A well established brand with a reputation for excellence, Betfair is one of the top sports betting brands and the only peer-to-peer betting exchange currently open to punters in Australia and New Zealand.
Is Betfair right for you? My Betfair Australia review has the answer. I’ve gone through every element of the site to bring you an in-depth look at how the betting exchange system works, the strength of the markets and the range of in-play bets which can add an interesting angle to the exchange system. I’ll also cover site fundamentals including mobile performance, security and customer support.
Facts
Quick guide to the Betfair Australia betting exchange
Betfair has carved out a unique niche as the world’s largest betting exchange and, as I write this, the only one available to Australian gamblers. Instead of simply making bets against the bookmaker, Betfair allows punters to Back or Lay on different outcomes, meaning that they’re either backing someone to win or lose.
Betfair then act as the facilitator of this exchange. They’ll skim a small amount from the punter’s winnings (between 1%-5%) but don’t build profits as odds. Therefore, when Betfair say that they welcome winners, they really mean it!
How does the Betfair peer-to-peer betting exchange work?
Rather than offering fixed odds on events, the betting exchange system at Betfair allows members to make sports picks directly against other punters. You can either:
- Back a pick (in blue): if you choose this option, you’re predicting that the outcome will occur e.g. Manchester United will win their next match.
- Lay a pick (in pink): this means you’re predicting that the outcome won’t happen e.g. Manchester United won’t win their match.
A betting exchange is a little like the stock exchange where odds are impacted by supply and demand. Before your back or lay pick goes live, you must find a punter who’s willing to take on the other side. If this isn’t possible, your bet won’t be accepted and your stake will be returned. While this system takes a little getting used to if you’re used to traditional bookmakers, it can mean that it’s possible to find extra value.
Betfair Australia sports markets and bet options
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Betfair live sports betting
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Betfair greyhound betting
My Betfair Australia review found literally thousands of markets stretching across all of the most popular sports and a few niche options. Tennis, cricket and Aussie rules football are some of the top choices, of course, but you’ll also find MMA, baseball, basketball, American football, golf, soccer, cycling and rugby, among many others. Within each of these categories, you’ll find a full coverage across leagues and seasons. Let’s take cricket betting as an example. On any given day, you might find markets covering:
- the Big Bash League (BBL)
- ICC Events
- T20 tournaments
- international tours
In addition, you can bet on political events from Australia, Europe and the UK. Finance fans can also speculate on interest rates or the fluctuations of cryptocurrencies such as Bitcoin and Ethereum.
Racing betting
Horse racing is undoubtedly the busiest option and you’ll find hundreds, if not thousands, of markets coming from around the world. For some horse racing events, Betfair operates as a traditional sportsbook with a tote system of pooled bets. Racing is the only sport where this is possible which is great for casual punters who enjoy a flutter on big races.
Discover varied bet options
As one of the biggest brands in the world it came as no surprise that Betfair has an incredibly diverse range of bet types. For any match, you can expect to choose from dozens of picks including outright winner, over/under points totals, spreads or winning margins and period-by-period betting. Plus, you can put bets together across different sports as multiples, a real highlight of my Betfair Australia review.
Check out diverse in-play markets
The quick ‘in-play’ link on the site homepage takes you directly to the action happening in real time. Due to Australian gambling restrictions, in-game bets must be made over the phone but this is incredibly straightforward using the mobile app or the telephone service.
Wager limits
There’s an extensive range of bets for different punters, from a minimum of $1 AUD when you’re placing a bet online or $50 AUD if you’re using the phone service. Using the 24/7 phone service offers great convenience but make sure that you have your TAN (Telephone Account Number) handy. You can even use the phone service to open your account if you’d prefer.
The maximum payout using the exchange at Betfair varies by event but it can go as high as $1 million AUD on some multiple picks.
Functionality and design – is Betfair Australia easy to use?
Betfair is an information heavy site and, with odds and events updating every second, it’s essential to be able to quickly locate key functions. With this in mind, Betfair has opted to avoid fancy graphics or complicated colour ways in favour of a clear layout and a pared back black background. Combined, these make finding interesting picks very easy. There are also many useful guides for new punters covering how the exchange system works.
If you prefer mobile betting, you’ll find that the Betfair apps are no mere afterthought. Available for iOS and Android, these apps have the same functionality as the main site and are your super highway to instant bets and picks.
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Betfair mobile sports betting
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Competitive betting odds at Betfair
Accessing customer support at Betfair Australia
Coming up against a stuck withdrawal or a password reset can seriously derail your enjoyment so thorough customer support is an absolute essential. Luckily, my Betfair Australia review found that support is available 24/7.
The first port of call for many players, myself included, is the Help Center. There are many helpful articles here on topics such as setting up your account, verification, deposits and fast withdrawals. If these don’t solve your query though, you can send the team an email.
Unusually, Betfair provides members with the option to access support via the phone. This is great if you want instant support but we find email easier when you want to add more explanation to your query. However, if you want support to walk through a particular process, such as making a deposit, phone support can be very helpful.
Betfair Australia payment methods – accessible choices make for easy transactions
A crucial part of my Betfair Australia review, investigating the payment options makes sure that you’ll be able to fund your account and easily withdraw your winnings. Although there’s not a massive choice of methods, what is there is widely accessible so no one should struggle to find an option.
Currently, you can use Visa, Mastercard, PayPal and Osko to add funds to your account. Bank transfers and PayPal are the only options for withdrawing money. You won’t have to pay any fees on Betfair’s end but be aware that your bank may apply a fee for making transactions. I’ve got the details on each option below, including its processing time:
| Payment method | Minimum deposit | Minimum withdrawal | Processing time |
| Visa | $10 | Visa cards issued in Australia cannot be used for withdrawals. | Instant deposits |
| Mastercard | $10 | Mastercards issued in Australia cannot be used for withdrawals. | Instant deposits |
| PayPal | $15 | $15 | Instant deposits; withdrawals take up to 24 hours |
| Osko | $30 | Osko can only be used for deposits | Deposits take 30 minutes to 24 hours |
| Bank transfer | Cannot be used for deposits | $15 | 1-3 working days |
License and regulations – is Betfair Australia legit for responsible gambling?
Betfair Australia is an established brand with an excellent reputation. The brand is licensed and regulated by the Northern Territory Government of Australia and strictly abides by its rules and supports transactions using the Betfair Global Exchange. That means you can enjoy fair betting in a safe environment.
All players are required to complete verification to confirm they’re over 18 and eligible to sign up before they can start using the site. For lots of members, this process is completed automatically when you register. However, if that isn’t possible, you’ll be asked to complete verification via Scantek, making it one of the best Australian betting sites. This is a quick process that requires you to take a photo of your passport or driver’s license and a selfie.
Staying safe at Betfair Australia
Betfair takes its responsibility to players very seriously and has many measures in place to both safeguard user’s personal information and support responsible gambling.
There are links to various support organisations clearly signposted on the website and a number of responsible gambling tools that you can easily access. While assembling my Betfair Australia review, I found that you can set up deposit limits, time out checks, loss limits and self-exclusion periods. You can easily adjust these at any point but, in line with safer gambling regulations, changes won’t come into effect until the time period has passed. I was particularly impressed to see that you can turn on a deposit limit, daily, weekly or monthly, directly at sign up.
Betfair Australia review summary – is this a must-have for sports fans?
At the time of writing, Betfair is Australia’s only betting exchange but, even if there were hundreds more, it would still be a good choice. The site draws on Betfair’s years of experience to deliver a clean, informative site and app which are easy to use and accessible to newbies.
Where Betfair really impressed was the sheer range of bet types and markets. In-game options are particularly good as you can adjust your picks based on every point, kick or blow of the whistle. The efficiently organised site was also very useful, especially for members new to the betting exchange system.
While some punters may miss the elements you can find at more conventional sportsbooks, such as the ability to make one-click wagers or live stream sports, the betting exchange is a boon for those seeking potentially higher odds and more diverse bet types. All in all, if you’re looking for something different, then Betfair Australia could be the answer.
Betfair Australia review FAQ
- 💳 What’s the best option for the quickest Betfair Australia withdrawal time?
At the moment, punters can use PayPal or bank transfer to withdraw winnings. PayPal is the quickest option, with a processing time of just 24 hours. Bank transfers can take up to three business days to process but this depends on your individual bank.
- 📱 Is there a Betfair Australia app?
Yes, there are native apps available to download for both iOS and Android systems. The site is also perfectly optimised for mobile use so you can make picks with ease whenever and wherever; that’s especially useful for in-play wagers.
- 🇦🇺 Is Betfair a legit site in Australia or should it be avoided?
Betfair is one of the most reliable and reputable bookmakers and exchanges in the industry, with more than a quarter of a century of experience. It’s trusted around the globe and has many features in place to support safe and responsible gambling, including a selection of responsible gambling tools.