Betfair review

Introduction

Betfair is a British sports betting exchange founded by Andrew Black and Edward Ray in 1999. The specific thing in an exchange is that instead of betting against the bookmaker, the participants place bets on sports against each other.

Today, Betfair owns the biggest share of clients in the world of betting exchanges. The number of Betfair’s regular customers is around 4 million. Hundreds of thousands of operations are performed every day on Betfair’s website and the daily turnover is measured in dozens of millions of GBP. For being a mediator between the bettors, the exchange receives between 3 and 5% of their winnings.

The idea of founding a betting exchange turned out to be more than successful and its implementation was so successful that this unique project was repeatedly awarded in such categories as: Entrepreneur of the Year, Company of the Year, Innovation in International Trade, and so on.

Nowadays, Betfair offers its users the following list of services:

• Betting exchange;
• Traditional bookmaker’s services;
• Casino;
• Poker;
• Slots, etc.

The betting exchange is primarily designed for professional bettors. Beginners can also join the luck seekers: there is a special service that gives them a detailed description of Betfair’s features.

Key advantages

The betting line includes football, boxing, hockey, volleyball, handball, etc. Also available is betting on horse racing and significant political and cultural events.

The exchange accepts “live” bets on sports events. Not all bookmakers provide this opportunity and most of them cease accepting bets when the match starts. This approach increases the players’ excitement and interest as the odds change in the game process.

Moreover, the bettors have the opportunity to set their own odds or accept odds proposed by other participants on the exchange. All of these betting options attract players and are consistently popular.

Since 2006, Betfair’s website has a mobile version for bettors with smartphones and other mobile devices. Although, for bets on virtual sports and games in the “Live casino” customers need to use the main version of the site.

Over the past few years, the British betting market has been difficult to reach for residents of various countries due to administrative restrictions of a legislative nature. Those who wish to bet anyway, can use mirror websites - analogues of the official website of the brand. More and more popular become the services of the so-called “agents” which provide to restricted bettors access to the exchange. For more information about these services read our article: https://allfortips.com/en/pages/bet-with-an-agent.

Betfair and legislation

The Betfair brand unites a group of companies.

The main office is located in London, UK but Betfair has representative offices in many countries and operates in accordance with their laws. In particular, Betfair has licenses from Great Britain, Austria, Germany, Australia and other countries.

Customer service  

The main advantage of Betfair’s customer support is consulting in several different languages. Replies are usually received in two or three hours.

There are free of charge phone numbers for residents from different countries.

To completely understand the specifics of betting on an exchange, customers should visit the “Help” page.

How to contact Betfair?

Betfair provides to its customers several ways to contact customer service.

Е-mail: info@betfair.com

Phone number: +44 208 834 8060 (may vary for different countries)

Post: Betfair, PO Box 34467, London, W6 9WS, UK

Live chat: www.betfair.com

How to open an account?

If you want to open an account with Betfair there is a special form you need to fill out: all data is in English.

Important! Be sure you are filling in the fields with your correct data because you will be asked to verify it.

When registering you have to choose your account’s currency: USD, EUR or GBP.

After registration, the bookmaker checks the new client. In particular, whether he/she is 18-years old and whether all the information entered into the registration form is reliable. For this purpose, the potential player should send passport scans to the specified email address.

Payment methods

Betfair exchange offers a minimum bet of USD 4. The maximum amount is practically unlimited.

Betfair provides to its customers most of the popular options for depositing and withdrawing funds. There are available:

• Bank cards – Visa, MasterCard;
• Payment systems - WebMoney, Skrill, Neteller.

Once deposited, the funds are credited to your personal account immediately. Only in case of a bank transfer, you will have to wait a few days. Withdrawals are processed through the same payment methods. Before proceeding with the withdrawal, you will have to pass a verification procedure. It will take time - from one day to five, to receive the requested amount.

Bonuses and promotions

Betfair is well known to experienced bettors as a company that regularly offers various promotions. Beginners can count on a EUR 10 bonus provided on their first deposit. If you, a registered customer, want to qualify for a free bet, you need to fund your account with a minimum amount of EUR 10. If the bet wins, the bonus will not be credited, believing that the player will be satisfied anyway. But in case of a loss, the bettor will receive 10 EUR.

According to Betfair’s policy and in order to encourage players to place bets on sports more often, >the exchange reduces the size of the commission with every bet placed by the client.