Pioneers of the first successful Betting Exchange in 2000, Betfair have now grown into the world’s biggest online sports betting provider.
Offering new customers a registration bonus of up to a $200 refund if their first bet loses and a range of other promotions to existing Betfair customers, who are eligible for all offers across the site; be it for their Exchange or Sportsbook services or their Casino, Poker, Bingo and Games platforms.
They hold licences in the UK, Italy, Malta and Australia and the Betfair Group also includes Betfair US – which consists of American TV Games Network (TVG) and LMAX, a platform for financial trading.
The company claim to have over four million customers registered worldwide and, on average, their Betting Exchange processes over seven million transactions per day.
Founded in 2000, Betfair’s unique concept of Exchange Betting saw its popularity soar with both customers and bookmakers in just one year. After starting with in-running horse racing markets in 2001, the service then introduced the idea of in-play football betting to the market.
Their Poker site went live in 2004. Their online Casino followed in 2006, in the same year that Betfair acquired well-established horse race ratings company Timeform – allowing them to launch a Betting Exchange service in Australia.
The $50m purchase of American TV Games Network (TVG) in 2009 then saw the company expand into the US market, before Betfair Group plc was floated on the London Stock Exchange in October 2010, where it was valued at £1.4bn.
March 2011 saw the company relocate some of their operations to Gibraltar and, a year later, Betfair – who employ over 2,000 people – announced revenue profits of £389.7m.
Established: 2000
Country: United Kingdom
Regulatory Authority: UK Gambling Commission
BETFAIR BONUSES AND PROMOTIONS
Betfair regularly reward new customers with sign-up bonuses. At the moment, they are promising to refund a new user’s losing first bet.
In order to use this offer, register on Betfair’s website using the promo code FBRPHD and begin betting, once you have deposited funds. If your first bet loses, Betfair will refund up your qualifying bet up to the value of $200.
An exclusive to new Australian and New Zealand-based customers – except those based in Victoria and Southern Australia – the bet must be placed within seven days of registration, in order for it to qualify for the offer.
The main bonus of Betfair’s Exchange service is that the available odds can often be considerably more generous than those of standard bookmakers – as customers are betting against each other and can lay bets at their own price, once they decide whether to bet for or against an outcome.
For providing the service, Betfair takes a commission from all winnings. This commission defaults at 5%, but loyalty reductions are applied for more frequent customers.
This popular Exchange allows Betfair to provide an extensive coverage of markets – as players can set their own odds for most events, meaning that the odds offered are usually greater than with standard bookmakers.
The website also gives customers the opportunity to use the site’s Sportsbook service.Betfair also run dedicated Sportsbook offers, which are available to all registered customers on the site.
The Owners’ Club allows registered Owners’ Club members to claim an extra 20% win bonus on their Tote Extra selections, when they back a horse or greyhound which they own (or part-own.)
To qualify for the bonus, owners must register the names of their horses and/or greyhounds on the site, which can be accessed from the JOIN THE CLUB link on Betfair’s website.
Betfair also run a Cash Out bonus on their in-play bets, regardless of if they’re winning or losing at the time. This allows customers – at the click of a button – to cut their losses or quit while they’re ahead.
The company also offer bonuses to customers who get others to register with the company with their Refer and Earn promotion. This sees customers paid cash bonuses for referrals who then sign up to and bet on the website.
Free Bets Explained:
Free bets and bonuses are given to customers for free play in the Sportsbook and where specified on the website’s other gambling services like casino and games. AUFreebets largely feature bookmakers who offer new customers an introductory free bet or bonus for registering an account and either for placing the first bet or making a first deposit.
The free bets vary in amount according to the bookmaker’s own policies and are subject to terms and conditions. Customers will not receive the free bet stake with returns on winning free bets – for example if a $25 free bet wins at decimal odds 3.00 (fractional 2/1), the customer will receive $50.
Customers will be expected to risk real money before receiving free bets – for example place a $50 bet and receive a $50 free bet. Many bookmakers offering this type of free bet will allow customers to withdraw winnings from the free bet straightaway, but some bookmakers will ask for certain wagering requirements to be met – for example bet the amount of the free bet four times before withdrawing winnings.
Where customers receive a bonus based on the amount of the first deposit, the bonus amount will not be available for withdrawal until wagering requirements are met. The wagering requirement will involve betting the amount of the real money deposit and betting the amount of the bonus at least once and often more.
Occasionally, bookmakers may offer a risk free bet, where they will refund the stake if the first bet is a loser. Sometimes such refunds may be withdrawn instantly but most are awarded as a free bet and may have wagering requirements to meet.
BETFAIR ODDS AND MARKETS
Betfair are great at providing coverage for both major sports and the more niche markets that punters can bet on using their Exchange service. This service is well supported by the Sportsbook service, for customers requiring a Fixed Odds service.
They provide a dedicated section of their website for Australian Horse Racing and Greyhounds. Through this, they can give more focus to Throughbred, Harness and Greyhound racing, in addition to their coverage for other Horse Racing markets.
In addition to Horse Racing, the other markets Betfair’s Sportsbook service covers include: American Football, Australian Rules, Baseball, Bowls, Boxing, Chess, Cricket, Cycling, Darts, Gaelic Sports, Golf, Greyhound Racing, Handball, Ice Hockey, Mixed Martial Arts, Motor Sport, Rugby League, Rugby Union, Snooker, Soccer, Tennis, Volleyball, Winter Sports, Financial Bets, Politics and Special Bets.
Betfair also have a mobile app for Exchange or Sportsbook Betting on the go. This gives users the same options as the Betfair website and is available on Apple, Android and Blackberry.
BETFAIR PAYMENT METHODS
Account Currencies:
AUD, DKK, EUR, GBP, HKD, NOK, SEK, SGD, USD
Payments:
MasterCard, Visa Electron, Solo, Switch, Delta, Entropay, Bank Wire, Check, 8Pay, ClickandBuy, Western Union, Skrill (Moneybookers), NAB, PayPal, Neteller, Credit Union Transfer.
BETFAIR CUSTOMER SERVICE
Betfair’s website includes an in-depth help section covering all aspects of their services, which ranges from FAQs to video tutorials.
They also have a dedicated customer services team, who can be contacted by telephone, email or through Twitter.