About Betfair
Betfair, founded in 2000, revolutionized sports betting by creating the world's first large-scale betting exchange. Now part of Flutter Entertainment. Instead of betting against the bookmaker, you bet against other users — back (bet it happens) or lay (bet it doesn't). This creates a market where odds are often more efficient than traditional books.
Key Parameters
| Welcome Offer | Bet £20 Get £20 in Free Bets |
|---|---|
| Min Deposit | £5 |
| Commission | 2–5% on net winnings per market |
| Sports | 30+ |
| License | UK Gambling Commission + Malta MGA |
| ScanGoal Rating | 8.4 / 10 |
Exchange vs Sportsbook
Betfair offers both: the Exchange (peer-to-peer, lay betting, commission model) and a traditional Sportsbook. The Exchange is where the value is for serious bettors — odds are set by the market, not by a trader. The Sportsbook is more beginner-friendly with conventional odds.
Lay Betting Explained
Laying a team means you bet against them winning. If you lay Manchester City at odds 1.50, you act as the bookmaker — you profit if City doesn't win, but pay out if they do. This opens up trading and arbitrage strategies not available at traditional bookmakers.
Pros & Cons
Pros
- Back AND lay betting — unique flexibility
- Often best odds in the market on liquid events
- Trading and arbitrage possible
- Trusted brand (Flutter Entertainment group)
Cons
- Commission (2–5%) on winnings — complicates value calculation
- Complex for beginners
- Lower liquidity on less popular markets