BETFAIR REVIEW

Betfair is the world’s largest online betting exchange. Prices are matched against other punters, Betfair does not act as a bookmaker merely an agent that matches a buyer with a seller. The platform has huge benefits for wagering enthusiasts. The exchange: provides great value, gives punters the freedom of price and choice, users can trade a market and place multiple bets, Betfair always displays your net position on an outcome, punters can generate risk free betting positions and the platform is well geared for live betting.

The odds are a lot more generous for most sport events on Betfair. This is because the market determines the fair price for the outcome instead of the bookmaker. Punters match bets with other punters. This has huge advantages for punters, first and foremost they benefit from much better odds on sporting events. Generally, the greater the odds, the greater the discrepancy between the bookmakers’ price and the exchange price. It also means that a punter can back an outcome and lay an outcome on the same event.

Betfair is far superior to sports book betting agencies when it comes to: fixed markets, sporting events and live (in-play) events. Most sporting events are fixed market events, which is why it is beneficial to use Betfair. Another advantage is that you can lay off your bet. If the price moves in your direction, you can lay off at a price lower than what you backed meaning that you cannot lose whatever the outcome. When comparing other Australian bookmakers, this is a benefit that cannot be matched and provides a great value component for sports bettors.

Aside from the benefits of being an exchange, Betfair offers new customers a bonus valued at up to $500. Bookie Guide recommends Betfair to punters who are interested in deriving maximum value from each bet.

REASONS TO JOIN BETFAIR

  • 20% Better odds on fixed markets
  • Can place a ‘lay’ bet and back both ‘win’ and ‘lose’ outcomes
  • Can ‘trade’ on certain markets
  • Good Free Bet on sign up
  • WEAKNESSES

  • Do not offer fixed odds markets
  • Live betting is not available online due to government regulation
  • Takes a % commission on winnings
  • BETFAIR SIGN UP BONUS

    betfair-free-bet-and-promotional-code

    $500 Winnings boost

    Betfair will apply a 20% winnings boost on all bets placed in first 7 days
    CLAIM $500 BONUS

    BETFAIR FREE BET RULES

  • Excludes residents of VIC, WA, NSW and SA
  • Must enter Promo Code A20WIN
  • Only applies to bets placed during first 7 days
  • Any winning bets will attract a 20% bonus
  • Losing bets do not offset the winnings tally
  • Bonus will be credited after 7 days
  • The maximum reward with this offer is $500
  • Winnings of $1,000 will earn a $200 bonus
  • No odds restrictions on the bonus money or qualifying turnover conditions
  • see full terms and conditions
  • BETFAIR PROMOTION CODE

    New members will need to enter the following promotional code when registering a new account and earning the $500 Winnings Boost.

    ENTER BETFAIR PROMOTIONAL CODE :

    A20WIN

    RACING BET TYPES

    Betting exchanges are also useful when it comes to betting on horse racing. The major benefit is that you can lay a horse (bet that it will lose), the other benefit is that at any given moment the price will generally be higher on an exchange. However, there are better racing products on offer. The nature of betting fluctuations before a horse race and the advent of bet types like Top fluc and BOB means that punters are guaranteed the best price during for the whole betting period before a race and not just at any one moment. Betting exchanges cannot offer this product.

    For this reason; Betfair has formed a joint venture with Australian bookie Beteasy. All existing Betfair customers will be able to access fixed odds markets through the Beteasy website using their Betfair login details.

    Betfair’s racing products

    Win Bet Types Exchange betting
       
    Exotic Bet Types Offered via Beteasy

    SPORTS BET TYPES

    Betting on sports is where Betfair really offers an advantage to the astute punter. The odds on sports events are almost always fixed prices, it is the fixed markets where the odds a far more generous on Betfair.

    Sports bet types offered by Betfair

    Sports Bet Types Back,  Lay,  *Back and Lay bets can be placed on line, margin and live betting markets
       
    Mobile Betting Betfair operates a mobile site and provides apps for iPad, iPhone and Android users
       
    Live Betting Australian punters are only able to bet live over the telephone. Betfair fully caters to the needs of In -Play punters both local and international and offers one of the best live betting experiences in Australia.

    ACCOUNT & OPERATION DETAILS

    Deposit Options Visa, Mastercard, Debit Cards, Paypal, NAB, Neteller, POLi, Moneybookers, BPAY, Bank Transfer, Credit Union Transfer
    Withdrawal Options  Paypal, Neteller, Moneybookers, Bank Transfer, NAB, Credit Union Transfer
    Withdrawal Requirements ID must be verified before withdrawals or any transfer between wallets take place
    Transaction Fees 1.5% transaction fee for Credit Cards
    Identity Check Yes – 100 point check performed at Australia Post outlet within 90 days
    Minimum Deposit $5 for all deposit methods except Moneybookers $15, Neteller $25 and Credit Cards $30
    Minimum Bet $5
    Minimum Phone Bet $50
    Maximum Payout Maximum winnings depend on the market and how much is placed on offer by other participants. Generally the more popular the event the higher the outcome possibilities.
    Forbidden Jurisdictions USA
    Languages English, Bulgarian, Cesky, Dansk, Deutch, Ελληνικ?, Español, Suomi, Italiano, Norsk, Polski, Português, Russian, Svenska, Türkçe, Chinese (Simplified), Chinese (Traditional)
    Currencies AUD, CAD, DKK, EUR, GBP, HKD, NOK, SEK, SGD, USD
    Odds formats Decimal
    Turnover Requirements None
    Free Bet Turnover Requirements None
    Mobile Site Yes
    Live Betting Telephone only
    Credit Facilities Not Availabe