Betfair Review AU

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.

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.

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.

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.