Betfair Review 2017 – Read our Bookmaker Rating in 5 Mins
Many passionate sports bettors have heard of Betfair especially as a bet exchange operator and as a classic bookie with solid odds offers. The organsation running the Betfair website is The Sporting Exchange Ltd (Abbreviation: TSE Ltd.) located in the British oversees territory of Gibraltar.
First founded in 2000, Betfair quickly climbed to become the worldwide number 1 bet exchange. According to its own information, it is the most influential bookmaker in the British market – much to the dismay of other industry heavyweights such as Ladbrokes and William Hill.
Betfair is a comprehensive gambling destination, as it offers a variety of other products such as poker, arcade, casino and bingo. So if you get ever get bored with sports betting, there are other betting options to enjoy.
The results of the OpenOdds' Betfair review:
The Betfair website flies under the motto “Betfair – My number 1 for sports bets.” This Betfair review plans to evaluate if they really are the number one for sports bets. Some positive points include the website design and security is of the highest standard. They also offer odds that most other bookies cannot match, a wide variety of sports to keep most punters happy and a live streaming service. The live streaming service adds another dimension to the betting, making it more fun since you get to watch the action you have money on.
However, they do have room for improvement. Our Betfair review found that the Betfair customer service department could use an overhaul, and the size of the Betfair deposit bonus may have to be increased to attract a wider audience.
At Betfair, everything is very professional, and with only a few limitations found within the site, Betfair manages to score an impressive 91 of 100 possible points on our bookmaker review. This shows that Betfair is a bookie with numerous strengths and very few weaknesses.
Experiences with Betfair: The strengths of this British bookmaker
- An enjoyably comprehensive bet offer with good odds across a range of sports
- All common payment methods are offered.
- Good in-play product and live streaming available.
- Deposits are always free of charge.
- Everything at Betfair is professional.
Betfair: OpenOdds' comprehensive review of this top bookmaker
Now for the detailed review conducted by our team here at OpenOdds. The rating is based on the 10 following test categories:
- Betting odds
- Customer service
- Sports covered
- In-play product
- Payment methods
- Other Products
- Betting limits
1.) Bonuses: Solid but not a strong incentive
The bonus sign-up offer at www.betfair.com has the alluring name “Bet £10 and get £30.” Compared to other best free bets offers in the industry, this is quite low. £30 is still an incentive to create an account and make a deposit for most people, however overall it is not enough to interest professional bettors. You could do far worse than Betfair’s bonus offer but equally a lot better. Read our Betfair Bonus analysis in order to get a better understanding of their bonus offer.
Fortunately, the bonus offer is easy to process, as you only have to wager it once and the minimum odds have to be at 2.0. You have a relatively long time to process the bonus: 90 days. Other best online bookmakers tend to keep this period limited to 7 days.
2.) Betting odds: fixed odds offer is improved by the bet exchange
The absolute highlight of a bet exchange is its excellent betting odds, due to the fact that the margin of a bookmaker must not be nearly as high for bet exchanges as for a normal bookmaker offer. With the Betfair version of the bet exchange, professional sports bettors are able to get competitive odds and add another exciting level to betting. Such an exciting bet exchange can only be rivalled by other bookmakers such as Pinnacle Sports, because their top odds are almost as good as those of a bet exchange. Do your own betting odds comparison to see just how good the odds at Betfair really are.
3.) Customer service: Difficult to get in touch with
How can Betfair customers sign up? This is one of the many questions that can be answered by the Betfair customer service department. However, the customer support service at Betfair does not have the best reputation and even now we found the reply times to be too long. Concrete Betfair experiences show time and time again that the questions sent to customer support are generally answered but these answers are rarely comprehensive. This made it necessary to send out additional questions on the part of the OpenOdds users. Such a thing is just annoying for both sides, both Betfair and the sports betting community!
4.) User-friendliness: How did we find the odds offer?
The Betfair page is actually quite transparent—the layout of the site is fairly user-friendly with a bar at the top of the page allowing users to select between the various products that Betfair offers, from sports and in-play betting to Vegas slots and their new Bingo feature. The site also offers a ‘Help & Learning’ tab at the top of the webpage for betting novices, showing some FAQ’s for any queries they have regarding Betfair. While Betfair’s style may not stand out against its competition, it is very user-friendly for novice and experienced sports bettors, and its simplistic design wins big points here.
Also, if you are a smartphone user, you’ll be glad to know that the Betfair app allows punters to place sports bets. The betting app is intuitive to use and you shouldn’t find the speed of placing the bets a problem. Placing bets while out and about adds another layer of fun.
5.) Sports covered: An extensive offer!
As far as the amount of online accessible sports covered, no other bookmaker can beat Betfair. The offer ranges from sports such as American football and Aussie rules football to rugby. An enjoyable factor is the offer of typical English sports types along with the appropriate bet variations: darts, Gaelic sports, greyhound racing, horse racing and snooker. The motor sports product provided by Betfair is also worthwhile.
Processing the bonus is a lot easier when you have the ability to choose the sport that you enjoy placing bets on the most. The mainstream sports aren’t for everyone, and Betfair acknowledges that by offering a selection that other bookmakers might not bother with. Betfair come in at number 3 on OpenOdds.
6.) In-play product: Comprehensive with live streams available
Betfair reviews agree that the in-play product provided by Betfair is enjoyably comprehensive. This aspect actually looks like what Betfair promises—namely, that a majority of the offered bets can also be in-play. Not only does Betfair offer in-play betting and live tickers, but Betfair also often has live broadcasts of sports events in the form of live streams. Just considering the in-play product, Betfair is able to go head to head with some of the largest bookmakers in the industry.
7.) Payment methods: Cash-out fees
The most common payment methods for deposits and cash-outs are accepted. Transactions can be made using credit cards (MasterCard, VISA, VISA Electron), the payment service providers Neteller, Skrill (formerly Moneybookers), Clickandbuy and PayPal. In our experience, PayPal is only available for customers in Great Britain. Deposits are almost always free of charge and are quickly processed. Unfortunately, cash-outs are not always free of charge and can also take time.
There is no trace of a Betfair scam among the payment conditions—Betfair’s processes are professional. However, the fees associated with Betfair deposit & withdrawals can be a real turnoff for some of you. Perhaps in the future they will reduce or eliminate these fees to make Betfair a more competitive overall product.
8.) Other products: Many additional offers
Betfair also offers sports betting customers a wide range of additional offers, but the most interesting areas are the mobile section for sports betting enjoyment for mobile devices as well as the simple and subtle poker area. Casino and live casino areas round off the additional Betfair products. The additional offers of arcade, vegas slots (slot machines) and bingo are not really all that interesting for passionate sports bettors, however, if there is a drought of sporting events that you usually bet on, there is plenty on offer to help pass the time.
9.) Security: Is Betfair safe?
Betfair is one of the top bookmakers in Britain, and for that reason you can be sure that they’ll protect their reputation by offering the safest betting environment possible. Moreover, Betfair reviews security protocol frequently, so there is no need to worry about the safety of your money or your personal information.
10.) Betting limits: No bet limits, but very clear earning limits
Thankfully, a bet limit for the maximum possible deposit is only indirectly implemented by the amount of the corresponding earning limit. A higher bet limit can only be brought about by contacting the Betfair customer support, and usually only then when sufficient betting capital or corresponding income relationships have been proven.
The earning limits are generous across most of the sports offered, with an upper limit of £1m. The limit depends on the sport and market being bet on. For example, English Premier League football has a limit of £1m for markets including match and tournament winner, but markets such as ‘next manager' will be subject to an earning limit of £10,000. Other key earning limits include golf and F1 at £100,000, Rugby Union and boxing at £25,000. Finally, bear in mind that any multiple bets will be subject to the lowest applicable earning limit of those bets. A full list of limits can be easily found on the Betfair site.
In this section, we discuss the Betfair rating and what OpenOdds’ overall thoughts on the bookmaker are. The strengths of this bookie are that it provides very good betting odds across a wide range of sports. Furthermore, the bonus of £30 worth of free bets once £10 has been wagered is enticing enough to at least give Betfair a try. The size of the bonus isn’t the largest out there, but it does provide value for money, and no welcome deposit code is required. Once bets are placed, you can watch the action live via their live streaming service. This is a service that isn’t offered by many bookmakers, so they have the advantage over the competition in this department.
The negatives of Betfair include a customer service department that could be easier to reach, and in the future a larger bonus should be offered. Also, the fees associated with deposits & withdrawals at Betfair might seem unfair, since many other bookmakers don’t have these fees. However, in the face of these shortcomings, Betfair is still a bookmaker that is worth trying out. They have great odds and a range of sports to process their welcome bonus offer.
Betfair: Opinions & Experiences of actual users.
What does your Betfair sportsbook review look like? Is this bookmaker professional and does it keep its promises? Or is it, in your opinion, scamming sports bettors? Without your Betfair rating, our Betfair review is only half as good as it could be. It is, of course, especially interesting for other OpenOdds community members to hear your Betfair sportsbook review if experiences with this bookmaker differ completely from ours!