Betfair is the world's largest betting exchange.
Unlike a normal bookmaker, an exchange allows you to bet against
other punters,
with Betfair taking a commission from each winning bet. This
results in
better odds and bigger wins.
Another advantage is the ability to place 'lay' bets, which allows
you to bet on an event to NOT occur. So if Liverpool were playing
Manchester
United and you laid a Liverpool win, your bet would be a winner if
either
Manchester United won or the game ended as a draw.
Markets: Rating 5/5
Betfair boasts a huge number of markets, ranging from betting
staples such
as horse racing and football, to obscure sports such as pelota and
specials
markets, based on politics or reality TV.
A very large percentage of these markets allow in-play betting,
allowing
you to carry on betting when the event begins. This in common
place amongst
normal bookmakers for sports like football, but Betfair are even
able to
offer in-play betting on horse racing, thanks to the fluid nature
of their
betting exchange.
With the ability to back and lay, you can trade between positions,
to protect
your stake or even guarantee that you win, whatever the outcome of
the event!
No other bookmaker can offer this facility.
Prices: Rating 5/5
Betfair claims to on average provide 20% better odds than normal
bookmakers.
You won't find this much difference in the odds if you're
comparing
the favourites in a market (though Betfair does normally have the
edge on
prices), but there is incredible value on outsiders.
Remember though that you will have to pay commission on any
winning bets.
This starts at 5%, though this rate will drop as you use Betfair
more frequently.
Site: Rating 5/5
The Betfair site is very easy to navigate around, with the major
events
of the day to be found on the centre of the page, a full list of
markets
on the left hand side and in-play markets on the right.
One difference between Betfair and most other gambling sites is
the fact
that the odds are displayed in decimal rather than fractional
terms.
Because Betfair operates an exchange, allowing you to back and
lay, it would
be incredibly confusing if they displayed fractional odds. You'll
soon
get used to using decimals and in the meantime you'll find the
fractional
prices are displayed when you hover over the odds.
Bonus: 3/5
Betfair offer a £20 'no risk' bet. So if your first bet
loses, your stake will be refunded, up to a maximum of £20.
It's not the best offer out there, but the payment is made within
24
hours, with a minimum of fuss and you get access to the best
betting site
out there.
Overall: 4.5/5
Betfair have created a revolutionary product that gives you the
best odds
available and the ability to lay, which will change the way you
bet and
gives you a much better chance of making real money. The best
betting account
available.
Read our review of the top Grand National Bets and how to go about selecting your horse for the 2011 race. We'll even throw in a Free £20 Bet offer + cashback of up to £1000 for all new customers just to get them going. Can't say fairer than that can we?
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