Betfair are now the world’s biggest online provider of sports betting after pioneering the first successful Betting Exchange in 2000.

Customers can also take advantage of the higher odds often available on the Betting Exchange, in addition to the Casino, Poker, Bingo and Games sites that are also available.

Holders of UK, Italian, Maltese and Australian licences, the company also incorporates Betfair US – which is made up of LMAX, a financial trading platform, and American TV Games Network (TVG.)

According to Betfair – who employ more than 2,000 people – they have over four million customers registered worldwide and they process an average of over seven million transactions per day.

Betfair launched their Betting Exchange in 2000 and quickly saw their popularity increase within 12 months – as customers and bookmakers alike subscribed to the unique new betting concept. In-running markets for horse racing were introduced in 2001, before the idea of in-play football bets followed.

The company unveiled their Poker site and online Casino in 2004 and 2006 respectively. 2006 also saw Betfair purchase Timeform, a horse race ratings company, which helped them to launch a Betting Exchange service in Australia.

American TV Games Network (TVG) was bought for $50m in 2009, which enabled the company to introduce themselves into the US market. October 2010 then saw a floatation of Betfair Group plc on the London Stock Exchange, which valued the company at £1.4bn.

The company moved some of their operations to Gibraltar in March 2011, before announcing revenue profits of £389.7m the following year.

Established: 2000
Country: United Kingdom
Regulatory Authority: UK Gambling Commission

Betfair have dedicated sportsbook offers, of which some are regular staples of their coverage.

The company also offer the opportunity for customers to Cash Out on their in-play bets, whether they are winning or not – allowing customers to quit while they’re ahead, or cut their losses, just by clicking a button.

With hosting two different services under the Betfair umbrella, customers also have the option to use the site’s Betting Exchange service.

The main thing of this service is that it can generate considerably better odds than standard bookmakers – as customers bet between themselves, meaning they can lay their own prices.

Betfair takes a commission from all winnings for providing the service. The level of commission starts at 5%, but customers who regularly use the service see reductions applied to this amount.

The company also rewards customers who refer others to Betfair, through their Refer and Earn promotion. Customers are given cash for referrals, which they receive once the person they’ve referred has signed up and betted on the website.

Betfair Melbourne Cup Offer

Betfair’s exchange is the place for savvy Australian punters to go if they’re looking for extra value for their Melbourne Cup betting. Giving punters the chance to bet against each other often results in bigger odds being available on the exchange and that’s certainly the case for the Melbourne Cup. If you bet on the exchange you have the added things of being able to trade out of your position to secure profit long before the race begins.

Free Bets Explained:

Freebets Australia largely feature bookmakers who offer new customers an introductory free bet for registering an account and either for placing the first bet or making a first deposit. Due to the Australian Government’s online gambling regulations some States and Territories are excluded from these promotions. Victorian, New South Wales, South Australian and Western Australian residents are ineligible for bookmakers’ Welcome Specials but Queensland, ACT, Northern Territory and Tasmanian residents can take advantage of ‘Free Bet upon Registering’ promotions.

The free bet 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 3.00, 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 based on the amount of the first deposit, the 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 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 attached.

BETFAIR ODDS AND MARKETS

Betfair do a great job of covering both the major sports and more diverse areas of the market with their Sportsbook service. However, this is expanded further still by the vast coverage supplied on their Betting Exchange.

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, Basketball, Boxing, Cricket, Cycling, Darts, Gaelic Sports, Golf, Greyhound Racing, Handball, Ice Hockey, Mixed Martial Arts, Motor Sport, Rugby League, Rugby Union, Snooker, Soccer, Tennis, Politics and Special Bets.

Betfair also allow customers to place Sportsbook and/or Exchange bets on their Mobile App. The app presents users with exactly the same options as Betfair’s website – such as account management, placing single and multiple selection bets and live score updates – and it can be downloaded for Apple, Android and Blackberry devices.

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 include an in-depth help section on their website, which covers every aspect of each of their services and ranges from FAQs to video tutorials.

Their dedicated customer service team can also be contacted by telephone, email or through Twitter.