win up to £1,000,000.
- Grand National Promotion: Customers receive a free bet of £25 for every winner on live ITV races that is backed at 3/1 or more. This promotion is for selected Cheltenham races only.
- VIP Offer: New VIPs can receive up to £500 after depositing £1,000 or more. There are also mid and high roller options with deposits being matched by 100%.
How to Get the Bonus on Betfair
- Register for a new account on Betfair
- “Buy in” to the offer by depositing £10
- Betfair will match this 100% with up to £100 in casino bonuses
*Full details on website. Bonus offer expires in 7 days after activation
Betfair Odds and Markets
Betfair does not generally offer the most competitive pre-match odds, other than tennis and football. Overall, this bookmaker isn’t too bad, but don’t match up to other sports betting sites. Betfair focuses more on the odds that they provide for the betting exchange, which are better, but do still have a commission fee for punters to use the exchange.
The bookmaker’s market coverage is just below average with about 30 different sports being offered for betting through the sportsbook. The bookmaker does provide in-depth coverage for each of the sports they offer which makes up for the lower market coverage. For example, their football options include European youth leagues, as well as smaller leagues, like the less well covered Jamaican leagues.
- More than 100 Casino games
- Games based on Popular Film and TV Shows
- In play
- Fixed Odds for Horse Racing
- Updated Website
- Cash Out
- Multiple Bets coupons
- Market Rules Icon
- “Open Bets” instead of “My Bets”
Why choose Betfair
The Betfair brand is strong, and well known in the football scene throughout the UK. The bookmaker has several partnerships with big groups, including five partnerships with the Premier League Football Clubs, which has given it a good presence in the media and betting world.
The bookmaker also offers a great number of live-streamed events, with a scheduled list to display upcoming options. The list has an index, which arranges upcoming fixtures by the hour, day or month, so viewers never miss out. This is one of the big advantages that Betfair can boast over other competitors, as they offer big football matches live streamed.
Betfair is also known for receiving many awards, including the founders of the company receiving a 2003 emerging entrepreneurs award. The bookmaker has also received awards for being the best sports online betting operator two years in a row for 2009 and 2010. Obtaining awards like these, as well as for innovation and mobile operation, not only brings Betfair to the forefront in recognition, but also shows competitors and customers that they are a consistently great bookmaker not only to watch out for but also to bet with.
Overall, even if Betfair doesn’t have the biggest markets or the most promotions, that doesn’t discount the bookmaker from standing out amongst the crowd. Their online sportsbook is well thought out and tailored to their style and approach. With an original, up and coming platform and unique betting exchange option, this bookmaker is set to have a long and positive lifespan.
- TAN (Telephone Account Number): The TAN is a special code that allows customers to bet through Betfair’s telephone betting service. The TAN must be given when calling the betting desk to bet with the customer’s account information.
- Portugal Changes: Betfair has changed some of the countries that customers can currently bet through. The bookmaker is applying to get an online license for gambling in Portugal and has temporarily had to turn off its site for Portuguese residents, or anyone currently located in the country, while this application is being processed.
- Fast Funds: This is the fastest method for customers to withdraw from their Betfair wallet to receive funds to their personal bank accounts. This option is available for customers in the UK, Spain and Ireland who wish to withdraw funds through their Visa card. This method often has winnings into customers accounts almost immediately (though make take up to 2 hours).
- Restricting Deposit Amounts: While registering for a new account, customers can decide if they want to create daily, weekly, or monthly deposit limit amounts. After registering, these details can be changed through the “My Account” section.
- Acca Edge: The Acca Edge is Betfair’s acca insurance guarantee that refunds customers with cash if there’s a let down, rather than the free bet that many bookmakers offer.
Who owns Betfair?
Betfair was launched in 2000 by Edward Wray and Andrew Black, but the bookmaker is now owned by Flutter Entertainment and is licensed by the Gambling Commission in the UK. The bookmaker has ensured that their website is completely compliant with all of the regulations put forth by the Gambling Commission. Betfair is also licensed and regulated by the Malta Gambling Authority, as well as in Gibraltar. The bookmaker has also obtained licenses in Denmark, Italy, Romania, Spain and Sweden, with a license pending for Portugal.
In 2016, Betfair Group plc and bookmaker Paddy Power had a merger, and The Flutter Entertainment business also purchased The Stars Group, though Betfair is still operating through their same licenses, and business continues to be the same. With all these changes Betfair has acquired a few new sister brands, including Sky Betting & Gaming, Full Tilt Poker, and PokerStars.
How do I place a bet on Betfair?
- Click on the odds for the bet of choice to add selection to bet slip
- Enter stake in bet slip box
- Confirm bet selection but clicking on place bets
How long do Betfair take to pay out?
Betfair has a “Closed Loop Policy” for withdrawing funds, so whatever payment method is used to deposit money into a Betfair account must also be used to withdraw money. Most transfers take a few working days, though can take longer depending on customers’ accounts.
Betfair accepts: Visa, MasterCard, Debit cards, Visa Delta, Solo, Visa Electron
- Debit/Credit card: 2-5 working days
- UK standard bank transfer: 2-3 working days
- Non-UK bank transfer: 2-5 working days
- Skrill/PayPal/Neteller: 4-24 hours
- Fast Funds: instant-2 hours
Does Betfair give free bets?
Yes, Betfair offers a number of free bets. Most bookmakers offer free bets as part of the customer satisfaction experience, and Betfair is no exception. Betfair pairs the sportsbook betting experience with the betting exchange, and also has number of casino offers.
Check out their website or app to see all of the free bets they offer on their products throughout the year. After registering an account, available free bets can be seen under customer’s “My Bonuses” tab.
Betfair Mobile App Review
The Betfair app is similar to other bookmakers in that it offers most of all of its website features on its mobile sportsbook. It also carries over the layout and look that the web version offers. The only layout changes are due to the smaller screen for tablet or mobile devices, but otherwise, the navigation is easy and the homepage is arranged well.
Because of the well thought out design and aesthetic of the app, Betfair offers punters a great mobile experience. The bookmaker has also included their event statistics so that users can keep up with any needed information on the go. And with a the great range of payment methods available and many betting options, mobile users will continue to be impressed by the features Betfair has to offer.
“Once again it’s smooth sailing for Betfair. The bookie really is a class act and it has complimented its online betting site with a fantastic app that is strong in all the right areas.” bestbettingsites.uk
Customer Service Review
Betfair’s customer service can be contacted through the phone, live chat, email, and they even offer letter service. They also offer a fairly extensive help section and search bar, but for more specific questions and concerns, it’s best to contact them directly.
Their help section is arranged by showing a FAQ section for each of the topics that match the users question. If an appropriate answer cannot be found, then customers can contact the bookmaker from this page. So there are a few steps to go through before getting to chat or email someone directly, but there is 24/7 customer support available with staff who are mostly considered to be very knowledgeable and friendly.
“6/10. There are a couple of extra steps required should you wish to contact live chat directly, although it should in theory mean your question is directed to the relevant help department. In my experience however, this has not seemed to be the case, with customer service often having unsatisfactory answers to questions.” bestbettingsites.uk
“Betfair is regarded as having one of the best customer service programmes on the market. The Casino provides first class 24/7 customer support via e-mail and telephone.
Registration is incredibly easy and you are guided well from the homepage to completion.” freebets.com