Betfair Sports Betting
Sports enthusiasts the world over have long enjoyed placing a wager on their favorite sport or horse race. In generations past, that likely involved a trip down to local betting shop to fill out a wager slip, hopefully followed by a return trip to pick up the winnings. While such a concept is certainly still an option in many parts of the UK, Australia, and Canada, the Internet has opened up a whole new realm of sports betting that is more easily accessible to people far and wide throughout the region. Betfair is one such company that has emerged as a major online player in recent years. The innovative approach offered by this entirely online sports book warrants a detailed explanation and description of its various products and services. Continue reading to learn more.
Betfair and Its Exchange
Betfair is a revolutionary type of sports betting platform that emerged on the scene in 2000. The concept is unique because it was the first to introduce the idea of the betting exchange. In fact, that is what the sports betting platform at Betfair is based upon. In addition, the company also offers a full range of traditional sport betting opportunities as well. In time, they have continued an aggressive growth plan to become one of the larges online gaming operators in all of the United Kingdom, and have done a tremendous job of attracting the Canadian and Australian markets as well.
As mentioned, the betting exchange is at the core of the Betfair model. It differs from traditional bookmakers in the sense that individual betters will match up with other punters across the exchange. This results in better odds and potentially greater payouts. It is a revolutionary concept that has made sports betting more enjoyable to the masses, and the growth that Betfair has enjoyed in recent years in indicative of that fact.
Betfair has worked so well by affording its customers the opportunity to actually bet against each other. They do this either by backing the bet or laying different outcomes at a price that they determine. This give the customer more options, and it is all made possible via the use of an innovative program developed by the creators of Betfair themselves.
One of the greatest aspects of this particular model is that it has essentially eliminated the financial risk that traditional sports books have been forced to take on. This is absolutely no margin applied to each bet, meaning that customers end up enjoy odds that are better than those offered on the traditional market. The commission earned by Betfair arises from the net profits enjoyed by each individual customers participating in the exchange, irrespective of the eventual outcome of the match or fixture itself.
The Origins of Betfair
Many people wonder how such an innovative concept in the sports betting era came into being. That would be the result of an almost fluke meeting that took place back in 1999 between one professional gambler and a professional businessman. Over the course of a series of discussion, the first Sporting Exchange was launched within a year, quickly changing its name to Betfair.
Betfair took a measured approach to the industry, understanding that they would need to win over a customer base that had long been happy with traditional sports books across the region. Their notion to take the industry online, however, came at a time when the Internet revolution was still in its relative infancy. This worked to their advantage, as media coverage of the launch was largely positive. Within the first four years alone, Betfair had already reached an annual revenue mark in excess of 50 million pounds. That was just the beginning, as here we are over 15 years later and the concept continue to grow and attract a regional audience.
Betflair has since been listed on the London Stock Exchange, accomplishing that feat back in 2010. In fact, it was Europest largest IPO of a .com company in history at that particular moment in time. Realizing that they also needed to capture individuals who desired the more traditional approach to a sports book, Betfair has since launched the traditional odds system of as of 2013. This has attracted an even larger audience, and all of this takes place securely online and via a licensed sports book in the United Kingdom.
Current Bonuses and Promotions
Betfair offers an ongoing bonus to its new customers. Those who just join will enjoy 30 Pounds in free bets with their first deposit of just 10 pounds. Claiming the bonus is incredibly easy, and can be done entirely online. Each month the promo code does change, but that can easily be found online. As soon as a customer enters the promo card and makes a new 10 pound deposit, the 30 Pounds worth of free bets are automatically added once the initial 10 Pound bet is placed.
in addition, the Betfair Exchange is currently offering a promotion that grants a 20 Pound risk free bet to clients. The details are available online. This is a great opportunity for those individuals not entirely sure if they understand or like the concept of the betting exchange to try it out risk free. In this way, clients can learn to navigate the system slowly without having to worry about losing any of their own money. It is truly a win-win situation.
Expectations
Clients of Betfair can expect a great deal. It offers all of the traditional features of a sport book, plus some. It is possible to bet from anywhere in the legal jurisdiction of the UK gambling commission, and it is made accessible to the masses via the Internet. In fact, Betfair has invested considerably in technology, to the point that it is possible to place wagers via most smartphones or tablet assisted devices.
In-Game betting is made possible for most matches and games covered by the book. Over 100 sports and individual events are covered, with matches in just about any country and within any recognized sports league being listed on both the exchange and via the traditional bookmaker odds sheet. Prompt payout is the expectation of all clients, and that is what Betfair delivers. There are various payout options afforded to clients based on their particular needs.
The betting exchange itself is constantly updating while a match is in play. Clients can expect up to the second odds updates, with the option to bet with or against other punters in real time. There are no limitations or delays to be experienced with Betfair, barring the individual user losing his or her own Internet connection.
Licensing
Not surprisingly, Betfair is heavily regulated and governed by licensing authorities. The Gambling Commission of the United Kingdom has granted them full permission to operate online. In addition, Betfair is fully licensed by the Malta Gambling Authority as well.
For individuals looking for a quality online sports book with multiple options for play, Betfair certainly warrants consideration. The innovative strategy of the exchange makes the average wager become extremely interesting. Couple that with the opportunity to place strategic individual bets using traditional odds offered by the sports books, and clients will find that nearly every option is covered by Betfair.
