Betfair Review
The world’s leading online betting exchange.
- 15 million bets matched per day
- Competitive Odds
- Great range of markets
- Quick withdrawals
Betfair is a player-to-player betting site (exchange) where punters choose the odds. As a result you get better odds and bigger payouts. Punters act as the bookie and offer odds (laying) to potential backers. Backers can then choose whether to accept those odds or wait for better odds from another layer.
A wide range of events is available for betting including sports, novelty bets, politics and financial bets. Also available is an impressive In-Play system, an array of exchange games, poker and a zero house edge Casino.
Betfair charges a commission on your net winnings on a market. If you have a net loss on a market you do not pay commission. Commission is calculated by multiplying your net winnings by the Market Base Rate (MBR). For example, if you win £100 on a market with an MBR of 5%, you will pay £5 in commission. However, you can earn discounts from this rate for betting more. The size of this discount, or your Discount Rate, is determined by the number of Betfair Points you have accrued on your account.
If you are a UK registered customer you are betting through the UK exchange, which means that your bets are being matched by other Betfair customers. In this case, although Betfair knows who is on each side of every bet matched, you never know who you are betting against, as it may be a number of people matching your one bet. If you are registered with Betfair from outside the UK you are betting directly against Betfair rather than other Betfair customers , but in all cases your privacy and the confidentiality of your bets is maintained by Betfair’s secure site.
Betfair customer service has a quick response time, and the site also features an in-depth FAQ guide, to help newcomers who may not be familiar with exchange betting .
Pros Cons Choose your own odds Highest commission of all exchanges Extensive markets Site can be extremely slow to navigate 15 million bets matched every day Takes time to get used to how site works Quick withdrawals
Information Website:
www.betfair.comEstablished:
1999Telephone:
UK: 0844 871 0000
Ireland: 1800 944 000
Australia: 1800 644 738
Intl: 0044 20 8834 8060Email Support:
info@betfair.comAddress:
Betfair PO Box 34467 London W6 9WS United Kingdom
Betfair
My rating: stars
