Launched in 2000, Betfair revolutionised the industry by enabling gamblers to directly bet amongst themselves. Now Betfair is home to the biggest online betting exchange and the world's largest betting community.
Betfair Exchange Bonus
Right now you can get a Betfair Exchange bonus of a risk free £/€20 bet! In order to successfully claim your new customer £20 free bet offer you must place your first Exchange bet within 7 days of registering and wager at least £20 (note that you must also settle the bet within this period). If your first bet is less than the minimum of £20 in the first 7 days then you won't be eligible for this enticing risk free bet offer.
Unfortunately at this current time there isn't a Betfair Exchange bonus code for us to offer you - it would definitely be worth your time in checking back in with this review as we will strive to update often and give you the very latest promo offers from Betfair.
Betfair Exchange Explained
The Betfair Exchange and it's wide range of sports betting options is second to none. When you click on the 'sport' tab at the top of the main interface, the left sidebar will appear where you will not only be able to search for the sport or league that interests you, but you will also find a list of both popular sports as well as the full list of sports available. You will quickly see that you can bet on everything from the most popular leagues in European football and American sport, to the more obscure sports and leagues that many of the other bookmakers just don't offer odds on. You can even find a range of special bets, where you can put money down on political elections, financial markets and selected entertainment events.
With the Betfair sportsbook as a new or current player you can get fixed odds and chances to cash-in from money back offers and multiple bet bonuses. The exciting Betfair sportsbook provides greater betting opportunities to players. You can read more about the sportsbook side of Betfair by reading our review right here.
Signing-up with Betfair is a simple and straight forward process. There's even a new customer offer of a free £20 bet if you bet a minimum of £20 - you're free bet will credited (if you lose) within 72 hours. You'll be asked to provide basic personal information and if at any time you have difficulty while creating your new account, Betfair's help details are readily available on the sign-up form. You can contact Betfair help by email or via a toll-free phone number.
The minimum deposit amount varies in accordance to the payment method used, Paypal is £5 minimum whilst Neteller is £12, all others are £10 minimum deposits.
Betfair's opening layout is full of useful and well presented information. You won't feel overwhelmed by any dazzling promotional graphics. What you will see is everything you need to get started finding your way around the site, presented in a subtle and user friendly manner with the intelligent sports gambler in mind, this means you! You can even change your opening home page depending upon your betting interests.
Betfair Racing Markets
Betfair has all of your racing interests covered. Whether it's racing in England and Ireland, racing in Australia or even the United States, race meets of every variety are available to bet on at every moment of the day, and it's here where a great deal of the action in the Betfair betting exchange takes place. The odds move quickly giving you as the trader, plenty of opportunity to find arbitrages as you back and lay against the runners.
Betfair offers a whole range of betting options, covering everything you would find at your conventional sportsbook. From head to head, handicaps and over/unders, to the more exotic and the imaginative. If you've got an obscure angle of an upcoming sports event, check with Betfair first, it's likely they'll be offering it.
Banking with Betfair is a breeze and there are many transaction methods available, with great online and phone help and speedy payments. Don't worry about having to wait for your account balance to updated following a win, it'll be there ready to invest again in no time at all.
Click the 'deposit' link on your 'user status' window located in the top right corner and the deposit window will open in a new browser. Here you are presented with your deposit options. You can make a deposit with an online money wallet such as Moneybookers and Neteller or you can add a credit card and deposit from there. You can also deposit by cheque or by bank transfer.
Betfair offers all the withdrawal methods that you would hope for including both Mastercard and Visa credit cards, bank transfer as well as popular money wallets Moneybookers, Neteller and PayPal.
Placing a Bet
Placing a bet at Betfair is incredibly simple and the set-up has been designed with the intelligent sports gambler in mind.
Once you've found the event you want to bet on, you'll see the main betting interface appear for that event. Here you'll not only see the odds being offered by other traders in that market, but you'll also see what odds other traders are looking to back, so the choice is yours!
You'll also see how much money is available at the odds offered or asked for. This however, is one of the drawbacks of Betfair and the principal of the betting exchange – the market depends upon the interest of the traders. The good news however, is that this is only really an issue in particularly obscure sports or particularly exotic betting. For major sports and racing, there is always plenty of money being traded. To see where the money is, simply click on the 'Where's the money?' tab at the bottom of the left sidebar menu. Here you can see the events where the greatest money has been matched or where the money is unmatched. You'll find some of the figures staggering as events regularly find hundreds of thousands of dollars exchanged between traders.
Looking at the main betting interface you'll also see a number of tools available such as a statistical form guide and live scores. You'll also be able to see if the event will have In-Play trading, a place where the truly sharpest betting minds can make great returns. You'll also find 'coupons' for particular leagues. Click on the coupon for the league and you'll see all the odds currently offered for that league's upcoming events.
Placing a bet is just like at any other bookmaker, except at Betfair you get to set the odds you wish to back or lay. Once you've decided what odds you'd like, you'll be given the opportunity to confirm you selection. Once confirmed, it's just a matter of getting your odds matched. Once matched, the bet is on. Remember you can also bet using Betfair mobile app.
Betfair Help & Support
Betfair provides you with a detailed and searchable FAQ, where you can learn almost anything you need to know about how the betting exchange operates. If you can't find what you need, then there are both email and phone help options available. You'll find them easy to talk to and more than helpful with any issue you may while at Betfair.
I'm pretty impressed by the active Betfair forum, which gives its community members the chance to share and discuss on all the games from all of the sports going on internationally. With polls and live discussions categorised for individual sports, gives its community the chance to come together, share team line-ups and also odds.
When placing a bet, you'll find plenty of tools to help you determine who is going to come out on top. From form guides, statistics, racing data and live coverage of sports events, to TV guides, results and live scores. There's plenty of ways that Betfair helps you to pick a winner.
Betfair Exchange Review Verdict
A five star review for a five star betting exchange, it doesn't get much better than that! There's every reason for you to get yourself over to Betfair right now, with an exciting bonus code offer and a name in the business that is highly respected. However, as generous as we've been with our star rating, it's also fair to say there are some areas of improvement (yes we like to keep these sites on their toes) and with charges on some profits and poor liquidity on some markets, it's worth keeping one eye on these smaller issues in an otherwise excellent betting environment.