Betfair Review

Betfair is not your traditional sportsbook, in fact, the Australian Betfair site is not a sportsbook at all, it is a betting exchange. This means that when you place your bets with Betfair you are actually betting against other Aussie punters.

Betfair’s unique approach to sports betting means that the odds you get can sometimes be the best of any Australian betting site.

However, after using the Betfair app for some time you'll also come to realise that many betting options aren't available and/or that the prices offered for many betting options are pretty bad.

It is also important to note that the Betfair exchange can be used just like a traditional betting site but the navigation and design are not very intuitive or easy to use.

Why we like Betfair ✅

• The Australian Betfair exchange allows you to bet both 'for' and 'against' events
• Betfair is good for popular novelty bets like US elections and reality TV show winners
• The Betfair exchange is the only betting site where trading is realistic and even encouraged

Why we don't like Betfair ❌

• The Betfair website is hard to use, doesn't look very good and the app is slow and prone to crashing
• Betfair does not have a sportsbook so you have to rely on other punters (many many betting markets have bad prices or are unavailable)

• How to Use Betfair
• Betfair Exchange Explained
• Betfair App
• Betfair Live
• Betfair Contact Information
• Betfair Promotions
• Betfair Sports

Betfair doesn’t look like other Australian betting sites and that’s because they offer a betting exchange - which is a little different to a traditional betting site. Many Aussie bettors are also put off by Betfair’s spreadsheet-like design and poor navigation.

1. Betfair Sign-Up

The sign-up process for Betfair Australia is quite simple.

1. Click on one of the buttons to the Betfair site on this page
2. Select ‘Join Now’ on the Australian Betfair site
3. Enter some basic personal details (see below)
4. Add funds and start playing!

2. Betfair Log In

If the Betfair Sign-Up process was simple then the Betfair Log In process is even easier.

Your Betfair username is your email address and your password is set during the sign-up process. If you forget your password you can use your security question to access your Betfair account.

3. Betfair Verification

The Betfair verification process in Australia is called the Betfair ID Check.

The Betfair verification process works two ways.

1. Electronic verification - Betfair Australia will automatically try to verify your account based on the information that you provide upon sign-up. Automatic verification can take anywhere between a couple of hours to 24 hours and if it is successful then Betfair will send you an email confirming that your account has been verified.
2. Personal Identification - Betfair Australia will send you an email asking you to manually verify your account. This process is simple and you will be required to send Betfair Australia (service@betfair.com.au) a scan/photo of one of the documents listed below.

Your Betfair Account will be suspended if it has not been verified within 14 days of registration. You will still be able to access your Betfair account but it will need to be verified before you can make any more bets.

You will need to verify your Betfair account before you can withdraw any funds from bets you have made.

Account verification is standard in the Australian betting industry as betting sites must determine that you are who you say you are, that you are an Australian punter and that you are over 18.

4. Betfair Payment Methods

Betfair offers Australian punters a range of deposit methods, but only a few withdrawal methods for betting payments.

5. How to Place a Bet on the Betfair Exchange

If you are new to the Australian Betfair site, but used to betting on a different Aussie betting site, then betting on Betfair shouldn’t be too difficult. However, if you are completely new to betting sites then Betfair’s design may be a little confusing at first.

Here’s how to place a bet on Betfair:

To place a bet on Betfair Australia, simply click the odds you want for the market you want to bet on (different odds and how much you can stake for each market is shown in the table). Then enter how much you are willing to stake on your bet and finally place your bet.

In this example, I chose to place a $20 back bet at odds of 1.52 on Man City to beat Wolves in the English Premier League. This bet works like a normal bet on an Australian betting site so if the bet wins I win $10.40 plus my bet stake of $20.

The Betfair betting site in Australia is actually a betting exchange. This means that as a punter you are not getting your odds from Betfair, you are getting odds from other Australians who are offering them to you. The Betfair exchange also allows you to act as the betting site and offer other Aussies odds for different sports events.

The odds you recieve on Betfair can sometimes be better than the odds you find on any other Australian betting site

For all the information you need to place a bet on Betfair Australia, read our how to bet on Betfair Australia section.

Otherwise, here’s everything you need to know about how Betfair works:

Betfair Lay Bet vs. Back Bet

Back Bet

Put simply, a back bet is when you bet on an outcome happening. If you have ever used a traditional Australian betting site then you have been back betting.

Key elements of a Betfair back bet:

• Odds - You can choose to take the best available odds, or set your won odds on the Betfair exchange. This is the number your bet stake is multiplied by to calculate your winnings.
• Stake - The amount of money that you want to wager on your back bet. If you win your bet you will receive your bet stake back, multiplied by the odds at which you place your bet.
• Liability - Your bet stake. This is how much you will lose if your bet does not win.

Lay Bet

A lay bet is when you act as the bookmaker and offer odds, and an amount of money, that you are willing to accept bets from other Aussie punters.

A lay bet is a bet that an outcome will not happen.

Key elements of a Betfair lay bet:

• Backer’s Odds - You choose the odds at which you are prepared to accept bets from Australian bettors.
• Backer’s stake - The amount of money that you are willing to accept a back bet for. This is the amount of money you will if the outcome you are laying does not happen.
• Liability - The amount you have to pay to the backer if the outcome does happen. Your liability for a lay bet = [lay odds] x [backer’s stake] - [backer’s stake].

How does Betfair commission work?

Betfair Australia is not your usual Australian betting site, they are betting exchange, and as such, they make their money by charging a commission based on your winnings.

Your losses on Betfair will never be charged a commission.

Betfair commission rates for a given market can be found by clicking on the ‘Rules’ button on the Betfair site or betting app

Betfair commission in Australia is calculated by applying the Market Base Rate (MBR) to your winnings after a market has been settled. The MBR for different sports varies but ranges from 2.5% to 10% and averages 5%.

See the table below for Betfair AU’s sports and state-specific commission rates.

Betfair players in Australia can earn discounted commission rates based on their Betfair loyalty points. Read more about discounted commission rates on Betfair here.

What is Betfair Trading?

The Betfair exchange is a bit like a stock market. Odds fluctuate depending on what real punters think different betting markets should be priced at. This means that you often get the best odds of any betting site on Betfair because the prices on Betfair usually represent the true market value for bets.

Because Betfair markets are always in flux, particularly as sports events get closer to kick-off, some punters like to trade on Betfair (just as financial traders trade on the stock market).

Betfair trading can be a little daunting at first, but once you get the hang of it it’s pretty simple.

When you trade on Betfair, you are predicting a change in odds. By Backing and laying the same odds, at different times, you can profit off odds increases/decreases.

For example, by backing a certain bet a high odds, and then laying the same bet at lower odds later on, you can guarantee yourself a profit.

There is plenty of software out there that makes knowing how much you need to back and lay to make a profit even simpler including features within Betfair’s own trading software.

There are many other ways to trade on Betfair, this is just a simple one bet before you become a master trader we recommend signing up for Betfair and getting familiar with their site.

The Betfair app is an okay option for any Aussie who wants to use the Betfair exchange from their mobile phone but we reckon there are better mobile betting alternatives out there.

Betfair App Pros ✅

• Full access to Australia’s biggest and best-betting exchange
• Free on Apple and Android
• Form hub and price graphs for all the statistics you need

Betfair App Cons ❌

• Some markets are not available
• You will find bad prices for many bets
• No back button so have to navigate through menus
• Spreadsheet design can be hard to use
• Issues with bugs and crashes

Betfair App Review ⚖️

The Betfair Australia app is free to download on the App Store or from the Google Play Store.

We do and don't rate like the Betfair app for a number of reasons.

First and foremost, the Betfair app is the only place you can access a betting exchange from your mobile in Australia. Betfair’s unique exchange betting site sometimes has the best sports odds in Australia so being able to take this on the go is a huge plus.

The Betfair app is a condensed version of their desktop site which we think makes betting on Betfair app a little easier, especially for beginners because there is less to look at and be distracted by. Despite this, Betfair's navigation and design are quite hard to use and understand so there's plenty of better alternatives, especially for beginners.

You have full access to price graphs, sports statistics, and race form on the Betfair app which means that you don’t have to give anything up when placing mobile bets with Betfair. Also, note that you will see the full market when you turn your phone on its side but this doesn't make for a great overall betting experience.

You can also access your account from the Betfair app which makes depositing, withdrawing, and managing your settings easier.

For Betfair Live Betting see below.

Betfair Live is Betfair’s own racing market watching tool that lets Aussie (and Kiwi) exchange bettors visualize the way betting markets are trending with graphs, statistics and interactive graphics.

On Betfair Live you can:

• Compare the best tote and corporate prices for horse and greyhound races
• Access detailed runner statistics
• See price changes in fluctuation charts
• Visualize price and volume metrics using graphs
• Quickly identify which side of the bt most of the money is weighted on
• Filter races by region
• Place bets
• Bet Live can be accessed on the Betfair App

Betfair’s live betting section is called Betfair In-Play.

With Betfair In-Play you can bet on most horse, greyhound and sports betting markets live.

Online live betting is restricted by the Australian government, however, Australians can still bet live with Betfair on the phone.

To place a live bet on the Betfair exchange in Australia:

1. Click on one of the buttons on this page and create a Betfair account
2. Find a betting market that has a green ‘in-play’ icon
3. Call 132 BET (132 238) and quote your Telephone Account Number (TAN)
4. Give the details of the Back or Lay bet that you want to place (min $50)

Because of Australia’s strict betting laws against live betting we love to see that Betfair gets around this by offering live phone betting. What is more, because of the nature of the Betfair exchange and that odds are set by Aussies and not a bookmaker, you will likely find the best live odds of any Australian betting site on Betfair.

Betfair also lets you cash out of live bets with their phone betting service.

You can contact the Betfair customer support team with each of the following methods. The Betfair Australia call centre is open 24/7.

Betfair Customer Support

When it comes to customer support Betfair is a friendly, helpful betting site. The customer support team is available 24/7 by phone and via email however, it’s a little disappointing to see that Betfair doesn’t offer a live chat option to Australian using their betting exchange.

One of the really good things about Betfair is that they have a detailed FAQ page and great How To videos. This means that if you don’t get all the betting information you need from this review you will likely find the answers on Betfair's site.

Betfair AU will also give punters a demonstration on how to use any aspect of the betting exchange that they want. To get a demonstration you simply have to call 1300 238 324.

Betfair Promo Code

If you’ve been searching the web for a Betfair promo code then you have probably come across a bunch of links that claim to be Betfair promo codes. We are here to set the record straight.

There are no current Betfair promo codes for Australia

Betfair promo codes do exist for UK customers but due to Australia's strict laws against sign-up bonuses and promotions for new customers, there are no Betfair promo codes available for Aussies.

This is a little disappointing but all betting sites in Australia are in the same boat so we don’t blame Betfair.

Betfair Sign-Up Bonus

As we mentioned above, Australian betting laws do not allow sign-up bonuses to entice users to join betting sites.

This means that a Betfair sign-up bonus does not exist in Australia.

You should ignore what you read online from sites claiming to offer you a Betfair sign-up bonus because they are illegal in Australia.

You’ll find many of the biggest sports events and some more obscure ones on the Australian Betfair site. Be aware that you’ll only be able to bet on markets that other Aussies also want to bet on since the Betfair exchange requires other Aussie punters to match your bets. This means that a lot of betting markets are not available on Betfair.

This means that Betfair is best for big sports betting markets like the NRL, AFL, Golf, Football, and Cricket.

If you are looking for a better racing betting site then know that you will always get the best Starting price odds with Betfair’s Starting Price which averages around 10% better than the standard tote price.

Betfair is also the best betting site for US election betting with a top range of well-priced odds for many political, and entertainment, bets.

🏏 Betfair Cricket

You’ll find cricket betting markets on Betfair for International tests and ODI’s and also for top leagues like the IPL, Big Bash, and Sheffield Shield.

🏌 Betfair Golf

Betfair’s golf betting selections include all the major tournaments and cups.

🇺🇸 Betfair US Election

You’ll find the best odds for the US election on Betfair and Betfair’s political betting markets often represent the real market price for political bets.

🏇 Betfair Racing

With the best starting prices in the industry, Betfair is a good place to bet on horses in Australia.

️⚽️ Betfair Football

Football betting markets are varied on Betfair with heaps of options for top leagues and tournaments including the EPL, A-League, Champions League, and FIFA World Cup.

🏉 Betfair AFL

Betfair’s AFL commission rate is low (2.5%) and when you consider that the AFL odds on Betfair may be better than for any other Aussie betting site we think that Betfair is a decent AFL betting site.

🏉 Betfair NRL

The biggest Rugby League competition in the world is another popular betting market for NRL bettors in Australia.

Our Overall Rating: ⭐️ ⭐️ ⭐️ ⭐️ ⭐️ ⭐️ ⭐️ ⭐️
8/10

Out of the four expert reviewers that have used, and reviewed Betfair - the rating as a product overall is 8. The highest rated factors between our experts was Sports Odds and Domestic Racing Odds.

Some of the lowest rated factors were Promos (All) and Multis.