HistoryBetfair sports is the world's largest betting exchange. The company is based in Hammersmith, London. The site was launched in 2000 and quickly became the largest bet exchange, it became very popular in short time. Click here to visit Betfair's promotion page
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Review
Betfair sports is the largest and best betting exchange. The odds are average 15% better than the normal bookmakers.
How does Betfair work?
Just as eBay matches buyers and sellers via the internet, Betfair matches up customers who want to strike a bet. Betfair accepts a bet from you the moment it has someone who has the opposite opinion. Every second of every day, someone somewhere is placing a bet on Betfair sports .
For example someone in the UK might want to bet 100$ at evens(2.00) that Manchester United will beat Chelsea. Someone in Australia might think that Manchester United will lose so he puts 100$ down at evens (2.00). Betfair matches the 2 bets at the odds requested by the punters themselves. Betfair holds money in separate account until the final result is confirmed and then puts winnings into the customer's account.
The Benefits of using Betfair are:
Better odds- As you are betting direct with fellow punters at Betfair there are no hefty bookmakers' margins resulting in odds that are on average 20% better.
Most of the online bookmakers reduce your stakes or close your accounts if you are successful. In Betfair your stake will never be reduced. They never close winning accounts. There are no limits. You can bet without worrying for limits.
Live in-play betting- You can bet almost on every single event live.
Safe and secure- Betfair sports has over 100 000 active customers a month placing over million transactions a day, making Betfair the World's number one betting exchange. The transactions in and out of the account are fast and secure. You can deposit or withdraw at any time.
Watch live video of many events(mainly football and tennis)
Credibility- Betfair were awarded the Queen's Award for Enterprise in the Innovation category in 2003. Betfair hold Memorandum of Understanding's (MOU) with multiple sports organisations around the world helping to ensure fair play.
Back and lay- The most important benefit. When you "back" a selection (be it an individual, a team, horse, dog or other), you are betting that it will win. This is just like betting with conventional bookies. When you "lay" it, you are betting against it winning. For example, if you're betting in a market on which team is going to win the Premiership and you lay Man Utd, you offer odds to other punters who wish to back Man Utd. If Man Utd don't win, then you pick up the backer's stake. If Man Utd win, then you pay out. This is what bookmakers traditionally do. Back and lay creates many new possibilities.
| Languages | Payment Methods | Sports | Currencies | |
|---|---|---|---|---|
| English | Credit/Debit card | american | football | AUD |
| Czech | Neteller | australian rules | baseball | CAD |
| Dannish | Moneybookers | basketball | boxing | DKK |
| German | Paypal | chess | cricket | EUR |
| Greek | Ecocard | cycling | darts | GBP |
| Finnish | ClickAndBuy | financials | golf | HKD |
| French | Webmoney | gaelic games | greyhounds | NOK |
| Italian | Bank Transfer | horse racing | ice hockey | SEK |
| Norwegian | Cheque | martial arts | motor sport | SGD |
| Polish | netball | pelota | USD | |
| Portuguese | poker | politics | ||
| Russian | rugby | snooker | ||
| Swedish | soccer | tennis | ||
| Turkish | trotting | volleyball | ||
| Chinese | water polo | |||
