- Betting exchange
- Good offers for new customers
- Best odds on all English football
- Good live stream coverage
- Less promotions and incentives for current customers
- Liquidity could be an issue on certain markets
- How easy to the eye is the Betfair website?
- Does Betfair offer competitive odds or the best odds in a certain sport?
- How good is the market coverage and selection of bets on Betfair?
- How good is In Play betting on Betfair?
- What selection of bonuses and re-occuring promotions does Betfair have?
- How easy is it to deposit and withdraw funds with an Betfair account?
- How friendly and fast is the Betfair customer service and live chat service?
- 8. Can you trust Betfair?
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frequently asked questions
I forgot my password. How do I set a new and secure password?
It’s very simple to change your password in 5 easy steps, it will only take a couple of minutes:
1. Login to your Betfair account.
2. From the top right click on ‘My Account’ then ‘My Betfair Account’.
3. Select ‘My Details’ and from the drop down menu choose ‘Account Details’.
4. On the ‘About You’ section, click ‘Edit’.
5. Enter and confirm your new password, then confirm your current password to make the change.
Why do you need my personal details?
Every person who wants to use Betfair must first open an account. Transparency is a key pillar of our business and we hold all the relevant details of all our customers. This is of benefit to you as well: all your details are securely stored so that you can quickly fund and withdraw from your account.
Each of the gambling regulators which have licensed Betfair, requires us to positively identify our customers. In addition our ability to share information (if required) under the Memoranda of Understanding we have in place with a number of sporting regulators, is reliant on our ability to identify our customers.
Why can’t I deposit using PayPal?
Customers who use a MasterCard or credit card to pay via PayPal may find problems making deposits. If the problem depositing via PayPal persists, please register your card in My Card Details and deposit directly into Betfair.
If any funds in your PayPal account have been generated by sales on eBay, you will be unable to transfer these funds to your Betfair account, as this is deemed a third party payment.
If you have, or have previously used an American Express or Amex card on your PayPal account, you will be unable to fund your Betfair account via PayPal.
How can I use my free bet on ther Betfair sportsbook?
To use your free bets, add your Sportsbook selections to your betslip that meet the terms and conditions of the offer. You’ll then be able to select to use the free bets through using the ‘Use available bonus’ toggle at the bottom of your betslip.
What are Net Deposits?
Net Deposits = Total Deposits – Total Withdrawals you have made using a particular payment method, such as a debit or credit card. Whatever funds are deposited with a specific payment such as a credit card or e-wallet, they must go back onto the same credit card/e-wallet.
This is a protection measure to ensure that, for example, if your card had been stolen and used without your consent, these measures would ensure that your money couldn’t be transferred to somebody other than you.
Positive Net Deposits = If you have deposited more than you have withdrawn to a payment method.
Negative Net Deposits = If you have withdrawn more than you have deposited to a payment method.
Example: Total Deposits of £10 – Total Withdrawals of £5 = Net Deposits of £5. This is a positive Net Deposit figure.
Can I restrict my daily/weekly/monthly/yearly loss amounts?
Yes. During initial registration you will be given the opportunity to set loss limit amounts on a daily, weekly, monthly or yearly basis. If you would like to update these details, this can be done in the ‘My Account’ section of the website when you are logged in.
Select the ‘Player Protection’ area. Within this section, select ‘Loss Limit’ in the ‘Overall Limits’ tab. Click on ‘Edit Loss Limits’. Once you have selected the period of the limit and the loss limit, enter your Betfair password and confirm.
What is Cash Out and how does it work?
Cash Out allows you to lock in a profit or loss before waiting for the event to finish.
Betfair do the math to offer you a value in real time of your current bets based on the live market prices. Using a single click you can cash out of all bets placed on a single market. Cash Out is now also available in Horse Racing win markets, for GB and Irish races. A faster refresh rate of the Cash Out quote, when the race turns in-play, tries to increase the possibility of a successful Cash Out in a very fast changing market.
What is an ‘Inactive’ account fee?
If you have not logged in to your Betfair account in over 13 consecutive months, your account is considered ‘Inactive’.
Once an account is inactive, your Betfair account balance will be charged a fee each month until you:
login and reactivate,
close your account, or
your account balance reaches zero.
Customers are entitled, upon request, to a 100% refund of inactive account fees charged to them. Please contact our Customer Service to start the refund process.
A login on any of Betfair’s products – Sportsbook, Exchange, Arcade, Casino, Bingo, Poker, Exchange Games – is sufficient to prevent your account from incurring the fee.
My bet has not been settled yet. Why not?
We aim to settle every market within a matter of minutes – usually within half an hour, at a maximum. If your bet has still not been settled for a long period the result of an event is known, please get in touch with Customer Service. We’ll need the Bet ID (found in the ‘My Bets’ section, on the top left hand side of the website) so we can raise any issue quickly to the team who look after bet settlement.
What does the term "Lay" mean and what is a Lay bet?
To lay a bet is to back something not to happen. For example, to lay Manchester United to win their match is to back them NOT to win. If you were to lay them, you would win your bet if they either lost or drew their match.
How easy to the eye is the Betfair website?
The Betfair site has been continuously improved over the years from the front splash page through to the betting interface and showing of events and markets.
The traditional colour scheme of the site with gold, black, grey and white has remained and the design and use of colours makes the site very easy to view and navigate.
Once reaching the front page, you now have a very uncluttered interface. At the top you have two menus, the top menu shows the full range of Betfair products whilst the second menu is where all the action takes place. From here you can get to any sport or market easily.
The rest of the home page has a selection of offers, a main offer and then 3 smaller sections with a further 3 offers which are a set of daily offers
With this layout Betfair are limiting your options. You can either login and start betting or you can explore the offers.
There is no cofusion and no other graphics to interfere with the main reason for being on the site…….to place a bet
Being an exchange the technology behind Betfair (both the exchange and sportsbook) is state of the art, which means the site is incredibly fast to load.
Does Betfair offer competitive odds or the best odds in a certain sport?
Of course Betfair started out as an exchange only, but now they also have a sportsbook offer which has improved in the range of sports offers since they joined forces with Paddy Power.
If we look at the exchange first then of course we know that Betfair has the highest liquidity (amount of cash being bet) and because of this the prices and odds are going to be that much better, even than their own sportsbook.
When we look at the odds and price performance on their sportsbook then they have similar margins to their sister company Paddy Power.
Without a doubt they are the best (betting exchange) for odds on horse racing and football if you are a punter who bets on single selections and of course you can trade In-play with Betfair.
How good is the market coverage and selection of bets on Betfair?
Because of the nature of Betfair being an exchange they can come up with an unlimited amount of markets, and football matches see them more often than not having well over 200 markets. At the end of the day a market on Betfair is one person’s opinion against another persons opinion, this is why it is called peer to peer betting.
Horse Racing is another huge sport for Betfair with races being covered from across the globe. You have a wide selection of racing outside of the UK and Ireland including: France, USA, Australia, Japan, South Africa, Sweden, Chile, India and others
The exchange offers win, place, forcast and a selection of match bets while the sportsbook offers the full range of multiple and combination bets such as Yankee’s, Lucky 15’s and other standard bets.
Where the Betfair Sportsbook stand out on markets is with their “EW Edge” betting where you can decide how many places you want on your bet. The more places you add then the lower the price goes on your selection. This is a great way of building out a short price win and EW acca.
With Betfair covering a huge range of sports, both the exchange and sportsbook has something for everybody.
How good is In Play betting on Betfair?
Of course the exchange platform is well known for being able to bet In-play or in running and the interface itself is very straightforward. When we move to the sportsbook the In-play interface is much more congested and not so easy to navigate. Clicking through to an individual match gives you the stats and live data on the left and the pricing and markets on the right.
Although it is easy to get to a market we found the grey, blue and white interface a little confusing.
Also on the right sandwiched between the live in play graphics and the data was a set of promos for games. For us we feel that once a player has clicked through to in play on a certain event he/she is looking to bet on that event. Other elements that have nothing to do with the event are just unwanted distractions.
What selection of bonuses and re-occuring promotions does Betfair have?
If we start with the Betfair Exchange then the bonuses are quite limited due to the nature of the platform.
– Bet £10 on the exchange and get a free £5 bet on the Betfair sportsbook.
– Pay only 2% commission on all UK and Irish racing on Tuesday every week.
– Pay only 2% commission on special offers for various sports each month.
If we then look at the Sportsbook then we have a much wider range of offers.
– Acca Boost on your first acca of the week. Get up to 50% bonus on returns.
– Bet £10 on the sportsbook and get a free £5 bet on the Betfair exchange.
– Best Odds on Football on all 4 top English leagues.
How easy is it to deposit and withdraw funds with an Betfair account?
Depositing and withdrawing funds into your Betfair account is very straightforward indeed.
Betfair have a range of payment options including cards and e wallets
How friendly and fast is the Betfair customer service and live chat service?
You can only use Betfair live chat if you are logged into an account. If you are not a member they have an extensive FAQ and help section which can be reached by clicking on help at the very top left of the screen.
8. Can you trust Betfair?
The main exchange and sportsbook are licensed by the UK Gambling Commission.
The Betfair Virtual Sports are provided by PPB Entertainment Limited, and for customers in Ireland by PPB Counterparty Services Limited. Mini Games are provided by PPB Entertainment Limited and Betfair Casino Limited, Triq il-Kappillan Mifsud, St. Venera, SVR 1851, Malta, which are licensed are regulated by the Malta Gaming Authority.
Licence Numbers: MGA/CL1/185/2004 1st July 2015 & MGA/CL1/294/2006 16th July 2012. Some games are licensed and regulated by The Alderney Gambling Control Commission, The Isle of Man Gambling Supervision Commission and The Gibraltar Gambling Commissioner, further information is displayed on the individual games where applicable. For customers in the UK, PPB Entertainment Limited and Betfair Casino Limited are licensed and regulated by the Gambling Commission. Licence Numbers: 000-039426-R-319332-007 and 000-039435-R-319329-002.
Betfair is the world’s largest internet betting exchange there is. It is one of the more recent bookmakers, forming at the turn of the 2000s by Andrew Black, and it was not until 2012 that fixed-odds betting was introduced to appeal to a wider audience. The company came together with Paddy Power in early 2016, and currently employ close to 2,000 people across the globe.
Deposit & Withdrawals
The typical shindig applies to Betfair when it comes to depositing and withdrawals, including Debit/Credit cards, but also bank transfer and PayPal. The latter aforementioned two will usually have your money withdrawn within a day, though the former can be as a long as a week so be prepared to wait. Deposit limits can be set for safe betting, as well as the clever loss limits too. The minimum deposit is a little above the usual £5, as it sits at £10, though you can withdraw any amount when it comes to Debit/Credit cards.
Betfair offers an extensive range of customer service expected these days with online betting companies. The help button is located at the top left of the page, leading to a detailed FAQ. Their social media links are compiled on the right, with live chat, telephone and email all options under the ‘Contact us’ tab. 24/7, 365 days a year too. Live chat is the usual method of choice for people with Betfair, usually due to its ease of access, compared to the telephone.
For customers in the UK, Betfair licensed and regulated by the Gambling Commission.
Betfair betting experience
Odds format & betting margin
Types of bets
Betfair pride themselves on having, in their words, ‘best odds on all English football’. This boasts refers to late December 2016 to the middle of March 2017, where it’s claimed Betfair beat out all their competitors with bets on the Premier League and the Football League. Their betting markets are vast, with the betting exchange being their main draw-in. This allows the betting scheme known as matched bets, along with wagers with other betters. Commissions are put in place to confirm deals between people.
Another strong point due to the betting exchange is their live betting, or in-play betting. With odds constantly changing, there is always something to bet/wager on through the betting exchange, alongside the standard in-play betting bookmakers offers. They also offer live streaming, which is reliable, much like that of Bet365 and William Hill. Though their attempt at virtual sports, such as virtual football, can be a bit hit and miss as it is computer determined, not a representational live stream of an actual game.
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Website URL: betfair.com
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