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Betfair
Betfair, a Flutter Entertainment brand, runs the Betfair Exchange, where customers bet against each other and Betfair takes a commission, alongside a fixed-odds sportsbook. Both hold Gambling Commission licenses in Great Britain.
Who Runs Betfair
Betfair is a Flutter Entertainment plc brand whose main product is a betting exchange. Flutter's predecessor merged with Betfair Group plc on February 2, 2016, and changed its name to Paddy Power Betfair plc, then to Flutter Entertainment plc on May 28, 2019. In Great Britain the exchange is licensed on Gambling Commission account 39561, held by TSE Malta LP, and the fixed-odds sportsbook on account 39439, held by PPB Counterparty Services Limited. That's the same account and company as Paddy Power's sportsbook. Betfair LTD publishes the apps on the UK App Store.
How Does the Betfair Exchange Work?
On the exchange, customers bet against each other and Betfair makes a commission on the bets. You can back an outcome or lay it, taking the side a bookmaker normally would, and Betfair matches the two sides without taking the bet itself. Because an exchange builds no margin into its prices, the commission is where the cost sits. The headline price is better, and the charge comes when the bet settles. Account 39561 holds a remote betting intermediary license, the formal license class for an exchange, and it has run since November 1, 2014.
What Can You Bet on at Betfair?
On the exchange, a bet only exists if another customer takes the other side. So a price can beat a bookmaker's, but a market can also be too thin to fill, most often on minor events and narrow in-play markets. The sportsbook takes bets at fixed odds in the usual way. Betfair's markets include football (soccer), horse racing, tennis, greyhound racing, politics, cricket, golf, boxing and rugby. The exchange license also covers a second domain, predicts.betfair.com.
Where Else Is Betfair Licensed?
Outside Great Britain, Betfair holds a Malta Gaming Authority license and licenses specific to Gibraltar, Italy, Spain, Denmark, Bulgaria and Australia.
What Other Sports and Races Does Betfair Cover?
Betfair covers 14 sports in all. Beyond those above, you can bet on American football, baseball, basketball, darts, ice hockey, MMA, motor racing and snooker. Its horse racing covers jumps (National Hunt) and flat Thoroughbred racing.
Our Take
Betfair's core product is licensed as a betting intermediary rather than as a bookmaker, and that is the thing to understand before using it: customers set the prices, a market needs someone willing to take the other side, and the operator takes a commission instead of a margin. Readers who want a conventional book will find one on the same site, under a different licence and a different company. Check the commission rate in the terms before assuming the better headline price is the better bet.
Payment Methods
Accepted Currencies
Where Betfair Is Available
The countries we have checked so far. Betfair may operate in others that are not listed yet.