Gone are the days when a Free bet or Welcome offer could be a deciding factor in which new bookmaker you might choose to register with.
If you are looking for a Betfair Free Bet, you are very much out of luck as the advertisement of free bets, bonus bets or any other inducement to gamble has been banned.
It's not a bad thing to be honest as know you will have to select your online bookmaker on merit alone.
This Betfair user review gives you a chance to find out more on what they offer, what point of difference they have to other Australian bookmakers.
If you would like to sign up to Betfair, hit the link below, or read on to see if they are the online bookmaker for you.
How to deposit to Betfair
Betfair offers punters a range of different depositing options to fund their account including Credit Card, Skrill, POLi, BPay, Neteller and Bank Transfer.
Currently, the quickest options to deposit and withdraw are Neteller and Skrill.
BPay and Bank Transfer deposits can take up to 5 days to reach your account.
You can deposit with Visa and Mastercard but cannot withdraw to these.
Simply select the deposit method which best suits your needs and enter the amount you would like to deposit.
Note that different deposit methods have varying minimum and maximum deposit amounts.
After you have entered the amount you would like to deposit click on the yellow Deposit button.
If necessary follow the prompts from the service you are using to deposit until you are back on the Betfair page and your deposit has been confirmed.
|£2||0||Maximum 24 Hours||0.00|
|£2||0||Maximum 24 Hours||0.00|
Betfair is the largest betting exchange in the world. Unique in how you can bet on the platform no Australian punter should be without a Betfair Exchange account, especially if you bet on horse racing where the Betfair prices will more often than not, outperform best tote.
Licensed by the Tasmanian government, Betfair moved into the Australian market in November 2005 with the peer to peer exchange allowing punters to bet against each other on a huge range of sport and racing markets.
|Sports You Can bet on at Betfair|
|greyhounds||Horse Racing||MMA||Motor Sports|
|Netball||Rugby League||Rugby Union||Snooker|
|Soccer||Tennis|| || |
Betfair originally launched in the UK in June of 2000 and is now the biggest betting exchange in the world with more than a million active customers.
After introducing its Australian brand in 2005, Betfair Australia sold a 50% share to Crown Resorts in 2014.
The basic model behind Betfair is they take a small commission from punters winning bets.
Meaning unlike bookmakers they are purely there as an arbiter between punters and whether you win or lose doesn't affect them - they just take a small percentage from winning punters bets.
Given that fact, you don't have to worry about being limited or banned from Betfair.
Because Betfair simply takes a commission from winning bets, you'll never get restricted or banned for winning too much!
What is the difference between a bookmaker and an exchange?
Most punters will already be familiar with betting with bookmakers as they make up the overwhelming majority of betting agencies available to punters.
A bookmaker works very simply with the bookie setting a price for each selection and you can simply choose to bet on whichever selections you like at those odds.
An exchange, however, is a little bit different where rather than betting against the bookie, you are betting against other punters.
You do not know these other punters, they are just other Betfair users who have taken a different opinion to you.
You don't bet with a bookie on Betfair. You bet against someone else like you
When betting with a bookmaker you only have the option to back an outcome.
When you back an outcome you are simply betting on that selection to win. So if you back Richmond against Carlton, you are betting on Richmond to win.
Betfair also offers punters the opportunity to lay an outcome. Placing a lay bet allows the punter to act as a bookmaker and is betting against that outcome happening.
When betting through an exchange like Betfair you are simply either accepting odds from another punter or offering odds for another punter to take. Betfair just operates as the platform between bettors and takes a small commission from the winning punters' profits.
If you think something will not happen, you can let anyone who thinks it will bet with you
Step 1: Join Betfair and login to your account
Step 2: Select the market you want to bet on by either following one of the Quick Links or locating your sport by using the A to Z menu button in the sidebar on the left of your screen.
Read on and I will explain what the blue and pink boxes mean.
The blue squares represent the back side of the market where you can bet on which team you think will win the match.
You will see the odds, maybe 2.46, + The $ value located under each set of odds is the total amount currently available to bet at those odds.
The pink squares represent the lay side of the market where you can bet against a team winning.
The pink odds may be 2.48. This is the shortest current odds currently being requested by another punter. The $ value located under each set of odds is the total amount currently available to lay at those odds.
Step 3: To place a back bet simply click the blue back box with the odds you wish to take
Step 4: Enter your stake for the amount you would like to bet and click place bet. Note you will only be able to bet as much as other punters are offering at those odds.
Step 5: If your bet can be matched at the odds and amount quoted it will be confirmed and placed on your account.
Because of the nature of exchange betting and the low margins, Betfair odds usually outstrip traditional fixed odds bookmakers.
Betfair covers thousands of different markets across sport and racing every day from all around the world.
As an exchange, they offer extremely low margins, meaning punters can usually get set at the best odds available.
Another added benefit of betting with the Betfair exchange is that if your desired odds aren't currently available to bet on, you can request the odds you would like and just wait and see if another punter accepts the other side of the bet.
Betfair is a bookmaker with live streams of a number of sport and racing events. To view the latest live vision just go to Betfair’s Live Stream page and click on the event you would like to watch from the listed schedule.
Betfair usually have a wide choice of events available for live streaming 24 hours a day!
With Betfair live streaming you can watch a wide range of sports including horse racing, greyhound racing, soccer, tennis, basketball, cricket, snooker and many more.
The betting app is an awesome mobile betting option.
Please note that live pictures displayed on Betfair live streaming can be delayed by 2-5 seconds. For some sports, the delay may be even longer.
Betfair live streaming is available to all members with a funded Betfair account who have placed a bet on the event they wish to view.
✅ Very good odds
✅ The best market percentages
✅ Flexibility to choose your odds
✅ Winning punters never restricted or banned
❌ Can be difficult for new users
❌ Smaller leagues and race meetings can lack liquidity
Betfair really helps your get involved with exchange betting, making it easy and clear to understand how it works in more detail
WAS AN OLD STYLE PUNTER UNTIL I DISCOVERED BETFAIR, SO MUCH IN RUNNING BETS TO BE HAD ALSO THE CASH OUT OPTION
Great website, easy to use, very good odds
Been using them for over a year now. Especially for football betting they are easy to use and the score notifications for games are very quick. Would recommend them to anyone
Can't always find a market and the commissions can take a right chunk out of winnings. Other than that, you will always make more than a bookie punt like for like.
None of our users rated this as 3 out of 5 stars.
None of our users rated this as 1 out of 5 stars.
Before you can start placing bets with Betfair and taking advantage of their great odds you will first need to register and create yourself a free account.
This is a very quick and simple process where you will be asked to provide some personal details to ensure your account is safe and secure.
Below we will run you through a simple step by step guide on how to sign up with Betfair.
Step 1: The first thing you need to do is visit the Betfair site and click on the Join Now button.
Step 2: You will then need to register for your Betfair account where you will be asked to enter some personal details such as your name, address, date of birth and contact details.
Step 3: After you have completed all of your details and pressed the yellow button to confirm your account, you will then be ready to make your first deposit to your Betfair account and start betting.
There are a number of different methods to fund your Betfair account which are included in the deposit section above
You can use Betfair Australia legally in Australia since they have been established and operating with a Tasmanian license since 2005. Betfair Australia remains the only operating betting change in the country too, with a total monopoly on all exchange betting activity.
Betfair is different as you are not making your bets directly with them. Betfair simply provide a platform for you to either back or lay bets, and take a small commission from any winning bets in a market. The other major difference, is given that there is no bookmaker edge built into the prices on offer, you will invariably find larger odds to bet with on Betfair
Betfair do no need to close winning accounts as given the structure of the exchange platform, the more you win, the more commission you pay them and the more money they make of course. So unlike other online bookmakers who may restrict stakes or close accounts if you win too much, this is something that you will never find with Betfair. The one caveat is if there is any suspicious betting activity when accounts can be suspended pending an investigation.
The only restrictions to stake on the betfair exchange is governed by how much money other players are willing to risk. Given it is other players money that you would be betting against, it is entirely down to them. That said, you'll not find your stakes limited in any other way and there will be more than enough money waiting to be matched on almost any event and especially larger events.