Review of Betfair
Starting out around the turn of the century, Betfair initially focused exclusively on their revolutionary Betting Exchange, where players get to be their own bookies, and they have managed their first-mover advantage well, and are to this day the only serious betting product of its kind, handling more than five million transactions daily.
In short, the Exchange, is about betting against other players rather than Betfair; Choose an event, pick some kind of outcome(s) and your odds, and see if someone is ready to take your bet. Or approach it from the other direction and browse the Exchange in search of another player’s bet. Betfair’s role is that of an arbiter and platform provider and take a small commission on each settled bet (from the winning player).
Betfair is not all about the exchange - In-play odds are also very competitive
It is hard to see any conventional sportsbook being able to offer anything close to many of the betting opportunities found at the Exchange, it would simply not make any commercial sense to take on the type of risk, but you will be surprised how many punters out there are both able and willing.
Although Betfair’s core focus is on the Exchange players will also find conventional sports betting, with a sportsbook bursting with in-house odds at competitive levels. There will be thousands of odds markets available on any given day, with horse racing and golf odds standing out as particularly good. Additionally it is worth pointing out that if you are betting with Betfair you should make a habit out of keeping an eye on the many daily odds boosts, these greatly improved odds are neatly presented in the right-most column in the main sportsbook view.
In 2016 Betfair joined forces with Paddy Power, and this merger created one of the UK’s biggest gambling companies, ‘Paddy Power Betfair’ which then changed its name to the tad sexier ‘Flutter Entertainment’ in 2019. Flutter is traded on the London Stock Exchange and gambling with a public company is always a safe and solid choice.