Betfair review overview
Betfair are a dual-gambling platform that focuses on sports betting, peer-to-peer betting, casino games, poker rooms and more. Launched in 1999, the platform grew to fame when it became the first online sports betting website to offer its peer-to-peer betting concept. In a nutshell, this not only allowed players to set their own odds, but they also had the option of betting against a particular market, essentially taking up the role of the bookmaker.
Whilst Betfair do not have any UK high street betting shops per-say, the operator merged with well-known bookmaker Paddy Power in 2016. If you like the sounds of what Betfair offers, the entire platform is fully accessible via a mobile device. We found that the Betfair mobile gaming suite offered an excellent gaming experience, across both its sportsbook and casino segments.
So now that we’ve covered the fundamentals, in the next section we are going to explore how the sportsbook works.
Betting markets and odds
In terms of the Betfair sportsbook, this comes in two key formats. Firstly, the Betfair Exchange is an innovative peer-to-peer betting platform that allows players to bet against one another. In other words, players can choose to back a particular market, or become the bookie by laying it. Due to the peer-to-peer nature of the platform, our Betfair review found that the odds on offer via the Exchange department are often industry leading.
The second segment to the Betfair sportsbook is based on a more traditional sports betting facility. If you choose to use it, you’ll receive odds in the same way that you would with a standard sportsbook. Although not as competitive as the Exchange, our Betfair review found that the odds on offers in the sportsbook department are still pretty good.
Moreover, the sportsbook section is a better option to take when you are looking to bet on less-popular markets. Whilst the exchange covers virtually every sporting event available, the markets are usually based on traditional bets. For example, if gambling on the football, you won’t get as much liquidity on the overs/under, corners or yellow card markets.
On the contrary, our Betfair review found that the Betfair sportsbook has a huge selection of alternative betting markets, with the operator also comfortable taking larger bets.
So now that we’ve covered the two sports betting sections, in the next part of our Betfair review we are going to explore the live betting facility.
In-play betting and extra features
Much like in the case of the pre-match market, Betfair offers live betting across both of its individual platforms. Over in the exchange, our Betfair review found that the amount of markets on offer followed that of its pre-match offering. Whilst larger markets offered better odds than the sports betting section, less-popular markets sometimes lacked liquidity.
However, we do really like the fact that you can bet in-play on horse races. Just remember, the odds are usually set by professional traders who are positioned at the race track itself, so never rely on a live video feed. The key reason for this is that the video feed is quite a few seconds behind the actual race, meaning that you will be at a significant disadvantage.
On top of the live betting facilities, the Betfair sports betting site offers a really handy ‘Cash Out’ feature. This allows you to cash out your betting before the game finishes. In comparison to other sportsbooks in the industry, our Betfair review found that the cash out option was readily available across a huge number of markets, without too much disruption.
So now that we’ve covered both the pre-match and in-play sections, in the next section of our Betfair review we are going to explore what promotions are available.
Deals and promotions at Betfair
As with most online sports betting operators, Betfair offers new players a welcome package. If you are yet to open an account, Betfair offer up to £100 in free bets. You need to place 5 x bets of £10 or more and in return, you’ll get a £20 free bet. You can repeat this promotion up to 5 times, which effectively turns the offer in to a ‘Bet £500, Get £100’ promotion.
Our Betfair review found that the minimum odds of each qualifying bet needs to be at least 1/2. There are no wagering requires once your free bet is credited, although the stake is not returned in your winnings.
On top of the main welcome offer, our Betfair review found that the operator has a huge selection of ongoing promotions for existing players. This includes a range of cashback on losses, bet boosts and sporadic matched bonuses. Over in the horse racing department, Betfair are well known for their ongoing bet refunds for horses that finish second, as well as Best Odds Guaranteed on all UK and Irish races.
So now that you know what offers are available, in the next part of our Betfair review we are going to see what payment methods the operator accepts.
Payments and withdrawals – what did our Betfair review find?
Depositing funds at Betfair is a very straightforward process. Our Betfair review found that the vast majority of payment methods are supported, which includes debit/credit cards and e-wallets such as PayPal, Skrill and Neteller. Less traditional methods include Western Union and Entropay.
Our Betfair review found that when it comes to withdrawing your winnings, e-wallets are the best option. This is because withdrawals are usually processed within a few hours. Debit and credit card withdrawals usually take a couple of days for processing, which takes longer at weekends. Whilst the team at Betfair process your withdrawal, you will have the option to reverse it from within your account.
Betfair review summary
In summary, there isn’t much that we didn’t like about Betfair. The sportsbook is highly extensive, with markets available across all sporting events. Our Betfair review also found that the odds on offer via the Exchange for major sporting events, as well as UK and Irish racing, are often the best in the industry.
We also really liked the strong emphasis that the operator puts on promotions. Whilst the welcome package offers great value, Betfair also offer promotions to existing players on a daily basis. All in, we think that Betfair are an excellent choice for online sports betting fans!
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