How Does Betfair Exchange Work?

The Betfair exchange is a platform where customers choose their own odds. These chosen odds are them matched by another customer on the Betfair platform, and your bet is placed. The matching of your bet had previously been done by a bookmaker, now another customer (who you do not know) acts as the bookmaker. This matching of customers and odds enables you to get bigger prices than you do with a traditional bookmaker. In the above scenario, you can also act as the bookmaker, taking bets (lay) from other customers of the Betfair exchange. If you lay a bet you are predicting that something will not happen. You can back or lay bets on Betfair to your heart's content. Betfair Exchange Example You decide that Liverpool will beat Manchester City, the odds from the bookmakers are 2/1 (3.0 in decimal odds). On Betfair Liverpool are available to beat Manchester City at 9/4 (3.25 in decimal odds). So you naturally take the better Betfair odds. These odds are being offered by another Betfair customer who thinks Liverpool will not win. If Liverpool win the other customer pays you at 9/4 (3.25), (as a bookmaker would do). If Liverpool lose or draw the other customer wins your stake, (as a bookmaker would do). The Betfair Exchange brings opposing customers together, and allows them to back (support) and lay (be against) bets, without the need for a traditional bookmaker.

How to Lay a Bet on Betfair

You can only lay bets on the Betfair Exchange, not the sportsbook. Laying a bet means you are opposing a selection, you are taking a backers stake, as a traditional bookmaker would do, (just imagine you work in a bookmakers). To lay a bet is to back something not to happen. For example, to lay Manchester United is to back them NOT to win. If you were to lay them, you would win your bet if they either lost or drew their match. On the Betfair Exchange, the back prices are in blue and the lay prices are in pink. If you want to back a selection you click the blue button, if you want to lay a selection you click the pink button. When you lay a selection you are taking the backers stake and giving them the odds on offer, you will pay out at the odds on offer OR win the customers stake. If you lay a £10 customers bet at odds of 2.0 your liability will be £20.00, your payout will be £10.00. (The customers £10.00 +£10.00 from the 2.0 odds you laid at) On the Betfair Exchange, you can view how much your payout will be before you lay the bet by using the "What If" tab. Again just imagine you are working in a bookmakers and you are taking customers bets over the counter, you are the bookmaker. It's always important to remember when laying a bet, you can only win the other person's stake.

What is the difference between the BLUE and PINK boxes on the Exchange?

BLUE BOXES are back prices. When you are betting that the selection will win - Backing PINK BOXES are for when you are betting against the selection winning - Laying in other words.

How to Make money on Betfair

The Betfair Exchange allows you to choose the odds you want. If you can succeed in securing the odds you want from another customer, then you may well be getting more value than you do with a bookmaker. Betfair allows you to bet against a selection, this allows you to act as a bookmaker. You can back and lay the same selection on Betfair Exchange, securing a profit whether the horse or team wins or loses. You can dutch (back more than 1 selection) on Betfair. You can take advantage of horse racing multiples at the bigger Betfair Exchange odds. You can bet in play on Betfair taking advantage of fluctuating odds.

What are Betfair Points?

When you bet on the Betfair Exchange, you are rewarded with Betfair points. The more you bet on the Betfair Exchange, the more points you accumulate. Betfair Exchange charges Commission on winning bets. The more points you have, the less commission you pay.

What is Liability on Betfair?

The liability on Betfair is the amount you will have to pay out when laying a bet, the liability is shown in the top right-hand corner of your Betfair betting slip when placing a lay bet. It also shows next to the laid selection on the event page The liability is different to the payout, the payout includes the original backers stake.

Can I have a Betfair Account and a Paddy Power Account

The answer is Yes. You can have separate accounts with both Paddy Power and Betfair Paddy Power and Betfair merged to create paddy power betfair. That has morphed yet again into Flutter Entertainment but it does not affect your ability to have a registered account with both at this time.

Betfair Review: What is the Difference between Exchange and Sportsbook

The simplest analogy is to say that the Betfair Sportsbook is the equivalent of a traditional bookmaker, and the Betfair Exchange is similar to a couple of friends having a bet between themselves on the outcome of a race, a match, or whatever. Everyone is likely to be familiar with how a bookmaker operates, so I shall just endeavor to outline the concept of an Exchange. Betfair - the original concept. Prior to 1999, punters had the choice between bookmakers and the Tote as far as racing was concerned. Betting on football was limited to bookmakers, football pools, and fixed odds coupons. When formed in that year, Betfair brought a new dimension to punters; they could literally bet against each other instead of pitting their wits against a bookmaker. As millions of punters could not be expected to apply for bookmakers' licenses, Betfair acted as a middle man, reserving (ring-fencing) the liabilities from accounts funded by both parties. They returned winnings to one party after taking their cut (commission) for providing the radical new ‘service'.This meant that the bookmakers' over-round was replaced by a virtually 100% book, subject to the deduction of commission. In general, this led to higher odds being available; better for backers, but particularly bad for the new breed of layers, many of whom quickly found that it was not the get rich quick scheme they had envisaged. It was now a battle between two bettors (albeit a loose term in this context) with opposing views. The odds were in effect bartered until a point was reached that both parties were prepared to accept. Not being a bookmaker had disadvantages for Betfair. They included the following. #1. It could not offer fixed odds without a bookmaker's permit. #2. Bonuses, promotions, and free bets could not be awarded. They had no funds of their own in this sense with which to fund them, and could not impose the liability on another punter. #3. Multiple bets were not possible. In 2012 Betfair took the step to become a bookmaker. Betfair could now offer services associated with a traditional bookmaker as well as its established Exchange format. They expanded their offering substantially to include an online casino, poker and hundreds of slot games. It could also offer a punter the choice between Exchange odds (on the Exchange) and Fixed odds (on Sportsbook). All are available from the same login and don't need to be funded independently. Exchange & Sportsbook Difference | Summary The most fundamental difference is of course that Sportsbook is a bookmaker and you will be unable to place a lay bet through this part of the site. On Sportsbook, punters are guaranteed liquidity by Betfair (the bookmaker), so bets do not rely on being matched by a punter with an opposing view. If accepting odds already displayed on the exchange, you are matching an offer, so both bets are deemed to be matched. Odds will be different. With Betfair acting as a bookmaker in the Sportsbook scenario, there will be a built-in percentage in the market, similar to a traditional bookmaker. Unlike on the Exchange, the punter pays no commission on winning bets as this has been replaced by the over-round in the market. In Sportsbook, the odds are now set by Betfair, although they will move in line with market trends. From this, it follows that, as a punter, you can't offer your own odds on Sportsbook in the same way as you could on the Exchange. Bonuses, promotions, and free bets may now be offered on Sportsbook. Refunds and cash credits are the only options available on the Exchange. Multiples are available on some Sportsbook markets, but not on any Exchange market You Only Need 1 Account Registration to Use Both Yes, you require only one account with Betfair to use either the Exchange or Sportsbook. Desktop/PC/Laptop - All accessed in a single window Mobile App - There are separate apps for Betfair Sportsbook and Betfair Exchange

Best Online Bookmakers
Betfair

4.2 / 5 288 Ratings

Betfair Reviews and User Ratings

Betfair revolutionised online bookmakers with the largest betting exchange and unique fixed odds offerings.

About Betfair

Great odds on the sportsbook, while the exchange is perfect for traders and getting huge odds on outsiders. Betfair has everything with one registration.

What OLBG Likes

Ranked #1 For Footy Accumulators
Must have account for Arbitrage Betting

Steve Madgwick Editor-In-Chief

I've spent over 20 years inside the betting industry. I'll guide you to avoid the hype, ignore the noise, and steer clear of the common pitfalls that catch out everyday punters.

Betfair Key Features

Best Odds Guaranteed: 8:00AM
Live Stream: horse racing, football, tennis
Asian handicap
Bet Builder
Acca Insurance
Early pay out
Welcome / sign-up offer
Odds Boosts
In-play
Cash Out
Partial Cash Out
Free Bet Club (or similar)
Exchange betting
Spread betting
In-game statistics
Pre-match form/statistics
Request a bet (or similar)
Virtual sports
App

Betfair Customer Service

Phone
Web chat
Social media
Email

Betfair Markets

How many sports: 28

Steve Madgwick Editor-In-Chief

I've spent over 20 years inside the betting industry. I'll guide you to avoid the hype, ignore the noise, and steer clear of the common pitfalls that catch out everyday punters.

Full Betfair Bookmaker Review

Overall, Betfair is one of the best bookmakers available in the UK. As mentioned, they make our top 10 for 11 different categories – an absolutely huge amount that very few other bookmakers can compete with.

A huge part of this is down to the markets offered, the consistency of their odds and their dedication to covering sports properly. The obvious advantage to having a Betfair account is the ability to use their sportsbook and their exchange site, and switching between the two is incredibly easy. For regular bettors, having an exchange account is pretty essential and Betfair ensures a great way of doing that.

Betfair Review Summary

For bettors on racing, football, rugby and darts, Betfair is literally one of, if not the single best bookmaker that you can use. They’re one of the most recognisable bookies in the UK for good reason.

Advantages and Disadvantages

All explained in greater detail in this review, these pros and cons allow users to scan and understand where the strengths lie quickly.

Pros

No.1 bookmaker for darts
Ranks in OLBG’s Top 10s for 12 different categories
Best place for arbitrage betting

Cons

VIP programme pretty limited

Who are Betfair?

Having started out just doing exchange betting, Betfair launched its sportsbook in 2012, with both exchange and sportsbook running alongside one another. Because they have both an exchange and a sportsbook it really is a one-stop site, if you want to lay a horse, or place a football acca on the same platform then you need to sign up. Betfair regularly offer sign up bonuses for new customers on both their sportsbook and exchange. They also reward customers with freebies when a customer uses both the exchange and the sportsbook.In the 21st century, all bettors should have an exchange account, Betfair as the market leaders should be your first port of call.

Established in 2012
PPB Games Ltd
UKGC licence number - 39411

First Impression of Betfair

My First Impressions

At OLBG we collect data on every bookmaker’s service, compiling the best bookies in a variety of categories, so that we can determine which bookmaker is the best at what. Based on this data, Betfair makes our Top 10 in 10 different categories, making it one of the top bookies in the country.

- Luke Bradshaw Lee, - Your Sports Betting Sites 👍

Read our Betting Exchanges Review

Who has the best betting Exchange offers right now?

Live Betting

When it comes to live in-play betting Betfair ranks on our list of best bookies, offering great options when it comes to in-play action. With full statistics, line-ups, and standings offered on their in-play pages there are plenty of different things available to help the bettor with picking in-play bets.

Betfair comes in at no.6 on our list of best bookmakers for in-play betting and is an excellent part of the Betfair product.

Live Streaming

Betfair's full live streaming service is compatible with their app and on desktop, you'll be able to watch any live available sporting events. If Betfair upped the number and variety of sports that it offers live streaming on then it would start making its way onto our best bookmaker for live streaming list.

Betting Odds

You can see from our data, when it comes to betting on a number of different sport Betfair is among the best for plenty of them, including baseball, horse racing, football, basketball and tennis, among others.

Exchanges, in general, offer bigger odds than traditional bookies, as there is no bookmaker margin built into the prices. They also offer more markets and more market depth than anyone else, there should be an option that suits all bettors. You should also get your bet matched earlier in the day than on other exchanges.

Once you have an exchange account you can take positions within sports markets deciding that an event may happen (Back) or that an event may not happen (Lay). Thousands of customers are competing against each other, backing and laying daily, they are taking advantage of generous prices offered by opposing Betfair customers.

Also, remember that it is always worth checking alternative betting options, including best spread betting sites and betting exchange sites, depending on who you are as a bettor.

Betting App or Mobile Site

The Betfair mobile app is very good.When you open the Betfair app for Android or IOS or on your tablet you can quickly see there is a lot going on, the screen is awash with the latest free bets, promotions, favourites and a quick bet slip. Now we are normally keener on the "less is more" adage with betting apps, as sometimes apps try to fit a quart into a pint pot, but despite the myriad of different typefaces, images and links, the Betfair app home screen just worked, and it felt like a place you would enjoy.
You can see that Betfair have spent time and money developing their app. When we checked there had been regular upgrades, this is a sign that the Betfair developers are constantly looking for ways to enhance the Betfair app.

Compare to the best betting apps in the country.

One of the best things I used when reviewing Betfair's app (although it's also available on the mobile site and desktop versions) is their Build Ups feature; a nice twist on Bet Builders. You can see in the video below exactly how it works.

Build Ups feature

⚽ Football Betting

Betfair's high ranking for football betting as shown in the table above is important as the better prices allow for better winnings. With the vast majority of bets placed on football being accumulators even a small increase of odds over other bookies is massive.

Slightly different odds when it comes to bets in your acca's can make a massive difference in your overall winnings. To dive into things a bit deeper, head to our best bookmakers for football betting to see why Betfair makes our list.

Bet Builder

Only Unibet can best Betfair when it comes to bet builder odds. Betfair offers markets in all the usual places, including golf and tennis, and American major leagues such as the NFL and NBA. If using one of the best Exchange betting sites users can opt for a Same Game Multi or OOT (Odds On That), the latter being bets previously created on request.

Bonuses

As described fully in our 27 best acca insurance offers article, this is Betfairs version, called Acca Edge. This is unique to Betfair and is worth taking advantage of. You do have to accept slightly diminished prices in return for extra places, but the Acca Edge is available across a range of sports.

As you would expect from Betfair there are a range of promotions for existing Betfair customers, both via the Sportsbook and the Exchange. The Betfair My Rewards Programme gives you a choice of three rewards packages, you then decide which is best for you. There are pros and cons for each package, it's really dependent on how you use Betfair.

However, along with sister company Paddy Power the rewards are some of the best available from any bookmaker. As well as questions and answers, there is some basic step by step 'How-To's' as well, so you know what to expect when signing up.

Cash Out

Cashout is a very important betting feature for punters these days so it's crucial that bookies integrate this feature into their mobile betting apps. Betfair have done this well allowing their customers to instantly cash out their bets on any device they like.

🏇 Horse Racing

Betfair are also ranked highly when it comes to Horse Racing betting and they feature as one of our best bookmakers for horse racing betting. You get fantastic horse racing odds with Betfair, with the exchange perfect for traders, especially if you’re betting on outsiders. The sportsbook is still excellent if that’s your port of call.

Betfair Best Odds Guaranteed offer is available daily on all UK and Ireland horse racing bets, from 8.00 am. For example, if you get a tip for horse racing, take the 6/1 Early Price and your selection wins at 8/1, Betfair will pay you at 8/1. The Betfair BOG applies to single and multiple bets placed and has a maximum benefit set at £1,000.

🇺🇸 US Sports Betting

A full range of American Sports is available. At the time of writing, only the MLB season isn’t up and running, with the other major leagues in full swing. Beyond that, and maybe somewhat surprisingly given its lack of international racing coverage, there are lots of international markets for these sports, particularly for basketball.

🏈 American Football Betting

Line shoppers should absolutely head to Betfair when hunting around for the best value on NFL betting because they regularly have the longest odds for American football, that goes for college football and the CFL, as well as NFL games. It’s worth checking out our best NFL betting sites in more detail to see how Betfair compares.

🏀 Basketball Betting

Not only can you also create your own bet builders on basketball games, there are supporting statistics on screen to help inform your decision. Betfair is a solid option for basketball betting, overall. Keep tabs on the top basketball betting sites though, to see in more detail why they top our list.

⚾ Baseball Betting

Betfair’s selection of markets for each game is seriously impressive – you’d struggle to find a market that you can’t bet on and they should absolutely be a first port of call when it comes to baseball betting. Their stats offering is right up there, and while they don’t run any baseball promotions, their in-play offering is great and you can get cash out on a number of different baseball markets.

🏒 Ice Hockey Betting

Like the basketball offering, as well as the biggest league in the sport, the NHL, there are a huge number of other leagues around the globe. You can bet on games in Switzerland, Sweden, England, the Czech Republic and more. There are good outright future markets for NHL betting, and the markets within games are loaded.

🐕 Greyhound Betting

Whether you’re making bets, or just want to check the form and stats, Betfair’s greyhound service is really good. There are odds on over 150 different greyhound races per day across the whole country. Betfair, as it does with most sports, lists handy tips, bet explainers and types of greyhound races on the greyhound page so that you have extra info at your fingertips when betting. You can see how Betfair compares among the best greyhound betting sites in the chart below.

🎯 Darts Betting

Matthew Edgar

Your Darts Betting Guide 👍

Betfair essentially offers all the things that you want, and often expect, when betting on sports, that some bookmakers reduce for smaller sports and events, which is why we rank it no.2 on our best darts betting sites list. Great live streaming, cash out and in-play options, fantastic odds and, to top it off, darts-specific promotions. You can often get odds boosts across lots of different darts markets, including the World Championships, Premier League and The Masters, so make sure you have a look when hunting around.

Compare to the best darts betting sites in the UK.

Best bookies for darts betting

Score by selected category (hover over chart for details).

Tap or mouseover chart elements for more info. Pinch to zoom.

Snooker Betting

Steve Madgwick

Editor-In-Chief

I’m always on the lookout for great snooker betting sites. Select any random snooker match on Betfair and you should find around 15 markets available to bet on at your fingertips per match; that’s something that’s difficult to find elsewhere. Betfair also offers a good option when it comes to in-play betting on particular snooker events, so bear them in mind if you’re a big fan of in-play betting in general.

Compare to the best snooker betting sites in the UK.

🏉 Rugby Betting (Union & League)

After factoring in all our rankings, Betfair comes out on top. Whether using the sportsbook or the exchange, Betfair is the best rugby betting site in terms of event coverage, everything from the Rugby World Cup and the Six Nations, down to domestic club games, and markets offered. There is a high premium to pay on the exchange, but given the sheer range in markets, the competitive odds and the consistency in their promotions, the overall package more than makes up for it. It’s also worth noting that the stats provided alongside the live streaming are excellent.

Check out why it’s no.1 in our top rugby betting sites in more detail in the chart below.

Best bookies for rugby betting

Score by selected category (hover over chart for details).

Tap or mouseover chart elements for more info. Pinch to zoom.

🏏 Cricket Betting

James Banting

Content Editor

With all things considered, Betfair’s offering is pretty good. It covers all the major tournaments and regularly has some of the best odds and the best variety of markets. You can get odds boosts on specific bets, and supporting stats are displayed alongside. The only downside is that it doesn’t offer live streaming, but given the rest of the setup, it’s a very solid aspect of its product.

We list the 10 best cricket betting sites here.

🎾 Tennis Betting

By James Banting - If you’re already signed up to Betfair, wagering on other sports, then the transition to betting on tennis is a simple one. And if you’re new to Betfair, you’ll find the site and app easy to navigate through. The odds are consistently excellent, you’ve always got the choice to switch to their exchange, and you can stream live matches, with in-play statistics alongside. They are the fifth best tennis betting site according to our OLBG data.

🏌️ Golf Betting

By James Banting - Golf odds tend to vary from bookmaker to bookmaker and finding the best odds for your golf bet won't necessarily be from the same bookmaker each time you place a bet.

Golf odds will generally be pretty similar across all bookmakers and the small fluctuations will be down to the discretion of the bookmakers' traders. The one exception to this tends to be the Betfair Exchange which pits punters against punters.

🏎️ Motorsports Betting

Andy Powell

Content Editor

Like many sportsbooks, Betfair split their markets into Formula1, and then other motorsport grouped together (NASCAR, Superbikes etc). It’s worth remembering, however, and not all sportsbooks do, but they cover speedway markets also. The website is so clear, easy to move through, and all markets are easy to find. If they could thrown in the same boosts here that they do to other sports they’d rocket up our list, but even without those, it’s still brilliant.

Compare to the best motorsport betting sites.

🥊 Boxing Betting

Frank Monkhouse

- Your Boxing Betting Guide 👍

As with betting on any sport, Betfair’s app allows users the choice between their sportsbook and their exchange, and it’s no different for boxing betting. If you need a little help in where to place your penny, Betfair’s pre-fight previews will also help guide. Because of these, across the UK’s best boxing betting sites, Betfair is a solid option that suits beginners and more experienced bettors and ranks third in our best boxing betting sites.

Compare to the best boxing betting sites.

Other Sports Betting

Whilst these sports might sound very niche, there is a massive market for fans, and millions of them in the UK, so good coverage of niche sports and events is key to be reviewed on OLBG.

Other Sports at Betfair 🌍🏀🏐🚴🎮

Betfair offers diverse betting options: handball 🏆, volleyball 🏐, cycling 🚴, Aussie rules 🏉, and esports 🎮. Explore global matches, detailed stats, and infinite markets.

Betfair offers extensive betting options for Handball, volleyball, cycling, AFL betting, and esports. Handball includes global competitions; volleyball,covers European Championships and various tournaments; cycling features future tours and current races; AFL betting has comprehensive stats and esports offers all major games like League of Legends and CS:GO.

🗳️ Political Betting

Nigel Skinner

Expert Guide

Offering markets across their sportsbook and their exchange Betfair’s political output is impressive. Existing customers can expect exactly what they’re used to from other sports, while newcomers will find the section easy to navigate. As well as the big markets that you’d expect to find, Betfair also offers specials, such as wagering on the reunification of North and South Korea. They rank no.4 in our best political betting sites.

Compare to the best political betting sites.

🎭 Entertainment and Specials

Jake Ashton

- Your Betting Odds Guide 👍

Ranked no.3 in the country in best entertainment betting sites. Jump onto Betfair’s “Special Bets” section and you can get action on anything from Love Island winners, to who will pick up gongs at the next Oscars. From odds on who will perform at the next Super Bowl halftime show, to an entire section on WWE markets. It caters to a wide range of users, all with the same slick and reliable interface that we’ve come to expect across its sports markets.

Compare to the best entertainment betting sites.

Casino

Betfair has a fantastic casino with all players from small to large stakers given the best experience possible on the platform. A huge range of slots and interactive promotions are on Betfair Casino to keep the most demanding of players happy and consistently able to use the services available. You can see further information in our Betfair Casino review which takes a look at each individual section on there.

Check our Casino Sites page for dedicated new online casinos and slot sites. You can also check out OLBG’s latest addition; our Best Bingo Sites. All of which are, obviously, sites fully licensed by the UK Gambling Commission.

Betfair Account Opening Process

If you have decided to open and create a Betfair new account this Betfair sign up guide will answer all your questions.

If you are already fully informed, and ready to open a Betfair new account just follow the simple bullet points below.

Click the Betfair sign up banner on this page.
Click the bet now tab, this will take you to the registration page.
Complete all the requested information, including any Betfair Promo code/Referral code (if applicable).
Tick that you agree to the terms and conditions.

That is it.

Navigation and user experience [desktop v mobile]

The Betfair site and app both have a similar layout with the black and yellow colours staying consistent throughout the platform. Betfair's design is well-structured and the design overall is efficient despite its interface absolutely crammed full of info. I found myself using the app over the desktop more and more, which is no sleight on the desktop version, but the app definitely feels more intuitive. Our user reviews point towards the reliability of the site being impressive plus the app being good due to the fast sign in process on there.

Placing a bet

This section should only really highlight if there are issues, as the process is almost identical on every site. Within a few minutes of signing up to Betfair I placed a couple of bets on different sports, one of which took advantage of the welcome offer, and I used their bet builder feature, which was very indeed. Placing a bet on Betfair is straightforward with the betslip instantly appearing on your screen when you click a selection.

Managing your account

As mentioned above, the design really makes this tick. On the desktop version, it’s stuff left and right of screen (menu and search to the left, account and bets to the right). On the app, it’s at the bottom, with search, account and bets at the top, with a main nav bar at the bottom that can get you to different sports, in-play options and casino (plus return to the home page).

Responsible Gambling Features

You can set your deposit limit while you’re signing up; long before you’ve got close to actually making a bet.

There is also a Settings tab at the bottom of the page, no matter what page you’re on, that allows you to make changes to limits, as well as odds formats, or odds change preferences/notifications.

There are the following measures within its functionality:

Deposit Limit
Loss Limit
Session Limit
Wagering Limits
Reality Check
Time-Out
Self-Exclusion
Support Groups & Organisations
Advice on Keeping in Control
Parental Controls
Self-Assessment

All are explained in further detail on their safer gambling page. As well as this, on the same page they list links to the likes of the National Gambling Helpline, Be Gamble Aware and the National Gambling Treatment Service.

Responsible Gambling

There is a full suite of responsible gambling tools for your protection and may request further identification after certain depositing levels are exceeded or stakes are increased quickly.

Bookie Review Expert Contributing Team

OLBG Expert Review Team

This review was conducted by our expert team. Our dedicated review process guide provides a full description of the undertaking.

How OLBG reviews betting sites

Opinion, research and data collection for this review by

James Banting (Horse Racing, Golf and Tennis)
Nigel Skinner (Football and Politics),
Matt Edgar (Darts)
Frank Monkhouse (Boxing)
Andrew Powell (Horse Racing, Ice Hockey and Motor Sports)
Jake Ashton (Entertainment and Specials)

🛂 Fact Checked - Sam Darkens - Commercial Manager

✍️ Written by - Luke Bradshaw Lee - Commercial Content Manager

✏️📚 - Steve Madgwick - Editor-In-Chief

Betfair Mobile Offering
	Rated: 4.70 / 5
	Rated: 4.30 / 5
	Rated: 2.20 / 5

Please note: Betfair, Paddy Power and Skybet do not partner with us. As a result we do not have sufficient up-to-date information to provide accurate product comparisons with those specific sportsbooks.

Latest Betfair Free Bet Offer - Full Details

This page focuses on what our expert team and users have found when using this specific online bookmaker and app (if there is one), and is a review of the betting product as a whole. We recommend that when signing up for any betting site, you don’t base your decision purely on their current free bets or welcome offers, so read on for a full user review to help you decide.
We do show the welcome offer, but for a full rundown on the offer and its details, as well as other promotions that they run across all sports, you should head to the Betfair Free Bets page.

Best by far for value

OLBG user Chad Barton

Best Exchange for volume

OLBG user JackMRich

Best site out there

OLBG user steve135

Banking Options

The deposit process here is simple, accepting a variety of different payment methods, and that goes for withdrawals, too. Customers can choose between Visa, PayPal and Paysafe Cards, as well as phone payments.

Min	Processing Time	Fee
£5	Instant	Free
£5	Instant
£12	Instant
£10	Instant
£5	Instant
£5	Instant
£10	2-5 Days
£0

Min	Processing Time	Fee
£0	12 Hours	Free
£0	12 hours	Free
£0	12 Hours	Free
£0	2 Days	Free
£0	2 Working Days	Free
£0	2 Working Days	Free
£0	Next Working Day	Possibly
£0	2 Working Days	Free

Betfair Info & User Reviews

Check What Others Say About Betfair and Write Your Own Review

4.2 /5

Ratings: 288
Reviews: 133

inatimate

by inatimate

I started with an account on bet365, and to be honest they impressed me, all the markets they had, all the available opportunities, I was hooked, and then I started winning and my account got restricted. OLBG members were talking about Betfair so I decided to give it a go, and I was even more impressed with what I found. Yes, I admit their range is more limited than Bet365, they have fewer in play opportunities and cover less matches, but overall, if betting is your thing, and not predicting who will take the next but one corner or whether the 3rd ball of an over will be a dot ball, then Betfair is definitely the place to be. The odds tend to be better, there's the opportunity to back against things happening even 0-33 at the grounds of the big 4, or scorecasts if you like really low risk stakes, and you won't be getting restricted if you win a bit. They even have frequent competitions. Every match day they have a Mega Minute which I've won twice, they do similar things for Cricket & Basketball and they even throw out the occasional Prize Mountain scheme I won an England cricket top : . Their arcade is eve expanding, and their poker engine is vast too, they even have the chance to lay at Roulette, as well as other variations of the game. The only thing they are missing is the Virtual Leagues than Bwin and others have, but apart from that it's the must use site for betting!

deco121

by deco121

I was an old school punter until a few years ago but I finally decided to open up a Betfair account to have a look and it was by far the best move I ever made. Not only were the profits from regular backing far better but the option to trade pre-event or in-play was available to me aswell as the whole new world of laying which is now responsible for the majority of my income even though I had never heard of laying a few years back. Bottom line - whether you are a serious, casual or even a couple of times a year punter you need to get yourself a Betfair account. They are the best by a country mile in my opinion and until you open one up you are constantly losing potential profits.

__DELETED__

by __DELETED__

Betfair offers a wide selection of sports, and has a sleek user interface to keep the user engaged. They offer attractive welcome offers to get started with a small rollover required to make the withdrawal. Deposit and withdrawal options are plenty. Though would be happy if they introduce crypto currency as they seem behind the trend. Odds are not the best, but their same game multi, occasional free bet promo and other huge offerings are great value. Overall I rank them as one of the top bookies in the business at 4.77 out of 5 Gamble responsibly

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FAQ

Betfair Frequently Asked Questions

The Betfair exchange is a platform where customers choose their own odds.

These chosen odds are them matched by another customer on the Betfair platform, and your bet is placed.

The matching of your bet had previously been done by a bookmaker, now another customer (who you do not know) acts as the bookmaker.

This matching of customers and odds enables you to get bigger prices than you do with a traditional bookmaker.

In the above scenario, you can also act as the bookmaker, taking bets (lay) from other customers of the Betfair exchange.

If you lay a bet you are predicting that something will not happen.

You can back or lay bets on Betfair to your heart's content.

Betfair Exchange Example
- You decide that Liverpool will beat Manchester City, the odds from the bookmakers are 2/1 (3.0 in decimal odds).
- On Betfair Liverpool are available to beat Manchester City at 9/4 (3.25 in decimal odds).
- So you naturally take the better Betfair odds. These odds are being offered by another Betfair customer who thinks Liverpool will not win.
- If Liverpool win the other customer pays you at 9/4 (3.25), (as a bookmaker would do).
- If Liverpool lose or draw the other customer wins your stake, (as a bookmaker would do).
The Betfair Exchange brings opposing customers together, and allows them to back (support) and lay (be against) bets, without the need for a traditional bookmaker.
You can only lay bets on the Betfair Exchange, not the sportsbook. Laying a bet means you are opposing a selection, you are taking a backers stake, as a traditional bookmaker would do, (just imagine you work in a bookmakers).

To lay a bet is to back something not to happen. For example, to lay Manchester United is to back them NOT to win. If you were to lay them, you would win your bet if they either lost or drew their match.

On the Betfair Exchange, the back prices are in blue and the lay prices are in pink.

If you want to back a selection you click the blue button, if you want to lay a selection you click the pink button.

When you lay a selection you are taking the backers stake and giving them the odds on offer, you will pay out at the odds on offer OR win the customers stake.

If you lay a £10 customers bet at odds of 2.0 your liability will be £20.00, your payout will be £10.00. (The customers £10.00 +£10.00 from the 2.0 odds you laid at)

On the Betfair Exchange, you can view how much your payout will be before you lay the bet by using the "What If" tab.

Again just imagine you are working in a bookmakers and you are taking customers bets over the counter, you are the bookmaker.

It's always important to remember when laying a bet, you can only win the other person's stake.
BLUE BOXES are back prices. When you are betting that the selection will win - Backing

PINK BOXES are for when you are betting against the selection winning - Laying in other words.
The Betfair Exchange allows you to choose the odds you want.

If you can succeed in securing the odds you want from another customer, then you may well be getting more value than you do with a bookmaker.

Betfair allows you to bet against a selection, this allows you to act as a bookmaker.

You can back and lay the same selection on Betfair Exchange, securing a profit whether the horse or team wins or loses.

You can dutch (back more than 1 selection) on Betfair.

You can take advantage of horse racing multiples at the bigger Betfair Exchange odds.

You can bet in play on Betfair taking advantage of fluctuating odds.

When you bet on the Betfair Exchange, you are rewarded with Betfair points.

The more you bet on the Betfair Exchange, the more points you accumulate.

Betfair Exchange charges Commission on winning bets.

The more points you have, the less commission you pay.
The liability on Betfair is the amount you will have to pay out when laying a bet, the liability is shown in the top right-hand corner of your Betfair betting slip when placing a lay bet.

It also shows next to the laid selection on the event page

The liability is different to the payout, the payout includes the original backers stake.
The answer is Yes. You can have separate accounts with both Paddy Power and Betfair

Paddy Power and Betfair merged to create paddy power betfair. That has morphed yet again into Flutter Entertainment but it does not affect your ability to have a registered account with both at this time.
The simplest analogy is to say that the Betfair Sportsbook is the equivalent of a traditional bookmaker, and the Betfair Exchange is similar to a couple of friends having a bet between themselves on the outcome of a race, a match, or whatever.

Everyone is likely to be familiar with how a bookmaker operates, so I shall just endeavor to outline the concept of an Exchange.

Betfair - the original concept.

Prior to 1999, punters had the choice between bookmakers and the Tote as far as racing was concerned. Betting on football was limited to bookmakers, football pools, and fixed odds coupons.

When formed in that year, Betfair brought a new dimension to punters; they could literally bet against each other instead of pitting their wits against a bookmaker. As millions of punters could not be expected to apply for bookmakers' licenses, Betfair acted as a middle man, reserving (ring-fencing) the liabilities from accounts funded by both parties.

They returned winnings to one party after taking their cut (commission) for providing the radical new ‘service'.This meant that the bookmakers' over-round was replaced by a virtually 100% book, subject to the deduction of commission.

In general, this led to higher odds being available; better for backers, but particularly bad for the new breed of layers, many of whom quickly found that it was not the get rich quick scheme they had envisaged. It was now a battle between two bettors (albeit a loose term in this context) with opposing views.

The odds were in effect bartered until a point was reached that both parties were prepared to accept.

Not being a bookmaker had disadvantages for Betfair.

They included the following.

#1. It could not offer fixed odds without a bookmaker's permit.

#2. Bonuses, promotions, and free bets could not be awarded. They had no funds of their own in this sense with which to fund them, and could not impose the liability on another punter.

#3. Multiple bets were not possible.

In 2012 Betfair took the step to become a bookmaker.

Betfair could now offer services associated with a traditional bookmaker as well as its established Exchange format.

They expanded their offering substantially to include an online casino, poker and hundreds of slot games.

It could also offer a punter the choice between Exchange odds (on the Exchange) and Fixed odds (on Sportsbook).

All are available from the same login and don't need to be funded independently.

Exchange & Sportsbook Difference | Summary

The most fundamental difference is of course that Sportsbook is a bookmaker and you will be unable to place a lay bet through this part of the site.

On Sportsbook, punters are guaranteed liquidity by Betfair (the bookmaker), so bets do not rely on being matched by a punter with an opposing view. If accepting odds already displayed on the exchange, you are matching an offer, so both bets are deemed to be matched.

Odds will be different. With Betfair acting as a bookmaker in the Sportsbook scenario, there will be a built-in percentage in the market, similar to a traditional bookmaker. Unlike on the Exchange, the punter pays no commission on winning bets as this has been replaced by the over-round in the market.

In Sportsbook, the odds are now set by Betfair, although they will move in line with market trends. From this, it follows that, as a punter, you can't offer your own odds on Sportsbook in the same way as you could on the Exchange.

Bonuses, promotions, and free bets may now be offered on Sportsbook. Refunds and cash credits are the only options available on the Exchange.

Multiples are available on some Sportsbook markets, but not on any Exchange market

You Only Need 1 Account Registration to Use Both

Yes, you require only one account with Betfair to use either the Exchange or Sportsbook.
- Desktop/PC/Laptop - All accessed in a single window
- Mobile App - There are separate apps for Betfair Sportsbook and Betfair Exchange