Betfair sportsbook is a heavyweight of the online betting industry. It was founded in 1999 by Andrew Black and Edward Wray, and at the time it was
a game-changer that revolutionized the betting industry by introducing the concept of peer-to-peer betting,
allowing users to set their own odds and bet against each other.
Looking forward from back then to what Betfair has become today, it is a far more comprehensive betting site that not only still supports peer-to-peer betting, but also an online casino and sports betting. However, in Australia, Betfair currently only operates as a betting exchange. Betfair currently stands tall as one of the leading betting exchanges globally, offering a comprehensive range of markets across various sports.
Betfair made its mark down under in 2004 when it entered the Australian market having already made its name elsewhere. In 2006 Betfair was given a non-exclusive license by the Tasmanian Gaming Commission in February 2006 to conduct Australia's first betting exchange. Today Betfair Australia still operates Australia's only betting exchange under this license.
A betting exchange is a concept in the world of sports betting that flips the traditional bookmaker model on its head.
Unlike conventional sportsbooks, where the house sets the odds, a betting exchange acts as a platform for individuals to bet against each other.
It is easiest to picture it as a stock market of sorts but for sports wagering, users pick a team or athlete to win, or take on the role of a bookmaker themselves by setting odds for particular outcomes.
This is attractive to many because of the freedom it gives them as players, and the idea of playing against other indiviiduals and not just bookies is often more exciting and competitive.
Betting exhanges like Betfair foster a sense of community among bettors. It opens the door to a world where users can negotiate, strategize, and engage in real-time market movements.
Due to the nature of being a betting exchange, often you will find that Betfair has some of the most competitive
odds in Australia. Bookies tend to be sharper in most cases than your peers and this is reflected in the odds
A downside to this is that you may not always find the markets you are looking for for a particular event. In other cases, there will be instances where a given market is not wagered on enough by other users, and the size of the wager you can place is limited.
Horse racing is Betfairs bread and butter in Australia. Throughout the country Betfair is highly touted as the leading platform for finding the best odds on horse races. This is a sentiment that is shared by not only more casual players but also by serious punters that prefer the platform over other betting sites in AU.
There are a few things to be aware of before you start placing bets on Betfair Australias betting site.
For the most part, markets are not always available way before the start of the event, and generally markets
actually open close to the start of the event in question.
A good rule of thumb to go by is that the more popular the event that you are trying to wager on is, the more likely you are to find the markets you want on the game, and the better the odds will be. Likewise, the more popular the event, the more likely you are to find markets for the game earlier before it starts.
Betfair realizes some of the pitfalls in their system and is proactive in making their platform better for their users. In an attempt to offer more markets for their users, where markets may not always exist on their betting exchange, Betfair has been actively working on a traditional sportsbook vertical for users to use alongside their betting exchange.
The introduction of a sportsbook in Australia by Betfair would give users all the markets they desire, whenever they desire them.
The Betfair AU website is extremely user-friendly and welcoming to both seasoned sports bettors and newbies alike. This was not always Betfairs layout, and for those users that prefer the old site design, there is a link for them on the footer of the website that will still allow them to wager on the old website design.
Betfairs mobile app is available on both the Apple App Store for iOS users and the Google Play Store for Android users. The Betfair mobile app design is much like the website in that it is user-friendly and welcoming to all experience levels. We recommend downloading the app to be able to bet on the go with Betfair no matter where you are.
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