Betfair Review

Who are Betfair?

Betfair – the leading sports betting exchange – has revolutionised the betting industry. The company has over a million customers worldwide and, unlike traditional bookmakers, the odds for all sporting events are set by Betfair users.

You can also choose to ‘lay’ a horse or team as well as backing your chosen selection.

Betfair offers some of the best odds available for racing and sporting events and, on average, odds are 20% better than the Australian TAB.

Top Five Benefits:

• Choose whether to back your selection or whether to ‘lay’ it on any sports event
• Racing Zone provides Betfair back and lay odds alongside NSW TAB, SuperTab and Unitab markets which is useful for comparing comparative prices
• On average, odds are 20% better than those offered by the Australian TAB
• Trade your bets so you profit no matter which of your bets wins
• Quick bet settlement

Promotions

Betfair currently do not have any bonuses available for new account members.

However, they offer a range of benefits to members including tipping competitions, enhanced bets and, of course, odds which are on average 20% better than the Australian TAB. Odds are higher as Betfair charge around 5% commission on any winning bet which means their margin is lower than traditional bookmakers.

Racing Betting with Betfair

Some of the more popular betting types at Betfair:

• Fixed Price – A fixed price taken at the time of placing your bet
• Places – back or lay a horse to be placed in a certain race
• Bank and lay – Betfair allows you to back your selection to win in the normal manner or you can do the opposite and lay your selection to lose. As you can either back or lay a selection you benefit from the additional option of being able to trade your position and lay your bet back if it looks the likely winner, to guarantee yourself a profit
• Tote service – Betfair provide a tote service in unison with Tote Tasmania which is a member of the SuperTAB pool. This combines bets from Tabcorp (Victoria), Racing and Wagering Western Australia, ACT Tab, and TOTE Tasmania
• In-running – you can place bets during horse races, right up until the final seconds

Company Information

Betfair is Australia’s only licensed betting exchange. It offers punters better odds, greater choice and more control over their betting experience. The service is a joint venture between Betfair in the UK and Publishing and Broadcasting Limited, and is licensed in Tasmania, with its main operation based in Hobart.

Betfair is licensed and regulated by the Tasmanian Gaming Commission and offers many deposit methods in a completely secure environment.