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This Betfair review will teach you everything you need to know about this popular betting exchange. Betfair, on top of its massive sports betting and racing operation, is a giant in the world of online casinos. It is, comparatively, an ancient giant, born some twenty years ago. It’s famous for being the first betting exchange, allowing you to create your wagers and odds, and inviting others to bet against you. In return, Betfair takes a commission for their service and the use of their platform.
Betfair also operates in Australia where it is part-owned by Crown Resorts, with it very popular in the horse racing world. Australians are unable to play casino games at the Betfair.com.au domain because of local laws. This means parts of our review and any mentions of bonus offers are intended for our International readers.
Betfair was a brilliant idea, and it worked well, but that didn’t mean they weren’t interested in more traditional bookmaking. In 2012 Betfair launched a regular sportsbook for punters who prefer that option. The sports betting offering is enormous in its scope and, as we’ll establish in this Betfair review, efficient in its execution.
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Betfair Racing Review
Betfair offers odds on thoroughbred racing, harness racing and greyhound racing. The site is quite busy, and elements tend to be compacted. The menu bars at the top are pretty handy, and they provide a quick way to access a particular sport.
Tabs at the top right also provide easy navigation to “next races”, “future races” and a “bet and watch” live stream option.
Betfair cleverly allows access to loads of information without requiring sign-in. The design of all that is on offer is sufficiently enticing to lure in even the most jaded punter
We’ll look at some of the highlights of their exchange and sportsbook offerings in this Betfair racing review.
Betfair Horse Racing
Betfair provides odds on international horse races in real-time. The site displays results with finishing times and a link to the event video is accessible when you’re logged in.
Information about the event and participants is extensive and includes a horse’s recent form, the names of the jockey and trainer, age, weight, and previous odds.
You’ll find favourites of the day on the right of your screen, and you can also view full race cards there. It’s again worth noting that all of this is accessible without logging in or signing up. The site, therefore, provides excellent insight into the quality of the service to be expected inside.
Betfair aims to impress with their horse racing service. They offer ‘Best Odds Guaranteed’ for their UK and Irish races. Contracts with At The Races and Racing UK allow them to provide live streaming of those events on their site. Understandably, you’d need to be signed in to view these races. Nonetheless, Betfair horse racing feels like a premium service.
Betfair Sports Betting
Betfair is popular amongst punters for the wide variety of sports and novelty events you can find for pre-game or in-play wagering. They are also renowned for offering the best odds in the field, which they can do on account of their size.
They’re also not shy to offer frequent Odds Boosters for betting on major events like Premier League soccer, La Liga and the like.
Clicking on “All Sports” on the main page left opens up most of the sports loved by Australian fans and many besides. The obvious options are there, like soccer, rugby league, Australian rules football, rugby union, boxing, golf, tennis, American football, cricket, and many more. Betfair sports betting is a marvellous spread indeed.
You’ll also find more exotic options, like Gaelic games, esports, poker, and mixed martial arts. There’s even a fascinating “Special Bets” section where you can bet on things like Prince Archie’s first career, the country in which he’ll attend his first year of school, the identity of the next Bond actor, or what on earth Conor McGregor will get up to next.
Betfair provides traditional and special betting markets either in the exchange or via the sportsbook. You can, therefore, wager against either the house or other punters. In-play betting is accessed through a quick link on the right of the page. Clicking it opens a page of live events, and you can scroll down to find your event of choice.
Betfair Mobile Review
The layout of the Betfair site is frequently praised in reviews for its elegant design. We can confirm that navigation is effortless, and it’s virtually impossible to get lost or confused. The same characteristics have been carried over to the mobile version, which is available for download on both iPhone and Android devices.
The mobile version doesn’t take away from the Betfair service. It was our experience during the Betfair mobile review that features such as in-play betting, banking and, where applicable, bonuses and promotions, are all where they should be and accessible to users.
Whether you’re in bed or on the move, Betfair provides the same excellent platform for mobile users of the sportsbook.
Betfair Payment Types
A full list of the methods available for deposits can be viewed when you log into your Betfair account. Clicking on the “Deposit” button found at the top right-hand side of the home page will give you all the information you need. Betfair payment types are numerous, and every user should be comfortable with at least one of them.
They accept all major debit cards, as well as Skrill, ecoPayz, Webmoney, Paysafecard and Neteller. Most minimum deposits are AUD10 while other payment methods may have different limits.
Users should be able to determine such thresholds from the “Deposit” information described above. Further deposit options include debit cards such as Delta, Solo and Maestro, services such as Western Union and cheques and bank transfers.
The banking function of the site is quite straightforward and, once a suitable source is selected, the transfer of funds shouldn’t be the cause of any delays or confusion.
Betfair Cash Out Options
To comply with regulations, Betfair applies what’s called a ‘Closed Loop Policy’. This means that if you deposited into your Betfair account from one source, you have to withdraw your funds back to the same source.
This seems straightforward enough, but things do get tricky if you deposited from more than one source and you now have winnings in your account. In such a case, you’ll first have to balance each source so that the net withdrawals to each source equal the net deposits made from that source. Only then can you withdraw the balance to a source of your choice.
Our advice is to always use one source for deposits and withdrawals and to plan your banking accordingly. If balancing sources is half as confusing as it was writing the previous paragraph, you want to avoid it.
The minimum withdrawal is AUD10 and payouts are reported to be quick, even when it comes to bank transfers. The fastest of the Betfair cashout options are ewallets, which are said by Betfair to take 12 hours but experienced by users to be quicker.
There’s also the ‘Cash Out’ feature, which is a handy tool during in-play betting for punters to cashout their wagers before an event reaches its conclusion. You can use it when a game or race isn’t going your way, to secure, at the very least, your initial stake.
Another way to use this feature sits at the opposite side of the spectrum. As an event unfolds, it may be going your way, but perhaps the competition is edging too close for comfort. In this case, you can utilize the ‘Cash Out’ feature to secure your winnings before the odds swing in the opposition team’s favour.
However, each cash out amount depends on the sport, the current odds, and the current performance of your backed team or pony.
Betfair licensing and security starts with the UK Gambling Commission and the Malta Gambling Authority. These are generally regarded as the two most prestigious licenses in the industry. This is due to the strict requirements and frequent verification of compliance. These licenses also imply a strong duty of care towards users.
Betfair Group Plc is listed on the London Stock Exchange, which brings its own compliance requirements. Betfair is certified by eCOGRA, an external monitor for the fairness of games and payment processes.
The casino is furthermore audited by Technical Systems Testing, which is an accredited testing facility that ensures safety and security.
128-bit SSL encryption is used to secure the personal and financial information of users. It’s therefore fair to say that Betfair can be used without concerns for the exploitation of punters or manipulation of outcomes.
Betfair Conclusion and Final Rating
The experience of this sportsbook and exchange shows up in the elegance of its site design, the innovation inherent on its platform and the sheer scale of its services. Similarly, our ability to find what we were looking for in seconds showed the quality of the layout and mechanics.
The racing markets are a delight to access and Betfair compacts a lot of information into a glance or two. Their respect for horse racing as the go-to sport for race betting is evident, but that doesn’t mean Betfair skimps in other areas.
On the contrary, punters will find an extensive selection of sports betting markets and even a fully-fledged mobile app. But the reason Betfair is among the best online betting sites is its betting exchange, will essentially allows you to layoff horses and sports events you don’t think can win.
Our Betfair conclusion and final rating is, therefore, that this sportsbook and exchange provide a product that comprehensively meets the needs of even the most pedantic punters.