BetFair Bookmaker Review
BetFair Free Bet Promotion
Betfair is arguably the number one betting exchange on the web. New customers opening an account with Betfair and betting £25 will recieve a free bet of £25!
Free Bet Promotion
Company History
Betfair was launched in June 2000 and has since become the largest online betting company in the United Kingdom and at time of writing is the largest bet exchange in the world. With over a million punters currently using BetFair the website is certainly a hive of activity.
Betting Exchange / Matched Betting
Betfair are a different type of bookmaker than your traditional fixed odds bookie. As a bet exchange, Betfair allows punters to bet at the odds set and requested by other users rather than odds set by the traditional bookmaker. In this situation gamblers can place ‘Back’ bets and ‘Lay’ bets.
Back Bets – the traditional bet – betting on a selection to win
Lay Bets – betting against the selection, that the selection will not win
Punters therefore offer odds for other punters to take up. By eliminating the bookmaker from the equation the bookies margin is lost and so this is why you often get much better odds at Betting Exchanges like BetFair. It can sometimes be said that a Betting Exchange is a bit like a stock exchange in that the bet and lay options are similar to the buying and selling of shares. BetFair charges a small commission for this service but the odds users get are still much better on average.
See our Matched Betting section or Betting Exchanges section for further information.
Usability
Open 24 hours a day 7 days a week, the website is accessible in many languages and has a fresh and appealing user interface. All the different sports betting markets can be accessed from the main navigation menu. There are quick links to the current odds being offered by other punters and you can customize your display to view Back bets, Lay bets or both depending on your fancy.
To the punter used to placing bets with traditional bookmakers, the system can seem initially slightly daunting. BetFair have made it much easier for users to understand by offering a video tutorial of how the site works and how to get started with Back bets and Lay bets so it is very easy to get started.
Overall BetFair offers some great online betting opportunities. You can bet in the traditional method and get better odds to boot, or if you fancy your hand at being the bookmaker you can try laying a few bets for other punter on selections you think will lose and rake in the money that way.
BetFair also offers online poker, casino and online games if that is your fancy. There is also a medium by which to chat with gamblers and discuss tips on how to make your fortune!