Your guide to soccer betting…

Review: Betfair

Overview

The review and verdict below represent the subjective views of the reviewer at the date of the review. Most likely this opinion will change over time, as bookmakers change their services from time to time. The verdicts should not be regarded as a common views of this bookmaker. Everybody must make up their own opinion about who they are dealing with. Bettingadvice.com can not guarantee the correctness of the informaton mentioned in the review.

Opening account

Easy procedure, 2-3 minutes. You can choose up to 16 languages for your account setup. When entering the site, a window pops up and you need to fill in the usual personal information (name, email, phone, etc.). You are able to choose your username and a password with alphanumeric characters and choose one of their 10 currencies available. If wanted, you can close the pop up window in the end without make a deposit and you are already logged in. A welcome email with your username is sent afterwards to your email. You can also limit how much do you want to set for deposits and losses per day, week or month. A lost/forgotten password can be asked by entering the details used for opening the account (including 2 security questions).



Transactions

Generally the minimum deposit is 15?/10£ but in some methods they can reach 7?/5£. Vast offer from credit and debit cards to, cheque, western union, bank transfer and by the electronic methods such as moneybookers, neteller and paypal. The fees vary from 0% to 1,5% fee for the transaction amount (usual for credit/debit cards and Neteller). For bank transfers they have bank accounts in some countries so you can make an usual domestic transfer otherwise you have to make an international transfer. Withdrawals are easy to make once you have sent them your personal identification such as ID, utility bill and Bank information. After that procedure, you can easily withdraw by credit card (only VISA), cheque, bank transfer or by the electronic methods ( If you used these for deposit you have to withdraw also by that method), usually no fee apply to that. If you ask for a bank transfer, they charge 15? for that.



Navigation

Generally, you can access all the markets by the left panel on betfair site, you can even personalize your own markets. At the front page, you can choose the events by the ones closing soon or by the ones highlighted on front page. Easy navigation. If you want to return main page, just hit the home button from the top of the page.



Design

Their design is very simple and clear, without effects or complex features



Graphics Speed

In this feature, you can see graphics by clicking in a selection chosen in a market. There you can see the odds fluctuation and amounts traded(Price/volume over time) as well as the implied % chance for each selection. The site is reasonably quick to load.



Bet Procedure

When you see the odds and the amounts available, you can click on the odds you want to take, or set your own odds for others to match, and you can see it and change it on the right panel. Hit the OK button, if the bet isn't matched you have the option to cancel it. If an event is going to be in play, bets unmatched are canceled when it turns live. Unlike bookmakers you can place bets until the final whistle from the referee or until a horse/dog/car/runner crosses the line.



Service

You will find a Help section where it's shown the FAQ's. If you can't find what needed there, you can sent an email and expect an answer within 4 hours during Help desk hours or as alternative you can phone them. Their customer service is very reliable and they solved all my problems and questions I've made. They have a newsletter every month named "In Play" with information about upcoming events and interviews with users and reknowed people. They also have a forum section where you can post everything you want, it's a great way of knowing live scores in some events not broad casted worldwide and interact with other punters sharing views on events. At the moment, they are starting the Betfair Mobile where you should be able to place bets by your mobile phone but is still in a test phase. Their implementing a new section where you can see news and stats about soccer and racing.



Reliability

Betfair is the trading name of The Sporting Exchange Ltd. The Sporting Exchange Limited is registered as a limited liability company in England and Wales with registered office in London. The company was founded in 1999 but was launched in June 2000 and has become the largest online betting company in the UK and the largest bet exchange in the world. Betfair currently has over 100,000 clients and a turnover in excess of £50m/week. The company has received a Queen's Award by the Department of Trade & Industry, the most prestigious business award in the UK. They also make agreements with many sports institutions such as FIFA, WTA and others in order to maintain integrity in sports and prevent unusual bets based on inside information for example. Can't doubt that this is by far a most respected company.



Odds

As a betting exchange, odds are made by customers and not by Betfair, they only set up the markets. In bigger events such as Champions League or tennis you can have very good odds, mostly better than the bookies' ones. You can see the amounts of money offered to back or lay so you know if your bet is going to be matched or not. In some live events such as tennis or horse racing the odds can fluctuate so often you can make profit from every selection you choose. This is the best thing about betting exchanges, you can do trading or lay a selection you think isn't going to win. Remember that all the winnings are subject to a commission of 5% maximum, you have the option to see the net profit if you want. No commission is asked in losses.



Event on offer

Soccer, tennis, horse racing, greyhounds, financial bets, basket, and so on. There's is a problem in a betting exchange, you can't make the usual combinations you make as in a bookmaker. In the most known soccer leagues and US sports, they offer some combinations but if you are a gambler of big odds in a combo, don't use it. Betfair is better used for trading in simple bets. If an event is showed on TV by a reliable feed and if customers require for a market, they analyze the request and answer if they'll set up a market for that event or not.



Verdict

Without any doubt, the leading online betting company should be one to take in account. If you are a winner, you won't have your account closed at Betfair, guaranteed. If you win big, Betfair wins big too. Don't have a beautiful site with lots of graphics and stuff but they are reliable and serious on customers. If you never tried a betting exchange, you should give this one a try. BETFAIR is ofcourse recommended by Bettingadvice.com Written 10.07.2006 by "bullet proof" on behalf of Bettingadvice.com




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Must-have bookie

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