Betfair is one of the world’s largest international online sports betting providers. It was started back in 2000 by Andrew Black and Edward Wray and have grown to embrace over 4 million customers across a website which hosts their services in seventeen languages. They are the largest online betting exchange and their innovative technology for their betting platform has led them to win prestigious awards along the way. They are the pioneers of the betting exchange, which offers peer to peer betting.
Although this is a betting exchange, the depth of markets are still the same, if not greater than traditional online bookmakers. This is because any peer can raise a market and as long as their bet gets matched, it will be active. This is a huge advantage of the betting exchange with punters betting against each other and it also provides incredible value. Customers of Betfair can present their own odds or again, shop around for the best value that they can get. Just to put it in context, over the 2012/13 Premier League season, Betfair were better priced than Bet365 on 756 winning match odds markets. The sportsbook betting exchange works on the Backing and Laying principals but as well as the exchange, they have a fixed odds sportsbook as well. This really helps customers embrace everything that they want from their sports betting. So great market options and variety of bets really make Betfair an outstanding presence in online betting. While the presentation of odds in the Betfair exchange may be unfamiliar to new users, there are fantastic help guides to help get settled in. It is a system worth exploring and can be great to have alongside other bookmakers. As well as general sports, there is a good focus on horse racing as well as the Sport of Kings gets full attention.
Free Bets & Promotions
The initial bonus available at Betfair is the welcome bonus. This is a free £20 sports bet available when you open your new account. When you stake at least £20 on your first sports bet, the betting exchange will refund you £20 should that initial wager lose. There is a good turnover of wagers on the site as well, being event specific from winning bonuses to money back specials. Great value all around.
Website Design, Features and Operation
The design of the website is very well done and enables users to get around the sportsbook very easily. Things are very clear and fairly self explanatory, which is important for the betting exchange. There is a great Cash Out feature, which allows you take a winning bet before the event is actually finished. Just as with traditional bookmaker sites, there is a great in-play betting service and other sections like Casino, Poker and Arcade. The operation of the website is very smooth and it is quick to get used to. Betfair also provide a tremendous wealth of live sports streams to their customers as well, everything from tennis, to soccer, to basketball.
Because they are a little different, Betfair have had to deliver with help sections, and they do. There are great video guides to watch to get you used to the exchange system, and you can always dip into the forum and find help and tips from experienced users. Alternatively you can browse the Betfair FAQ section. If you want to get in touch with them then you can telephone their UK helpdesk which is open seven days a week, or even Tweet.
Betfair run a loop policy which means that withdrawals have to go back to the source from where they were deposited. Payment methods include Credit Cards, Debit Cards, Paypal, Neteller, Moneybookers, Click&Buy, Bank Transfer, Western Union and Cheques. Most options are free but some methods incur charges and there are different processing times.