I’ve used Betfair on and off since 2005, losing money, taking breaks, and returning later. This report gives a fair look at my time with Betfair, covering how it works, what it’s like to use, and where it falls short. It includes reliable information and stresses safe betting practices.
Betfair: A Major Online Betting Company
Betfair never opened physical betting shops, unlike competitors like Paddy Power, Betfred, and Ladbrokes, which were big on UK high streets in the early 2000s. Instead, Betfair focused on online betting, competing directly with Bet365 for digital customers.
Today, Betfair is part of Flutter Entertainment, a large gambling company that owns brands like FanDuel, PokerStars, and Sky Betting & Gaming. Public records show Flutter is the world’s biggest online betting business, listed on the New York and London Stock Exchanges. Started in 2000 by Andrew Black and Edward Wray, Betfair has grown from a small company to a major player. Its “Risk Management” approach often limits or closes accounts of people who win too much, a common practice that puts profits first. While Betfair’s size is notable, its methods can feel unfair to some users.
Signing Up: A Tough Process
Getting back into Betfair was hard. My old account used an email I no longer had, and I’d forgotten my password. I contacted support, expecting them to suspect I was trying to cheat with multiple accounts. After a few days, a staff member told me to use a new email. I sent in my ID—Betfair follows strict rules from the Malta Gaming Authority, UK Gambling Commission, and several US state regulators—but my account was quickly blocked by their system for possible fraud.
After a week of emails to prove who I was, a senior support worker named Randall fixed it and reopened my account. This shows Betfair’s signup process needs work, especially compared to Bet365, where joining is much easier. Signup rating: Below average. Betfair has apps on Google Play, the Apple Store, and an App Directory for its Sports Exchange, but I stuck with my computer.
Adding Money: Some Issues
Putting money into my account was okay but had problems. Betfair accepts cards (£5 minimum), PayPal, Neteller, Skrill, and MuchBetter (£20 minimum). Rules from the UK Gambling Commission let users set limits on how much they can deposit, which helps avoid overspending and is now common across betting sites.
I tried to deposit £150, but my card was rejected multiple times, even though my bank said it was fine. It might have been my VPN causing trouble. It worked on the fourth try after turning off the VPN. Users should avoid using a VPN to make deposits easier, showing Betfair’s system could be smoother.
Betting Options: Lots to Choose From
Betfair offers many ways to bet, like sports, slots, bingo, horse racing, greyhound racing, and even fun bets on things like TV shows. The Sports Exchange is its best feature, letting users bet against each other with a 2% fee, unlike regular betting where the company sets the odds. I bet on football, tennis, cricket, golf, and basketball, and the exchange worked well for racing. Some say Betfair provides odds to racetracks worldwide, but I couldn’t confirm this.
You can also hedge bets, combine multiple bets, watch live games, play poker, or try casino games. The platform can feel confusing for new users, with the exchange being fairer than the regular sportsbook. Users need to pick their betting style carefully.
Bonuses: Not Very Exciting
Bonuses are small, offering up to £30 for the sportsbook if you deposit £10. I didn’t take them, as bonus rules often make you bet more than you planned, a trick used by many betting sites that can lead to losses. UK Gambling Commission rules keep bonuses limited, so they’re not a big draw. I deposited £150, then £300 later, without using bonuses, based on past lessons.
Customer Support: Up and Down
Betfair offers support through Live Chat, email, and some phone numbers (like 0844 871 0000 for UK sports issues), plus a mailing address for letters. They also suggest messaging @BetfairCS on social media. My signup issue took days of slow email replies to fix. Live Chat is said to be faster, but it depends on when you try. Other companies, like DraftKings, are known for quicker support. Betfair’s support could be better.
Withdrawing Money: Slow but Works
I withdrew £75, what was left after losing money on slots and eSports. The minimum withdrawal is £0.01, but fees make small amounts impractical. I chose bank transfer, which took five days—much slower than PayPal, which can take hours. Big withdrawals might take longer for checks, with some users online saying they waited three weeks for large amounts. Expect to wait for your money.
What People Think: Mixed Reviews
Trustpilot gives Betfair a 3.1/5 from 3,279 reviews (as of May 11, 2025), showing average satisfaction. Online discussions show some users like the Sports Exchange for fair betting, but others complain about blocked accounts, site glitches, and limits on winning players. Problems with ID checks and restrictions on successful bettors are common issues, typical for betting companies. With about four million users, Betfair gets both praise and criticism.
A Strong but Flawed Service
Betfair is a key player in online betting, with a unique exchange system and many betting options. But issues like difficult signups and slow withdrawals make it less user-friendly. Betting rarely pays off over time, and Betfair’s habit of limiting winners shows this. Users should set clear limits and keep expectations realistic.
Responsible Gambling: Must-Do Steps
Betfair offers tools to help users bet safely, and using them is very important:
- Deposit Limits: Set caps on how much you can add daily, weekly, or monthly.
- Loss Limits: Decide the most you’re okay losing in a set time.
- Time-Outs: Take breaks from 24 hours to six weeks if betting feels overwhelming.
- Self-Exclusion: Block access to the site for longer if you need a serious break.
Always read bonus terms carefully, as they can push you to bet more than intended. If betting is causing problems, get help from:
- GamCare: Private support for gambling issues.
- GambleAware: Advice and resources to stay in control.
- Gamblers Anonymous: Group support to recover.