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BETFAIR REVIEW 2022 - SPORTS BETTING REVIEW

OUR OPINIONS ABOUT BETFAIR

  • Award winning betting exchange.
  • Odds are usually extremely good value.
  • Solid all performer with live streams.

Online-Betting Rating:

Betfair is a globally renowned online gambling company which became the first of its kind when it was launched back in August 1999 by founders, Edward Wray and Andrew Black.

It is the world’s largest online betting exchange which offers amongst the most competitive (if not THE most competitive) odds across the whole of the online betting industry.

It is now owned by Flutter Entertainment (which also owns the Paddy Power online gambling site), and its offerings include a sportsbook, online casino, online poker and online bingo.

Betfair Exchange also offers punters the chance to not only back their chosen team or individual, but also offers the option of ‘laying’ a bet – ie betting on a team or individual to lose.

But without further ado, let’s explore the world of Betfair and how to navigate our way around the site with our Betfair Review.

Registration Process – 4/5

The registration process and simple and straightforward to follow.

  • In the top right-hand corner of the Betfair landing page, click on the Join Now button to get started. This will open a new window with the details shown in the image below:

betfair signup

  • The next step is to complete your personal details, ie Male or Female, First Name, Last Name and Date of Birth (you must be over 18 years of age to bet with Betfair)
  • Next, choose the country where you are based from the drop-down box and confirm your Postcode or Address (there is a link to click on where you can enter your address manually), and then enter your contact number (a mobile no is required here)
  • Account Details are required next; the customer needs to fill out the boxes with their email address and password and then set up a security question and answer (to secure the individual’s account details against potential hackers or fraud). Options to choose from in regards to a security question include:
    • Father’s first name
    • Mother’s first name
    • First School
    • Mother’s maiden name
  • After setting those details up, the user is then asked to choose which currency they would like to bet with ie UK Sterling (GBP) but don’t worry, there are seven others from which to choose.
  • The next step is to set up a deposit limit and time period. You can also limit the amount of funds used on the Betfair account. Below that, fill in the box for promo code/referral code (if applicable).

Once all the fields have been completed, hit the yellow Join Now button to add funds and start playing the Betfair markets.

Deposits & Withdrawal - 5/5

deposits

It is very easy and straightforward to deposit funds into your Betfair account by clicking on the deposit button at the top of the main page, it then takes you to the deposit page where your chosen preference for depositing funds is the default option ie Debit Card details.

Enter the amount you wish to load onto your account (minimum is £5, maximum is up to £5,000 daily amount). Then enter the Card Security number (usually the three digits on the reverse of the
debit card) and then hit the yellow Deposit button.

It couldn’t be easier, whilst also ensuring the user’s card protection. The funds are loaded onto the Betfair account instantly, and you’re ready to go.

Deposits

Method Minimum Maximum Processing Time
Neteller £12 £32,500 Instant
Skrill £10 £32,500 Instant
MuchBetter £10 £20,000 Instant
Paysafecard £5 £400 Instant
Rapid Transfer £10 £4,000 Instant
Bank Transfer £10 Instant
Paypal £10 £6,000 Instant

Withdrawals

As with the Deposit process, Withdrawals can also be made easily. With your chosen method of withdrawal being set as the default ie credit/debit card.

Choose the amount you wish to withdraw, hit the yellow Withdraw button and the funds are returned to your chosen method ie credit/debit card.

Alternative options include Bank Transfer which does not carry a fee, or Bank Transfer Express which is instant but carries a £6 fee.

To sum up, Betfair have made the deposit and withdrawals process very simple and easy, making it one of the most popular online betting sites for customers.

Method Processing Time Fee
Credit/Debit Card 2 working days Free
UK Standard Bank Transfer 2 working days Free
UK Express Bank Transfer Next working day £6


Claim your sign up offer *
Betfair

Betfair £30

  • Register at Betfair
  • Place 5 single bets of £10 or more (5 x 10)
  • Get up to £30 in bonuses!
    KEY T&C: New Customer offer. Place a min £10 bet on the Sportsbook on odds of min 1/2 (1.5), get £30 in Free Bets. Rewards valid for 30 days. SMS verification required. Only deposits via cards will qualify. T&Cs apply. Please Gamble Responsibly
  • Find more on our Betfair offers page.

Site Layout – 4/5

Desktop

Quite a busy layout at first glance but when you take your time looking around the landing page there is a lot of information, sports, fixtures, data and general quick links at your fingertips.

The list of sports available to bet on are indicated vertically as a sidebar on the left-hand side of the page, listing the most popular sports such as Football, Horse Racing and Tennis etc, but there’s also the Special Bets markets which cater for the likes of BBC Sports Personality of the Year 2022, Strictly Come Dancing, Eurovision 2023 Host City and The Oscars 2023.

betfair layout

Along the top of the page, topics such as the normal Sportsbook site, Casino, Live Casino, Exchange Games, Bingo and Virtual Sports can be found which attracts an even wider audience than just that of sports betting.

On the Exchange page, each sport or event has a ‘Back’ or ‘Lay’ column, indicated in blue and pink colours respectively, which highlights the odds on whether you wish to bet on an outcome happening (blue – Back) or to bet against an outcome happening (pink – Lay).

To place the bet, simply click on the odds relating to either Back or Lay, choose your stake and then hit the yellow Place bets button – very simple to use and the bet is placed straight away*

  • When placing bets on an In-Play market. There is a slight delay of around 2-3 seconds while the bet is processed as the event is being played.

The site also offers the punter a lot of information with regards to background data, statistics and previews/top stories via the Tips & Previews button at the top of the landing page.

There is also an ongoing Forum to cater for the Betfair community which includes blog topics for numerous sports, while for the serious punters and professionals, Historical Data can be purchased to identify specific trends of historical odds etc.

Mobile

As you’d expect, this is a smaller ‘lite’ version of the desktop site but still very easy to navigate. The major topics are represented as icons at the bottom of the screen, rather than at the top as per the desktop version.

The home button returns you to the landing page while sports and events can be found by tapping the AZ Menu – this includes icons for in-play fixtures, promotions etc along with popular sports icons such as football, horse racing, tennis and golf.

Scroll down a little and all sports are listed from A-Z which makes it very easy to find the particular sport or event you want to concentrate on.

The Cash Out icon indicates which events you have placed a bet on which possess the Cash Out option, while Sportsbook takes you to the Sportsbook site and Casino includes Slots, Live Casino and the newest releases in the gaming world.

As with the desktop version, the options of Backing and Laying are included as well as the ability to build your multi bets (or Acca’s), by tapping the ‘Multiples’ button.

Odds - 4/5

odds comparisons

Betfair’s odds are considered to be amongst the best in the world of online betting. Although it is worth bearing in mind that a 5% commission is deducted from any wins that the customer earns.

Even so, with the commission taken into consideration, the odds are still in the upper quartile of the odds on offer across the online betting industry. Betfair’s odds often outstrip competitors on the Exchange platforms such as Smarkets, SpreadEx, Matchbook and Betdaq, to name a few.

Commission rates vary for settled winning bets across these companies as indicated below:

  • Betfair – 5% commission rate on winning bets
  • Smarkets – Select Tier 3% commission rate on winning bets (Pro Tier 1%)
  • SpreadEx – N/A
  • Matchbook – 0% on all sports for 90 days new players/2 % commission rate on winning bets (UK and ROI customers)
  • Betdaq – 2% commission rate on winning bets

Although Betfair carries the largest commission percentage, their odds are still generously priced for one of the largest selections of sporting genres in the whole market.



Markets & Events Coverage - 4/5

markets

There are some 26 different sports on which to place bets, each sport coming with its own list of individual markets within each fixture and this places Betfair among the best online bookmakers in the world.

In the Football section alone, the majority of fixtures either listed to be played on any given day are catered for, while the in-play markets list almost all of the football fixtures being played live as well.

All of the usual betting markets are present within a football fixture, such as win, lose or draw options, goals markets, player cards and corners. But the serious football bettor also has the option of using the Asian Handicap markets as well – something that separates Betfair from a lot of the other online bookmakers and a tool that serious football betting customers use.

betfair markets

As well as sports, there’s the Special Bets section, Gaming and Casino betting as well as Virtual Sports betting. Horse Racing features prominently in this market (Flat, Jumps and Sprint) along with Club Football, Football World Cup, Greyhounds and Motor Racing.

Events Coverage

As with the betting markets for each sporting genre, events coverage also has a comprehensive presence on the Betfair site. For example, Tennis (US Open), which covers Mens, Womens and Mixed Doubles markets with the Mens Tournament listing the individual singles matches, To Reach The Final, Outright Winner and also Doubles matches.

Other major sporting events such as the Grand National, Champions League football, Golf tournaments and Boxing events also provide comprehensive betting opportunities and Betfair are not slow in producing promotions surrounding these events, nor slow in also providing competitive odds into the bargain.



Streaming – 2/5

Live streaming for sports events is provided but you may need to place a bet before being able to access the stream, and in some cases, there is a minimum stake required to watch the live event on your desktop or mobile device. For example, for Tote GB bets, there is a minimum bet of GBP2 required to watch that particular race.

Betfair Live Video is also subject to delay which is something potential customers should be aware of, while the variety and scope of Betfair’s live streaming service is nowhere near as comprehensive as that of say, bet365.

Sportsbook – 4/5

Betfair is one of the few online bookmakers that offer both the Exchange platform and normal Sportsbook platform, with the latter resembling the norm in terms of an everyday online bookmaker.

Betting options are purely based on backing a team or individual to win, so there are no options to back against an event happening on this platform, as is the case with the large majority of online bookmakers.

As with the Exchange, Betfair’s Sportsbook offers the same comprehensive list of sports and Special Bet options while also offering various promotions for customers using this particular platform. These include Daily Odds Boost, My OddsBoost (US Open), Extra Places (for Horse Racing, places payout for first 4 places, not 3 on a particular daily race) and Free Bet (Bet GBP10 and receive a free GBP2 bet on an Acca).

The Sportsbook platform option is also available on the mobile app.

Existing Customer Offers - 3/5

Existing Customer Offers

In this category, we will split the promotions and offers for existing customers between Exchange and Sportsbook platforms to make it easier to distinguish between the two sets of promotions.

Exchange

Existing customers can receive a free GBP5 bet on the Exchange which can be used on one of the daily Odds Boost offers which is also offered by the Exchange as well as Sportsbook.

In addition, other promotions that can be claimed by existing customers on the Exchange are as follows:

World Cup 2022 – Free historical data offer

Refer and Earn – Earn GBP10 in cash for every friend you refer (Max 5 referrals)

Best Odds on Major Football – Betfair Exchange offers the best prices against selected bookmakers even with the 2% commission rate taken into account; selected bookmakers were:

  • Betfair Sportsbook
  • Paddy Power
  • SkyBet

Sportsbook

  • My OddsBoost – Boost odds 3 times per day (Max stake GBP25 per play)
  • Boost Your Odds on Racing – Exclusive to Sportsbook (must be used on Horse Racing or Greyhound markets)
  • Get A hand with Bet Builder – Easily place with one tap (a how-to Guide)
  • Claim Your My OddsBoost Token – GBP50 max stake


Customer Service and Site Security - 3/5

Customer Service and Site Security

Hit the Help button at the top of the landing page and the world of Betfair Customer Service opens up before you, with some examples of popular questions that are asked eg Account and Payment Help.

Below these, there are specific categories where the customer can gain further information:

  • Verifying Your Account
  • Login and Registration
  • Deposit & Withdraw
  • Safer Gambling
  • Sports
  • Gaming
  • Promotions & Rewards
  • Other – includes Complaints Procedure, reporting a security incident, changing the username and other technical advice

There is also a Get in touch button to click on if you would like to speak to an assistant on their chat function for other issues that aren’t listed in the categories above.

The chat function is open 24/7 and most issues can be fixed via this option.

Telephone betting is also offered with Betfair – customers can call the following number: 0344 871 5000 (UK) and quote their TAN (Telephone Account Number)

There are also various Tutorials available for customers to explore on the Exchange site via the Education tab at the top right of the landing page, and the Beginner Guides cover topics regarding using the Exchange platform as follows:

  • The Exchange Basics – Learn how the Exchange works, what it looks like and how to place a back bet
  • Laying and Trading – How to place a ‘lay’ bet and to trade on the Exchange
  • Decimal Odds – Understand how decimals work on the Exchange
  • Trading Sports – Learn how to use the Exchange for betting on racing, football and beyond

For the more experienced Betfair users, there are Advanced Guides that are available to customers to use as a reference tool for specific areas of betting on the Exchange such as ‘Back to lay and lay to back’.



What Do Other Sites Say?

ThePuntersPage

“One of the best betting exchanges for UK customers”

“Commission rate of 5% on winning bets”

“Best betting exchange for back bets”

freebets.com

“The world’s biggest betting exchange”

“Fixed odds, cashback specials and bonuses added to winnings on multiple bets”

“Wide range and coverage of daily enhanced odds offers”

bettinglounge.co.uk

“In conclusion, Betfair offers a very decent betting experience via their sportsbook or exchange”

Betfair Review Rating - 4/5

Betfair review

All in all, Betfair provides an exceptional selection of sports and betting markets within all the different sporting genres as well as catering for non-sports-related markets and the gaming community as well.

Odds are generally quoted amongst the best and most competitive across the online betting industry, offering options of both backing and laying a team, individual or event for the customer, while also providing excellent customer service in the event of technical or account queries.

Anyone new to Betfair or unfamiliar with how the betting Exchange works, Betfair also provide handy How-To guides on various topics regarding exchange betting, so the customer can get the most out of their betting experience on the Betfair site, whether that be on the Exchange or the Sportsbook.

If you’re serious about sports betting and want access to the best odds around, along with the most comprehensive markets within a particular sport, then Betfair delivers on both counts. They provide a user-friendly platform from which to place bets – they also make it easy to open an account, deposit and withdraw funds as well.



FAQ

Who owns Betfair?

From 2016, Betfair became part of the Flutter Entertainment Group when Betfair and Paddy Power merged companies.

Do Betfair offer best odds guaranteed?

Yes – at Betfair, it is available on all UK and Irish horse races and selected UK and Irish greyhound races, so if you place a bet on odds that are lower than the SP (Starting Price), then Betfair will pay out at the larger odds.

Here’s how to claim Best Odds Guaranteed with Betfair:

  1. Log-in to www.betfair.com.
  2. Place your horse racing bets as normal (singles only).
  3. If your horse starts at a bigger price then Betfair will pay you out at the bigger odds.

How long does it take Betfair to pay out?

Withdrawals can take anywhere from 2 to 5 working days to be fully processed