Summary: The reason why so many punters are choosing Betfair is their famous betting exchange which allows you to take advantage of the fluctuations in the market and earn money without risking it.
When we talk about Betfair we aren't only thinking on traditional fixed odds sportsbook because in addition to it they also offer exchange concept which allows players to either bet on outcome in the normal way (BACK) or bet against outcome (LAY). Bets are matched between bettors with opposing opinions regarding outcome. Selection of sports events is huge so everyone will find something to bet on with Betfair's average odds usually much better than at majority of bookmakers. Only miss regarding exchange service is 5% commission that customers need to pay on their winnings compared with their direct competitors like Betdaq where it is 3%. OK, to be fair we must add that you can actually get a lower commission than at Betdaq. For example, if you earn 49,000 Betfair points they will give you 40% discount on the standard rate. In other words, your new commission rate is 3%. To get a maximum discount and a 2% market base rate punters will need to earn more than 150,000 points. The website has a nice design with orange as the predominant colour and with easy to use interface, you should have no problems finding what interests you. The top left side is reserved for help section, the middle is equipped with the event search box, the top right side is where you can find open an account button, whereas the start-up menu is right underneath it. This is where you can browse through the desired sports and games, whereas the centre of the homepage is where you can find the latest promotion offers. Clicking on Sportsbook, Casino, Poker, Exchange Games, Arcade, Macau or Virtual Sports will take you to the page specially dedicated to one of the aforementioned sections of the site. You can choose from a number of languages at top right or at the bottom of the page and basically the homepage boasts everything you need to know about betting exchange. The website looks extremely easy to navigate although you can be frustrated with the amount of clicks needed to reach the desired selection. In order to start placing bets, you first need to deposit the money to your account and this can be done very quickly using a variety of deposit methods. We won't go into detail here about banking because you can find out about limits and fees in the bottom of this review. The betting procedure is something you need to pay special attention to as Betfair is one of few operators that offer exchange betting, which means they only act as a mediator between the two players making bets. You can only bet on singles or the parlays, which are basically combos offered by the bookies. You can either back (bet on something happening) or lay (bet on something not happening) a bet and it is a good thing that this company offers their customers a betting demo, which explains how this actually works. Once you have placed a bet on a game, you will immediately see how much money you can win or lose depending on the outcome. Considering the fact that Betfair odds change more frequently than at standard sportsbooks, you can make a good profit by trading, which means you get money regardless of the outcome. In order to be a successful trader, you have to back an outcome at higher odds than you have layed the same outcome, but you should also be aware that Betfair is entitled to commission from your every winning bet. In order to fully understand this type of betting, we advise you to carefully go through the betting demo. Betfair is a UK-based bookie and therefore have a very good coverage of sports typical for the island such as football (soccer), horse racing, greyhound racing, snooker, but you will also find plenty of other sports and most of the European leagues on offer. They usually have enough markets on offer, but this mostly depends on how much their customers are interested in certain matches, as they are the ones creating the odds after all. As expected, we have found enough markets on games from big European leagues, but not so much on games from those minor leagues. The quality of odds is something that attracts a lot of customers to Betfair as their odds are almost always the highest on the market, but you should be wary as they are constantly changing. You should, however, remember that 5% provision on all the winning bets, which can become lower once you have collected enough points. Although there is no live chat support you can contact them by phone or email and they are extremely helpful and prepared to accommodate your needs 24 hours a day. Regarding reliability, this is a highly reliable company operating under the strict UK laws and with an annual turnover in the excess of £8 billion, they are unlikely to risk their reputation for a couple of hundred pounds. Therefore, your funds are completely safe with them.
In overall, Betfair offers a new dimension in the betting world and you won't know what you are missing until you have tried them out. www.betfair.com
Paddy Power Betfair plc
Paddy Power Betfair Waterfront Hammersmith Embankment Chancellors Road (access on Winslow Road) London, England W6 9HP United Kingdom