Just putting a bet on and waiting for the result isn’t your only option anymore. With Bet In-Play and Cashing Out, betting at Betfair is far more fun and interesting. Also new customers can get a fabulous £30 Free Bet Offer when they open a new Betfair Account. You will need to place a Sportsbook (Fixed Odds) bet (minimum stake £10) at odds of at least 1.2 (1/5) within 30 days of opening your account. Exchange bets are excluded from this promotion. Terms and Conditions Apply!
Below is an in-depth review of the Betfair online betting website:
Betfair is different to most online bookmakers because it’s an online betting exchange, meaning that instead of betting against a bookie, you are betting against other customers who are also using their betting platform.
This concept of exchanging bets was introduced by Betfair themselves. The way to think of the Betfair betting exchange is that there are buyers and sellers of odds, and Betfair simply takes a small commission on winning bets for providing the service. The winning fee of 5% taken by Betfair gradually decreases to as low as 2% the more bets you place.
Imagine having a beer with a mate and you have a bet on the outcome of a football game. You tell him you reckon the Spurs will beat Arsenal, but your mate thinks otherwise. So you decide to place a cheeky £10 bet between the two of you, which should make for a more entertaining football game. This is the simplest form of sports betting, and this is essentially how Betfair operates, except they take a commission from winning bets.
Their online betting exchange was first introduced more than a decade ago now, and it revolutionized the online sports betting industry at the time. Betfair bookmaker is home to close to 4 million customers worldwide, which serves as a huge user base allowing punters to tap into the most popular sports bets.
Sports Betting Markets
Even though it’s not a normal bookmaker in the traditional sense, Betfair bookmaker still offers a wide range of sporting events you can bet on, including the football, tennis, golf, mixed martial arts (UFC), basketball, rugby, snooker and many other televised events. There’s over 30 sports betting markets to choose from.
At Betfair Sportsbook, if you register for a new betting account, you’re eligible to receive £30 worth of free bets if you stake £10. You will actually get 3x £10 free bet tokens. These free bets can be used immediately after they are credited to your account, which will usually be within 24 hours of making a qualifying bet.
Interface & Features
The Betfair bookmaker interface has a striking similarity to a stock exchange website, your lay and back odds is the same as buying and selling stocks. Unlike traditional online bookmakers who have a team of specialist odds makers, Betfair’s odds are set free by the punters themselves.
Within the Betfair bookmaker platform, you can quickly lay and back bets respectively on your preferred sporting events, and even making multiple bets. Your potential profit if you were to make those bets will be displayed in the bet slip on the right of their website. There’s also a wide variety of in-play betting options for punters.
It is also possible to open an account at Betfair on a mobile device. Their betting exchange is compatible with most modern mobile devices, including iPhone, iPad and Android phones.
All in all, Betfair is a top-notch betting exchange that is improving all the time. Create an account with this bookie and find out what all the hype is about for yourself.