What is Betfair?
The Betfair group of companies (‘Betfair’) offers a global portfolio of gambling products and services. This includes the world’s leading betting exchange (a concept pioneered by Betfair), which is provided in the UK. Betfair’s other betting platforms include a bookmaking operation provided from Malta and a second betting exchange in Australia.
Separately Betfair’s established gaming products include Betfair Poker, Betfair Casino and a number of exchange-enabled games. All of these are offered from Malta.
Betfair is a licensed gambling operator in the UK, Australia, Malta, Italy, Austria and Germany.
Betfair offers you unprecedented choice, value and control.
– You can bet that an outcome will happen (back) or that it won’t happen (lay).
- – You can choose the odds at which you want to play.
- – You can bet whilst the game is in play.
- – You can play on a range of products and innovative games.
What is different about betting on Betfair?
Back or lay
When you “back” a selection (be it an individual, a team, horse, dog or other), you are betting that it will win. This is just like betting with a conventional bookmaker.
When you “lay” it, you are betting against it winning. For example, if you’re betting in a market on which team is going to win the Premiership and you lay Man Utd, then if they win you pay out. This is what bookmakers traditionally do.
If you are a UK registered customer you are betting through the UK exchange, which means that your bets are being matched by other Betfair customers. In this case, although Betfair knows who is on each side of every bet matched, you never know who you are betting against, as it may be a number of people matching your one bet.
If you are registered with Betfair from outside the UK you are betting directly against Betfair rather than other Betfair customers , but in all cases your privacy and the confidentiality of your bets is maintained by Betfair’s secure site.
Choose your odds
If you want better odds than are currently available, you can place an order for a better price, but bear in mind that if your price is unrealistic your bet is unlikely to be accepted. Note that the odds available often improve nearer to the ‘off’ (or when the event starts) as interest and betting activity in the markets increases.
Who is behind Betfair?
Betfair was founded in August 1999 by Andrew Black and Edward Wray in order to commercialise betting technology that had been under development for the preceding year. The technology used by Betfair is proprietary and, as well as being protected by copyright, is the subject of patent protection in various jurisdictions.
Is betting with Betfair safe?
Your full card details are encrypted and sent over the internet only once – when you register your card.
- Your card details remain encrypted and are stored on Betfair’s secure servers.
- Betfair uses DataCash and The Royal Bank of Scotland plc as our secure payment partners.
- Betfair possesses a Verisign Class 3 Secure Server Certificate and is a fully regulated and licensed betting and gaming operator in a number of leading jurisdictions.
For further info go to Betfair