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Betfair Review

Introduction

Betfair burst onto the scene in 2000 after a chance encounter between two keen gamblers, Edward Wray and Andrew Black. The partnership went on to take the online betting industry by storm and eventually released the world’s biggest betting exchange. It didn’t take long for the brand to build trust amongst the betting community and this point is proven when you consider they were taking revenues above and beyond £50 million by the time they were only 4 years old.

Specifications

  • Number of sports 31
  • Languages EN / DE / ES / FR / GR / IT / PT / RU / IE
  • Deposit/withdrawal methods VISA / MasterCard / Skrill / Paysafecard / Neteller / PayPal / GiroPay / Sofort / Bank-Wire / ecoPayz
  • Statistics
  • Tv broadcasting
  • Average margin 5%
  • Promo available
  • Tax on winnings
  • Number of available markets (max) 179
  • Cashout available
  • Support available 24, email, chat, telephone, twitter
  • License uk, malta
  • Bet limits
  • Restricted countries for registration
  • Currency AUD, GBP, DKK, EUR, HKD, SEK, NOK, USD
  • Results
  • Online Casino
  • Top Bets

In 2013, they introduced their standard sportsbook platform which sits perfectly alongside the exchange to give punters the best of both worlds. It’s not the only operator to offer the combination of an exchange and sportsbook but they are the most experienced, leading the way when it comes to innovation and pushing the boundaries of exchange technology and promotions. Betfair was and is one of the top online bookies but as of 2016, they became an even bigger entity by signing a deal to join forces with Paddy Power. This partnership equates to just shy of £2 billion in revenue and puts them in the position as one of the most powerful betting companies in the world.

Pros and Cons

  • Leading Exchange betting platform
  • Big sports market coverage
  • Regular price boosts available
  • State-of-the-art Betfair app
  • Favourite choice for professional punters
  • Lacking in loyalty promotions
  • Commissions on winnings above £250k
  • Sportsbook odds could be improved
  • The Exchange can be complicated
  • Minimal options in Handicap markets

The PPB company (Paddy Power Betfair) and the Bet fair website is fully licensed and regulated. The two companies respected a lot of trust in their own rights before the merger, and it’s still very much the same now. Both the Malta and UK licenses prove to all of their customers that the site offers a fair betting and gaming experience. The exchange side of the site requires a lot more betting knowledge but you can rest assured that everything is above board and millions of other happy exchange fans can back this up. In addition to this, the Betfair Casino, Betfair Arcade, and Betfair Bingo products all combine to bring a rounded betting experience that gives their players many options every time they log in.

The following review will look into the finer details of the site as we analyse the bonuses, markets, and promotions of this top betting brand. Read on to find out more:

Sportsbook

Betfair Sports Markets

Betfair sports marketsThe number of sports available adds up to a total of 31. The quick links across the top and side of the homepage will take you straight to the action, plus all the featured bets are just a click away on desktop, mobile, and in the Betfair app. It’s not so much the total number of sports but the depth of betting that really grabs your attention. You have all sorts of markets such as Betfair football, racing, the pools, and politics, it’s the obscurity of some of the side betting that catches your eye with the chance to bet on the Christmas Number 1 or whether Prince Harry’s son will get higher GCSE grades than Prince William’s son.

Sports Statistics

Betfair statisticsThe ‘betting.betfair’ page is where you head to when you’re looking to dig down into the stats and data of previous games gone by. It’s a whole site in itself and you’ll easily pass a few hours just reading up on the latest betting news, the Betfair football tips and predictions, and searching through what the Opta Stats section has to say. It’s like a large Betfair community where everyone adds their own tips and thoughts, from the gossip in the football forum to the ex-pro news articles. We don’t think you’ll find a more informed and insightful sports statistics section at any other betting provider.

Betting Markets and Odds Quality

You have around 179 markets to choose from in the biggest events, but we’ve found one or two areas in which they seem to be lacking. The obvious markets where most of the punters place their bets are all easy to find. Quick and easy-to-access in-play markets are essential in getting those quickfire bets in the betting slip and confirmed. It’s the handicap markets that don’t seem to be as detailed here but whether this affects your betting all comes down to if you use the handicaps style bets often, if at all.

Betfair in-play marketsIf we turn our attention to the Betfair sports book odds then you’ll be glad to know that they offer consistently fair odds across their broad selection. However, it’s when we look at the Bet fair trading exchange that the real benefits start to appear. The exchange essentially takes the middleman out of the equation – the middleman being Bet fair – and gives you odds that are around 20% higher than normal. You can see why this area of the site is such a huge attraction for experience bettors who understand the intricate details of backing and laying bets.

Bet Limits

The overall range of betting limits is nothing new here with low stakes as little as 10p and the maximum win on any bet peaks at £1,000,000 for the big-name sports like football and racing within any 24 hour period. All in all, most people need not worry about hitting that kind of payout limit. On the Exchange, it is slightly different with a £2 minimum for multiple bets.

Betfair Results

Betfair event resultsUnfortunately, there’s no such section which provides punters with the stats and data archives of past results. But we hoped to find any the stats and data of the games gone by, and it’s slightly disappointing not to have this feature on the site yet. So, we will look forward to having it in the future.

Betting Tools

Live Streaming

The video streaming options at the site are well covered with a simple schedule list to navigate. The option to filter through all the upcoming sports that are available to stream is a useful feature and this is all mobile-friendly as well, which adds to the free-roaming betting experience that we have come to know these days. The only downside here is that you need to bet on any event that you want to watch. It’s not a huge issue but compared to other competitors they are falling behind in this area of the betting service.

Betfair In-Play Schedule

The in-play page is well thought out with a simple layout that uses dropdown menus and quick links to help you find your bet easily. Scrolling down the page will bring you to the upcoming events with another quick-link menu to change the sports type and betting markets. Bet fair doesn’t include every sport within its in-play schedule but all the top ones are there to keep the main betting customer market entertained.

Betfair Sports Bonuses and Promotions

Betfair promotionsThe bonuses and promotions on offer to the Betfair community are consistent across all of the online betting products, with welcome packages apparent in the Exchange, Betfair Casino, Betfair Arcade, and Betfair Bingo platforms. The promotions available to all existing players tend to be more tailored towards the big sporting events rather than long-standing reload bonus types. Here’s the rundown of some bonuses and promotions on offer at the moment:

Betfair £100 New Players Bonus

All players signing up to the Sportsbook are eligible to take up the £100 free bonus offer. After you have signed up and made your account, you’ll have to wager 5 x £10 bets with odds of at least 1.50 to receive a £20 free credit bet. You can then repeat this another four times to rack up the £100 in total. It’s a useful promotion for sportsbook fans that provides a sufficient amount of money in the account while you find your way around the site in the first few weeks.

Exchange Promotions

If you think the Exchange is more your type of betting style then these two offers might be more appropriate for you. First, only available to new players, a £20 free bet will be given to those who lose out on their first bets on the Exchange. Register your account and then enter your Betfair exchange login details, place at least £20 in bets to qualify and then that bonus is yours.

The Betfair Exchange also offers the ‘Cash Race’ promotion after you’ve enjoyed your free bets. The Cash Race essentially rewards you with prizes when you hit wagering targets on the exchange. It’s a nice loyalty-based offer that keeps the money topped up in your account.

30 Arcade & Casino Free Spins

We did say that they have a lot of welcome bonuses up for grabs, and the deals keep on coming for those players who enjoy the Casino and Arcade-style games on offer. Take your pick on which platform more suits your style and then either way you choose, Casino or Arcade, you’ll get 30 free spins if you join the site.

OddsBoost Offers

You’ll need to check back on the site each day to make the most of the OddsBoost offers as they come and go quickly. Boosted odds on doubles, triples, and sometimes accumulators are offered on big games across the weekend or any of the major league mid-week matches. Both new and existing players are free to take up these offers but there is almost always a maximum bet limit in place.

Acca Edge

The Acca Edge is one of the more recent promotions to the site and effectively gives you insurance on your acca. By accepting Acca Edge you will take slightly smaller odds but you’ll be guaranteed your stake back if your bet loses by one selection. This promotion is only available on bets with three selections or more, and we think it’s definitely worth it if you find yourself always missing out on a big win by just one selection.

Betfair Cashout Feature

The ‘Cashout’ feature works so effectively because, well, who wouldn’t like the opportunity to take the money and run? The concept is easy to understand, for example, if you’re bet is winning and your last selection or last few selections look a little uncertain due to, say an injury to a player or a change in the weather, you have the option to ‘tap out’ and make a profit. You don’t want to use this too often though because although things can sway against your bet at the last minute, there are times that it can also go your way and hanging on pays off!

Betfair Banking options

Whether you are banking in the Betfair Arcade, the Betfair Casino, or the exchange, the minimum deposits are set at £5 for debit, credit, and PayPal options, rising up to £10 and £12 for Skrill and Neteller. Maximum deposits sit around the £20k-£40k mark for most options so there is no worry for most people there, plus you can make all your transactions within the Betfair app as well. Their recent merger with top bookie Paddy Power also allows you to fund your account via their shops which helps a lot of punters who are used to bet with both brands.

The withdrawal options are favourable to all players with no limits specified, apart from £1 with PayPal, £2 with Neteller and £10 via Bank Transfer set as a minimum amount. If you’ve got a Visa debit card and you’re in the UK, Ireland, or Spain then we suggest looking into the Fast Funds option where you can get your winnings transferred within 2 hours, which is the fastest route to getting your money. For all other options, you can expect to wait around 2-5 days before your funds are with you.

Payout limits are again as you would expect from a top betting operator and the maximum value is set to £1,000,000 for top events and gradually decreases in size as you move down the list of less popular sports. Lastly, we want to clarify that all of your winnings are indeed yours, and that means you don’t need to submit any tax returns to the taxman in the UK. Other rules may apply in different countries.

Betfair Customer service

Betfair customer support pageThe company might be young in comparison to their top competitors but they don’t show it when it comes to running a global betting operation, and this includes an excellent support team who you can contact 24/7 to help with your inquiries and betting-related questions. We suggest that you take a look at their detailed FAQ page where you’ll find solutions to many of the common questions asked by customers. Read through help articles on banking, Betfair exchange login issues, using the API for your own applications, Betfair football promotions, you name it, you’ll be able to find some useful information on it in the FAQ section. If, however, you’re still in need of assistance then you can choose one of their many customer contact methods below:

  • Live Chat
  • Email
  • Phone
  • Twitter
  • Facebook

In our experience, you are rarely left waiting for more than a minute until someone is available to talk with you on the Live Chat, and emails and Twitter messages are often replied to within 24 hours. It all adds up to a smooth customer support service that helps to keep their huge customer base free of frustration.

Conclusion

The accidental encounter between Wray and Black in 1999 will go down as a big milestone in the history of betting. The birth of the Betfair brand in 2000 gave punters around the world a new view to betting with the first online exchange. It does take time for trading beginners to get their head around the whole idea of setting your own odds and laying bets, but once you do start to understand it all, you’ll find yourself spending a lot of time there. The Betfair sportsbook is a strong betting platform in its own right, but the only major downsides that we can pick is that their promotions could be a bit more abundant and there is room to improve the odds. The fact that they have the exchange gives them an excuse to move players over from the sportsbook if they want to find the best odds, so in that sense, it all comes together quite nicely.

The site offers more than enough to keep customers loyal though, this point is proven by the fact that Betfair is the go-to site for most of the professional gamblers in the UK and Ireland. The exchange is the biggest attraction for the brand, but the sportsbook and its Acca Edge and other promotions help to keep players betting with insurance-backed bets. Betfair offers consistency across the board and although there are some areas where they could improve like odds and promotions, players know where they stand and that goes a long way when it comes to brand loyalty. The merger with Paddy Power has given them a solid foundation with huge revenues, and it looks like their reign as the top exchange betting site is set to last for a long time.

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