Established in 2000, Betfair is one of the most experienced bookies with a long and eventful history. This England-based sports betting service supplier is a massive brand in the UK and globally. In addition to the headquarters in Hammersmith in West London, Betfair also boasts offices in Clonskeagh, Dublin, Ireland.
In 2016, Betfair united powers with Dublin-based Paddy Power and merged into Flutter Entertainment as of February 2016. Preceding the merging, Betfair was listed on the London Stock Exchange as Betfair Group plc. In this Betfair bookmaker review, we will list all vital points regarding this bookie, as well as highlight its advantages and potential flaws. Expect a thorough and unbiased analysis of Betfair.
Betting on a Whole New Level
Betfair is an innovator of a special kind. Every year of its existence, and activity in the industry, was packed with positive changes and innovations. Soon after it was founded, Betfair included live betting and a mobile version of the website.
In 2007, Betfair introduced its own Betfair Radio service and thus provided commentary on all ongoing horse races. It also published results through the service. Two years later, in 2009, Betfair purchased the TVG Network in the United States. Fixed-odds betting for Betfair was introduced in 2012. That’s when Betfair started its competitive journey against traditional sportsbooks.
Alongside the bookmaker services, Betfair offers an online casino and a live casino. In 2014, Betfair inked a deal with Stockholm-listed casino games provider NetEnt. Helping NetEnt to spread its outreach in the regulated UK market, Betfair also furnished its game portfolio with incredible online slots, table games, poker and live dealer titles.
Betfair offers help and additional bookie-related services to its clients 24/7. Besides, you can even bet over the phone thanks to the telephone betting service. This facility of Betfair’s is manned by English-speaking brokers around the clock. If you’d like to take part in telephone betting, be prepared to stake at least $50 or more. There are separate phone numbers for players residing in England, Ireland and Australia.
This incredible online gambling brand is big on sports trading and the betting exchange. Betfair partnered with famous actor Clive Owen on a promotional campaign for its Betfair™ World's Biggest Betting Exchange. Thanks to this option, players are allowed to bet not only against the bookie for fixed odds but also against fellow punters. Seek your ideal odds at Betfair and choose the ones that work for you.
Speaking of partners, other than Clive Owen, Betfair is happy to work with its numerous official betting partners. Some of the most notable names include Real Madrid CF, CONMEBOL Sudamericana and CONMEBOL Libertadores. Betfair continues to rise with every waking day.
Licensing & Safety
The reputable brand it is, Betfair possesses a number of important licenses. The two principal ones are those issued by the UK Gambling Commission (UKGC) and the Malta Gaming Authority (MGA). Furthermore, gambling activity on the premises is regulated by the Danish Gambling Authority (DGA), ADM, Directorate General for the Regulation of Gambling (DGOJ) and OJIN.
In terms of your protection, Betfair secures all your monetary transactions via the SSL protocols. The Secure Socket Layer complex encrypts all financial movement at Betfair, so no one can access your confidential data.
Regarding protecting from problem gambling, Betfair works with GamStop, GamCare and GamblingTherapy.org. All in all, Betfair does a fascinating job making the bookmaker reputable, safe and trustworthy.
Deposit and Withdrawals
This Flutter Entertainment brand, much like its sister firms, makes banking very easy. Betfair accepts a broad range of payment methods. These banking options include credit and debit cards, electronic money wallets and bank wire transfers. The cards accepted at the premises include Visa, MasterCard, Visa Delta Solo and Visa Electron. All of these are available for both deposits and withdrawals.
It is easy to deposit at Betfair. To insert funds into your Betfair account, log in and click on the Deposit button. Every payment option is displayed on the Payments page. How do I deposit at Betfair has now been answered.
As far as e-wallets go, you can utilize Neteller, Skrill (Moneybookers), PayPal, Russian Web Money, and Paysafe Card. Deposits are instant, while withdrawals take up to 12 hours. Credit and debit cards, as well as bank transfers, process requests between 3 and 5 working days.
What aspect of a bookie, other than markets and odds, do you find vital? If you ask us, it is god customer support that makes the whole journey worthwhile. Betfair boasts one of the most efficient and kindest client support teams. They are open for business 24/7, and they provide answers in multiple languages. This gives the bookmaker an international vibe that many players appreciate.
They offer a few methods of contacting their representatives. Some of the more convenient ones would be:
24/7 Live Chat: There is no bad time for questions. Betfair’s helpful and jovial agents operate 24 hours a day, 7 days a week for your convenience. The live chat facility is one of the most popular communication options. It is due to its efficiency that most players opt for it. A whole team of agents wait for your question around the clock. Take this opportunity and chat way! You can use the live chat in your native tongue.
Email Support: Additionally, Betfair customer support reps reply to emails within 24 hours. Email service can be used by both clients and non-clients, unlike live chat.
Online inquiry form: Similar to email, you can drop Betfair a line directly on the website. On the help page, you can fill out the inquiry form. Make sure to include your email address; that’s where you’ll get your response. The typical response time is within a few hours, up to 24 hours.
Telephone: If you are the talkative type, you’ll likely ask for the phone. The telephone number of Betfair is 00 44 20 3059 8888. Give it a ring any time, and a helpful agent will pick up on the other side.
FAQ:When a bookie operates for so many years, its employees compile a lengthy list of answered questions. They are all neatly arranged on the FAQ page. You can also filter the FAQs by categories – banking, placing a bet, cashing out, etc.
Social media: It’s the 21st century and everyone’s on social media. You can message Betfair on Facebook and tweet them on Twitter, again around the clock.
As indicated, you have a broad range of communication methods at Betfair. Any type of player will find a way to reach out to the customer support, anytime.
Market & Odds
In terms of markets and odds, Betfair goes unrivalled. This superior bookmaker established in 2000 offers an enormous selection of various markets. The most popular fields at Betfair include football (soccer), horse racing, tennis, cricket, darts and MMA. The bookie accordingly offers the best odds for these sports.
Speaking of odds, Betfair came up with its trademark Betfair Exchange. In contrast to the traditional fixed odds betting, Betfair allows you to bet up against other punters. This way, you get to find the best odds that suit your wishes and face your fellow bettors. As Betfair themselves put it, they give you more ways to bet and thus more ways to win. Sports trading is a popular discipline and a growing number of punters are taking part in it.
Regarding football, you can learn about all the fresh and ongoing matches. Betfair has a detailed schedule of all key events. The most important competitions at Betfair include the English Premier League, German Bundesliga, French Ligue 1 and UEFA Europe League.
Besides dozens of sports markets like Gaelic Games and motor sports, you can join special bets. These encompass seasonal competitions, politics and TV events. At the time of writing, I’m a Celebrity is quite popular, so you can bet on it. Among special bets, you will also find predictions on whom the next James Bond would be, as well as the upcoming Grammy winners.
Betfair is particularly proud of its in-play betting services. This bookmaker was among the first in the industry to feature on-running betting or live betting. The functionality was introduced in the early 2000s, and Betfair was one of the first to adopt it and present it to its clients. Needless to say, in-play betting at Betfair became an instant success.
With in-play betting, Betfair allows you to take just the right moment and join the game or race when you feel like it. The days when you had to place a bet in advance are long gone. Nowadays, you are more than welcome to place a wager mid-game and watch your smart, thought-through move pay out.
Or maybe you forgot the schedule and were late for the match. No sweat, just click on the in-play button in the upper left-hand corner. You can place a bet any time before the game ends. It’s never too late at Betfair.
Betfair Live Streaming Offer
For all of its loyal customers, Betfair has prepared a live streaming service of sublime quality. You can watch just about any match, race or game in real time. What’s more, you can do so on any device – mobile, tablet or desktop. You can enjoy a full HD experience on full screen.
However, you need to be registered with Betfair to gain access to the live broadcast. Additionally, you need to place a bet on the appropriate discipline in order to enjoy it on the live stream. Once that’s been done, you can revel in Betfair live streaming completely free of charge. The Betfair broadcast features dynamic camera angles, close-up action and sound effects that follow the game. You won’t miss a moment of the competition and you’ll feel as if you were a spectator.
Betfair Bookmaker Margin
In today’s online gambling, there are fixed odds bookies, and there’s Betfair. The London-based bookie has tailored online betting to meet the players’ needs. They switched from traditional betting, which includes you betting against the bookmaker. Instead, Betfair allows players complete control over their gambling by offering the Betfair Exchange. This way, you get to gamble against fellow bettors, who share the same passion and love for sports and betting.
The Betfair Exchange approach removes the need for the traditional margin. However, if you are into fixed-odds, you can do that, too. As far as Betfair’s margins go, the average Betfair bookmaker margin totals 5.99%. This ranks Betfair among user-friendly bookies all in all. The most favourable margins are found for baseball (3.69%) and basketball (4.44%).
At the end of the day, there are few bookies that boast such rich and diverse history like Betfair. It is factually the fairest bookmaker to gamble at. It takes up a notch the whole industry by providing the Betfair Exchange. We love to see innovation in a bookie, and Betfair never fails to amaze us. This sports betting services provider has been around for almost 20 years. Each of those years was packed with important events, big changes and advancements. Betfair has come a long way since its beginning in 2000.
Betfair offers fixed odds but does not stop there. You can bet against other punters by taking part in the incredible Betfair Exchange. This is an inventive, trademark feature invented by yours truly, and in it lies the future of online betting. Furthermore, Betfair has the biggest collection of markets and the best odds in the industry. You can place bets on any sport, competition, race or contest, anytime, anywhere. At Betfair, you can participate in in-play betting and feel the real thrill. The bookie’s helpful customer support will have your back every step of the way. They at Betfair are open for business 24/7.
What’s more, Betfair comes embellished with a marvellous online casino and live casino, which you can try out 24 hours a day. On top of it all, the best welcome offers are found in both the bookie and the casino, so you are welcome to join every day. Don’t miss this chance and become part of the world’s leading online bookmaker.
Betfair New Customer Guide
After all that has been said and done about Betfair in this comprehensive Betfair review, we wouldn’t be surprised if you asked to become a customer. Luckily for you, the process is easy and super quick. It will take you up to 10 minutes, and it largely depends on how quickly you can type. All in all, becoming a Betfair client is a smart decision. Follow our easy how-to guide and you’ll be on board SS Betfair in no time.
- Open https://www.betfair.com/ in your preferred browser.
- In the upper right-hand corner, you will see a black Join Now button.
- When you click the button, the registration page will load for you. It might open in a new window.
- Prepare your national ID or passport in advance as you’ll need them in a couple of minutes
- The sign-up procedure at Betfair is divided into two steps: your details and your Betfair account. First, you will need to fill out your personal data.
- Enter your full name, date of birth, gender, postal address, country and phone number.
- Then select your currency and create a unique username and password. Choose your security question and answer it. Keep this information private and confidential.
- Make sure to claim your Betfair welcome new player bonus.
- Decide if you’d like to receive notifications and newsletter. Comply with the terms and conditions.
- Click on Join Now. Betfair will send you a verification email.
- Click on the link in your email and your Betfair account will be automatically activated. Good luck!
In these 11 easy-to-follow steps you will become a Betfair customer. When in doubt or if you have an inquiry, reach out to the efficient customer team which will reply to you in a timely manner. Becoming a Betfair customer is your first step towards the supreme, top-class online betting experience.
Betfair review FAQ
- How Betfair works?
- How Betfair Lay works
- How Betfair Trading works?
- How Betfair Odds work?
- Betfair – how long do withdrawals take?
- Betfair – what is the migration question?
- What does ‘back’ mean on Betfair?
- When does Betfair take a commission?
- How much does Betfair take on commission?
- What are Betfair Points?
- Can Betfair close my account?
- Can Betfair detect a VPN?
- Where is Betfair legal?
- Why was Betfair closed in India?
- Will Betfair come back to Canada?
- Who owns Betfair?
- Who founded Betfair?
- Who regulates Betfair?
- Which currencies can I use on Betfair?
- Is it safe to bet at Betfair?
- What is Betfair cash-out?
- How long does it take to withdraw money from Betfair account?
- What is Betfair maximum payout?
- Why does Betfair limit accounts?
- Why does Betfair need my passport?
How Betfair works?
At first glance, using a betting exchange is not much different to what you might be used to with fixed-odds betting sites. However, regular sportsbooks have bettors betting “against” the bookmaker, while exchanges are places where users can bet one against the other.
Essentially, an exchange pairs up two punters looking to wager on the opposite results of the same bet. Firstly, one user takes the role of the bookmaker and “lays” a bet – they propose a bet on any selection they want and set the odds. Other users may then choose to accept (“back”) the betting offer at the odds set by the first punter.
This method of setting odds and betting offers has had profound effects on how it all works. For instance, betting exchanges don’t make money by relying on punters losing or bookmaker margins and overround. Instead, they take a percentage-based commission on all winning bets. Essentially, the winner of the matchup pays out 5% to the company. As a direct result, you can get better odds on Betfair than on any other online sportsbook. Another upside to this is that you'll never see your account closed or suspended for winning too much.
Because there are millions of Betfair users posting new offers every second at different odds, Betfair has developed into a sort of marketplace for sports bettors. The odds on different selections constantly drift and change as a result of people trying to find better offers, and people laying different odds to meet the demands of the market. This has resulted in a living bet economy – which you can read more about further down in the question about bet trading.
There are some downsides compared to traditional bookies, though. For example, multiples are only present in a severely limited capacity. Secondly, you have to be a savvy bettor to consistently outplay other players – a regular bookie will take a bet no matter how negative the value is on their end, while Betfair users can afford to pick and chose which bets they want to offer.
How Betfair Lay works
Placing wagers is only half of Betfair – the other half is making offers for others to take in a process called “laying” bets. There are many similarities to regular punts, but the approach is the opposite. The main idea is that you're essentially betting against a particular outcome. For example, in a typical 1x2 football bet, laying a “Home Win” bet means that you’re hoping any outcome except a home win will come true. That way, bets on exchanges aren’t limited to markets with only two possible outcomes.
Laying bets enables you to choose the odds for the selection. Of course, this is a careful balancing game – if you set the odds too low, no-one will back it. If you set them too long, on the other hand, you’ll lose a lot of value right out the gate. The simplest way to do this is to just look at what other users are doing and place the odds at their current level. However, the odds drift and change all the time, so it can be a complex issue if you want to get the most out of the experience.
The process of laying bets on exchanges has become a sort of science of its own. The same old concepts of betting value need to be looked at from a new perspective for the best results.
How Betfair Trading works?
Because the current best odds on the Betfair exchange change all the time, one of the ways people make profits on the platform is by buying and selling bets. Betfair was invented to mimic the stock exchange. We'll use an example to illustrate how this works.
Imagine you lay a bet at odds of 2:00 for £10. If someone were to back this bet, they would need to put up a £5 stake. Now imagine that, because of form or stat fluctuations, the odds on the same bet eventually drift to 4:00. At this point, the winnings for this bet would hypothetically be £20 – which is the amount someone would need to put up if they wanted to lay the same selection at this point in time.
You could instead choose to “sell” the wager to someone looking to lay it at these new odds. Since your bet is now valued at £20, you could immediately make a £10 profit before the match even starts. Of course, you would need to make a better offer for someone to actually buy the bet instead of laying a new one – £18, for example – but this would still be a completely risk-free way of making a profit on Betfair.
Just use basic knowledge about stock markets to get the gist of it. IF you’re trading laid bets, the idea is to buy low and sell high (in terms of odds). On the flip side, if you’re trading in backed bets, you’ll want to buy at long odds and sell at short odds.
Some users chose to completely focus on this side of Betfair. As a result, there is a vibrant wagering economy on the site which can offer a completely new experience with online sports betting.
How Betfair Odds work?
Betfair odds work much like a stock market exchange. In essence, the value of a bet is as high or as low as someone is willing to pay for it. As such, the current odds on a selection are dictated by the longest odds someone was willing to lay them with.
Conversely, if you’re looking to lay bets, the shortest odds are the ones someone is willing to back them on. All of this results in significant changes over time, especially if important events that affect form or a selection’s perceived chances of success take place. Some players chose to focus on the whole ‘buying and selling’ aspect of it all, but a lot of it comes down to speculation.
Because the odds are ultimately dictated by popular perceptions of how likely an outcome is, gauging public opinions is one way to go if you’re trying to predict how odds will drift on Betfair. Still, reliably predicting odds shifts is a game unto its own, and there is no easy way to do it.
Betfair – how long do withdrawals take?
Withdrawal times on Betfairgenerally depend on the payment method you chose to get the cash on to your account. Card payments are relatively slow and may take anywhere between 2 and 5 business days.
UK Express Bank Transfers are processed the next working day.
All other bank transfer options are considerably slower. UK Standard Transfers take between 2 and 3 days, while all other bank transfer options may take between 2 and 5 working days. However, this method also has to take into account the bank’s policies and processing times. As such, some transaction requests may take even longer.
E-wallets and online payment systems are the quickest, as is to be expected. Skrill, Paypal, Neteller, WebMoney, and Qiwi all take between 4 and 24 hours to be fully processed. The only exception to this is Apple Pay, which needs between 2 and 5 business days.
Betfair – what is the migration question?
The migration question was implemented as a way of safely migrating accounts from BlueSquare to Betfair after the former was acquired by the latter. It is a 16-digit code passed between the two passwords used to identify accounts.
BlueSquare was an independent online sportsbook brand that closed its doors back in 2013. Unless you’re one of the former users of this site, the migration question should not be appearing for you. In any case, you should contact Betfair customer support to deal with the issue.
What does ‘back’ mean on Betfair?
This is the term used for accepting betting offers placed by other players. You can find more detailed information in the “How Betfair Works” section of this FAQ.
Backing is very similar to wagering on fixed-odds with regular bookmakers – at least on a surface level. Still, the changeable nature of Betfair odds means that waiting for better odds is sometimes the best option. The main goal here is to get the longest odds possible on a selection. Additionally, backed bets can be traded between players just like laid bets. You can find more information above, on the question that deals with Betfair trading.
When does Betfair take a commission?
Because players are wagering one against another, Betfair does not make money the way other bookies do. Usually, top bookmakers profit from a combination of losing bets and making use of bookmaker margins which shift the odds in the bookie’s favour and ensure a profit no matter the result.
Betfair, instead, takes a commission on winning bets. That means that you are only charged a commission if you win the wager, and it doesn’t matter if you laid it or backed it. Also, the commission is charged only on profits and not the initial stake. For instance, if you made a £100 bet on odds of 2.00 at a commission rate of 5%, your total returns would be £195.
How much does Betfair take on commission?
The size of Betfair’s commission depends on several factors. Firstly, all users have a default commission rate which is based on where they are from. This is called the Market Base Rate (MBR), and it is used as a starting point for determining the final rate. It is also the highest rate possible because all further adjustments only serve to lower it.
The Market Base Rate has three groups. If you are from Armenia, Albania, Croatia, Monaco, Serbia, Montenegro, or Slovakia – your Betfair wagers are subject to the highest possible MGR of 7%. Conversely, players from the UK, Ireland, Italy, Gibraltar, or Malta pay the lowest MGR of 5%. The base rate for all other players is 6.5%.
The Market Base Rate is then modified by your personal discount rate. The rate is dictated by two things: your country of residence and your Betfair points, which are earned by wagering with Betfair. The discount rate ranges between 2% on 1000 points and 60% on 150,000 points and is calculated every Sunday. However, some countries have different policies: Ukraine and Switzerland, for instance, need more points to secure better discount rates, while players from Australia and New Zealand earn better rates more easily.
Here is a simple equation for calculating your commission rate:
Net Winnings x Market Base Rate x (1 – Discount Rate)
For example, if your bet won £100, you’re from the UK, and have 40.000 Betfair Points:
£100 x 5% x (1 – 20%) = £4 in commissions.
What are Betfair Points?
Betfair Points are a sort of loyalty program reward. Essentially, the more you wager with Betfair, the lower your commission rates become. Betfair Points are awarded for all bets based on how much commission you've paid on the wager. Players earn 1 Betfair Point for every 10 pence of commission you've paid. For example, if you pay a £10 commission on a winning bet, you’ll earn 100 Betfair points.
Betfair points dictate your account’s discount rate on commissions. You can find more information about this in the previous question.
It’s important to note that players are awarded points on all bets made, regardless of the outcome. Because commissions are not charged on lost bets, you instead receive points based on the implied commission of your net losses. For example, if you lost £100 and have a 5% commission rate, you’ll receive 50 points because the commission would have been £5 if those were winnings and not losses.
Also note that if you’re using a different currency, the commissions are converted to British pounds for the purposes of calculating points. Also, Betfair points are reduced at a rate of 15% weekly, so you have to keep placing wagers if you want to maintain a high discount rate. There is an option to “freeze” this weekly reduction for 1 week every three months. Freezing your Betfair points also prevents you from earning any more for the duration of this period.
Can Betfair close my account?
Can Betfair detect a VPN?
Sometimes, but they still can’t find out your location. However, this is not the issue: KYC verification on Betfair requires a valid billing address which will inevitably reveal your location, so VPNs cannot be used to open an account and bet from a country with no access. However, VPNs can be used if you already have a verified Betfair account but are currently abroad.
Where is Betfair legal?
Because of various legal and commercial reasons, Betfair is only available in some countries. At the time of the writing of this article, Betfair is legal in Armenia, Australia, Austria, Belarus, Belgium, Bosnia and Herzegovina, Brazil, Bulgaria, Costa Rica, Croatia, Cyprus, Czech Republic, Denmark, Egypt, Estonia, Finland, Georgia, Germany, Gibraltar, Greece, Guatemala, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Macau, Malaysia, Malta, Mexico, Netherlands, New Zealand, Panama, Peru, Philippines, Poland, Romania, Russia, Saudi Arabia, Slovakia, Slovenia, South Korea, Spain, Sweden, Switzerland, Taiwan, Thailand, Ukraine, the United Arab Emirates, and the United Kingdom.
Bear in mind that countries are added or removed from this list all the time, so the situation might change at some point in the future.
Why was Betfair closed in India?
Betfair closed the accounts of all Indian customers on January 28, 2019, and stopped accepting new customers from India. Essentially, this was the result of the company being publically called out for accepting Indian customers. Sports betting is illegal in India, along with most other forms of gambling.
This means that Betfair was never supposed to be accepting Indian customers in the first place. Still, large betting companies often accept customers in such cases because they are not likely to ever face repercussions. After all, Betfair is an online betting service with no actual assets in India, and any sort of penalty on the company cannot truly be enforced.
Betfair is unlikely ever to open its doors to Indian customers unless the gambling regulation in the country is changed.
Will Betfair come back to Canada?
Possibly, but that would depend on Canadian legislation. A few years ago, Betfair decided to abandon all "grey area" regions.
Online bookmakers don’t always hold proper local licences for each country they operate in. This is often due to no possibility of legal repercussions or because the state’s stance of online and remote gambling is poorly defined. Still, this could be used as grounds for future licences being denied in countries which strictly enforce their laws. For instance, Betfair has been looking to move into US states such as New Jersey.
Canada is one such “grey area”. While sports betting is allowed but strictly regulated, the government hardly ever goes after unlicensed bookies.
Who owns Betfair?
Betfair is a subsidiary of Flutter Entertainment, a holding company which also owns other major brands such as Paddy Power and Sky Bet. Flutter Entertainment is, in turn, a publically owned and traded company listed on the London Stock Exchange.
Who founded Betfair?
Betfair was founded in 2000 by Andrew Black and Edward Wray, two entrepreneurs who had the idea of combining a sportsbook with a financial exchange.
Who regulates Betfair?
Betfair’s headquarters are located in Hammersmith in West London. This means that the main gambling licence under which they operate is issued by the United Kingdom Gambling Commission, one of the most respected regulative bodies in the field of gambling.
However, for most users outside of the UK, the most relevant licence is one issued by the Malta Gaming Authority. This licence regulates most of their international business, including the online casino, sportsbook, and exchange.
OF course, Betfair can also boast several smaller local licences, such as the ones in Denmark, Sweden, Italy, Spain, and Romania.
Which currencies can I use on Betfair?
Betfair caters to hundreds of thousands of customers across the globe. With the large number of accepted countries (which you can find listed above), one would expect they also accept a multitude of international currencies. Sadly, though, that's not the case – there are only 5 accepted currencies on Betfair:
- Australian Dollars (AUD)
- Danish Kroner (DKK)
- Euro (EUR)
- Hong Kong Dollar (HKD)
- Swedish Kronor (SKK)
- UK Pounds (GBP)
- US Dollars (USD)
Is it safe to bet at Betfair?
Yes, it is safe to place bets at Betfair bookmaker. This English bookie shows off two licenses – issued by the UK Gambling Commission (UKGC) and the Malta Gaming Authority (MGA). These regulatory bodies are the strictest supervisory organs in the online gambling industry. Therefore, as Betfair has both of their licenses, you know it is 100% secure. Furthermore, Betfair partners with quintessential client protection programs like GamCare, GamStop and Gambling Therapy. Moreover, Betfair utilizes the SSL (Secure Socket Layer) protocols to guard all financial transactions at the premises. This way, Betfair protects all sensitive customer data with these 128-bit encryption protocols.
What is Betfair cash-out?
You can cash out your bet anytime at Betfair. The English sports betting company guarantees an easy profit regardless of the final result. You can withdraw your funds fully or partially anytime during the match or race. Just click on the cash-out button on Betfair and your funds will be returned to you. If you feel like your selection is doomed, just pull it back and that’s it. It pays off betting at Betfair, the fairest bookie of them all.
How long does it take to withdraw money from Betfair account?
Betfair follows the industry’s standards when it comes to banking. When depositing funds into your Betfair account, you will not need to wait at all. Deposits are made instantly. When making a withdrawal at Betfair, pending times vary. If you go for an e-wallet, your withdrawal request will be processed within 12 hours. Credit and debit cards, as well as bank transfers, might take up to a week. Typically, with any other payment option barring the e-wallets, you can expect to wait between 3 and 5 working days.
What is Betfair maximum payout?
Betfair’s maximum winnings for top competitions like the Premier League, UEFA, Bundesliga and the World Cup are limited to $1,000,000. Bets like double chance, correct score, wincast and over/under goals are restricted to $500,000. All other match markets stop at $100,000. These maximum payouts at Betfair apply on a daily basis, per bet.
Why does Betfair limit accounts?
Betfair limits account to prevent problem gambling. There can be only one Betfair account per household, telephone number, email address, address of residence and credit card. If a player gets caught using more than one account, he or she will be banned and their account will be eliminated. Therefore, please gamble responsibly and comply with the terms and conditions of Betfair.
Why does Betfair need my passport?
Every self-respecting bookmaker needs to ask for your ID and passport upon registration. You might also be asked to provide your national ID or passport when making a bigger withdrawal. This is to ensure it is truly you and to protect your identity. That way, no one could abuse your personal information and documents. Betfair takes your privacy very seriously.