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Betfair Australia Review 2024: Is Betfair scam or legit?

Read our expert review in 5 minutes. Is Betfair reliable?

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Betfair Australia is unique amongst gambling sites in Australia as it is the only licensed betting exchange.  It means that you are opportune 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.

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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
Payment Methods
Australia’s Northern Territory
1 – 5 Days
PPB Counterparty Services Limited
Available Languages
Customer Support
Live Chat, Email Support
+44 20 3059 8888
Verified by
Overall Rating
Rating follows
  • Usability, Look & Feel
  • Mobile App
  • Payment Methods
  • Customer Service
  • Licence & Security
  • Rewards & Loyalty Program
Last Updated on 29/02/2024
Fact checked by: Kane Gregan

Usability, Look and Feel – Top Betfair ratings for the new, updated platform

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.

Payments – Plenty of options and there are no fees to pay

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.

+ 7

Customer Service – Betfair Australia has a dedicated contact centre to cover all bases

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.

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  • Most esports markets in Australia
  • Best esports odds available in Australia
  • Live coverage of every top game

Licence and Security – Our Betfair ratings give top marks for all aspects

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!).

Australia’s Northern Territory
UKGC - UK Gambling Commission
New Jersey (US)
+ 3

Rewards and Loyalty Programs – Our Betfair reviews show that you get points for losing bets as well as for the winners!

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.

Betting Markets - All the sports you can dream of

You will find all of the world’s most prominent sports and events listed on the Betfair exchange without looking far down the list.  On the downside, some betting markets may be unavailable due to lack of liquidity, minor leagues and less popular horse races for example.

We have to say that even if you have not experienced a betting exchange previously, if you head to ‘The Hub’ there is so much information there, that you could become something of an expert in a very short space of time.

Odds - Better than average odds from Betfair

On average, you will find that the odds available on this betting exchange are 20% better than those available through an average Australian sportsbook.  This is largely due to the fact that there is no bookmaker’s margin to take account of and also because of the liquidity of the sports events.

There is a slight downside to that, in as much as you will not find the same number of sports or leagues and some markets may not be represented at all.  You will also find that the most activity on Betfair occurs close to an event, so you may have to wait a little longer to find exactly what you are looking for.

Live Streaming – Watch mainstream sporting events online

In-play betting is available with Betfair Australia, but as it is governed by exactly the same regulations as any bookmaker would be, this is only accessible by phone using the pretty much unforgettable 132BET dedicated betting telephone line.

Live streaming of selected events is available and is indicated by a TV icon next to the specific event.  Coverage varies depending on the sport and how mainstream the event is likely to be.  For example, 90% of NHL matches are screened, but only around 20% of games from the European leagues.

Limits - Minimum wagers of just $5

The minimum amount for online wagering is $5 and for telephone betting it increases to $50.  Due to the way a betting exchange works, there is no upper limit imposed by Betfair Australia.  However, you can add a self-imposed limit to your Betfair account when you sign up if you wish, or at any time in the future by emailing the customer support team.

The reason that there are no limitations to how you bet or indeed how much you choose to wager on this site is because you are not backing against a bookmaker.  The entity that is laying your back bet, or conversely backing your lay is another person, not a business entity, or faceless, potentially greedy, corporation.

Product Summary - A unique offering from Betfair Australia

Although the concept of a betting exchange is far from being a new one, Betfair Australia is a unique operation amongst the licensed Australian sports betting sites currently available.  Betfair as a company has been around for over fifteen years and as such, is considered a reputable and reliable operation.

Betfair Australia also provides a secure and safe environment for all clients to enjoy its unique platform.  Our review process clearly shows that the operator takes on board the fact that this totally new betting environment could present doubts for some of you, but Betfair Australia really does its very best to provide reassurance and valuable guidance which should preclude the majority of them.

We highly recommend Betfair as a betting exchange and have found completing our review an interesting and enjoyable process; as we hope you will if you take the time to explore this totally different way of wagering.

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Picklebet Highlights
  • Most esports markets in Australia
  • Best esports odds available in Australia
  • Live coverage of every top game

Betfair Australia FAQs

Betfair Australia is entirely legal and holds the same type of licence as any other bookmaker.  If you want to know more about licensing or have any other questions about Betfair, then you need to read our comprehensive review of this operation, you will find it here at AU along with loads of other reviews and gambling guides.

👀 I don’t really understand how a betting exchange works!

If you are new to this way of wagering, that is a totally understandable concern.  But really it’s quite like offering your drinking buddies a bet that your favourite team will beat theirs in a game of footie.  For best results, head straight to our Betfair Australia reviews here at AU, where all of your questions, or concerns, are addressed.

📚 Can I bet on the same sports as my online bookie has?

In theory, the answer is yes.  Most mainstream sports and major leagues are well represented on the Betfair Australia betting exchange.  However, if you are looking for a minor league or niche sport, then it depends.  Although that sounds confusing, a glance through our Betfair reviews found here at AU will explain and set you on your way to offering your own odds.

📇 Can I follow Betfair with a mobile app?

As with almost every Australian sportsbook, you can download an app that provides you with the same platform and features as its main website.  Interestingly, you can do much more on a Betfair app than with one from your standard Aussie bookie.  Read more in our Betfair Australia review, which you can find right here at AU.

Does Betfair have bonus for new customer?

Not only are new customer ‘welcome’ bonuses prohibited under Australian law, there is far more value to be had from Betfair Australia than a quick cash injection to your betting account with a whole list of difficult T&Cs attached to it.  Find out how to really add ‘bang’ to your buck in our exclusive Betfair Australia guide, available right here at AU.  Do it right now, you won’t regret it!

Overall Conclusion - Our thoughts on Betfair Australia

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.

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  • Most esports markets in Australia
  • Best esports odds available in Australia
  • Live coverage of every top game
Betfair Sports
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  • Outstanding odds
  • Reduce commission with Betfair Points
  • Best-price payout for all horse racing odds
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Noah EzraMegan JonsonKane Gregan
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Megan Jonson
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Kane Gregan
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