Betfair Review - $200 Bonus Bet

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 Promo Code

Betfair is currently offering new customers up to $200 in Betfair bonus bets to the value of your first bet. To claim your $200 in Betfair bonus bets, simply sign up with Betfair now via this link and use the Betfair Promo Code

Betfair bonus

*Betfair offer not available for residents of Victoria, NSW, SA and WA.

Sign up now and claim your $200 Betfair bonus*

*offer not available for residents of Victoria, NSW, SA and WA.


Betfair Review

In our comprehensive Betfair review and user guide we will cover everything that you need to know about this revolutionary giant of the betting industry, from how to sign up with Betfair, how to take advantage of the Betfair Bonus offer to placing your first bet, the markets you can bet on at Betfair, how to enjoy the range of user features on offer at Betfair plus much more.

Our Betfair review and user guide has been written with you, the punter in mind. We've researched every aspect of Betfair to assist you in deciding if Betfair meets your betting needs and how to get the most out of your experience with Betfair.

What you will find in our Betfair review:


Introducing Betfair

Betfair was launched in the UK in June of 2000 and has since become the largest online betting company in the UK. With over 1 million active customers and a turnover exceeding £50 million per week, Betfair can make the claim to be the worlds largest betting exchange. In November of 2005 the Tasmanian government licensed Betfair in the state, with Betfair launching their Australian operations. In mid 2014 Betfair sold a 50% stake of Betfair Australia to Crown Resorts. 

Betfair offers punters a great range of sports to bet on both pre-match, in-play and on their exchange plaform, from the most popular sporting leagues, tournaments and competitions in Australia such as the AFL, NRL, A-League, Super Rugby, horse, harness and greyhound racing, to the most popular leagues, tournaments and competitions across the world such as the English Premier League, the Champions League, popular US sporrs leagues like the NFL, NBA, MLB, NHL and of course international cricket and tennis.


Betfair Facts & Figures

Company: Betfair
Head Office: Hammersmith Embankment, London, England.
Founded: 1999
Employees: 1800 world wide
Sports Betting License: (Australia) Tasmanian Government.
Customers: Over 1 million active customers world wide
Betfair Promo Code

Betfair logo


Signing Up With Betfair

Before you can place bets with any online bookmaker or betting exchange you must first register your details and create an account with them. This is most often a simple process through which you will be asked to provide some essential personal information.

So how to sign up with Betfair? It's simple and our step by step Betfair sign up guide will take you through this process.

Step 1

When you visit Betfair you will see a 'join now' link displayed at the top of the page. Just click this link and the Betfair account registration page will open for you.

Betfair join

Step 2

The Betfair registration page will ask you to enter some basic personal information such as your name, date of birth, address, phone and email address. If at any point in your account registration you have any issues or queries, click the Chat Now button to start talking with Betfair customer help.

Step 3

Once you have provided Betfair with all the required information, click the yellow Open Account button at the bottom of your completed registration page. You will then be given the chance to deposit funds into your new Betfair account. (We will discuss the range deposit methods available to Betfair customers later in this review).


How To Claim Your Betfair Bonus Bet

In order to claim your Betfair Bonus bet, first sign up and create an account with Betfair, use the Betfair promo code FB and when prompted deposit money into your Betfair account. Once you have deposited funds into your account, place your first bet with Betfair with a stake of up to $200 and if your first bet with is unsuccessful, Betfair will refund the value of your first bet stake up to $200.

This does not mean that your first bet needs to be $200, but rather that the limit of your bonus bet is any bet up to $200. So for example, if your first bet with Betfair is $200, should that bet lose, you will receive the maximum $200 Betfair bonus bet. On the other hand, if your first bet is $50, your bonus bet will be $50.

Betfair bonus sign up

Claiming your Betfair offer as a Lay Bet

Where your first qualifying bet is a "lay" bet, Betfair will refund your liability up to a maximum of $200.

Betfair Bonus Bet Expiry

You must place your Betfair bonus qualifying bet within 7 days of registering with Betfair in order to claim your bonus bet.

What if your first Betfair bet wins?

In the event that your first Betfair bet is a winner there will be no refund payable. 

Turnover Requirements

Any refunded bonus bet must be turned over at least once on bets placed at odds of 1.30 or greater before you will be able to withdraw the bonus amount.

Geographical Restrictions

Unfortunately if you are a resident of either Victoria, New South Wales, South Australia or Western Australia, you are not eligible to claim the Betfair Bonus Bet. This is a shame of course, but add your email address here and we will inform you as soon as these geographical restrictions are lifted.


Betfair Bonus Comparison

How does the Betfair bonus compare to other popular bookmaker offers? Here's how the Betfair promo offer stacks up against other leading bookmakers.

 Max OfferOffer Type  
Betfair bonus bet $200 First Bet Bonus Betfair bonus bet Read our Betfair review
Luxbet bonus $500 Deposit Bonus Luxbet bonus Read our Luxbet review
Ladbrokes bonus bet $250 First Bet Bonus Ladbrokes bonus bet Read our Ladbrokes review
Bookmaker bonus $250 Deposit Bonus Bookmaker bonus Read our Bookmaker review
Betstar bonus $250 Deposit Bonus Betstar bonus Read our Betstar review
Bookmaker bonus $250 Deposit Bonus Bookmaker bonus Read our Palmerbet review
bet365 bonus code $200 Deposit Bonus bet365 bonus code Read our bet365 review
William Hill bonus bet $200 First Bet Bonus William Hill bonus bet Read our William Hill review
Sportsbet bonus bet $150 First Bet Bonus Sportsbet bonus bet Read our Sportsbet review
Crownbet bonus $150 Deposit Bonus Crownbet bonus Read our Crownbet review
Unibet bonus code $80 Deposit Bonus Unibet bonus code Read our Unibet review


Betfair Mobile Betting

As an increasling number of punters start to use their mobile device to place bets with coupled with the always increasing popularity of live in-play betting, this trend in mobile betting is sure to continue. Key to an enjoyable in-play live betting experience is having a dependable mobile platform to bet with and Betfair provides this.

While Betfair do not have a mobile app available for either iOS or Android, they do however provide a dependable Betfair mobile version of their site.

Betfair mobile


Betfair App Directory

Is there a Betfair app available to meet your betting and trading needs? The popularity of Betfair has led to the development of a number of Betfair apps for betting and trading, created with the specific purpose of streamlining your betting and trading on Betfair not to mention assisting you in finding value opportunities in the markets on offer at Betfair.

You can search for the app to meet your needs at the Betfair App directory. Search by app category, sport, platform and pricing.

Betfair apps


Live Streaming at Betfair

Betfair offers customers live streaming of select sports and racing events.

What Can You Watch?

Visit Betfair's Live Video page to see what streams are currently live and upcoming. You can search across a range of sports including soccer, tennis, horse racing, greyhound racing, volleyball, snooker, basketball, darts, cricket, ice hockey, rugby league, bowls and handball. Please note that Betfair live video may be delayed between 2 and 5 seconds. So keep this in mind if you are using Betfair's live streaming to bet in-play.

Betfair Live Video Access Requirements

Betfair Live Video is only available to Betfair customers who have a funded account with Betfair.

Betfair live video


Betfair Betting Odds

One of the great aspects of Betfair and a betting exchange, is that you have the chance to set the odds as you like. If you're not happy with the odds being offered, offer odds of your own choosing and see if another Betfair customers is happy to take you on at those odds. This gives you the flexibility other bookmakers do not offer and that is the revolutionary aspect of the betting exchange format.

Betfair odds


What is Betfair Cash Out?

Betfair Cash Out is now available for selected Betfair Exchange markets and allows you to take a profit or to limit your loss and liability before a particular betting event has been completed. How does Betfair Cash Out work? Well, rather than having to calculate a potential in-play trade yourself, Betfair does the maths for you and offers you a value for you bet based on current market odds.

An Example Of Betfair Cash Out

Here's an example of what a potential Betfair Cash Out looks like. Here, you have the chance to Cash Out of a World Cup Winner bet on Italy. You could to take the $1.73 profit you've acquired from changes in market odds since you placed your $10 bet, or alternatively, you can let your bet stand, either to the conclusion of the World Cup or to a later stage of the tournament when Italy's odds of winning could be shorter and your Take even greater. It's up to you and this is the beauty of Betfair's Cash Out feature.

Betfair cash out

For full details of Betfair's Cash Out feature, refer to their detailed Cash Out guide and FAQ.


Betfair Promotions, Previews & News

A great feature of Betfair are their regular betting previews and tips. You will find all the latest news and previews at Betting Betfair, with the latest Betfair promotions and offers, betting advice and major event analysis.

Betfair previews


Betfair Deposit

Funding your Betfair account is an easy process with a number of popular deposit methods available for Betfair customers.

How To Deposit With Betfair

Betfair deposits

Depositing via Bank Transfer

You can deposit directly into your Betfair account via your online banking account, using your Betfair account number. You can do so via:

National Australia Bank
Account: TSE (Clients) Limited
BSB: 087007
Account Number: 595704575
Your Reference: BTFXXXXXXXX


Placing a Bet with Betfair

With a very user friendly interface, placing a bet with Betfair is really rather easy. To show you just how simple it is, we've put together a quick step by step guide to placing a bet with Betfair.

Step 1

Log into your Betfair account. If you have not yet registered your details and created a Betfair account, follow our quick guide to creating an account with Betfair here.

Step 2

Select between Racing or Sports from the tabs located on the main menu header. Then select the sport you want to bet on from the drop down menu displayed.

Step 3

When you've found the sport that you would like to place a bet on, select the league, tournament or competition that you wish to bet on from the options provided.

Step 4

Once you have located the market you want to place a bet on, find the event from the options listed.

Step 5

Betfair exchange gives you the option of either backing an outcome or betting against (laying) an outcome. You will see odds offered for a particular outcome and the amount of money that you can stake to bet on this particular outcome.

Betfair backing

In the example above we can see that there is $39 available to stake if I want to back Adelaide to defeat Richmond at odds of 2.28. If you would prefer higher odds, you can enter whichever stake you would like to place on Adelaide to win at the odds of your choice. Your odds and stake will then be listed and available for other punters to lay. Alternatively you can lay positions yourself. In our example above, we can see that a punter is wishing to stake $68 on Adelaide to win at 2.34. We can lay these odds, which means that if Adelaide lose, we claim that punter's stake of $68. However if Adelaide wins, we have to pay up, which in this case would amount to $91.

As you can see, betting on Betfair allows you to not only back outcomes, but to also act as a bookmaker typically would and offer odds to other punters. It's what has made Betfair so popular and why in recent years so many traditional bookmakers began offering live betting and cash out features themselves.


Betfair Withdraw

Withdrawing funds from your Betfair account is a fairly straightforward process. However, before you can withdraw any funds from your account, you must complete the Betfair customer verification process. You can begin the verfication process by visiting the Betfair help centre and clicking on the Account Verification tab at the top of the page. You will then be able to verify your Betfair account.

How to withdraw from your Betfair account

Once Betfair have verified your identity, you will then be able to withdraw funds from your Betfair account. Here's how:

Step 1

Log into your Betfair account, click the My Account link located at the top of the page.

Step 2

Betfair offers a range of popular withdraw methods.

Which withdraw method is best for you? Here's a quick reference guide to each withdraw method available at Betfair.

Betfair withdrawals

Step 3

Enter the amount of money that you would like to withdraw from your Betfair account and your preferred withdrawal method.

Step 4

Depending upon your preferred transaction method, it can take anywhere between a few hours to a few days for your funds to become available to you. If however at any stage you have concerns regarding the status of your withdrawal please contact Betfair customer support for help.


Betfair Customer Support

An important aspect of any bookmaker experience is the quality and availability of customer support provided. Betfair provides customer support and can be contacted via the following methods:

Free Phone: 1300 238 324
Available 7 days a week from 8am to 10pm (AEST)
Email: [email protected]
Live Chat via the Betfair Help Centre
Twitter: @Betfair_Aus

You can also request a live demonstration of Betfair Exchange from your own home PC from 9am to 7pm, 7 days a week. You can request a live demonstration via the Betfair Help Centre.


Responsible Gambling at Betfair

Betfair is committed to responsible gambling. In order to help their customers in this, Betfair ensure that all their staff receive responsible gambling awareness training with Betfair providing the following information and features to assist users in keeping their gambling in check. These include customer determined deposit and loss limits, time Out tools, self-exclusion tools, links to the national gambling helpline and other resources to assist customers, information on self help and gambling awareness information as well as tools to protect underage access to the site.

For more information on problem gambling visit our Responsible Gambling Guide.


3 Things Users Like About Betfair

#1 – Exchange Format

Probably the most popular aspect of Betfair is the exchange format. As discussed previously, Betfair Exchange gives you the chance to both back and lay positions and at the price you want. This gives users great flexibility in their betting, a feature that is not available with traditional bookmakers. Not only can you back an outcome as a punter, but you can also lay positions in much the same way as a traditional bookmaker would.

#2 - Betfair Cash Out

With the rise of betting exchanges, so to came the rise of the Cash Out feature. Just as bet365 and Sportsbet, Betfair also offer a Cash Out feature, giving you the chance to take a profit or to limit your liability prior to the conclusion of a particular sporting or racing event. Betfair does the maths for you and tells you exactly what you profit (or loss) will be if you would like to close your position in-running.

#3 – Betfair Apps

While Betfair does not have an app for their site, instead offering a mobile version for users of iOS and Android devices, you can visit the Betfair App Directory and find a whole range of apps available to help you streamline your betting and trading at Betfair. You can search for apps by category, sport, platform and price.


2 Things Users Don't Like About Betfair

#1 – Premium Charges

One of the chief criticisms of Betfair has been the introduction of their Premium Charges. This is essentially a tax placed on successful Betfair traders. While most Betfair users will not find the Premium Charges impacting their bottom lines, particularly successful traders will see their overall profit margins and in some cases quite considerably. It's unfortunate that such a revolutionary product such as Betfair has decided to limit the play of successful punters.

#2 - Getting Bets Matched

While some punters complain about the frustration of getting their bets matches at Betfair, it simply is the way it is. For all the positives of the betting exchange format, the frustration of not getting some bets matched, is really only a small issue.


10 Frequently Asked Questions and Answers

#1 – What is the Betfair bonus code?

You can check the Betfair bonus code here.

#2 – What is the difference between a bonus bet and deposit bonus?

While some bookmakers such as bet365 offer a sign up bonus giving you a bonus on top of your first deposit, Betfair offers you a bonus bet in the event that your first bet with Betfair should lose. So what's the difference? Rather than applying to your first deposit, Betfair's bonus bet applies to your first bet, matching it 100% up to $200 if your first bet loses.

#3 – What is required to claim my Betfair Bonus Bet?

It's easy. To claim your Betfair Bonus Bet, you must first sign up and create an account with Betfair. When prompted, deposit funds into your account and use the Betfair bonus code. Then once your account is funded, place your first bet. If your first bet loses, Betfair will refund your stake up to a maximum of $200.

Please note that this does not mean that your first bet has to be $200. It simply means the limit of your Betfair Bonus Bet is up to a maximum of $200. So how about an example? Let's say your first bet is $200. If this is the case, you will receive the full $200 maximum bonus bet should your first bet with Betfair be a losing bet. If your first bet is $50, your bonus bet will only be $50.

#4 – Why does Betfair offer new customers a 100% bonus bet?

If you've been watching any televised sporting events recently, you will have surely noticed just how competitive the betting industry has become. Betfair offers new customers a 100% bonus bet up to $200 as a way of enticing new customers to sign up with Betfair.

#5 – How can I contact Betfair customer support?

There are a number of ways that you can contact Betfair customer support.

Free Phone: 1300 238 324
Available 7 days a week from 8am to 10pm (AEST)
Email: [email protected]
Live Chat via the Betfair Help Centre
Twitter: @Betfair_Aus

You can also request a live demonstration of how the Betfair Exchange works from your own home PC from 9am to 7pm, 7 days a week. You can request a live demonstration via the Betfair Help Centre.

#6 – What sports can I bet on at Betfair?

Betfair offers a great range of sports markets for you to wager  and trade on. You will find each of the following sports available at Betfair: American football, athletics, Australian rules football, badminton, baseball, basketball, bowls, boxing, cricket, cycling, darts, financials Gaelic sports, golf, handball, ice hockey, MMA, motor sports, netball, poker, politics, pool, rugby league, rugby union, snooker, soccer, surfing, tennis, volleyball and winter sports.

#7 – Can I bet on my mobile with Betfair?

Yes, Betfair offers both a mobile version of their site plus access to a superb range of Betdair apps available through the Betfair App Directory on the following platforms:

Mobile and Tablet
iPad
iPhone
Android

#8 – Does Betfair offer live streaming?

Yes, visit Betfair's Live Video page to see what streams are currently live and upcoming. You can search across a range of sports including soccer, tennis, horse racing, greyhound racing, volleyball, snooker, basketball, darts, cricket, ice hockey, rugby league, bowls and handball.

#9 – Does Betfair offer a Cash Out feature?

Yes, Betfair provides customers the ability to cash out and settle any bets in-play popular betting markets. This provides you with the opportunity to take a profit (or limit your liability) at any stage of the event that you have bet on.

#10 – Does Betfair currently offering a streamlined live betting feature?

Betfair customers are able to bet live via the internet on horse racing events, but are still restricted to phone betting to place bets for sports events.


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