Overview
Betfair made its name in 2000 with a betting exchange and now runs a fixed-odds sportsbook and a casino alongside it. This profile covers Betfair Sportsbook, where bets are struck at prices Betfair sets.
For UK customers, a Betfair account is opened with TSE Malta LP, Gambling Commission account 39561, which also provides the Betfair Exchange. Sportsbook bets are different: Betfair's terms say a customer placing one bets directly with PPB Counterparty Services Limited, account 39439, which is licensed for betting on real and virtual events and also trades as Paddy Power.
Key features
Bet Builder
Combine several outcomes from one top match, such as who scores first and who is booked, into a single bet.
Sportsbook Cash Out
Eligible singles, multiples and accumulators, flagged in My Bets, can be closed before they settle, pre-play, in-play or between legs.
Safe Sub
On selected player markets carrying its icon, a bet can still win if the player is substituted and the replacement delivers the outcome.
Standard each-way terms
Place terms depend on field size and race type, from a quarter of the odds on four places down to a quarter on two.
Live Video
Thousands of events stream in the app for customers with a funded Betfair account, with availability varying by sport, event and territory.
Safer gambling tools
Deposit and loss limits, Reality Check, a Time Out of one to 30 days, product exclusion and self-exclusion for six months or longer.
Sports & betting markets
Football and horse racing head the sports named in the Sportsbook app listings, with golf, tennis, boxing, rugby, cricket and greyhounds also there, political betting too, and the NFL among the US sports. Selections can be combined into multiples. Sportsbook bets are governed by Betfair's Sportsbook Rules and Regulations, which cover how markets are run and settled.
Football betting
The listings single out the Premier League, Champions League, Euros and World Cup. On top matches, the Bet Builder tab combines several outcomes from one game into a single bet.
Betfair's own football features are 90 Minute Payout, which applies to the Match Odds 90 market and other markets showing the 90 icon, and Safe Sub, which covers qualifying player bets on selected competitions, pre-match and in-play, including singles, multiples and Bet Builders, over 90 minutes plus stoppage time but not extra time or penalties.
Horse racing
Racing sits beside football at the top of the Sportsbook, covering UK and Irish meetings such as Cheltenham and the Grand National, plus greyhounds. Standard each-way terms depend on the race: handicaps of 16 or more runners pay a quarter of the odds on four places and those of 12 to 15 a quarter on three, other races of eight or more pay a fifth on three, and races of five to seven a quarter on two. With fewer than five runners, the place stake counts as a win stake. Extra places are offered from time to time as promotions.
Racing is open in-play, qualifying racing bets can be cashed out, and UK and Irish races are among the app's streams, though some racing and greyhound streams need a qualifying bet.
Live betting
In-play betting covers football, racing and many other sports.
Sportsbook Cash Out settles an open bet early for the value Betfair offers at that moment, which moves with the bet's chance of winning. Qualifying bets are flagged in My Bets across sports including football, tennis and racing, and an offer can appear before the start, in-play or between legs. Not every market qualifies.
Live Video needs an open, funded Betfair account; what can be watched varies by sport, event and territory, and most content is free. Pictures run behind the live action, and Betfair advises against relying on them when betting.
Mobile app
The Sportsbook app is called Betfair Sports Betting. Betfair Ltd publishes it for iPhone through Apple's App Store and for Android phones through Google Play, rated for adults only. Its listings highlight in-play betting, Bet Builder, live streaming, 90 Minute Payout, Safe Sub, a search feature and the safer gambling tools.
Safer gambling
Deposit Control caps deposits daily, weekly or monthly: tightening it takes effect immediately, loosening it waits 24 hours, and Betfair can set a deposit limit too. A loss limit caps how much can be lost or transferred over a chosen period, and Reality Check adds session timers and pop-up reminders. Time Out bars use of Betfair's services for one to 30 days, with no early way back, and self-exclusion closes the account for at least six months.
Betfair takes part in GAMSTOP. Subject to account matching and its terms, a full self-exclusion can also reach related Paddy Power, Sky Betting and Gaming, PokerStars and tombola accounts, but limits, Reality Check and product exclusion set on Betfair are not copied across automatically.
Frequently asked questions
Is Betfair Sportsbook the same as the Betfair Exchange?
No. The Sportsbook offers Betfair's own fixed odds, and its bets are placed with PPB Counterparty Services Limited, account 39439. The Exchange, where customers bet against each other, has separate apps and is provided by TSE Malta LP, account 39561.
How does Betfair hold customer funds?
Betfair's terms say account funds are generally held by The Sporting Exchange (Clients) Limited under a trust arrangement that Betfair describes as meeting the Gambling Commission's 'high protection' level, subject to stated exceptions.
Does Betfair Sportsbook offer Cash Out?
Yes, on qualifying bets. The offer reflects the bet's current chance of winning, and not every market qualifies.
What are Betfair Sportsbook's each-way terms?
They vary by race, for example a fifth of the odds on three places in most races of eight or more runners, and a quarter on four in handicaps of 16 or more.
How do Time Out and self-exclusion work at Betfair?
Time Out pauses the account for one to 30 days, and self-exclusion lasts at least six months. Under Betfair's terms, a full self-exclusion can also reach related Paddy Power and Sky Betting and Gaming accounts.