This is not a traditional bookmaker, but a so-called “betting exchange”.
This means that other players decide what the odds are. It is the other players’ placed bets that determine what the odds will be in individual games.
You can therefore strike lucky and get very good odds compared with traditional bookmakers, but the opposite may also apply.
So be careful and look around. If you play at a traditional bookmaker, the odds are more realistic as these are professional odds setters.
Meaning of Betting Exchange:
In practice this means that you play against other players instead of a bookmaker. In other words, it is the other players and not the bookmaker that set the odds and play against you. Betfair is a marketplace where players can bet against each other. The benefits of using an exchange such as Betfair rather than traditional bookmakers are that you as a customer on average get odds which are between 10% and 30% than you would get from traditional bookmakers.
If you DO NOT think that Manchester United can win against Liverpool, you can go on the BetFair Betting exchange and offer other players odds on Manchester United. By playing on an exchange such as Betfair, YOU become the bookmaker and you set the odds. You sell odds on football clubs, tennis players, handball clubs etc. that you do not think will win. Players who disagree buy your odds.
This is only possible on an exchange, in that a traditional bookmaker only lets you buy the odds. We would however recommend you read the excellent guides on exchanges and how they work in practice, available on Betfair’s website.
Betfair Bookmaker Analysis
All about Betfair!
Betfair was founded and introduced in 2000 and one of the recipients of Queen’s Award for enterprise in the Innovation category in 2003 and 2008. Since then, Betfair was considered one of the most outstanding betting and bookmaker websites in the online gambling industry. Licensed by the Government of Gibraltar and regulated by the Gibraltar Gambling Commissioner while Betfair International Plc is licensed and regulated by the Lotteries and gaming Authority of Malta. Its website has a lot of language variations such as English, Spanish, Norwegian, Danish, Portugues and many others.
The website is simple and easy to navigate, there is no over designed graphics that manipulate the necessary data for the players. 100% of the page consists of everything what the players are needed to know, meaning no advertisements and promotional teasers are included. Betfair’s website’s opening page is changeable based on what the players’ want and choice. Players can see all their favorite sports on the left side of the sport’s page. Located on the center of the sport’s page is the live game that can be watched by the players while betting. In here also is presented the special screening of featured games such as the schedule of Football, Tennis game, Cricket, darts and Golf. On the right upper side of the sport page are those instant games that the player can bet on automatically while on the lower right are the updates for different game matches. By my description, it is obvious that the navigation of the said website page is so simple and easy. Not to mention some of the advantageous articles like News about a recent game and some helpful tips for the next scheduled games. Isn’t it amazing?
Betting at Betfair has no difficulty because upon selecting which game the player wanted to bet on, parallel to visibility is the interface where the player can select betting options whether “Back” or “Lay”. On this interface, presented also are the odds that is offered or the odds that was asked for. Players can also see a lot of tools that are available to give tips to the players in betting.
About the Bonuses!
Betfair offers a registration bonus of a free £20 upon signing up an account. But Betfair has a unique way of presenting a bonus to every player, the accumulation of the signing up bonus would depend on every point that the player acquire during the first month upon registration. Meaning this £20 could accelerate up to £1000 based on the points the player earns, the higher the points, of course, the better amount of bonus the player receives. This points system would be based on the commission that the player would pay on the winning bet, one point per 10 pence. The player would need to encode a coupon code upon registration to qualify for the bonus. All info can be found at Betfair.
One more unique feature about Betfair is that, other Bookmaker websites offer dissimilar promotion per game, or either depending on the schedule of the game but Betfair is different as it only focuses on the point system that is mentioned quite above. Players need not to worry because there is a portion in the website wherein the computation of the commission plus how the points earned was thoroughly discussed.
And about any win, never worry because, the players’ account always be updated to any modifications needed, such as the additional bonus for the first 30 days or either the previous win. They would be added automatically to the player’s balance account.
Betfair banking and finance managing has not much difference from the others, there are a lot of options to consider both in depositing and withdrawing the players’ money. Payment options are as follows; any major credit cards such as Visa, MasterCard and Maestro are accepted. Other methods such as Neteller, MoneyBookers, Western Union, Bank Transfer, Click and Buy, and others are also applicable for Betfair.
And the Customer Service Support!
Aside from the FAQ’s that is available on the Help and Learning segment of the Betfair website (which is actually a “tell-all” page because almost everything that the player needed to know is there), phone and email support are also offered by Betfair. Again, uniqueness is observed in here because only Betfair has a mailing system that the player would no longer need to compose a written letter to explain what the problem is, Betfair presents a “Form” for the player to fill up what could be the problem was. As the link “Email Us” is clicked, this form would pop out for the player to easily relay any query or concern he may have.