Betfair was launched in the UK in 2000. They are the biggest internet betting exchange in the world. In 2016 they merged with Paddy Power to form Paddy Power Betfair.
In this way was created the biggest gaming company in the world and they also run a traditional sportsbook as well, giving punters the best of both worlds.
- Highest odds
- Free bets offered
- Bonus requirements
You can get in touch with Betfair customer support by phone, and there are toll-free numbers depending on where you are calling from as well. Also, to write them an e-mail is a fast way to get in touch. They offer assistance 24/7 and 365 days of the year as well.
Deposit and withdrawal methods
Deposit Methods Include Visa, Mastercard, Visa Electron, Delta, Bank Transfer, Cheque, ClickandBuy, EntroPay, Neteller, PayPal, Poli, Skrill, Western Union.
Withdrawal Methods Include Visa, Mastercard, Visa Electron, Delta, Bank Transfer, Cheque, EntroPay, Neteller, PayPal, Skrill.
Depositing money into your account and withdraw earnings are free of charge.
The odds quality at Betfair is very good. At Sportsbook, you will find good odds, almost on the top market. The beauty of the exchange is that if you can’t find a price that you like for a wager, then you can set your own and as long as someone matches it, it will be active. That is what peer to peer betting is all about, finding value and there are stacks and stacks of it at Betfair.
The important thing to remember is that Betfair doesn’t act like a traditional bookmaker. Commission on winnings runs about 5%-7%. You can also find plenty of non-sports markets like financials at Betfair as well.
One big advantage to open a Betfair account is for In-Live bets. Just by the nature of the betting exchange, it fits in perfectly with live in play betting.
Betfair charges a commission on your net winnings on each market. If you have a net loss in a market you do not pay a commission. The standard commission is 5% for sports and 6.5% for Australian racing. A commission discount of up to 60% is applied based on how active you have recently been on the exchange.
Transaction Charges: In addition to commission payments, Betfair customers are charged a transaction fee if they process a large number of transactions (1,000 bets an hour).
A small number (less than 0.5%) of Betfair’s most successful customers will incur Premium Charges. Any customer affected by the Premium Charge will be notified in advance.
Each week Betfair calculates the ‘gross profits’ and ‘total charges’ generated over the lifetime of each member’s account.
A member is only considered for the Premium Charge if their account is in profit and their total charges generated since joining Betfair are less than 20% of gross profits. Any single win that constitutes more than 50% of lifetime gross profits is excluded from the calculation, and customers will only be considered for the Premium Charge after they have bet in more than 250 markets. Each customer also has a £1,000 allowance against the Premium Charge. This means that every customer considered for the Premium Charge will be exempted from the first £1,000 of the charge incurred.
You can earn up to £30 in free bets when you roll up and open an account with them. Just go and sign up with our dedicated promo code for an account and then go and place a minimum of £10.
Betfair does run a cash out feature and it is available on accumulators as well.