If a betting exchange is what you’re after, look no further than Betfair.
We’ve taken the time to go over their site and see what their strengths and weaknesses are so read on for our expert review and overall rating.
What is a Betting Exchange?
When you’re using a betting exchange you can choose to be the punter or the bookie.
If you fancy a selection to win, you can ‘back’ it like a regular punter.
This is like having a bet at a traditional bookmaker and if your selection wins, your bet’s up.
If you don’t fancy a selection’s chances though, you can ‘lay’ it – like being a bookie.
You might think that Liverpool are unlikely to beat Chelsea, so you lay them – if you’re correct and Chelsea win or it’s a draw, you’re quids in.
If Liverpool do win though, you lose and have to pay out, just like a bookie does.
The Betfair Exchange Pros & Cons
- You can act as a bookie and lay selections.
- You can back your selection at a bigger price than at the bookies.
- An unrivalled range of sports and betting markets.
- Most betting markets go in-play, allowing you bet during the live action.
- Unable to place multi bets such as Acca’s.
- Limited ongoing customer promotions and offers.
About the Betfair Exchange
Founded in 1999, Betfair has grown to be the world’s largest online betting exchange.
Today it offers betting markets on endless events from around the world, some individual markets can have millions of pounds traded on them.
The Betfair Exchange Welcome Offer
If you’re in the mood to try out the Betfair Exchange then they’ve a cracking new customer offer on the go.
When you sign-up, you can grab a £20 risk-free bet – lovely.
How to Claim the Welcome Offer at the Betfair Exchange
- Click CLAIM above to take you to the Betfair Exchange website.
- Create a new account and deposit up to £20.
- Place a bet on any market and if it’s a loser, then Betfair will refund you up to £20 in actual cash, which you can then either withdraw or use to have another bet – simple.
As with any new customer offer, check those T&C’s to make sure you’re doing everything correctly.
The Betfair Exchange User Experience
Joining the Betfair Exchange is super simple but they will ask you to provide proof of your age, so make sure you have suitable ID scanned and ready to send.
As with a normal bookie, Betfair allow you to fund your account in a number of ways, including by good old debit card.
There’s also a mobile site and a great app so you’re covered for backing (or laying) those selections anywhere – even if you’ve popped to the pub.
When you have winnings to withdraw, the cash will quickly appear back wherever you initially deposited from.
The Betfair Exchange Odds
The unique selling point of betting exchanges is that they consistently offer better odds than normal bookies and, as the most popular, Betfair leads the charge on this.
Of course, with other punters acting as the bookie, you do need someone who’s looking to lay, so on smaller events and markets you might find betting options are limited until closer to the event.
On most sports and events this isn’t a problem though, there’s usually plenty of backing and laying action to be had.
The Betfair Exchange Promos & Offers
New Customer Offer Example
- Up to a £20 risk-free bet.
Ongoing Customer Offer Examples
- £5 Free Bet Streak – every time you place a winning bet with a free bet, you get another free bet matching that stake.
The Betfair Exchange Sports & Markets
Betfair offers a wide range of sports and markets to bet on – easily rivalling the top bookies.
The main sports that Betfair covers are:
Football – as you’d expect, football is massive at Betfair with a ton of betting markets to get involved in – some Premier League matches see millions of pounds wagered.
Horse Racing – Betfair have all you racing fans sorted with great market coverage on all the UK and Irish racing plus racing from around the world 24/7.
Tennis – a staple at most bookies now and Betfair get in on that action with leading in-play markets plus live streaming so you can keep track of all those tennis bets.
The Betfair Exchange App & Mobile
Being the leading betting exchange, Betfair have a cracking mobile site and app to allow you to get your bets on quickly and securely.
You can also live-stream events on both, so you won’t miss out on any of the action if you’re out and about.
The Betfair Exchange – Our Rating
Betfair are, without doubt, the leading betting exchange out there with excellent prices available on a huge range of betting markets – perfect if you’re looking to do singles on horse racing and football.
On the flip side, it’s not possible to place multi bets such as Acca’s on the exchange and there aren’t many ongoing promotions or offers to get wired into.
With all this taken into account, we give the Betfair Exchange a rating of 4 out of 5.