As one of the world’s leading betting companies, Betfair may be a name you are already familiar with if you are interested in betting. Whether you are looking for more information about betting Exchanges, Betfair specifically, or betting in general, we can help you.
Below we will cover the many important details of Betfair as a betting Exchange, what this means, if it is a safe way to place bets, and details of what opening a Betfair account can offer you.
The website began with the Betfair Sportsbook over 20 years ago, and after one year as Betfair Sportsbook, the company, which is part of Paddy Power Betfair PLC, began offering betting options. Very quickly, Betfair established itself as one of the best betting sites available for online sports betting, with new customers opening a Betfair account daily.
Although most of Betfair’s customers are based in the United Kingdom, there are a number of customers in mainland Europe and others globally. The difference between a standard betting account and a Betfair account for the betting Exchange is what makes the site so popular.
The Betfair Sportsbook account was an excellent place to start for the company as it built a strong customer base before offering the services of a betting Exchange. The website has been optimised for mobile phone usage, meaning you can continue to place bets on the go.
- What is Betfair Exchange?
- Is Betfair Exchange Sports Safe?
- Betfair Exchange Sports Sign-Up Offer
- Ongoing Promotions at Betfair Exchange
- Betfair Exchange Sports Expert Analysis
- Which Sports Can I Bet on at Betfair Exchange?
- Betfair Exchange Sports Odds
- Bet Limits
- In-Play Betting
- Additional Features
- Customer Service
- How to Get Started at Betfair Exchange Sports
- Step 1: Visit the Betfair Exchange Website
- Step 2: Sign Up
- Step 3: More Info
- Betfair Exchange Review FAQs
- Why doesn’t Betfair Exchange accept eWallets?
- How come I can use a credit card at Betfair Exchange?
- I bet £1 on a spread bet at Betfair Exchange and lost £3! How come?
- What is a ‘stop loss’?
- Is Betfair Exchange licensed?
- Can I bet on credit at Betfair Exchange?
- Is Betfair Exchange user-friendly?
- Is Betfair Exchange secure for payments?
- Is Betfair Exchange reliable for customer support?
- Is Betfair Exchange safe or scam?
- Betfair Exchange Summary
- Other Spread Betting Sites
What is Betfair Exchange?
A betting Exchange is a form of sports betting where instead of standard betting against a bookmaker with fixed odds, you bet against other customers within the betting Exchange. This gives bettors the option to set their own odds for a sporting event, such as horse racing, or bet using the odds one of the bettors on the Exchange has set.
When betting via a bookmaker, you are at the mercy of the odds that each bookmaker sets, which will always be of less value than through a betting Exchange. If you are betting on horse racing, the bets will be as close to 100% as possible for an 8-horse race.
However, if you bet via a traditional bookmaker, you will likely be offered odds that will add up to around 110%. This means that there is a higher profit for the bookmaker and less profit for the punter for each bet.
If you have previously only placed bets via a traditional bookmaker, you may feel very overwhelmed when you first create a Betfair account. However, it is something you will quickly get used to the more you use your Betfair account.
To better understand a betting Exchange, you can view it as simply a site that allows bettors to be paired up to bet against each other. All betting Exchanges will charge a fee for the services available on their site. The percentage of their fee will vary depending on the company and any offers available, so it is best to check this each time.
A simple example of a betting Exchange bet is if you review the traditional bookmaker odds and think that due to your knowledge of a football team and football odds, a higher price can be offered. If another member of the Exchange thinks that you are wrong, they can match your odds and lay the bet.
The main attraction for Exchange betting through a Betfair account is that you can decide between yourself and the person you are matched with what the stake and odds will be. This gives punters much more freedom over these factors depending on what they expect will be the winning bets.
Is Betfair Exchange Sports Safe?
Sports betting does not get much safer than a Betfair Exchange account. Betfair casino is a well-established brand. The Betfair brand is licensed and regulated by the United Kingdom Gambling Commission so you can be sure that all legal regulations are being adhered to by Betfair’s website.
The Exchange that is offered by Betfair for sports betting, including horse racing, is part of the larger Betfair casino brand, which offers further assurance. Betfair’s website has been in place for over 2 decades. With tens of thousands of customers worldwide, you can be sure that your Betfair account is safe to use.
Betfair complies with all United Kingdom security and data protection guidelines. This in turn provides further assurance that all data submitted to open your account and that all information saved within your account is secure.
When placing bets, you will have completed the Betfair sign-in process and will be logged into your account. This means that when betting via the online casino, placing lay bets, or playing casino games you will be doing so only with money you have already deposited into your Betfair account.
Betting with money within your account means that you are not exchanging financial information with other uses of the Betfair Exchange app or website. You will also be able to withdraw funds if you make a profit straight into your bank or back to your payment method.
All deposits and withdrawals are secure and encrypted for added security, with all details of the security on the website linked on the Betfair Exchange landing page.
Betfair Exchange Sports Sign-Up Offer
Betfair regularly has new sign-up offers available on the website for a number of betting markets. Currently, there is not a Betfair Exchange welcome offer available. However, if you complete the Betfair sign-up process, you can access a welcome bonus for traditional odds bets or the online casino.
Offers are very easy to find on the Betfair website, simply choose the betting market you are interested in from the options at the top of the homepage and view all the offers that are available.
Ongoing Promotions at Betfair Exchange
There are a number of ongoing promotions on horse and greyhound racing, football, and other sports available. You can view all of the Betfair promotions and Betfair promo codes by clicking on Exchange in the menu at the top of any page on the website.
There are a number of online betting promos and Betfair bonus details on this page, from money-back offers if you lose a bet to earning cash for referring friends. The Betfair bonus details for both the Exchange and other betting options all have separate terms and conditions.
It is important that you read the details of any online betting promotions, including minimum deposit or minimum odds information. It is also best to note that any Betfair offer can change at any time without notice, so it is worth checking the Betfair offer pages each time you log into your account or when you are considering placing a bet.
Free bets are the main feature of the ongoing promotions on Betfair’s site, with free bets being offered on a number of new and existing betting types across the website. If you are offered free bets, we recommend that you take them and use free bets as a way to try something new.
Whether you choose a new game or a new sport to use any free bets on, it is worthwhile using them instead of ignoring them. With a free bet offer, there are likely to be some very specific terms and conditions attached, so thoroughly reading and understanding those before using a free bet promotion is essential.
Regularly checking the offer pages will help you to get the best offers available for both exchange and Sportsbook betting markets.
Betfair Exchange Sports Expert Analysis
In addition to being a betting site, you can also read sports expert analyses on Betfair’s website. Although Betfair may be known for being the biggest betting Exchange and one of the best websites in the sports betting industry, there is so much more to the website than Exchange and Sportsbook betting.
All of the sports analysis and information is separated into individual sports by using the menu at the top of the screen. You can view betting tips and predictions on a variety of different sports in addition to viewing the live betting market.
The more information that you have before you begin live betting and in-play betting, the better you will be at making in-play decisions. If you are deciding on Exchange odds with no information about how a team or a horse has been performing recently, it will make it difficult for you to profit from a bet.
Live betting is becoming more popular than telephone betting as you can have information on the screen in front of you as you analyse the data to place your bets.
Which Sports Can I Bet on at Betfair Exchange?
The number of markets that you can bet on from the Betfair homepage is a good size, although some other sites offer additional options. The popular betting markets available are:
- Horse racing
- Greyhound racing
However, you can create a betting Exchange for a lay bet for other sports, including ice hockey or baseball, if you can match with someone else willing to offer the lay bet you wish to match.
If you find a betting Exchange offering a wider range of betting types, you should compare the wider details, such as the odds and offers available, to check if other sites are better than Betfair.
Betfair Exchange Sports Odds
Betfair uses decimal odds, mostly, for all bets available. Decimal odds are popular worldwide and so give Betfair customers from all countries the same information. We also love that there is an odds converter on most pages of the Betfair desktop pages to enable its customers to view the odds they are most comfortable viewing.
The Betfair website also includes a guide to the odds that are offered by the company to help its customers to understand decimal odds. In comparison to fractional odds, it is easier for a lot of bettors to understand what they will win in real terms with decimal odds. The conversion of fractional odds to an amount that can be withdrawn can be difficult for new bettors.
The Betfair Sportsbook rules and regulations are provided on the website clearly. However, they include a significant amount of information. We have gathered details regarding bet limits in general, although if you would prefer to read the full terms and conditions, they are available for all website viewers.
The rules and regulations page provides a table that shows the maximum available payout for each betting market that is available.
When betting via the Exchange, you will not be limited by how much you can stake per bet, as the amount of your bet is based on what the person you are matched to is willing to bet. Unlike placing a traditional odds bet via a bookmaker, there will not be an upper limit on what you can win or an upper limit when you hit a winning streak.
In-play and live betting is a staple of the Exchange offered by Betfair. With more sporting events now available via live streaming, the interest in in-play betting has increased significantly. Therefore, Betfair has optimised its live betting systems to ensure that customers have the best possible experience via Betfair desktop or mobile.
Whether you are placing a single bet on a game, multi bets, or a bet builder, you will have the option to place in-play bets throughout games. You will also have an early cash-out option on some bets with Betfair, and this allows you to stop the bet at a point that is profitable for you.
It is worth doing this if it looks like a bet might not ultimately be won at the end of the match, race, or game. This option is not available on every bet offered, so, please read the small print of each bet type to check what is available.
The live streaming services offered on both the mobile and Betfair desktop sites allow you to watch and bet on sports globally. This gives a wider range of sports and markets for customers to bet on.
When betting via the Betfair betting Exchange, you will be rewarded with Betfair points for each bet that you place. This is an excellent incentive to open a new Betfair account and to regularly place bets via the Exchange. The more bets you place, the more points you will earn in your new Betfair account.
The more points you have, the more of your winnings you will receive. All winnings you earn via the Exchange will be liable to a commission payment paid back to Betfair. The higher your points value, the less commission you will pay on each transaction.
We think this is a brilliant way to reward loyal bettors and a way to save customers a significant amount of money over time. As a loyalty offer for bettors, this is one of the better ones we have seen.
An alternative to the Exchange is the Sportsbook and casino games offered by the Paddy Power Betfair site. There is an extensive range of additional betting options and games that will help you increase your profits. Playing a game, multi-betting, or betting via the traditional Sportsbook are all ways in which you can increase your options for winning.
The Betfair customer support team are specialised in supporting all of the customers via live chat with the ability to get live chat support within minutes. The customer service team at Paddy Power Betfair is experienced in providing a high-quality customer experience when you need advice or support.
Customers have access to support 24/7 via either the live chat, website FAQ section, email, or telephone. We have found that if the information is not included in the FAQs the live chat is the quickest way to receive a professional answer to your question.
How to Get Started at Betfair Exchange Sports
We are going to provide you with information regarding how you can get started and how to get the most out of your Betfair Exchange account. From the initial sign-up process, the multiple payment method options that you have, using the website to complete your bets, to how you can withdraw money when you make a profit.
Step 1: Visit the Betfair Exchange Website
Accessing the Betfair Exchange website is not a difficult process, you can access it either directly at Betfair™ » World’s Biggest Betting Exchange. Alternatively, you can access the main Betfair landing page and select Exchange from the menu across the top of the page.
From the Betfair homepage, you can see all of the services, markets, and games offered and with one easy click, you can access any of the available options. Each betting option that you choose will show the minimum odds so you can decide whether or not that is the bet for you.
Step 2: Sign Up
If you decide that you wish to sign up for the Exchange via Betfair’s website, you will proceed through the easy-to-follow signup process. We will give you step-by-step advice on how to set up your own account.
Click ‘join now’ located at the top right of the screen, and this will take you to the registration form. As Betfair is a licensed gambling site they ask for all of the information required by the Gambling Commission in the United Kingdom. Betfair review all of the details you supply, so you should ensure that you include all of the required information.
The registration form will ask you for the following:
- Your title, first and surname
- Your date of birth to confirm you are old enough to use the site
- Your email address – this will be used for verification purposes but will also be used to send you any Sportsbook, Betfair Exchange, or casino offers. You will also receive information about popular live streaming events via email
- Your country – this will ensure that the correct legislation is adhered to based on your location
- Your address to confirm your details
After completing your personal information you will move on to your Betfair account details, you will be able to choose some of the required information, but parameters are given.
- You will choose a user name which will need to be unique
- Create and confirm a password that meets the minimum security standards for password specifications
- You will then choose a security question from a list of options and provide an answer for this in the next box – this is to help recover your account if you forget your password, so it is recommended not to share this with anyone
- You can choose the currency that you will be using, this will enable you to see the correct minimum deposit amount and to know how much you will receive when you withdraw funds without needing a currency converter
- You can also enter a referral or promotional code if you have one to receive a welcome bonus
- Finally, you are given a check box to confirm you have read and will adhere to the terms and conditions of holding an Exchange account, including that you do not have an active Sportsbook Betfair account. Remember, Betfair review all of the details you provide and will check this
Although this sounds like a lot of information to enter, it is standard for this type of account and does not take very long to actually complete. Your account is then open and able to be used immediately with access to live streaming sports, Bet Builder, casino, and live streaming table games also available immediately.
Step 3: More Info
After opening your account, you can log in and out as you wish and add promotions as you see any that will benefit you. We recommend that you regularly check your emails and account promotions to make the most out of the available offers.
We found the quality of the live streaming events to be extremely high, with the picture and audio quality clear and easy to follow. If you are interested in live streaming in addition to in-play betting, we think you will enjoy being a member of the Betfair community.
Betfair Exchange Review FAQs
As discussed above, Betfair has an extensive FAQ section on its website; however, we have found when compiling this Betfair review that the below questions are the most commonly asked. So, we have gathered the information below to help you have the details all in one place.
Why doesn’t Betfair Exchange accept eWallets?
Although the main Betfair Sportsbook and casino site will allow payments via eWallets, the Exchange side allows only deposits via card and a select few alternative payment methods. For more information about the deposit methods you can use, we recommend you click on the deposit page from the main website.
You can also sign up for the mailing list for Betfair’s site to be updated on any changes across the website.
How come I can use a credit card at Betfair Exchange?
If you are within the United Kingdom or Ireland you will not be able to make a deposit via a credit card. This is due to the rules and regulations set out by the United Kingdom credit card companies. The only deposits you can make by card in the UK and Ireland are via a debit card.
However, if you live outside of the UK and Ireland and the credit card companies of the country you reside in allow credit card only deposits then you will be able to continue to use your credit card within your account.
If you have added the correct address and country to your account, you should be able to see if you can use a credit card when you are on the deposit page. If you are unsure if this deposit method is available, you can also contact your credit card issuer or check the information on the issuer’s website.
It is always important to ensure that any bets you place are affordable to you and that you are able to make payments to cover the balance on any credit cards you have.
I bet £1 on a spread bet at Betfair Exchange and lost £3! How come?
Spread bets are different from traditional odds bets, and you can lose more than your initial stake on this type of bet. This is because you are not betting on a fixed outcome or situation within a match or race.
A spread bet is where the betting company gives a range for the outcome rather than the fixed amount. In fixed odds betting, you may place a bet that there will be 3 goals scored overall in a football match. However, in a spread bet, you would be betting based on a spread of 2 to 4 goals.
In spread betting, if you think the number of goals will be 4 or above, you would buy, and the stake is what each goal above 4 would be worth. Alternatively, if you think there will be fewer than 2 goals, you will sell against the spread, and the amount per point is how much you would win for each goal below 2.
So, if you buy £1 per point above the spread and the result is 3 points below the spread, you will lose £3.
Spread betting is a complex form of betting closer to financial trading, so if you are planning to make spread bets, we recommend you research this form of betting. Ensuring you understand spread betting is essential, as you can lose more than your initial bet.
However, the opportunity to win high volumes of money is also possible with spread betting. We have found the spread bets offered by Betfair reliable and can be more profitable than a Bet Builder. You can also use multiple bets to buy and sell on the spread so you can hedge your bets.
What is a ‘stop loss’?
If you have not previously heard of the stop loss function, you may have heard of the tick offset option for trading; stop loss works in a very similar way. If you have not heard of either, we will outline what this means in full below.
A stop loss is a safety net that allows you to set a limit at which your Exchange bets will automatically stop if you are losing. This gives bettors the peace of mind of knowing that Betfair review any stop loss limits in place and applies them in the case of significant losses.
You can set the limit either as a numerical value or a percentage of your bet or profit, meaning you are completely in control of everything you are doing when using the Exchange at Betfair.
While it is possible to use only the stop loss feature within a betting account, many companies offer it, and many customers choose to use both stop loss and tick offset in combination. This guarantees extra protection for the bets being placed and more safety for a bettor’s investments.
The intricacies of stop loss and tick offset can make them both difficult processes to follow. We recommend that if you are interested in adding either of these features to your account that you investigate them further and look at practical examples.
Is Betfair Exchange licensed?
Betfair Exchange is licensed by the Gambling Commission in the UK, as part of the Paddy Power Betfair brand all of the horse racing and other sports available for betting are regulated under this license.
The licensing process is not a quick process and as such having this awarded to a gambling company should give an assurance that the company is one to be trusted. The licensing process takes around 4 months to complete and so will need to be applied for in advance of a company beginning to trade.
This alone shows that a betting company has planned and developed the company and website months before it is available for customers to bet.
The UK Gambling Commission requests an extensive list of official documentation from the company for a license to even be considered. The betting company will also pay an application fee to have the license considered.
If granted, the company will then pay an annual fee to ensure that all appropriate regulatory checks are completed by the Gambling Commission. An annual check of the company by the regulatory body is another assurance that Betfair is operating within legal parameters.
Can I bet on credit at Betfair Exchange?
You cannot use a credit card when making a deposit via the Exchange at Betfair in the UK due to the credit card restrictions in place in the UK. Some Exchanges and spread bet sites will allow you to take out credit with the betting company in the case of you losing more than the amount in your account.
However, this is not currently a feature that Betfair offers. If you are interested in betting via the Exchange, it is best that you sign up for an account and see which offers are available to you. Betfair review and refresh its offers regularly and provide free bets to allow you to try areas of the site that you have not yet tried.
Having a free bet available is the best time to try a betting market that you are unfamiliar with or have not used before. There is no risk when using free bets as you are not using your own funds to bet or play a casino game.
If you are planning to use a free bet on a new betting market, it is best that you understand the market you are betting in so that you do not waste your free bet. If you have never placed a bet on the Exchange or a spread bet, it is best that you read up on what each bet is before spending any money or using free bets on them.
Is Betfair Exchange user-friendly?
Betfair Exchange is very user-friendly, and the website is easy to navigate, with a very clear menu on each page. From the home page of the website, you can see all of the promotions and free bet offers available before selecting Exchange from the menu at the top of the page.
Once you enter the Exchange section of the website, you are given a top menu of the most popular markets that you can bet on. Additionally, there is a menu on the right side of the page with quick links and tips for placing a bet.
The left side menu of that page shows a list of all sports in alphabetical order, which makes it easier to find what you are looking for. The main information included on the Exchange front page is the sports highlights, separated by sport and showing the odds being offered for the available bets.
Overall, the website is extremely easy to use, and everything you may want to view is clearly labelled to move around the site. The menus are similar when on other areas of the website, making it easier to use as you are not looking in one place for Exchange bets and another for Sportsbook or casino bets.
Is Betfair Exchange secure for payments?
Betfair uses high levels of encryption on its website to ensure that all payment information entered or stored within the Betfair system is as secure as possible. We recommend that you have the appropriate software on your computer, tablet, laptop, or mobile phone to ensure that the details entered on your device are secure as well.
Periodic checks should be completed to ensure that your devices are secure and do not have any viruses or malware. The Gambling Commission has assessed the level of security at Betfair to be high, which is the top level of protection it can be assessed at.
While nothing is 100% secure online, we are confident that your payment information is as secure as it possibly can be if you are using Betfair.
Is Betfair Exchange reliable for customer support?
The customer support at Betfair is available 24/7 via a variety of methods that will suit everyone. Whether you have a query about your account information or a free bet offer you have tried to claim, you can contact customer services for advice.
With a live chat facility that will get you a quick answer when you need it, we recommend this as the best way to contact customer support at Betfair.
Is Betfair Exchange safe or scam?
Betfair Exchange is a safe website to use and is licensed by the UK Gambling Commission, and is generally viewed as one of the best and most popular Sportsbook markets in addition to Exchange markets. Both offer great odds and the ability to bet in play.
You can view confirmation that Betfair is a safe website to use if you complete an online search. Reviews and scam or safe websites will guide you and confirm that Betfair is safe to use.
Betfair Exchange Summary
Whether you are new to Exchange betting or just looking for a new site where you can make bets, Betfair is a popular, secure, and worthwhile betting company to use. With free bets available across the multiple betting markets operated you can be sure to find something that interests you.
If you create an account with Betfair, you will also have access to the Sportsbook bets and casino games available with the company. The free bets offered will be across all three markets, giving you a chance to experience something different periodically.
Promotions and bonuses, including any welcome bonus, are refreshed regularly, so if you see a promotion or welcome bonus that you wish to use, we recommend that you use it quickly to avoid missing out.
The way the Betfair Exchange operates is very easy to use, provided you are familiar with betting Exchanges and know how to operate within one. We would recommend the Betfair site as one which is easy to use and well-operated. Whichever sport you want to bet on, we are confident you will find something that will suit you there.
Other Spread Betting Sites
If you have enjoyed our Betfair Exchange review you should also check out these other spread betting websites that we also recommend: