What is BetFair all about?

• Author: Ed
• Filed under: Reviews
• Date: Jul 8,2008

If you’re new to sports betting online, today we are going to provide a little information on a website known as betfair.

Betfair are an online betting exchange which basically means that they are not bookmakers, the bettors are.  It’s quite a novel principle and it is very successful.  As a result, Betfair have grown from strength to strength and are now one of the Internet’s largest online betting sites.

So – Why use a Betting Exchange?
If you use Betfair, you are instantly cutting out the bookmarker. As a result this means you can offer your own odds which mean you make more money. Betfair would have us believe that the Betfair odds are over 20% better, however given their high commission rate, it all works out just about the same, but you need to bear in mind Betfair has a larger range of sports, live betting and many, many features that make it more attractive to use compared to the traditional online bookmaker.

Betfair has a minimum bet of £2 with no maximum bet in place. They support multiple currencies and the website is multi lingual and available in the following languages English, Italian, German, Cantonese, Danish, Chinese and Swedish.

Minimum deposits for the site are £25 or whatever the equivalent is in your local currency. They support multiple deposit methods including Credit Cards, Debit Cards, PayPal, Neteller, Moneybookers, MoneyTT, MoneyWorld, Western Union, Bank Transfer and Cheques.

When you come to withdraw money from Betfair the good news is they are efficient, and the process takes approximately 2 – 5 days. This is a great turnaround and it beats many online betting websites. They also have a number of new player incentives, and overall provide good technical support.

In conclusion Betfair are to be recommended. They are an established and well known betting exchange and they are very popular. They provide a good service with many features, and they are friendly for new players. They have a strong community and they police their members well. Give them a try, and if you want a starting bonus, have a look at our partner links to the right – and join via this.

Good Luck!