Betfair Review AU
- Link with sportsbook and betting exchange
- Low commissions of just 2% with some offers
- Great range of sports and markets
Licensed and Regulated
Betfair AU Review
Betfair Exchange Key Features
Betfair is Australia’s only legal betting exchange and is distinct from a fixed-odds bookmaker. Registered customers with Betfair can bet on something to happen (back) and something not to happen (lay). Betfair provides the infrastruc,ture to bring together backers and lays. Counter bets are matched at a mutually agreeable price or not matched but can be matched after a delay.
The key to an effective exchange is liquidity so that bets can be matched. Betfair Australia scores highly in this area so the betting exchange works well. The operator does not make money from the outcomes of the bets. Betfair charges a commission on winning bets and huge amounts can be involved, especially for major soccer and cricket matches.
Pros
- Trading of sports events.
- Over 30 sports categories.
- High liquidity in most markets.
- Fully functional downloadable app.
- Betfair Hub with tips and previews.
- Multis fixed odds betting.
Cons
- Limited live streaming.
- No live online betting due to the Australian gambling restrictions.
Promotions
Betfair does not regularly provide ongoing promotions for existing customers. Betting operators in Australia do not offer welcome bonuses. Overall, that generally means a lack of promotions for new and current customers. However, the odds with Betfair Australia offer up to 20% more value than with fixed odds bookmaker because it does not include the bookies margin. Betfair Australia also rewards loyalty with two other elements of the service.
Betfair Multis
The betting exchange model does not incorporate multiples betting due to how an exchange operates. However, customers in Australia have access to a ‘Multis’ section. It features back bets only on a traditional bookmaker platform so there are no commission charges. The feature allows customers to create their own multi bets by combining markets from a number of events.
The minimum stake is 50c and the maximum number of selections is 10 in one bet. However, it must be pointed out that the exchange odds offer better value and there is currently no mobile version. We would expect more events and markets to appear in time.
Payment Options
This table shows the deposit options with Betfair and information about each provider:
Provider Minimum Deposit Time Delays Fees
POLi $5 Instant No charge
BPAY $30 Instant No charge
Skrill $15 Instant No charge
Neteller $25 Instant No charge
Credit card $10 Instant No charge
Withdrawals can be made by Bank Transfer, Skrill and Neteller. Transfers are processed by Betfair promptly but are subject to other delays depending on the provider. Some providers charge a fee for carrying out transactions of this nature and with others there is no service charge.
Betfair Exchange Betting Markets
Betfair offers exchange markets in about 30 categories. Some of the most bet on sports for customers in Australia are cricket, Australian Rules and rugby league. Exchange bettors can back and lay markets in cricket Test matches, One Day International, Twenty20 tournaments and domestic leagues. The NRL and AFL in rugby league and Australian rules feature a wide range of markets. Betfair’s exchange players in Australia can also trade on the NFL MLB, NBA and NHL.
Customers also have access to back and lay markets in global sports such as tennis, golf, boxing and motor racing. However, one of the major strengths of Betfair Australia is the horse racing service. The betting exchange offer trading on many meetings in Australia and New Zealand and other parts of the world, including the UK and Ireland, United States, South Africa, France and UAE. Bettors can get bets matched in Win and Place markets.
However, soccer generates most turnover and the most traded fixtures are from the English Premier League. The 1X2 match market is the most bet on but that is complemented by about 100 additional markets for the major fixtures. Handicaps and Over/Under totals generate plenty of betting but more speculative markets such as the correct score are also popular.
Other aspects of a match that can be traded included cards, corners and total goals. In addition to soccer and the other mainstream sports, customers with Betfair can match bets in Politics, Esports, Poker and Specials.
Betfair Exchange Final Verdict
Betfair dominates the global exchange market, accounting for over 90% of exchange betting. As there is no bookmaker margin, the odds can be up to 20% better that the same odds with fixed odds bookmakers. Some of that edge is negated by commission on winning bets which is at least 5% but there is still greater value at the exchange.
Betfair is the only exchange operation licensed in Australia. However, even if a competitor became licensed and regulated, Betfair has the market spread and liquidity to maintain the loyalty of most customers.
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