Betfair Sports Betting is one of the largest online sports betting exchange in the world and it was also one of the first online betting platforms to be established in 2000.
Since that time, it has grown at an exponential rate and has established itself as the leading sports betting player in many countries and regions of the world.
Today, we’ve decided to analyse this platform and do our Betfair Sports Betting review and this article will contain a thorough review of Betfair focusing on all the strengths and weaknesses of that the platform has for young aspiring sports bettors.
BetFair Sports Betting Review: Here Is What to Expect
- Name: Betfair Sports
- Website: BetFair.com/Sports
- Bonuses: €40 free bet on first bet of €20.
- Minimum Deposit: £10/€10
- Ratings: 04/05
A Brief Look Into Betfair Sports Betting
Betfair has become synonymous with online sports betting and as a company it gets the credit for revolutionizing the sports betting industry as it was one of the first online sports betting sites which was established in the "dotcom boom" of late 1990s and early 2000s.
Unlike many other similar services, Betfair successfully faced each and every challenge and emerged as the largest sports betting site from the technology and internet meltdown which came immediately after the dotcom bubble burst.
Betfair is known for its casinos, gambling, live casino, bingo, poker and betting exchange operations worldwide in addition to its sports betting offerings.
Unlike other bookmakers and online betting sites, Betfair has the advantage of having its own licensed betting exchange.
This allows them to provide the best winning odds to their customers as bookmakers normally exploit the difference between the winning odds provided by a betting exchange to earn a profit from their customers who are placing bets via them.
As compared to other betting exchanges, bookmakers are known to provide less efficient odds and many punters prefer betting exchanges over bookmakers due to better odds of winning.
In addition to online sports betting, Betfair is a well-recognized name in the online gambling industry and is regulated across all the jurisdictions in which they operate. Thus, you can be sure about the safety of your funds when placing a bet via Betfair.
Sports Betting Offerings / Markets
Which betting markets does Betfair Sports offer?
Betfair has one of the most varied selection of sports betting offerings and they allow you to bet on almost all the popular sports such as:
- American Football
- Australian Rules
- Gaelic Games
- Greyhound Racing
- Horse Racing
- Mixed Martial Arts
- Motor Sport
- Rugby Union
In addition to these sports, Betfair is also known for offering a wide variety of virtual sports such as:
- Horses- Flat
- Motor Racing
With Betfair, you can also easily place In-Place bets on events/matches which have not ended and are still in progress.
How To Place A Bet With Betfair Sports Betting
Placing a bet with Betfair Sports is extremely easy as Betfair is known for the ease of use of its web based sports betting platform and even a novice can place a bet after following few simple steps.
The first step for a newcomer to Betfair is to register for an account by visiting the website Betfair.com. Betfair’s registration process is extremely simple and the whole process of registering an account will take a few minutes in most of the cases.
Your second step is to deposit funds into your newly registered account through a Betfair approved payment method.
Betfair supports a number of payment methods and almost all popular debit and credit card providers such as Visa, MasterCard, American Express etc. are supported (full list father down below in this review).
The minimum deposit amount can vary depending on your location, type of deposit method selected etc.
In most cases, you’ll either have to deposit a minimum of 10 GBP or 15 Euro. Although, Australian users also have the option to deposit 5 Australian dollars via some specific deposit methods.
Once the account has been funded with an initial deposit you may immediately place a bet on your favourite sports via the Betfair site.
Placing a bet via Betfair is extremely easy and you will just need to click that “place the bet” button after selecting the sport and filling up the amount to bet for placing a bet.
After placing a bet worth £10 or more you may be able to see the sign-up bonus of £30 if you meet all the terms and conditions which will allow you to place 3 bets worth £10 each.
This sign-up bonus is subject to some terms and conditions, but a newcomer is rarely refused the sign-up bonus as most of the new joiners already meet the terms and conditions specified for the sign-up bonus.
Betfair’s Customer Service: Can They Help?
Betfair has a 24/7 customer support service manned by English speaking Betfair brokers and customer care representatives with local numbers for the UK, Ireland and Australian markets.
Betfair customer service can also be reached via twitter, Facebook, email in addition to phone.
I have never needed customer care support personally as everything is easily explained on Betfair website and you can easily troubleshoot through an issue without calling or writing to customer service.
But, you can be assured that in case of an issue Betfair customer service is just a tweet or phone call away.
Betfair Mobile Apps
Betfair maintains a number of mobile apps which can be easily accessed over most popular smartphone and tablet platforms such as Android, iOS, Windows, Linux etc.
Betfair has separate apps for people placing bets and those using the exchange based services as not all users are sophisticated enough to use the opportunities provided by Betfair Exchange.
Betfair Sportsbook free app is the most widely used Betfair Betting app as it allows a user to place bets on most types of sports and can be downloaded from the Android Play Store or Apple App Store.
What Deposit Methods Are Available?
Betfair supports a wide range of payment options which can be used for depositing and withdrawing money from your Betfair account:
- Money Bookers / Skrill,
- Visa Credit Card,
- MasterCard Credit Card,
- Bank Transfer,
- Visa Electron,
- Debit Card,
- Web Money,
- Western Union,
- Maestro Debit Card and
- many more.
Deposit methods available also depend on the country of your residence as some deposit and withdrawal methods are available only in some particular countries.
How To Withdraw Your Winnings From Betfair Sports?
Withdrawing funds from your Betfair accounts takes just a few clicks. Just hover over the "My Account" option found at the top right hand section of the Betfair website.
Once you click the My Betfair account option, a new window will open where you will see the payment tab. You can select the withdraw option suitable to you from the displayed options.
Deposit & Withdrawal Times Of BetFair Sports
Withdrawing funds, depositing and withdrawal times may vary at Betfair and can be affected by a number of factors:
Many people complain of long withdrawal times when withdrawing to credit cards, but this issue has nothing to do with Betfair as in most of the cases funds deposited by credit card are immediately credited to the Beneficiary account from the card processing companies.
In cases of withdrawal even other betting sites give a similar time frame for the funds to be credited to your credit card account.
Check in advance regarding the deposit and withdrawal times via your preferred deposit or withdrawal option to avoid any unpleasant surprise at the last moment.
Withdrawing times normally vary from 24 hours to 2-3 days but some withdrawal options may take up to 5 or 7 business days for the funds withdrawn to be credited to your account.
Nonetheless, most of the transactions are processed within 2-3 working days and it’s rare for a withdrawal to be processed after 5-7 days.
The Min / Maxi Deposit & Withdrawals Allowed
Minimum and maximum deposit and withdrawal limits also depend on the method chosen and can vary greatly due to several factors. Betfair’s minimum deposit amount is £10 or €15 in case of most allowed deposit methods with no maximum deposit limit.
Withdrawal limits are a bit complex as almost each and every withdrawal method has its own minimum and maximum withdrawal limit. Although, it’s certainly possible to withdraw sums below £10 or €10 via a Visa Credit Card or to a Neteller account.
Most withdrawal methods require the amount you want to withdraw to be greater than £10 and there are also maximum limits in place which can vary greatly from €8,000 and upwards towards €50,000.
Some withdrawal methods don’t have any maximum limit and at least in theory you can withdraw an unlimited amount through these withdrawal methods.
Are There Any Fees To Look Out For?
Depositing and withdrawing funds to (and from) your Betfair account can also involve some fees set by payment processors. As in the case with most credit cards; a fee of 1.5% is applied by Betfair to cover the fees paid by the company to card processors.
Although, most deposit and withdrawal methods remain free of cost to use and in most cases, you’ll not have to pay a fee for depositing or withdrawing money from Betfair.
Betfair Sports Starter Bonuses
Betfair Sports offers quite attractive bonuses for starters and is currently offering a bonus of €40 for your first bet of €20. You can use these bonus funds of €40 for placing 4 bets of €10 each.
This starter bonus is available to everyone who registers for an account with Betfair and then places a bet worth €20 by depositing funds into his Betfair account via an approved deposit method.
In addition to this, Betfair is also known for announcing new bonuses for starters on a regular basis and you must check at their website before signing up for an account as they may be running a special promotion for starters in addition to the €40 for €20 deposit discussed above.
Who Is Betfair Sports Perfect For?
Betfair Sports is good for most people who are interested in placing bets on their favourite sports.
It is easy to use for the starter and at the same time, the betting exchange feature appeals to a number of experienced punters who may be betting as professionals or just for fun.
The huge variety of sports offered in addition to much better winning odds will certainly appeal to the majority of people who are interested in online sports betting and due to this reason Betfair Sports is regularly used by millions of sports betting enthusiasts across the globe.
Overall, we are giving a rating of 4/5 to the Betfair Sports betting platform due to various features discussed in detail above.
Unlike other bookmaking sites, Betfair has its own betting exchange which allows them to give better winning odds to you, their platform is safe, secure and easy to use, and last but not least;
Betfair has one of the widest known collection of deposit and withdrawal methods which allow almost anyone to deposit and withdraw funds with ease.
Some consider the Betfair website to be primarily intended for professionals, but statistics prove that numerous starters have used Betfair to jumpstart their careers in sports betting and as a betting exchange, Betfair has a number of success stories associated with it as numerous professional bettors and gamblers owe their success to Betfair.
How To Join Betfair (& Claim Your Bonus)
- If you're from the UK and Ireland, join BetFair here.
- If you're from Croatia & Iceland, join BetFair here.
- If you're joining from Russia, join BetFair here.
- If you're from Asia or Africa, claim your BetFair bonus here.
- For international markets, you can sign up to BetFair here.
If you enjoyed reading this Betfair Sports Betting Review, then don’t forget to subscribe to our website as we will be publishing more reviews of online betting sites in the next coming days keeping you updated with all the ins-and-outs of the online sports betting industry.