Betfair is a betting site active since 2000. It continues to offer a wide variety of bets and completely new features for customers. We are talking about a new way of betting that has been developing in recent years. In 2016 Betfair merged with Paddy Power however both operators continue to work separately.
What is betting exchange market and why it’s a better than the traditional way of betting?
Here is what the new betting method consists of. This book offers the platform called exchange where the player plays against another player in player-player mode. For instance, if you make lay bet on Borussia Dortmund’s win in a match in German Bundesliga, you will win if Borussia does NOT win. And since in this case the betting organizer – in our case Betfair – does not take the risk the margin isn’t counted as usual. So this means that the odds will remain fair and dependent only on the market. In other words, if the market “has decided” that two volleyball teams have equal chances to win, the odd for each of them will be 2.00.
Of course, Betfair isn’t a charity organization. The company has its own way to profit, though: thanks to the commission it has introduced for each winning bet. The commission for a winning bet in Ghana is 6.5%. These 6.5% are extracted from the net win. For instance, if you have placed €100 on 1.20 odd and you win the operator will extract a % commission only from your €20 net win. Despite this commission, the exchange remains a valid alternative to traditional bets because they offer higher odds than the average. But in traditional betting there’s only one winner: the bookie or the punter.
Why prefer Betfair to other betting sites?
So Betfair today is definitely the bookmaker that offers the best program on this type of betting, also thanks to the large customer package it can offer. After all, you can’t bet in a betting exchange if there are no punters to bet against, right? It happens with least popular events and sports markets that aren’t that interesting or active so they aren’t visited by punters at all, which means they don’t offer any bets for you to bet against. In these cases you need to offer your own odd, but no one can guarantee you that there is going to be someone interested in it to accept it.
Betfair offers a free bet as a welcome bonus up to a maximum of 100£. Unlike some bookmakers’ deposit bonuses that are bound with many confusing rules and conditions, Betfair deposit bonus comes with simple rules – make a deposit of at least £100 and you will get a bonus of the same amount. If the bet fails the operator will return your money.
Pros / Cons
- Surebets are allowed
- No win limits imposed
- You can act as a bookie
- Bet trading is available
- A bit overwhelming to new players
- Live horse racing can be viewed only if you bet 2€
- Slow response times from the support team
Betfair – Sportbook
Since 2013 Betfair also offers a classic betting platform with the traditional odds offered by the bookmaker and selected by bettors. Where in fact the exchange market does not offer liquidity due to a lack of bettors, especially in minor leagues, so here it is possible to use traditional bets. The odds here are worse than those from the exchange market and from popular bookies’ odds. But yet, the additional sports betting platform to the exchange market makes Betfair a complete betting website to join. What is sure to excite every bettor, is the huge variety of offered sports and markets. Many alternative bets and events are available, while Betfair has also become the first choice of horse races bettors. Of course, some of the most useful services, such us cash out and live streaming (you have the chance to watch full in play horse races), are available at Betfair’s sportsbook and the Betfair.com mobile app. The most common payment methods for deposits and cash-outs are accepted. Transactions can be made using credit cards, Neteller, Skrill, Clickandbuy, PayPal and many more.