Betfair is classified as a betting exchange. They are considered as one of the first innovators that introduced betting exchange. With over 4 million users, the site is a pioneer in the exchange betting world. Player can bet on a particular outcome of an event, but instead of betting against the bookmaker, player bet against each other. Exchange betting offers choices to ‘back’ a team as you would in regular terms, or ‘lay’ if you think a team won’t win. For newbies in the exchange betting world, Betfair provides a guide on their website.
In 2015, BetFair merged with one of their biggest rivals, Paddy Power. In 2016 the merged was complete and Paddy Power BetFair was formed. With this Betfair brand was strengthened furthermore as one of the most recognizable names in online betting, creating the biggest gaming company in the world.
In addition to the exchange betting, they also run a traditional sportsbook as well, offering players the best from both worlds. They also offer an online casino, poker room, bingo, and other gaming options.
The company was set up in the United Kingdom, but they hold licenses in UK, Gibraltar, Malta, Spain, Italy, the United States, Australia, Bulgaria, and Denmark.
Betfair offer great signup bonuses for their sports betting. You can earn up to £30 in free bets by opening and account with them. You need to place a minimum of £10 on single sports bet with the at odds of at least 1.2 (1/5). Once this bet is enrolled you get 3 x £10 free bets.
Betfair are quite popular with the promotions they have on their website. You will find different offers based on your location and whether you are betting in the exchange or the traditional bookmaker. They generally offer a lot of incentives for new customers, like high quality enhanced odds on specific market when you sign up and place your first bet on that market. You can have running acca insurance on football markets and find money back specials cropping up as well.
Betfair’s ‘Refer and Earn’ program can get you additional £25 if you manage to sign up a couple of friend in the same offer.
The betting exchange is Betfair’s biggest f and most popular product. On the site anyone can find great help guides and videos to help players learn the system, along with a user forum.
Another advantage is the cash out feature and it is available on accumulators as well. This provides another dimension of their quality and service in their sportsbook. Their product Acca Edge offers an option which allows the player, after building the bet, to select the Edge on that specific bet, which means for a small sacrifice in odds. The player can take the insurance should the bet lose by just one leg. If it doesn’t then the player will get the stake refunded as cash and this is available on acca’s from multiple sport selections too.
With BetFair you have the usual banking options for payments and withdrawals on your account and across a variety of currencies as well. In addition you get a full list of transaction history in your account. Their customer service support is available 24/7 and 365 days of the year as well.