Pros and cons
- unlimited highs in football
- high coefficients
- opportunity to trade
- A long line is formed (or not formed at all) for unpopular sports and leagues
- Basketball markets are often illiquid
- Weak market on all sports except football and horse racing
- high margin
- As of the end of 2016, 7,000 people worked in Paddy Power Betfair in 16 cities of the world. The company's revenue for 2016 amounted to 1.5 billion British pounds, and operating profit - 330 million British pounds, according to the official report of the organization
Betfair betting exchange started in 1999 in a foggy Albion, the city of London. The company was one of the first in the world to offer players to bet with each other, and absorbing competitors, quickly established itself as the best provider of bookmaking services.
In 2004, the management of Betfair decided to limit access to US players, which unexpectedly gave its positive results in 2006, when the ban on online sports betting came into effect in the United States. In the same year he launches his mobile application and online casino. The next important event in the history of the company was the exit of shares to the London Stock Exchange on October 22, 2010, where it was valued at 1.4 billion British pounds. The initial auction gave the company 210 million pounds. In 2011, in order to avoid large taxes, it transfers all operations to Gibraltar. In 2013, on its website launches a classic bookmaker.
On February 2, 2016, a merger with the Irish bookmaker Paddy Power takes place, which bought 52% of the company's shares. The new company was named Paddy Power Betfair.
Betfair is the largest exchange in the world of betting. Note that the company is famous for a high commission for users (5-7% depending on the region), but this compensates for the high liquidity of the market. Betfair has appropriate gaming behaviors in the UK, Australia, Germany, Italy, Austria and Malta. He is the sponsor of the Manchester United football club.
Despite the fact that it is very difficult for people first encountered with the betting exchange to understand the principles of this kind of bookmaking services, the site betfair offers a very understandable interface. On the first page you can see already recognizable structure, for more comfortable use the site is adapted to the classic bookmaker's office. Be careful if you click on the sportsbook tab, then go to the classic betting line. In order to start playing with other players, you need to click on the EXCHANGE, where there will be sports events, in front of which there will be coefficients, amounts of money "for" and "against" and so on.
The registration procedure on the Betfair website is quite simple and takes only a few minutes. The main thing when registering is to indicate your true data about yourself so that you do not have problems with the withdrawal of your money. After registration, you will need to send the supporting documents to Betfair. This procedure is called "Checking the Personality of the Client", go through it immediately and in full, to avoid further trouble.
When you get access to website, in the right corner you will see Sign Up button, click on it and fill all the neсessary fields about yourself:
- First name
- Last name
- Date of birth
- Mobile number
After that fill in your Betfair account:
- Email Address
- Password and confirmation of it
- Choose security question and write security number
- Choose Account Currency
- Tick below if agree with
- Click th “Join now”
You can replenish your Betfair betting account by means of Visa, Mastercard, Visa Electron, Webmoney, Skrill, Neteller payment systems, or by bank transfer.
All deposits, except bank transfer (from 3 to 5 days), are credited instantly. The exchange does not cover the fees of payment systems on deposit,
Withdrawal of funds
You can use the aforementioned payment systems to withdraw funds. Time for withdrawal of funds from Betfair through payment cards and bank transfer - up to 5 working days, Webmoney - 1-3 days, for QIWI, Skrill and Neteller - within 24 hours.
The company incurs all costs when paying out money, except for bank transfers ($ 15 for transfer) and transfers to Webmoney ($ 1 per transfer).
You can open an account in US dollars, euros, British pounds, Danish and Swedish kroner, as well as in Australian and Hong Kong dollars.
Line and Betting on Betfair
The exchange rates are wide lines and paintings, high highs and odds. Among the shortcomings is low liquidity on Asian handicaps
On the bookie, a wide line and a fairly rich painting. You can bet on 32 sports, including e-sports. The coefficients are high: the margin for popular sports events is about 2-2.5%, and for the rest - 3-4%.
The betting exchange has a poor choice of bets in the course of the match.
The bookmaker offers a fairly limited choice of bets in live, although all the main market are present, such as 1x2, total, odds. As for the margin, in the live it is much higher than in the pre-match - about 9%.
Minimum and maximum bids
The minimum rate on the exchange is $ 4 (either £ 2 or € 2). Bets are settled within 15 minutes. Like any stock exchange, the maximum bet on Betfair is theoretically unlimited, but it is here thanks to the highest liquidity that you can make the largest bets among exchanges.
The site has a mobile version and applications for iOS and Android, in which the client is available to all, except for live casinos, bets on virtual sports, bingo and broadcasts.
Betfair offers these products:
- sports betting on the basis of the exchange;
- sports betting based on the bookmaker principle;
- rates for virtual sports;
- betting on eSports;
- live casino;
- slot machines.
The exchange allows you to watch video broadcasts of sports events and provides access to the match center with statistics.
The support service serves clients in ten languages, among which Russian. In spite of the fact that there is live chat on the site, Russian support is available only by e-mail, and an average response time of 2 hours is required. For English-speaking clients, there is a telephone support service.
Verification of customers - verification of documents and age of players - is made at the first deposit. To pass the verification procedure, any identity document, as well as a bank receipt, on which the address of residence of the player is indicated, will suit.
Summary and Conclusion
Betfair is the largest betting exchange in the world. It is suitable for professional players. Also this is the most expensive among the betting exchanges for users (the commission with win varies in the region of 5-7% depending on the client country), but this compensates for the high liquidity of the markets.
The betting market opens almost unlimited earning opportunities for those who are well versed in how the bookmaker business works and can predict the movement of the market in major markets like the Champions League, top football championships, the NBA, etc.
If all this is about you - you will definitely love Betfair. Unprofessional players who are accustomed to betting in bookmakers will be bored and not interested, because not everything can be put/