Betfair Betting Exchange Review
Betfair was created by Andrew Black and Edward Wray in 1999 and has become the world's leading betting exchange. Betfair offers a whole load of extra betting choices as you are betting against other people and can either 'back' or 'lay', or sometimes known as bet trading.
Betfair Free Bet
If you are still undecided whether to join the World's largest Betting Exchange, Betfair will give all new customers a free bet of £50. Claiming this free bet could not be easier. Firstly open a new Betfair account by clicking the link above making sure the Betfair free bet code has been entered automatically. Once your new Betfair account is open place your first bet of at least £5, and on odds of 1/5 or better and once your bet is settled Betfair will match it with a free bet of up to £50.
Betfair also offer the chance to gain unlimited free bets using their 'refer and earn' scheme. Once you sign up to Betfair you are given a unique refer number which you can pass on to your friends and family. Once they open a new Betfair account using your code and they bet £25 you will gain a free bet of £20 and your friend a £25 free bet. There is no limit to this either so you can, if lucky, claim unlimited free bets.
Why use Betfair?
When you are 'backing' you are betting that something will happen but with Betfair you can also bet on something not happening which is called 'laying'. When you are laying you are acting as a traditional bookmaker on the bet exchange.
If you want better odds than are currently available, you can place an order for
a better price, but be realistic because there has to be somebody prepared to
lay the bet at those odds, and vice versa.
Take a look at the betting odds before an event and you will see them change as Betfair members back and lay their bets. The odds often improve nearer to the off as the number of people in the market increases.
The bet markets that are available on Betfair are nothing but huge. Almost every sporting event has a market on Betfair with Worldwide Football, UK, Irish and US Horse Racing and Tennis being the main sports Betfair offers but that does not mean any other sports are neglected. If a sporting event is happening Betfair will 99 times out of 100 have a betting market for it. Ice Hockey, Rugby and Snooker are just some of the other markets available. Betfair even have huge 'Special' markets on such things like Reality TV winners, The Christmas number 1 and a White Christmas.
The great thing about Betfair is the large amount of Live 'in-play' betting markets which you can place bets on right up to the last seconds. With the 'Lay Bet' function this makes trading great fun as you can Lay off losing in bets or lock in your profit on a winning bet.
Other Betfair info
The Betfair site does not just allow you to bet on sports. At Betfair, users can play Betfair Poker, Casino, Games, Arcade Games and Financial markets, you can even get a generous Betfair Casino Bonus. All Betfair account holders also have access to the Betfair forum where you can chat to like minded people about all your favourite betting topics and hopefully pick up a few winning tips.
To sum up Betfair then with the great free bet, extensive markets, bet trading and better odds, Betfair really is a must for all gamblers to have and it is easy to see why Betfair are the World's largest online betting exchange.