Betfair is a British betting exchange that proudly holds the status of the largest in the world. Betfair is famous not only as a successful alternative to bookmakers. You can also play poker or casino with Betfair.
Advantages and disadvantages
About Betfair Betting Exchange
Betfair has been operating since 2000. It was founded by British businessmen Edward Ray and Andrew Black. The idea to turn the stock exchange, in its traditional sense, into a sports betting project existed long before the appearance of Betfair. However, Ray and Black were the first to successfully implement such an idea. As a result, shortly after the opening, Betfair and its "fathers" managed to collect more than 60 British and world awards such as "Company of the Year" and "Entrepreneurs of the Year".
Ray and Black's idea was innovative because, unlike traditional bookmakers, Betfair offers to bet against other players. Typically, firms in this segment make money by betting on the expected outcome of the game against the bookmaker. If the player wins, he takes the bet, if the player loses, then the office takes the bet.
Betfair, on the other hand, acts as an intermediary that brings together bettors who want to bet on opposite outcomes. In this case, the betting exchange earns on a percentage of the winnings of the participant who won the dispute. In Russia, this commission is 6.5%. With this approach, the company is interested in the winnings of the participants, since it receives its profit from the winning bets.
Moreover, Betfair allows you to set your own betting odds, which allows you to earn more. The concept of the company is based on honesty towards users, as evidenced by the name itself: Betfair - a fair bet.
All this has allowed Betfair to become the largest player in the respective market. About 15 million bets are made on the exchange daily.
The stock exchange has tens of thousands of employees who are located in offices around the globe. More than one million bettors use Betfair services. Having realized independently, Betfair has become a sponsor for many sports teams and business projects.Betfair registration
Legal basis of activity
In addition to a long existence in the field of gambling, the Betfair betting exchange inspires confidence among users also because the company has 8 state licenses for gambling business, including:
- Licensed by the Malta Lotteries and Gaming Commission;
- Licenses of the Gambling Commissions of such countries as Great Britain, Denmark, Tasmania, Gibraltar;
- License of the State Gambling Commission of Bulgaria;
- License of the Italian Customs Service;
- License of the General Directorate of Regulation of Gambling in Spain;
- Licensed by the Irish Revenue and Customs Commission.
Official site Betfair.com
The developers of the Betfair website should be given their due. Despite the fact that the resource consists of many links, banners and buttons, it is built very competently. Every minute the site processes thousands of sports events, but this does not affect its durability and speed.
All bets are structured divided into categories and subcategories: exchange, bookmaker, casino, slots and much more. Of course, at first you will have to “hang” on the site in order to fully get used to its organization. Important: The Betfair portal supports more than 20 world languages.
Current promotions, bonuses and freebets
Betfair has a fairly extensive bonus program. It should be noted right away that bonuses for betting on sports events and casinos are different. A new player who registers on Betfair immediately receives a starting bonus of £20 from the bookmaker. However, you need to use this money within seven days from the date of receipt of the bonus on the game account.
Betfair has an ongoing Refer a Friend promotion that gives bettors £50. The main freebet of the exchange is also 50 pounds. This is how much money from Betfair you can bet on without risking your own funds.
Mobile application for Android
The Betfair website has a mobile version that can be downloaded with separate applications on a smartphone. Android users need to go to the 'Mobile' section of the Betfair portal home page. Next, the site offers to download the file, to which you need to agree. After the download, the application can be installed on a smartphone. Important note: The Betfair app runs on Android version 5.0 and up.Download android
Mobile application for iOS
Oddly enough, users of Apple products need to follow a similar algorithm of actions, or find the Betfair application in the App Store.Download iOS
For players who are fond of mobile betting, but they are not able to download the Betfair application, there is a mobile version of the exchange website. It is automatically downloaded when you access the Betfair Portal via your smartphone. The mobile version retains all the functionality of the computer version.
The odds on Betfair are above the market average as the company does not take margin. Therefore, the size of the coefficients depends solely on the bettors who set them.
Odds for sporting events are also above the market average. In general, the entire sports line is focused on betters from Western Europe. This is why Betfair often offers the best football and horse racing odds.
The registration process at Betfair is no different from registration at traditional bookmakers. Before starting to bet, the player needs to fill out the registration form, go through verification and replenish his personal account. The "Registration" section is located on the exchange website in the upper right corner.Betfair registration
First you need to decide which sport to bet on. Naturally, when choosing, you need to focus on your own awareness. Football is represented to the greatest extent on Betfair, that is, it is in relation to football matches that most of the betting is made. But this is due to the popularity of this competition, and not the priorities of the company. In total, more than 30 sports are represented:
- horse racing;
- Cricket and others
Next, you need to make a bet "for" or "against" a particular outcome of the match. In this case, you can bet based on already established coefficients, or you can set your own. If the bet wins, the money is credited to the user's account and withdrawn, as a rule, within 5 days.
But with really big winnings, Betfair may require confirmation of registration, additional verification of the user's account, which will slow down the withdrawal of money.
What other than sports betting?
In 2013, a traditional online bookmaker appeared on Betfair. You can also play online casinos, slots, bingo and other table games. You can play table games even without betting, that is, for interest, and not for money.
Types of bets
Betfair offers its players seven types of stats. Namely:
- Outcome bet - prediction of the outcome of an event;
- The Asian Handicap bet is a very popular type of betting in Asia. A handicap is the status of a favorite before the start of a sporting event. If the better puts on a team with a handicap and that team wins, the bet is played;
- Coupons . On them, you can make several bets at once on the outcome of one sporting event;
- Range bet - the number of effective actions for a certain segment of the event;
- A bet in the course of the game is a prediction of the outcome of an event that has already started;
- Linear rate ;
- Variable line bet .
Let's go over the Betfair margin again. Traditional bookmakers take a percentage of the player's winnings. Betfair does not do this, however it does have a 6.5% tax on winning wagers
The Betfair line is represented by a wide range of sports events: from football, hockey and basketball familiar to the Russian better to cricket, golf and darts. There are also "special" bets. For example, politics.
Before the start of any event, the British stock exchange, like all traditional bookmakers, offers to place a pre-match bet. The player can predict, for example, who will win the Real Madrid-Barcelona football match or who will be stronger in the classic Nadal-Federer tennis battle.
Live betting is a slightly different story. Here, the better is invited to predict the outcome of an event that has already started. Prematch and Live betting odds are different. Let's say the English "Chelsea" was the favorite in the game with "Brighton". The odds for the victory of the "blue" before the meeting was 1.8. On the debut of the first half, the Chelsea players scored a goal, significantly increasing their chances of success. As a result, the live betting odds for the Blues to win will decrease.
Sports betting at Betfair
As already mentioned, Betfair has a considerable line of sports betting. Consider how to bet on the most popular of them.
The "Football" tab is always open in the "Important sporting events" section on the main page of the site. Also, football is located in the black line at the top of the portal.
For example, at the time of writing this material, Urawa and Shonan were finishing their games in the Japanese J-League Cup.
Betfair offered its players to make a Live bet, predicting:
- who will win the match;
- correct score;
- who will score the first goal;
- who will score and who will win;
- individual total.
Prematch betting always offers a much larger number of events in a match that you can bet on. It is possible to make a bet by clicking on the blue field with a coefficient.
You can predict the outcome of esports events by going to the "Virtual Sports" section at the very top line on the main page. It is noteworthy that in this section it is also proposed to bet on horse racing and dog racing. But let's consider a bet on the virtual world championship in auto racing.
Often, in such bets, it is proposed to choose only the winner of the race. To do this, we need to click on the blue box with the coefficient.
Hockey bets are located in the "Important sporting events" section and in the "All sports" tab.
Betting technology duplicates bets on football. Only effective actions change, which, of course, are different in hockey and football matches.
Tennis is also available in the "Important Sports Events" section and in the "All Sports" tab.
You can make both prematch and live bets (for example). Bets are made on the outcomes of games, sets and matches.
Special offers or special bets are bets that are not related to sports. Earlier we mentioned the politics, in addition to which there are options to bet on the results of the Eurovision Song Contest, the Oscars and much more. The example shows the bet: “Will Prince Harry and Meghan Markle return to permanent residence in the UK in 2021?”.
A deposit is the amount that a bettor deposits into his account on the exchange. Betfair emphasizes that the entire responsibility for the confidentiality and security of the deposit lies solely with the player. Therefore, all personal data that will help attackers hack into your account must be kept in the strictest confidence.
Users are unlikely to have problems with replenishing an account or withdrawing money, since the exchange offers all kinds of ways to conduct money transactions.
The following options are provided for replenishing the account:
- Through a bank card with a VISA or MasterCard payment system (as mentioned above, it is important that the currency matches the exchange currency);
- Through electronic wallets (Qiwi, WebMoney, Yandex.Money);
- Through payment systems (Skrill, Neteller, Moneta.ru and others);
- There is even a way through a bank transfer, but this is not very convenient for replenishment, since the money will be credited to the account within 3-5 days.
When using all other methods, funds are credited to the account immediately. The amount of the minimum amount by which you can replenish your account is determined depending on the chosen method:
- for bank cards and the WebMoney settlement system, the minimum amount is $10;
- for Qiwi wallet – $12;
- for Skrill and Neteller payment systems – $20.
There are also restrictions on the maximum amount of replenishment:
- for Qiwi wallet – up to $4400;
- for Skrill and Neteller payment systems - up to $10,000.
All payment systems charge a commission for the transfer, the amount of which must be clarified before transferring. The obligation to pay the commission lies with the client of the exchange.
Payouts of winnings
To withdraw money, players are provided with almost all the same methods as when replenishing an account, with the exception of withdrawing to a bank card with the MasterCard payment system and to Moneta.ru.
When withdrawing funds from the account, the restrictions on the minimum amount are determined in the same way as when replenishing, based on the chosen method:
- for Qiwi wallet – $10;
- for Neteller payment system – $20;
- for a bank transfer - 30 $.
There are requirements for the maximum withdrawal amount only in the case of using a Qiwi wallet and Skrill and Neteller systems. In this case, you can withdraw no more than $10,000. Before withdrawing funds, the person who carries out the withdrawal must undergo a mandatory verification.
Terms of enrollment depending on the selected withdrawal method:
- withdrawal to a bank card is the longest, since funds can be received within a week;
- winnings are received on the WebMoney settlement system no more than 3 days;
- the fastest transfers are made to electronic wallets and payment systems, since the terms of receipt are no more than a day.
Betfair Poker PC Software
To create the most convenient and comfortable conditions for the game, it is advisable to download the Betfair software for PC. According to its developers, it is suitable for all operating systems, but actually works best with Windows.
You won’t have to look for a program for a long time, since the download link can be found in the Poker section on the official website of the betting exchange. When you click on the link, the download will begin, the format is .exe.
To log in, you need to use the account that was created through the website. It is important that at Betfair Poker it is forbidden to create more than one account from the same IP address.
Taxes at Betfair
The Betfair tax on winnings is 6.5%. Also, the amount of winnings may decrease due to the commission when withdrawing money. The size of the commission depends on the payment system. For example, when withdrawing money to a bank account, the commission will be $15. But VISA Electron will not calculate a percentage for itself.
Sponsorship and partnership
Betfair financially supports many young sports and business projects. Among the eminent partners of Betfair, the world-famous football club Manchester United can be noted.
Frequently asked Questions
Most of all, Betfair bettors praise the betting line. Indeed, not every bookmaker can bet on dog racing or the personal life of the British royal family.
In high esteem and support from Betfair. Players like the competence and speed of responses of operators, but they get a little bored with bots.
Betfair registration is also more praised than criticized. Although this process is almost identical on all similar resources.
But bettors often complain about the withdrawal of funds. Someone wants a greater variety of payment systems, someone is dissatisfied with the commission and payment delays. Also, there are not enough bonuses and freebets for players.
Most of the complaints are on the account of blocking the Betfair website, which is why browsers do not have time to distribute mirrors. Sometimes bettors complain about the incorrect calculation of the bet, account blocking and even confiscation of the balance. Note that we only duplicate reviews, without understanding who is right and who is wrong.
Information about the company
The exact date of the founding of Betfair: May 1999. From January 2018 to the present, the post of CEO of the exchange has been held by British businessman Peter Jackson. Until February 2016, Betfair was listed on the London Stock Exchange.