The Betfair exchange shook up the world of betting when it was introduced at the turn of the century. The exchange didn't only allow punters to bet against each other but it had long lasting impacts on the industry as a whole. They remain a bookmaker who are focused on the future and you can find out exactly what they have to offer in our Betfair review.
Betfair are one of the few companies to truly offer something game changing in the world of betting. When Andrew Black and Edward Wray founded a betting exchange in the year 2000, they caused such a stir amount the traditional bookmakers that some tried to get them shut down.
The argument was that by allowing customers to bet against each other and set their own prices those customers were effectively acting as bookies without being licensed as such. Thankfully for punters, those objections were not upheld by the authorities and Betfair grew into the biggest betting exchange in the world.
In more recent years Betfair have broadened their appeal beyond the exchange by introducing a sportsbook and casino, games and poker products. The company took another big step forwards when merging with Paddy Power in 2016 to form a new company – Paddy Power Betfair.
Now is as good a time as any to open up a new account with Betfair as they have a welcome bonus worth up to €100. To take advantage, all you have to do is navigate to Betfair through one of the links on our site and open a new account making sure to enter promo code ZBBC01. Then it's time to get betting. Place five bets of €10 or more on the Betfair sportsbook at odds of 1/2 (1.5) or more and Betfair will credit your account with a €20 free bet. This process can be completed five times in total for a maximum of €100 in free bets.
When you head to the Betfair site to view the terms and conditions of the welcome bonus you'll doubtless see details of their various promotions for current customers. There's the ‘Acca Boost' promotion which offers you up to a 50% bonus on your first accumulator of the week providing they have three sections or more. You'll get a free bet of up to €25 when you back the winner of any horse race shown live on ITV at odds of 3/1 or higher and there are a host of enhanced odds offers on the biggest football matches of the week.
Every bookmaker has a tough job on their hands managing their website. They are incredibly complicated operations with thousands of markets live at any one time and a massive amount of data to stay on top of. The job is even tougher for Betfair as they are managing both the exchange and sportsbook. The task does get on top of Betfair on occasion with reliability problems frustrating customers at busy times but their downtime is being lessened all the time.
Away from the backend problems, the Betfair site looks great. It's based on their signature yellow and blue and set out in an intuitive way so it doesn't take long to get to grips with the way it works. Navigating through the different sections of the site and the huge number of markets is easier than you'd expect and event pages come with a host of helpful information.
Perhaps the biggest impact that Betfair had on the world of betting was by showing punters just how big the margins the high street bookmakers were operating with. The odds on the Betfair exchange were so much bigger so consistently that the bookies were basically forced into providing better value.
Betfair's latest advertising campaign makes a big play of the value found on the exchange and they also work hard to provide fair value on the sportsbook. That is all the more impressive given the sheer number of markets available at any one time on Betfair. The #oddsonthat feature which allows punters to request their own bets on the sportsbook further increases the options available.
Betfair's ‘Live Video' service provides live streams on a host of different sports including all Irish and UK racing and football from major European leagues. To watch live racing you need to have a bet on the specific race that interests you but sports such as tennis and football only require you to be signed in.
Betfair have always been a technology company disguised as a betting company. It's no surprise then that they took mobile betting very seriously earlier than most bookies and that their mobile site is responsive and feature packed. The Betfair mobile apps from both sportsbook and exchange are popular and allow users to quickly get a bet on wherever they are on both Android and iOS devices.
Cash out is another innovation that Betfair had a major hand in bringing to the betting industry. One of the benefits of the exchange is the ability to trade your positions and by introducing that same level of control to the sportsbook, Betfair handed punters yet more control. You can view your current positions on singles and multiples with just the click of a button and then decide to cash your bet out completely, partially or not at all.
After the 2016 merger, Paddy Power Betfair was set up as a Maltese company. They hold a license to operate as a bookmaker and gaming company through the Malta Gaming Authority but are also licensed in every country where they have customers including the Republic of Ireland.
Those licenses ensure that Betfair have practices in place to treat their customers fairly and in line with their terms and conditions which can be read on the Betfair site. The site also contains details of the security measures taken by Betfair to ensure customers' information and funds are kept safe.
Betfair have partnered with several gambling charities and bodies offering support to punters who get into trouble as well as independent bodies who settle disputes between Betfair and their customers. It's rare for things to get that far though especially as Betfair's dedicated customer service team can sort most problems after you contact them at through phone, email, live chat or social media.