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Betfair

betfair - 100BEST FOR...ReasonAPPLY NOW
www.betfair.com Betting Exchange Betfair is the world's leading betting exchange. Being a betting exchange, all bets are placed by users, who either want to bet for a selection (back it) or against it (lay it). This makes Betfair truly a pioneer in the online betting field - technically not a bookmaker but a betting exchange, it ranks as one of the best online betting choices.  apply to Betfair

 

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Who are betfair

Betfair is currently the world's leading betting exchange. It is a betting exchange, as opposed to a traditional bookmaker, therefore it provides a market place for buyers (backers) and sellers (layers) of bets to trade, and generates its own revenue through a commission on the winning bets. The popularity Betfair was able to achieve enable the markets offered to be sufficiently liquid to out compete a number of the established bookmakers.

 

Why choose betfair?

1. It's an exchange, so you can back and lay the same market with ease. Not only this but Betfair is smart enough to know how much you will win on a given market once you have made your first bet. So lets say you backed England to win the Euro's for £100 at 10 to 1. Betfair knows that you will win £1000 is this happens. So, if England reach the final, and go down to 2 to 1, if you want to lay some of your bet, Betfair knows that you will win £1000 if England win, so at 2 to 1 you can lay up to £500 of the bet, without having to put any more funds in your account. So you could lay £300 at 2 to 1 meaning that if England win, you win £1000 and payout £600, netting £400, And if England lose, you lose your initial £100 bet, but win £300 from your lay, netting £200. Win-win betting. This is arguably what made betfair so popular initially with individual punters. The opportunity to derisk their own bets easily.

2. In-running betting market is often very liquid, and therefore again you can back and lay easily, and take your betting experience to a whole new level.

3. Unlimited betting limits. It's an exchange, so if there is £1m available in the market to back at 2 to 1 say, you can make the bet, as it's the aggregate of all the layers you are betting with, not Betfair. In fact, Betfair just want more bets place, as the more bets place, the more commisions for them.

4. You can set your own odds. If you want to throw out there that you would back Spurs to win the league at 200 to 1 at the start of the season, you can place this on the market. If there are better odds for layers to take, they will take them, but if not, they might take your bet.

 

Once bad thing to say about betfair though, is that the 5% commission on winnings is starting to see some competition from the likes of BETDAQ and smarkets. It will be interesting to see how long betfair can continue without matching their competitors, or at least lowering their commissions, because they are reliant on the market share to enable liquidity in their markets offered.

 

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betfair - Withdrawals, Deposits & Currencies

 
Accepted currencies:

UK Sterling, Euro, US Dollar, Hong Kong Dollar, Australian Dollar, Canadian Dollar, Danish Krone, Norwegian Krone, Swedish Krona, Singapore Dollar

 
Withdrawals & Deposits:
Withdrawal/Deposit MethodDeposit FeesWithdrawal Fees
Delta, Solo and Maesto Debit Cards

Free

Free

Visa Electron Debit Card

Free (if UK issues) Free
Visa and Mastercard Credit Card 1.5%

1 free every 28 days

Paypal 1.5% Free
Neteller Free (promo period) Free
Moneybookers (Recommended) Free

Free

Click and Buy Free (promo perfiod) n/a
Bank Transfer Confirm with bank Free (£6 for same day)
Western Union Varies n/a
Cheque Free Issued free

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betfair - Key stats & facts

Website:www.betfair.com
Location England
Email This email address is being protected from spambots. You need JavaScript enabled to view it.
Physical Address Waterfront
Hammersmith Embankment
Chancellors Road (access on Winslow Road)
London, England W6 9HP
United Kingdom

 

betfair - History

Established in 2000 by Andrew Black and Edward Wray. The company's unique modus operandi won the founders a number of awards including Emerging Entrepreneur of the Year and the Queen's Award for Enterprise in the Innovation category.

In April 2006, the founders sold 23% of the company to Softbank, valuing the business at £1.5 billion. Full flotation on the LSE followed in October 2010 at a full market valuation of £1.4 billion.

In October 2006, Betfair launched its online casino including its famous 'Zero lounge' and relaunched Betfair Poker. In 2007 Betfair further diversified into financial trading by launching its Tradefair platform.

Betfair has also faced controversy in their short history. In 2011 during a horse race in Leopardstown, an automated customer (robot) malfunctioned and continued to lay a horse at 28-1 as it was crossing the line. Even though the client only had £1000 in their account Betfair continued to accept bets which resulted in a maximum liability of £600 million.  This led to Betfair voiding all bets.

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Risk Warning

Online gambling is illegal in some Jurisdictions. It is your responsibility to check your local regulations before gambling online. Betting-Bible.com takes no responsibility for your actions. Please ensure you fully understand the risks of Spread Betting, CFD trading, and Sports betting before you continue. For more information, please read the full risk warning

 

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