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Betfair Australia Review
Betfair offers the best of everything and sports betting fans will lack for nothing when registered as a Betfair customer.
Sign up for free today to have a look around to become a part of a thrilling and unique betting experience, unlike any other on the online betting market. Read all about it in our Betfair sportsbook review.
In Australia, all gambling operations are closely regulated and online bookmakers have to adhere to strict rules or risk losing their license altogether.
Offering inducements or incentives of any kind to get customers to sign up is illegal and bookmakers have to instead make sure that they provide a quality product that gives punters good value for their money.
However, the promo code / referral code BETSAU is still available to use wen joining.
Betfair Overview
Betfair, established in 2005, is not only a sportsbook but also a betting exchange. They can proudly say that they are the world’s largest and only Australian peer-to-peer wagering platform.
This means that Betfair is an online place for people to bet against each other on events for financial gain. They also offer a LAY bet, which is exclusive to Betfair in Australia, where you don’t have to just back something to win, you can be on the other side of the bet and bet for something not to win.
Betfair operates Australia's only betting exchange under a Tasmanian Gaming Licence. Since August 2014, Betfair Australia has been fully owned by Crown Resorts, which is ASX-listed and the creators of Crown Casino in Melbourne and Crown Casino Burswood in Perth. They are licensed and regulated by the Northern Territory Government of Australia.
All Betfair’s gambling operations are governed by its Responsible Gambling Code of Conduct and by the South Australian Responsible Gambling Code of Practice. Extreme safety measures are in place to ensure its customers enjoy gambling on a secure online platform and measures include site security (SSL).
Betfair Referral Code
The latest promo code required when you join Betfair Australia is BETSAU. You insert it in the box titled "Do you have a promo code?".
Australia’s current gambling legislation prevents bookmakers from incentivising any customers to join them. As a result, you won’t find any welcome offers but do get access to top class promotions.
Betfair Australia Rating
Betfair Review Verdict
Betfair has a unique approach to sports betting with the Australian Betfair Exchange and is the only exchange betting site in the country. They have over 1 million customers around the world and is the only betting site where trading is realistic.
You are betting with and against all these customers and The Australian Betfair exchange allows you to bet both 'for' and 'against' events, which is a completely different betting experience.
A wide range of Australian and international races are covered for thoroughbred, harness and greyhound racing and the sports section is loaded with markets in over 25 different sports. Betfair is also good for popular novelty bets like US elections and reality TV show winners are also on the menu.
One special aspect worth mentioning is certainly the Lay Bet which lets punters not only back something to win, they can bet for something not to win. This feature is exclusive to Betfair in Australia.
To summerise the positives and negatives look at our highlights below:
Pros
- Better odds than most of its competitors.
- Valuable insight is available with the “The Hub” feature.
- Punters can choose their own odds on any racing event.
- Either back your horse to win, lay it to lose, or trade for a guaranteed profit.
- Over 1,000,000 other customers worldwide waiting to match your bet 24/7.
- 'In-Play' betting. You are able to bet once the event has started.
- 'Trading' is available to lock in a profit on all possible outcomes.
Cons
- Hard to use for first-time bettors.
- The exchange feature might be too complicated for some punters.
Betfair Terms and Conditions
Terms and conditions work a little differently with Betfair compared to other bookmakers and some terms may apply for one market and not another. Here are the T&Cs that apply throughout all markets with Betfair:
- Betfair does not offer any sign-up bonus to newly registered members.
- You need to be an Australian citizen and 18 years or older to register and bet with Betfair.
- Each sport and racing event has its own set of rules and T&Cs.
- Only verified account holders will be permitted to withdraw winnings from their Betfair betting account.
Betting Markets and Odds for Betfair
Betfair often offers better odds than the best price available from the Australian TAB and if you bet on horse racing then you simply must have a Betfair account.
What makes it different from any other bookmaker (which relies on a margin to make a long term profit), is that Betfair’s exchange allows you to be your own bookmaker without being affected by any bookmaker margins.
Betfair Australia is the only licensed betting exchange in Australia. Simply put, when you bet with Betfair, your betting takes place directly against other punters and their opinions, causing prices on offer to generally be higher than a conventional bookmaker.
With no margin built into the odds on their markets, the results are more valuable for Betfair customers through better odds.
Betfair Live Betting and Streaming
Betfair Live is Betfair’s own racing market watching tool and Aussie punters can enjoy events live while getting valuable insight (like the way betting markets are trending) with graphs, statistics and interactive graphics.
The live betting section also provides tools to compare the best tote and corporate prices for horse and greyhound races, gives access to detailed runner statistics, lets you see price changes in the fluctuation charts and live betting can also be accessed on the Betfair app.
Horse Racing Betting with Betfair
In addition to betting on the winning horse, Betfair is the only way to bet on a horse NOT to win. In the horse racing section, where numerous markets are available for punters to choose from, the lay and back markets for every race that is meeting in Australia and international racing markets are displayed, and futures markets are also available.
Racing bet types work differently as Betfair puts the punter in control of his betting because he has the choice to back a horse to win or lay it to lose against fellow punters (at fixed priced odds) on every market. For racing, Betfair offers in-play betting and multiple betting, and Lay, Back and Trade bets are in the order of the day.
Sports Betting with Betfair
Betfair customers have access to all international and Australian betting markets and overall, compared to other bookmakers, Betfair’s sporting selection is greater. All major leagues and sports are catered for and for each fixture there are many betting markets available.
Besides the top 5 sports listed below, Betfair offers hundreds of markets on golf, MMA, volleyball, swimming, ice hockey, Gaelic Games, winter sports, athletics, motorsports and baseball. A variety of markets are also available on Esports, financial markets and a huge range of international and Australian politics to wager bets on.
Here are the top 5 sports to bet on:
- Football
- Tennis
- Soccer
- Rugby
- Basketball
Football Betting with Betfair
American football (NFL) is a very popular sport to bet on and Betfair offers a fair amount of markets for football enthusiasts. On Australian Rules, there are several markets on the AFL as well as woman’s AFL. Various soccer markets are available both internationally and in Australia. Top leagues and tournaments include the EPL, A-League, Champions League, and FIFA World Cup.
Esports Betting with Betfair
Most established bookmakers can’t afford to not have a good Esports section and Betfair customers who are also gaming fanatics will be very pleased with what is on offer.
For League of Legends, there are markets for CBLOL Split Season, TCL Season, LCK, LEC, LLA Season and League. Counter-Strike (CS:GO) Blast Premier and Thunderpick Bitcoin Series are available as well as Dota 2 Champions League.
Betfair Live Betting
Live in-play betting is easy with Betfair and customers can place their bets by contacting the betting telephone line while watching a game live on the Betfair betting app or on the desktop platform.
Betfair Mobile Betting App
Betfair recently launched a brand new Betfair app and it is faster and easier to use than the previous version.
They completely redesigned the Exchange experience and the app looks sleek, is easier to navigate and allows bettors to access markets quicker with easier navigation and stunning new performance.
With the new Betfair app, betting is made easier than ever before and the new bet slip functionality enables punters to manage matched and unmatched bets with ease.
You can download the Betfair iOS App by heading to the Apple iStore or enjoy the betting experience on your Android by downloading the Betfair Android App from the Google Playstore.
Betfair Payment Methods for Australia
Numerous payment methods are available to Betfair customers other than Visa and Mastercard credit and debit cards. You can also deposit funds at Betfair via BPay, NAB, Bank Transfer, Credit Union Transfer, Neteller, and Moneybookers.
Top 5 payment methods at Betfair Australia:
- Visa/MasterCard
- BPay
- NAB
- Neteller
- Bank Transfer
Other than making use of a bank transfer, funds should reflect in your betting account without delay.
How To Deposit with Betfair
Making your first deposit with Betfair is easy and can be done in three easy steps:
- Step 1: Register an account and log in from your desktop or mobile device.
- Step 2: Fill out the required fields in the deposit section after choosing your preferred deposit method.
- Step 3: Follow the prompts and start betting as soon as your funds reflect in your betting account.
Most payment options allow funds to clear in your betting account immediately. Bank transfers may take up to 48 business hours to reflect before you can bet with Betfair.
How To Withdraw from Betfair
Withdrawing funds from Betfair is just as easy, but follow these easy steps if you are unsure of how to withdraw from your Betfair account:
- Step 1: Log into your account (from your desktop or mobile device)
- Step 2: Go to your account section, select the withdraw option and withdrawal method.
- Step 3: Follow the prompts and withdraw the desired amount.
You can only make withdrawals once all bets are settled in full, and only if your account is fully verified with Betfair.
Betfair Customer Service
Betfair has a dedicated Contact Center that is based in Darwin and available to all Betfair customers 24/7. Their highly trained helpers are there to help and want you to get the most out of your betting experience.
Get in touch with them through any one of their many channels:
Website: betfair.com.au
Telephone betting Australia: 132 bet (132 238)
Helpdesk Australia: 1300 betfair (1300 238 324)
Telephone Betting NZ: 0800 567 002
Helpdesk NZ: 08 0023 8324
Email: [email protected]
Betfair International AUS: +61 132 238
Email: [email protected]
Postal Address: GPO Box 1065, Darwin City, NT 0800.
Twitter: @betfair_aus
Facebook: BetfairAustralia
LinkedIn: Betfair-Australia
A very useful service, especially to inexperienced punters is the Betfair Hub which has a whole library of related articles and Betfair Education Videos where customers can find out how to back, lay and master Betfair.
All client service interactions are monitored by Betfair 24/7 to ensure that clients receive the best possible service at all times.
Betfair’s Responsible Gambling Initiatives
Betfair wants its customers to bet responsibly and wager in moderation. Betting should be seen as a form of entertainment, and it's important to Betfair that its customers enjoy betting in a safe and secure environment.
Betfair encourages responsible gambling by offering pre-committed limits (deposit and loss limits), taking a break from gambling (time out or self-exclusion options) and offering support and advice online.
Betfair Australia Summary
In conclusion, Betfair Australia stands out as a unique and innovative betting platform, offering punters the opportunity to both back and lay bets through its exchange system.
With competitive odds, a wide range of markets, and exclusive features like the Betfair Hub, it provides a distinctive betting experience for both novice and experienced bettors. While the exchange concept may take some getting used to, the potential for better odds and more strategic betting makes it worth exploring.
If you're considering joining Betfair, be sure to check out the Betfair Australia code to get access to their current offerings. For those still weighing their options, our comprehensive guide to the best betting sites in Australia can help you make an informed decision about which platform best suits your needs.
Betfair Australia FAQs
Why should I bet with Betfair?
NewBettingSites highly recommends that you try Betfair as they are one of the leading online bookmakers in Australia. They are home to an enormous range of markets for both horse racing and sports betting and have numerous features and promotional offers to award their loyal customers.
How safe is it to bet with Betfair?
Betfair Australia is licensed in Tasmania and regulated by the Tasmanian Gaming Commission. Even though it works on a betting exchange platform, the same strict regulations apply to Betfair so you can be sure to have a safe betting experience with them.
How is Betfair different?
Betfair is different as you are not making your bets directly with them, they simply provide a platform for you to either back or lay bets along with fellow customers worldwide. They take a small commission from any winning bets, and because there is no bookmaker edge built into the prices on offer, you will invariably find larger odds to bet with on Betfair.
Where are the Betfair odds?
Each betting market displays the odds on the right-hand side of a certain market and default odds are in the decimal format but you can change this in the Betfair settings. On the left, the best odds available for back bets are displayed, and on the right, the best odds available for Lay bets are displayed.
What if nobody takes my lay bet or back bet on Betfair?
If this occurs, your bet stake will be refunded to you in full. If somebody only matches your back/lay bet by half, or a quarter (or any fraction), the unmatched portion of your bet stake will be refunded to you.
What does the matched $ amount mean on Betfair?
The matched AUD ($) amount displayed on the top right-hand corner of a given Betfair market represents the amount of money that Aussies have backed and laid on the game in question. Because all back bets have been matched by lay bets and are ‘live’, all bets are, therefore “Matched”.
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