Three reasons to play at Betfair
- Betting exchange allows gamblers to bet against each other
- Large choice of in-play markets
- Low margins for AFL events
In 2000 Andrew Black and Edward Wray founded the Betfair company. The arrival of the betting exchange really shook up the industry as well, as it took on the traditional bookmaking platform. Betfair is the pioneer of online exchange betting, growing a customer base of over 4 million.
They offer their services in over 40 countries and are licensed and regulated by the Northern Territory Government of Australia and are governed by its Responsible Gambling Code of Conduct and for South Australian residents by the South Australian Responsible Gambling Code of Practice.
Available Bets & Features
The big appeal of the Betfair betting exchange for punters is that pretty much any sports bet thinkable can be found there. Because it is a peer to peer betting system, all it takes is one person to create a wager and then wait to have that matched by another for the bet to be active. So there are extensive markets to be found at Betfair on the exchange.
It is a dynamic arena and it covers global sporting scenes astonishingly well from the major to the minor sports, including non-sports markets such a politics. The listings and lines that are available at Betfair make it consistently a strong operator. The ability to back and lay betting options offers customers the type of versatility that can’t be found at traditional sportsbooks.
The exchange as a whole can be a bit more of a complicated system to fully to get to grips with, however. But there is a Hub section which delivers content giving insights into betting markets and other tips on how to get the most out of the platform. They are notably an operator who are quite innovate with promotions as well.
Live Betting
There are a lot of live in-play markets that are offered on the Betfair website. While there is a big section for live betting at Betfair, bets can’t be struck online (except for racing) because of regulations. Live wagers have to be called in, instead. But punters can still play around with the prices on offer to get something matched for a live quote.
There were plenty of sports on offer for live betting from tennis, cricket, snooker, ice hockey and more. It it nicely sortable by filters as well to see things like which of the events were being shown live on TV. That feeds over to the Betfair Live product where live sports streams are provided of racing, tennis, soccer and more.
Odds Value & Margins
There are no bookmaker margins to worry about on the Betfair Betting Exchange. That for punters can equate to value. Customers at Betfair will instead pay a commission on winning bets. Each market has a Base Rate which is the max percentage that you will pay out on a wager such as Victorian thoroughbred racing at 6%. So if you had a winning bet on such a race, 6% of your winnings would automatically be taken as commission. International sports have a 5% MBR while AFL offers the lowest at 2.5%. Frequent users can earn discounts off of base rates up to 60% off.
Mobile Betting
There are Betfair apps available for iOS and Android. These help to deliver their extensive services in a quick and easily accessible format for on the go. The full extent of the exchange and its functionality can be picked up through their mobile apps and not only that, there are third-party apps that can be integrated as well to further maximum speed, such as one-click betting, customisable dashboards and automated betting.
Deposit/Withdrawal
Betfair offer deposits, all of which they don’t charge for, through Visa, Mastercard, POLi, BPay, Bank Transfer, Neteller and Skrill. Cards have a $10 minimum while other deposit forms vary. All deposit methods besides BPay and Bank Transfer are instant. Any cards issued in Australia cannot be used for withdrawals, neither can POLi or BPAY. So you are limited to Bank Transfers, Neteller and Skrill for withdrawals and there are no fees issued by Betfair for any of those either.
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