Betfair Australia is unique amongst gambling sites in Australia as it is the only licensed betting exchange. Unlike a standard sportsbook, it means that you have the opportunity to back and lay bets on the same sports event, because there is no bookmaker involved.
So, is Betfair reliable? We can certainly say yes to that question as it has been in operation since 2005. Betfair Australia now has around three million clients who are more than happy according to the Betfair ratings given by them. Betfair effectively levels out the playing field between regular punters and professionals, whilst cutting out the middleman.
BETFAIR: Pros & Cons
- Average odds are 20% better than for most Australian bookmakers
- Fully-licensed and highly regarded global betting exchange
- Exceptional opportunities to learn betting exchange skills
- This style of betting may take a bit of getting used to
If you have never experienced a betting exchange before, then your first glimpse of the Betfair platform could be quite overwhelming. But fear not, Betfair Australia simply cannot do enough to help punters feel comfortable on its site and will even give you a personal virtual tour on request. For this alone we must give top Betfair ratings for effort.
It is also worth noting that our Betfair reviews showed a menu option of ‘Sports’, but if you click on the link you will be redirected to a non-Australian Betfair website. This is due to the major restructuring of the Betfair business, which took place in 2019 on a global level. Unfortunately, this means that the sportsbook is no longer available to Australian residents.
Betfair’s exchange platform has undergone a major update fairly recently, but for existing clients who are accustomed to the original format, they can continue using it, which we felt was another really thoughtful touch from this operator and we upped our Betfair ratings accordingly.
Need help with absolutely anything? Then head straight to ‘The Hub’ where our Betfair reviews found a veritable library of helpful documents, guides and tutorials pitched at every level of punter, from newbie to old hand. Also in the hub are loads of tips and news on everything sport, form guides and a host of betting calculators.
Excellent native mobile apps are available for Android 5.0 and over, iOS 11.0 or later and Mac with OS11 and the Apple M1 chip; all have received great Betfair ratings from users, which total over 1,000,000 to date.
Compared to other Australian sportsbooks, For example, our PlayUp reviews showed just three payment methods available to fund your account, which is not unusual for the industry, but Betfair Australia offers ten, including PayPal. All deposits and withdrawals are free of charge with a variable minimum deposit amount from $5 to $30 depending on the funding source.
However, only Neteller, Skrill, bank transfer and PayPal can be used to withdraw your winnings which will take a maximum of 2 working days. On the plus side, Betfair is trialling its Visa ‘Fast Funds’ service in some countries, where you can receive your requested withdrawal amount in just two hours. If it proves successful, then hopefully it will reach Australia soon, which would certainly increase Betfair ratings even further up the scale.
For the moment, just ensure that you check the detailed ‘Payments’ information on the operator’s website. It is important to know exactly where you stand when it is your money at stake.
Most operators that we examine have some sort of limitation to their support service, but our Betfair reviews can find nothing lacking and nothing left to chance. If you visit the operator’s ‘Contact Centre’ page, you will find no less than ten different telephone numbers listed there, each covering a unique part of the operation or client country.
This is the first operator we have looked at that has a dedicated phone number specifically for arranging platform demos, for example. Betfair’s accessibility doesn’t stop there either, you can also send an email or post a message on the Betfair Community forum pages. Our Betfair ratings went even higher when we established that every one of the options detailed is available to you 24/7 and all were able to provide super-fast responses to any question.
Is Betfair secure? Betfair Australia is licensed and regulated by Australia’s Northern Territories Government. Most Australian sportsbooks have a similar licence to operate, and so we know from experience that this jurisdiction is fairly tough to keep on side, but Betfair has done just that and there are no misdemeanours recorded against it.
By the same token, our Betfair reviews found no gaps in security either. As you would expect from such a long-standing and trusted brand, every page of the exchange website exhibits the correct https:// URL format, confirmed under the GlobalSign certification process.
Not only but also, top grade SSL encryption is automatically applied to any part of your Betfair account that involves any stored personal or financial data. Add to that list 2FA authentication, with asymmetric session keys and basically, there is no better security levels available (well not to anyone who isn’t a government official or a major bank anyway!).
Our Betfair ratings are high for this part of the review as we can see that every punter can benefit form Betfair Australia and its ‘Betfair Points’ reward scheme. As soon as you sign up and start betting, you start earning points and here is the way it works.
Because Betfair is not a bookmaker, it makes its profits from the 2% average commission it charges on clients’ winning bets. The points we mentioned earlier are used to decide how much commission is charged to customers when they win. With sufficient points, you qualify for a discounted commission rate.
Both winning and losing bets placed on the exchange qualify for Betfair points and the more points you accrue, the less commission you will pay on any wins. You get 1 point for every $0.10 of commission paid on your net winnings and 1 point for every $0.10 of the theoretical commission that would be paid on a net loss.
It really isn’t as complicated as it sounds and as with everything else, there is an abundance of helpful guides, complete with examples, on the Betfair Australia website to set you on the right track. We should add that there is no obligation to be a part of this scheme and you can opt out any time if you prefer.
If you have only ever used a standard bookmaker for your sports betting, then it is understandable that you might feel daunted by something that is as different as a betting exchange. However, do bear in mind that Our Betfair reviews showed that odds on this site are 20% better on average, than with a standard sportsbook – what a great starting point to work from.
All of our Betfair reviews show that this operator bends over backwards to help newcomers feel at home and Betfair ratings from thousands of satisfied punters go a long way towards confirming that is indeed the case. We genuinely cannot fault too much about Betfair Australia, but there is no direct operator comparison to be made as it is entirely unique within the Australian betting market.
What we can tell you is that Betfair is reliable and most importantly that it is secure, no box was left unchecked in that department. Ultimately, a few of you may find that this style of betting is not for you, while others will be truly enamoured and never change back to a regular sportsbook.