Betfair is an online betting agent which focuses sports betting online. With Betfair betting, users can place bets on various sports events including horse races, football, tennis, golf, cricket and more online from the comfort of their own home.
The company’s founder Andrew Black had the idea to create the betting exchange platform in 1998. First, the company The Sporting Exchange Limited was created. In 2000 Betfair was featured at The Oaks, a famous horse racing event.
In addition to bets on horse races, Betfair allows its users to bet on football, tennis, cricket, hockey and many other sports. Later the company partnered with Racing Post publishing results of horse races and details of horse pedigree. Among other acknowledgments Betfair won Queen’s Award for Enterprise and became involved in initiatives to protect the image of horse races and to encourage responsible gaming.
Today Betfair is one of the leading and most extensive betting platforms in the world with more than 4 million clients and an estimated monthly turnover of more than £300 million. Betfair has a decent reputation among online gambling websites because its odds are calculated based on wagers made by users. This way, Betfair can offer greater odds, sometimes up to 20 percent higher compared to other online betting platforms. We will discuss this shortly.
Speaking of user experience, Betfair has developed an easy-to-use website with attractive navigation and clever Betfair betting sports content that attracts new users and looks pleasant to the eye of existing users. When the new user signs up they receive £25 bonus. The website also offers £200 reward for any new registered users directed to online betting or casino sections of the website.
Navigation on Betfair betting is very intuitive and the website is very easy to get around with minimal effort. You can see the list of all major sports events on one side from where you can appear on an individual page of a competition where you plan to make bets. You can also compare odds placed on various sports events and choose the event that looks most rewarding to you.
When it comes to account management, Betfair has certain limitations on the country of the user and the amount they wish to pay to make bets. This way, Betfair helps prevent compulsive gambling and keeps users within certain limits on how much they can afford to bet. To explain their terms and conditions of responsible betting the website clearly lists the ground rules on each page. This helps ensure that all players enjoy reliable and trustworthy gambling policies.
Customer support can come handy even for the most experienced users, and Betfair has unparalleled support and guidance available at each stage of betting process. Gamblers can also find useful facts and tips on the website, as well as advice how to control gambling and prevent it from becoming an addiction.
At the first sight Betfair betting looks just like a typical online bookmaker or a betting service, but in fact Betfair is a lot more different in its approach to online betting. It evolved into a digital betting exchange where regular people create own odds and wager against other users. As a result, odds are significantly higher than on other online betting websites and users can also generate more money by trading odds online.
It works in the following way: when you choose a team or a player to place bets on you are betting against another user, possibly thousands of miles away, who has bet on a competing team, another horse or another athlete. It doesn’t matter if you are betting on a final score or a winning team – you are betting against a living person, not a machine. This personal touch is probably one of the reasons for success of Betfair. All the company does is offers games, events, matches for people to bet, then to collect the bets, track the event’s results and pay the winner his rewards, after taking a small fee. This makes Betfair different from traditional bookmaking service because they earn their profit from people winning, not losing.
A great unique feature is a live Betfair sports betting option when you can make bets on a game that is already in play. In this section you can see competitions that happen live in many different countries. The user can visit the page of this particular competition and explore various betting and trading options. To participate in online poker tournaments registered users have to download a small application from Betfair but the main attraction for most users is of course the ability to bet on sports.
As you can see, the essence of business model at Betfair betting makes anyone feel like a bookmaker for a day. This way, anyone can bet against different events or as many events as they like. With Betfair, you get more ways to earn money. For example, while other horse racing bookmakers make winners only whose people (or one person) who bets on a winning horse, with Betfair users can bet against all of the losing horses as well as the horse who you think will win the race. Win-win!
Betfair betting allows you to explore multiple tactics and try all of the available advice but some of the most experienced players agree that before you place a bet you must be familiar with a particular Betfair sports or event. For example, you may like tennis and have deep understanding of the sport and know strengths and weaknesses of its top players. This gives you an opportunity to place knowledgeable bets with better understanding what makes sense and what doesn’t.
After creating an account on Betfair, you should not make a jumpstart into the first available game and place your hard-earned cash on something you vaguely understand. Instead, spend some time looking around and learning how to place a bet. Make use of detailed guides and trial games. It also helps to understand what are your financial limits and how much you can afford to lose in case things go bad.
Your betting strategy depends also if you are placing bets on an event that is currently happening or on some event in the future. Some events do not allow placing bets when the game is in progress. You should study this information before you proceed.
Another great advantage of Betfair betting is trading. During this process a sports event, for example, a horse race, is “traded” in such way during the game that guarantees a financial gain regardless of the result. A more advanced strategy is “odds scalping” during which players instantly trade bets for profit. There are many ways to win, even so modestly, at Betfair thanks to the company’s commitment to fair gambling practices, no matter if you bet on races, sports, or card games.
This business strategy sets Betfair apart from traditional online bookmakers. Because the platform allows anyone to invent and post their own odds, the platform gained popularity among casual players who do not indulge heavily in betting. From the day of its foundation Betfair sports betting platform became a phenomenon in sports betting. Before this concept was invented, players could predict the chance of winning based on the odds offered by the bookmaker, but now Betfair makes the playing field even by offering a chance to predict a loss, too. This strategy doesn’t have a built-in profit for the company and this makes the players feel like they are not being used for profit. There are real people on both sides of the bet and if one loses, another one wins, and the company gets a small fee for being their agent. So Betfair is actually a betting exchange rather than a traditional betting service.
This principle of providing a transparent space for betting against each other puts Betfair in the same working mode as a stock exchange which offers its participants certain advantages over typical sports betting shop.
- Since the middleman is eliminated, odds are generally higher which is a plus for players.
- Odds depend on the popularity of the event and not on the profits of a bookmaker, thus diminishing chances that odds can be manipulated by shrewd bookmakers.
Responding to the growing market trend Betfair has expanded it’s online gambling offerings. Now players can play poker and other card games, as well as try their chances in roulette. Players can also play arcade games such as Monopoly. To suit needs of travelers and busy people all betting options are available on mobile devices, too.
Is Betting on Betfair Safe?
With millions of users placing their bets daily and thousands of transactions completed, safety of the betting platform is a vitally important issue. With its more than a decade in business Betfair has a very low number of complaints when users could not make deposits, place bets, or withdraw their earnings. User guides and customer care is always available and Betfair helpful responses are almost instantaneous. Email and phone support are always timely and thorough.
Betfair betting platform and betting exchange are highly trusted by users of all levels of experience. During the first sign-up users can choose any of the 10 currencies they wish to place bets on. Since Betfair is a British company, their default currency setting is the Pound Sterling (GBP). It’s worth to keep in mind that Betfair is incorporated both in the United Kingdom and Tasmania. The website’s language is English but many other languages are also available.
As we already mentioned, Betfair allows its registered users to place bets or trade odds on virtually any event. Of course, betting on sports events, horse races and online games are most popular, people like to place their bets on completely out-of-sports events such as outcomes of dancing contests or even presidential elections. If you have a deep knowledge of the subject you can place bets on the entire team playing during the whole season or place bets on your favourite horse.
A great advantage of Betfair is its commitment to providing a personalized betting experience. You are not betting against a machine which can leave some people feel that the odds have been manipulated. All users bet against each other, although identities are not revealed. All you need to know is that you have one opinion who the winner is going to be, another person has a different opinion, you are both prepared to place a certain amount of money at stakes, and the game begins. This simplicity, as it seems, is what makes Betfair attractive to millions of players. The users have nearly limitless freedom to place as many bets or combinations because Betfair, in fact, encourages as many wins as possible. The more you win, the more money they make, because all the money come from players, not from some hidden fees.
We also like the fact that there are not secret tactics or cheat sheets in the whole Betfair sports system. Even when some people hope to find a trick and beat the system, with Betfair that’s simply not possible. That’s actually the good news for the honest better who can now risk their money knowing that there are no codes or loopholes allowing fraudsters to feed on the average joe. yes, there are days or weeks when you won’t win but with discipline and the preparation comes success.
As a summary, we believe that Betfair offers a great betting experience when the players are allowed to set the rules and call the odds without paying to the middleman. This great twist on a traditional betting mode of operation doesn’t limit the creativity of advanced gamblers who like to devise their own strategy. We appreciate the fact that the company strives to promote a responsible attitude to gaming and betting and educates users how to improve their earnings.