Betfair Betting Exchange - A review of betfair.com
Betfair - 20% Better Odds
At Betfair, you get the best odds as you are betting against other punters, and not against a bookie. On average, odds are around 20% better!
You can back or lay on almost any sporting event. In Betfair’s own words, they’re revolutionising online betting.
Click here to bet online with Betfair
Description:All bets on Betfair have been placed there by users who either want to bet in the normal way (back), or offer odds to other punters (lay). Bets are matched between people with opposing views.Over 49,000 bets have been placed with Betfair within the last seven days.
First glances at the site may be confusing. The site is filled with text, and only for the medium-sized icons would users be able to tell the difference between the sports. The only thing that stands out in the site is the large ‘join now’ banner. Existing users may not notice the login boxes, tucked neatly away at the top of the screen.
Initial Bonus:
A free betTerms:
Open an account - Depending on the value of your initial deposit (up to a max £20) you receive a free bet to that value. You will be given a promotion number - make sure to quote this!Returning Customers Bonus:
Reduction in commission rates from 5% to 2%
Terms:
The more you place bets and use Betfair, the lower the commission rate you pay on your winnings.
Sports Offered
- American Football
- Australian Rules
- Baseball
- Basketball
- Boxing
- Cricket
- Darts
- Gaelic Football
- Golf
- Greyhound Racing
- Handball
- Horse Racing
- Ice Hockey
- Motor Sport
- Poker
- Pool
- Rugby League
- Rugby Union
- Soccer
- Tennis
- Winter Sports
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Deposit Methods
- Credit Cards - Visa and MasterCard - 1.5% Fee
- Debit Cards - Visa Delta, Switch, Solo, Electron and Lasercard
- Bank Transfers
- Cheque
Withdrawal & Pay-Out Methods:
You may withdraw all or part of your money from your account at any time as long as it is not already committed to bets.
- Debit/ Credit Card - You can also withdraw money to any of your registered payment cards, but only to a card which has made a successful deposit with Betfair. In addition, your total withdrawals on each registered card must be equal to, or greater than, your total deposits before you can withdraw your ‘additional winnings’. There is no fee for withdrawals back to a payment card.
- MasterCard - If you have deposited money via your MasterCard the card must first be validated (automatic after months of membership) or by sending proof of ownership, before any monies can be withdrawn.
- Cheque - You may withdraw by cheque and there is normally no charge for doing this. However, please note that clearing times can vary considerably depending on the bank you use.
- Bank Transfer - You may withdraw by bank transfer using Betfair’s network of accounts. Withdrawals by Electronic Bank Transfer normally reach your bank within 2 to 3 working days but the exact clearing time can vary depending on your bank/country. To reflect Betfair’s own charges, a withdrawal fee may be charged. Any fee will be shown when you request the withdrawal.
Minimum & Maximum Bets/Pay-Outs:
- Minimum Bet: $4 or £2
- Minimum Deposit: N/A
- Maximum Payout: N/A
- Maximum Bet: The balance of your account!
Types of Wagers
- Odds betting
- Asian Handicap betting
- Single line variant odds betting
- Line betting
- Range betting
- In-Play betting
Customer Service Telephone: 02088348060
Email: info@Betfair.com
Security Betfair possess a BT Trust Wise Secure Server Certificate. They have a bookmakers permit; use DataCash and the Royal Bank of Scotland as secure Payment Partners.
Any Other Information Queens’ award for Enterprise , in the innovation category for 2003Offers customers chance to bet on ’special’ non-sports category
Customers can refer a friend to Betfair and earn money
Year Started 1999
Languages English, Dansk, Deutsch, Suomi, Italiano, Norsk, Svenska.
Site Speed Fast
Pros & Cons
Pros:
- Can bet that an outcome will happen (back) or that it won’t (Lay)
- You can choose the odds you want to play at
- You can bet whilst the game is in play
- Bets are matched against people with opposing views
- Once a member you can log your preferences so that only what interests you appears on the screen.
- Provides a Betfair toolbar so customers can quickly access the websites features.
Cons:
- Prices are in $US Dollars
- Some help menu links are broken
- Commission rates start at 5%
