Pros and Cons
- All punters welcome
- Best odds
- In run betting
- Elite customer service
- No racing live streaming
- No promotions/bonus bets
- Can be quite complex
Betfair are not a bookmaker but they are a betting exchange, and with that, they are the biggest and best betting exchange not just in Australia but indeed the world.
The Betfair Exchange offers superior value, control and opportunity to the traditional bookmakers as users are placing and accepting bets against other users, not the bookmakers.
Why Are Betfair Popular?
The difference between Betfair and other bookies is that with other bookies, they set a price, you put a bet on and away you go. With Betfair, you are the bookmaker and you can set odds on a runner, usually a runner that you are willing to take on and think it could be a potential risk with other bookies.
While other betting websites are quick to restrict punters, that is not the case with Betfair. All punters are welcome, whether you are a recreational punter or a big professional punter. That is a massive positive with Betfair given that the vast majority of other betting website are very quick to restrict winning punters.
The original way to win money on the punt was to back to win. But with Betfair, you can back to lose, with Lay Betting being a very popular form of punting with Betfair. It is the only wagering platform in Australia that offers Lay Betting, and that is a form of betting that is very popular with professional punters who are keen to risk a runner.
Why We Like Betfair
The Betfair SP for racing is the best price available across all wagering platforms, so if you want to back a runner and get top odds, the place to head to is Betfair and their SP. It’s their version of ‘Best Tote’, but given the way Betfair works, the odds for the Betfair SP are generally greater.
The payouts, whether it be winning bets or withdrawals, are quick. It can be quite frustrating waiting for a bet to be credited to your account, or a withdrawal to be processed, but thankfully with Betair, the response time for those two factors is just about top shelf across all betting websites.
They lead the way, comfortably, when it comes to expert analysis, whether it be racing or sport. For racing, there is daily previews/tips on race meetings from some of the sharpest minds in racing, and that is the case with key spots, notably the NRL and AFL. For punters who aren’t entirely sure what to back, the tips available are very good.
Why We Don’t Like Betfair
If you are a punter that likes to bet with the assurance of bonus bets, then Betfair isn’t for you. Betfair have very minimal promotions in that regard and trying to entice new punetrs, recreational punters, they are always going to struggle so long as they continue with no bonus bet offers.
Given how focused they are on racing, you’d assume they have live streaming of racing, both domestic and overseas. Betfair doesn’t have live streaming for racing and that is something that should be looked at in the future given how dynamic the betting is on the site, being able to watch at the same place would be ideal.
If you are a new punter starting out with betting, Betfair will take time getting used to because it can be quite complex and difficult to understand how it all works out. As stated earlier, it’s an exchange and not a pure betting website, so it’s not for everyone and if you do want to get involved, get the pen and pad out, and learn how it all works.
6 Reasons To Bet With Betfair
1. Best Odds
Given there are no set odds and that it is an exchange, the odds available are the best in Australia across all betting websites, which is a big tick to try and entice new punters.
2. Customer Service
The customer service is elite. All options are available and the response time is very quick relative to their rivals, plus those who are on the customer service team know what they are talking about. There are some betting websites where their customer service makes you think they put an ad in the local paper to find someone.
3. In Run Betting
Betting live/in run has become more and more prevalent in recent years and Betfair comfortably lead the way in this area. Sportsbet and Ladbrokes have got live betting as well, but nowhere near the quality and depth that Betfair is, where serious money is invested, ensuring potentially decent odds if you have a sharp eye.
4. No Betting Limits
There is no limit as to how much a punter can bet on a single runner/race, which sees the biggest and best punters in the world bet heavily with Betfair, with millions invested. The majority of betting websites are quite restrictive when it comes to betting limtis but thankfully that’s not the case with Betfair.
5. Expert Tips/Analysis
The expert tips and analysis is heads and shoulders better than any other betting website in the world. Some of the best and most respected betting experts are in the Betfair stable, whether it be racing or sport, and not just in Australia, with experts with an eye towards overseas events also with Betfair.
6. Payment Options
It’s good to have a wide range of options when it comes to depositing and Betfair have plenty. There are several options for depositing for those wanting to bet with Betfair, to go with several withdrawal options. The waiting time for a withdrawal is very good so in this regard, Betfair get a big tick.