betfair Review

History, Location and Licence

Betfair was launched in the UK in 2000. It is primarily a betting exchange, although it acts as a bookmaker for its multi betting and Tote products. The service enjoyed a meteoric rise and in 2003 the company was a recipient of one of the Queen’s Awards for Enterprise (the UKs highest official awards for business). As part of its overseas expansions, Betfair commenced obtaining licences offshore, first in Malta and then in Tasmania in 2005, making it the only betting exchange to hold an Australian licence. In 2010 Betfair was floated on the London Stock Exchange and in 2011 it shifted its UK licensed service to Gibraltar to reduce its tax liabilities. In addition to exchange and Tote betting, Betfair also offers casino and gaming services.

Bottom Line

When it comes to a betting exchange, bigger is better and Betfair dominates in this regard, boasting 90% of global exchange activity. The exchange platform takes time to get used to but it’s well worth the effort. The ability to bet both for and against outcomes makes hedging incredibly easy. Betfair’s other big strength lies in tournament betting. The tournament winner odds are far superior to those offered by bookmakers and the back/lay feature enables you to lock in profits and limit losses. Betfair also offers better value in Correct Score markets than bookmakers. While Betfair does offer a Multi betting platform, the odds and market selection isn’t nearly as competitive, so multi betting enthusiasts should look elsewhere. Betfair is not ideal for beginners, however experienced punters will revel in the ability to play the role of both the punter and bookmaker. We highly recommend Betfair to serious sports betting enthusiasts and to those who enjoy tournament winner and correct score betting.