Launched in 2000, the Betfair betting exchange operates as a middle man for players to place bets against each other. In simple words, it lets you act as a punter or a bookie. On the one hand, there are bettors who want to buy (back) a selection and, on the other, those who want to sell it (lay). If both parties ‘’agree’’ on the odds, then the bet is considered matched. The Betfair exchange makes money from the commission it charges on winning bets, which starts from 5% in the UK and Ireland, and rises up to 7% in other countries. While wagering, you can collect points and qualify for a discount on the commission.

Betfair is not the only betting exchange in the world, but is the one with the highest liquidity. Liquidity, or market depth, is the total amount of money that you can bet (back or lay) at the corresponding odds. High liquidity means a bigger chance of your bets being matched. All the major markets for the most popular sports are covered in the exchange. You can back or lay more than 150 football selections, including Over/Under, Cards, Corners and Player Specials. In horse and greyhound racing, players can bet for or against markets like Win, Each Way and Forecast. The minimum bet amount is set at £2.

Betfair Sportsbook Review 

Betfair is a popular betting exchange, but since 2012, it offers a regular sportsbook, too. It contains 35+ sports, ranging from football and horse racing to cycling and futsal, with an overall payout of 93%. The football odds are slightly higher than the sportsbook’s average, and there are more than 500 markets at hand. Players can wager on Cards, Corners, and Players Specials, but no Asian Handicaps. In tennis, you can find more than 40 options, including Alternative Handicaps and Correct Score.

The horse and greyhound sections at the Betfair sportsbook contain more than 150 races every day, from several countries like the UK, Ireland, Australia and the US. There are Enhanced Odds and Extra Places paid on the top UK and Irish races on a daily basis. Players can place ante-post wagers well ahead of time, alongside Special bets such as Top Jockey and Winning Distance.

Live Betting at Betfair

Both the exchange and the sportsbook have a live betting section, as well. The odds in the exchange are better, but in secondary leagues the liquidity is often not high enough to match your bets. It is better to have it as an alternative. The in-play offering at the fixed-odds contains more than 25,000 events every month. In football, the payout is average. With the Fast Markets, you can bet on a Goal, Card, Penalty, Corner, or Free Kick to happen in the next few minutes of a match. The Betfair sportsbook also allows live betting on horse racing. You have more than 100 options in tennis, including Alternative Game Handicaps and to Win the Next Point. The bet acceptance time is fast. Our Betfair review determined that all wagers are taken within 3-4’’.

Betting Features

The Betfair bookmaker provides bettors with an extensive range of features. Cash Out can be used in Full, Partial, or Auto forms, in both the sportsbook and the exchange. Players can request odds on Twitter by using the hashtag #OddsOnThat. Live Streaming is available for many sports and leagues, namely the La Liga, Bundesliga, the NBA, and the major Grand Slams in tennis. If you want to watch a horse or greyhound race live, you must have placed a minimum of £1 in the sportsbook and £2 in the exchange. There is also a Radio Service that hosts podcasts with daily tips on the best horse and football events. Finally, the Bet Builder feature can be utilized both pre-match and live to add selections from the same event into your betslip.

Other key information

Online sportsbooks, especially as big as the Betfair bookie, pay attention to many other aspects. The website is easy to navigate with a smartphone and there is a mobile app for Android and iOS devices. Customer Support can be reached 24/7, in English, German, Italian, Portuguese, Russian, and Spanish, via email, phone or Live Chat. Telephone betting is also an option, as long as you wager £50 or more. Bettors can perform payments with Visa, Mastercard, Skrill, Neteller, and PayPal, among others, but commission fees may apply in both deposits and withdrawals. The winning limits are high; you can earn up to £1,000,000 on the top football and horse racing events.