What to expect from Betfair
Betfair is the only Australian betting site that will allow you to place lay bets and actively trade positions within betting markets. This feature of the exchange platform allows you to hedge bets to minimise losses or guarantee profits. The exchange also allows you to trade bet positions from another betting site and lay off that outcome for a profit. In short, Betfair is a must for the savvy punter.
The sign up process
Register a new Betfair account
Deposit into your account
Start placing lay bets
Betfair Australia betting exchange and bookmaker review
Betfair.com.au is unique to the Australian market in that it offers a betting exchange service to its customers. This allows users to back and lay outcomes and trade on events. The beauty of the exchange is that it generally offers better value odds than traditional bookmakers because other punters are creating the odds. Betfair Australia no longer offers a traditional sportsbook bookmaking service.
There are several reasons why joining Betfair can be very useful. In a marked change of direction, Betfair no longer offers the types of weekly promotions to eligible residents in the way that other Australian bookmakers like Bet365 do. The primary reason for joining Betfair is to take advantage of the higher odds that are available on the exchange. That coupled with the ability to bet that an outcome will lose, are great reasons to open up a Betfair account.
Place lay bets
Members of Betfair can take advantage of lay betting; placing bets against an outcome winning. This type of wager is only possible with a betting exchange. Some bookmakers, like Betstar, have come up with innovative products to ‘lay the favourite’ in horse racing events, but they aren’t as efficient, nor valuable, than placing a lay bet with Betfair.
Review of Betfair Australia promotions for existing clients
Betfair.com.au no longer offers promotions to their existing customers. Instead, they provide an informative series and articles and tools with the Betfair Hub section of their website. In fact, no other Australian bookie provides content to aid bettors, like Betfair does.
Betfair Australia Best of Five racing promotion
Betfair.com.au’s best of five racing bet type offers customers great value. It guarantees to pay the higher of the best of 3 totes, the official starting price, or the Betfair exchange starting price. The key here is the exchange starting price. Often the price on the exchange trades at a premium to the prices offered by all of the other bookmakers. The reason for this is that punters wanting to lay an outcome, have to put up higher odds in order to entice other punters to back the outcome.