Betfair
Overview
- Payment options: Bank transfer, Neteller, Paysafecard, Master / Visa and ecoPayz
- Rollover: T&C apply. 18+
- Cash Out: Yes
- Offers: Live Betting, Live Casino, Poker, Jackpots
Betfair is considered the best and largest sports betting exchange in the world. For those who do not know, in a betting exchange, the betting system is a little different because it is not wagered directly against the bookmaker, as it is done in the traditional way.
Instead, you will bet on a betting exchange against other bettors. BetFair only serves to intermediate these bets. Furthermore, you can buy and sell odds, just like a broker, waiting for your bet to appreciate and then sell it, so that you can apply the so-called trading system, which is often used to reduce the risk of losing bets and where it is possible to earn money regardless of game results.
Pros / Cons
- It is possible to bet for or against a result
- Pretty attractive odds
- Has a quick withdrawal
- Internationally recognized brand
- No 24 hour service
- Slightly higher higher income tax
As for sports betting, in the house there are 2 main modalities: Betfair Sports Betting (Sportsbook) and Betfair Exchange (Exchange). Both present live events, major sporting events in Latin America and around the world.
All with a simple and easy to use design. There is also a search bar for the player to easily find the sporting events they want to bet on.
Betfair history
It was in the summer of 1999 when two young entrepreneurs, Andrew Black and Ed Wray, got together and founded this betting exchange. They had the exceptionally brilliant idea of establishing an exchange that would allow people to not only place bets, but also place bets on others. This was the first time that customers could be conventional bettors by making bets or acting as bets and placing bets online.
Cutting the middleman, the bookmaker, turned out to be an instant hit. Crucially, it allowed the company to consistently offer better odds than conventional bookmakers. This concept is truly international and has enabled Betfair to thrive worldwide, despite the regulatory nightmare of local jurisdictions.
More than 2,200 people are on the company’s payroll worldwide. The scope of the company is extensive. They own the company in Australia and employ approximately 100 people there. There is also an operation in the US that includes TVG, a licensed television broadcasting company, and a US-based gambling company, as well as a San Francisco office.
With such extensive business operations, gaming licenses are currently located in Gibraltar, Italy, Malta, Tasmania and the United States.
Summary
The company has expanded to offer sports betting in the style of traditional bookmakers (through sports betting), as well as online casino, poker and games. It was the first and today is by far the largest and best online sports betting exchange. The breadth and depth of the markets and the quality of the prices at Betfair are unmatched.
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