Overview
Betfair was created in 1999 by Andrew Black and Edward Wray, and in 2000, became an online betting site. Since then, the esports site has grown from strength to strength and has now become the largest betting exchange in the world, with millions of customers all over the world. In 2016, it completed a merger with Paddy Power, another major player in the betting industry, making it the biggest, best, and one of the most reliable betting sites in the world today. The site offers its users casino games, sportsbook games, poker, bingo, lotto, and many more.
One sour point to note when it comes to Betfair esports, which continues to haunt it to this day, is the 2010 scandal that rocked the site. In that year, it introduced a “Casino Happy Hour Bonus” by which it offered its numerous users a 50% bonus on every £200 deposit. Better still, this bonus was unlimited for all of the players and was available for three hours. The bonus could also be unlocked after 12 hours.
As expected, many users rushed in on this lovely bonus, and the bookmaker ended up losing hundreds of thousands of dollars. After the bonus ended, the site in an attempt to recoup their losses, banned and locked streaks for players who won using the bonus, as well as confiscating their accounts. Betfair also took the users’ winnings, failing to refund those who lost during the promotion. In an email, it claimed that the confiscated accounts were guilty of bonus abuse due to unusual gaming and deposit activity.
This action gave a negative vibe towards the site, as they didn’t accept the fact that the bonus was a mistake on their part, but instead, punished players for it. However, since that episode, the site hasn’t done anything like that, though it led to bad blood between them and their customers and also led to a reduction in Betfair review ratings.
They have, however, come out stronger from that, and continue to be highly recognized among punters for their incredible odds, a high number of promos, and service delivery.
Overall Rating: 3.6/5
- Initial Bonuses – 3.5/5
- List of Esports – 3/5
- Betting Markets – 4/5
- Customer Support – 3.5/5
- Payment Methods – 4/5
- Total score – 3.6/5
Betfair is regarded as the biggest bet exchange in the world and focuses on that aspect than on their sportsbook or esports section. They are not the best when it comes to welcome bonuses, esports games, and customer support, but they have a good range of payment methods and betting markets.
About
Betfair is an online gambling company currently operating as the largest online betting exchange in the world. This bookmaker also offers its numerous users sportsbook betting, casino betting, poker betting, bingo betting, and many more. It is licensed in the United Kingdom, Malta, and Gibraltar, with corporate headquarters at Hammersmith, in West London, United Kingdom, as well as Clonskeagh, in Dublin, Ireland.
Used to be listed on the London Stock Exchange as Betfair Group, before its merger with Paddy Power, which led to the formation of Paddy Power Betfair, and now Flutter Entertainment, on the 2nd of February, 2016.
How Does The Site Work?
The Betfair betting site is quite different from most other betting sites, in that it serves as both a sportsbook site and also as a bet exchange site, which makes it unique from others. The sportsbook section is similar to that of other sites, in that users, after making their deposit, wager on games of their choice, and then stake a certain amount of money from their wallet or deposit. If the bet comes to fruition, then such a user wins and can withdraw all or part of his or her earnings, or stake all or part of it on another wager.
The bet exchange section of the site is quite different. The Betfair Exchange offers users the opportunity to come up with their own wagers, on their own terms, and with other gamblers on the platform. It is so much fun and gives room for gamblers to be creative. However, Betfair places a commission ranging from 5% to over 40% off every winning on the Betfair exchange
Welcome Bonus
This bookmaker is always glad to welcome new users to their betting platform and appreciate newcomers with a Betfair welcome bonus. The site has one of the biggest welcome bonuses on offer right now. They give newcomers the chance to win up to £100 in bonus funds. However, the welcome bonus is only applicable to customers from the United Kingdom and Ireland. To access the reward, they have to place five bets of £10, with a minimum odds of 1.5, to receive a bonus of £20 in free bets. When they repeat this process five times, they will earn £100 in free bets. The bonus is not applicable to exchange bets.
Customers of Betfair Exchange also have access to a signup bonus that rewards them a £20 risk-free bet. This bonus applies to only new customers, who have to bet up to £20 on the Exchange. If they lose their first bet, they are then refunded with £20 in cash. The new users have to place their first bet within seven days of opening their accounts.
Location And Age Restrictions
The site is available in multiple locations all over the world, with a presence in over 30 European Countries, as well as having a presence in Asia, Oceania, South America, and Africa. It is, however, not present in the United States, although users in Delaware, New Jersey, and Nevada bet via TVG, one of its subsidiaries.
When it comes to age restrictions, just as with all sites, and per betting rules and regulations, only users above the age of 18 are allowed to join the website.
Esports Games Offered On The Site
This bookmaker offers a large variety of games on its platform, with football and horse racing, being two primary areas of focus. Betfair esports games include tennis, cricket, NHL, NFL, Basketball, darts, and many more. Altogether, the site offers over 33 different sports, as well as Casino games, Poker, Bingo, and Lotteries.
Types Of Bets Offered On The Site
There is a sizable betting market available on the site, with a vast number of betting options for punters to choose from. The site boasts of some of the most competitive odds; Betfair odds are rarely ever below that of market-leading odds.
Sign Up/Registration
Becoming a part of the site is as easy as ABC, and takes a few minutes. To do a Betfair registration, you need to visit the website and click on the join now tab, after which you fill in the information required. You then select a preferred security question and provide an answer, after which you choose the frequency limit and amount limit you prefer.
After these steps, you proceed to click on two required fields and then hit “Join Now” to activate your account, after which you confirm that you are above 18. After this is done, you then proceed to fund your account and place your first bet.
Promotions And Bonuses
Betfair offers its existing users some high-value promotions and rewards such as a chance to win up to 50% on their first accumulation (ACCA) bet of the week. Three or more accumulations on a bet slip will qualify a user for a 5% on their winning, while they get the chance to increase it to 50% by playing up to 10 accumulation bet slips.
Another Betfair bonus available to users is the fact that the site claims to offer the best odds when it comes to Premier League matches, Tennis ATP World Tour games, Cricket, and Rugby.
There is also a promotion that offers punters who place a single bet on any live selected ITV races at 3 odds. If such a bet wins, the punters receive a free bet of the same value of their stake, up to £25.
However, these bonuses and promotions depend on Betfair’s legal terms, as well as the user’s location.
Special Features
Some of the unique features available on Betfair’s esports betting site includes the Live Betting feature, which enables a user to bet on ongoing games. The live bet feature is available for over 30 sports, including football, cricket, tennis, horse racing, etc. There is also a Live Casino.
Another great feature is the live streaming feature that allows users to watch the live games that they wagered on and monitor the outcome of such games. It, however, depends on the device, browser, and network connection of the user.
There is also a cashout feature that enables punters to withdraw their earnings before all the games on their bet slip are concluded.
The Betfair Mobile App
The bookmaker has a mobile app that has all the features available on the website, as well as the games offered, allowing users to access their bets and also stake games on the go. They also have a mobile-optimized site that is similar to the app and runs smoothly. The Betfair app is sleek and super cool. Many users have given the Betfair app a high rating in Betfair reviews.
Payment Methods
Deposits into one’s account can be made via Visa, Mastercard, InstaDebit, PayPal, Neteller, UKash, Skrill, and Bank Transfer.
Withdrawals can also be made via those means.
Is Betfair Safe?
Being present in many continents, having licenses in many countries, and owning such a vast reputation means that Betfair is a safe and legal site to gamble on. No one has come up with any complaints of the site being a fake one. The site is certified and is highly encrypted by the latest encryption technology to safeguard against users losing data or money.
Customer Support
There is dedicated customer support that is always ready to answer any complaints that users may have. There is a 24/7 live chat, as well as a number to call, which is only available between 7.30 a.m. to 12.30 a.m. Users can also fill a contact sheet on the site for any issues and would be responded to swiftly.
Pros
- Great Odds
- High Number of Markets
- A high number of Promos and Welcome Bonus
- Great Customer Support
- Great Mobile App and Ease of Use of Website
- Presence of great features like live streaming and live bets.
Cons
- Reputation took a hit due to the 2010 scandal
- Some Promos are restricted to specific countries
- The Customer Support that one can talk to directly is not available 24/7
- High commission on Bet Exchange winnings
Conclusion
Betfair remains one of the biggest bookmakers in the world and has continuously strived to regain a great reputation. With their vast number of offerings, impressive odds, an incredible amount of promotions, 24/7 live chat service, and fantastic features, the site remains an excellent option for punters. Their unique bet exchange platform also offers a unique experience for punters and sets them apart from the rest.
Though there is room for improvement, Betfair can boast of being a betting site that punters would always consider.
This Betfair review, like many other Betfair reviews, rates the site a great place to gamble and earn high rewards. Give it a try today!
FAQ
How Do I Deposit And Withdraw From Betfair?
There are several payment methods for depositing money into your account. These can be accessed on the Deposits and Withdrawals page on the website.
Is Betfair Good?
Yes
What Is The Minimum Bet?
The minimum bet is £5, via the mobile app or website.
Can Someone Else Deposit On My Behalf To My Betfair Account?
No. This is not allowed. Betfair doesn’t permit third parties or any person except the account holder to make deposits.
