Betfair New Customer Offer: Up To £100 In Free Bets*
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Betfair New Customer Offer 2021
Betfair new customer offer – January 2021
Please note: the Betfair bet 10 get 50 in free ACCAs offer ended at 10am GMT 10.12.20 and is no longer available anywhere on the internet. Paddy Power, however, have just launched a Bet £10 Get £50 In Free ACCAs promotion, which they run across some of the biggest football fixtures. For further details read our Paddy Power Bet 10 Get 50 page.
Betfair new customers are offered up to £100 or €100 in free bets, which in today’s online sports betting market is difficult to beat. All of the latest Betfair new customer offers are listed on this page alongside the correct qualifying links and relevant promotion codes.
For those needing the promo code for the Betfair Sportsbook up to £100 or €100 (Republic of Ireland) offer, press ‘Reveal’ at the top of the page to claim your Betfair sign up offer today.
- *Betfair sign up offer – up to £100 in free bets: Betfair new customer offer. Place 5 x £10 or more bets to receive £20 in free bets. Repeat up to 5 times to receive maximum £100 bonus. Min odds 1/2 (1.5). Exchange bets excluded. Payment restrictions apply. T&Cs apply.
|Betfair Sportsbook||Betfair Sign Up Offer|
|Free Bet Value||Up To £100 Or €100 Offer|
|Minimum Odds||1/2 (1.5)|
|Qualifying Link||Claim Here|
|Terms||Betfair new customer offer, 18+, T&Cs apply|
Betfair New Customer Offer UK
Betfair Sportsbook is one of the most innovative online bookmakers in the UK, and their very latest new customer offer is different to anything else in the market. It gives new customers the ability to unlock up to £100, over the first 30 days of new membership.
|Betfair Product||Betfair New Customer Offer||Country||Min Deposit||Promo Code||Qualifying Link|
|Betfair Sportsbook||£100 In Free Bets Offer||UK||£10||ZBBC01||Claim Here|
|Betfair Exchange||£20 Risk-Free Bet Offer||UK||£10||VAL225||Claim Here|
|Betfair Casino||100% Bonus Up To £100||UK||£10||CASW01||Claim Here|
|Betfair Bingo||Bet £10 Get £50 & 30 Free Spins||UK||£10||BIN050||Claim Here|
For the Sportsbook offer, simply place 5 x £/€10 qualifying single bets and you’ll receive £/€20 of free bets each time. This can be repeated 5 times in all in the first 30 days from registration. For a more detailed walkthrough of how this Betfair opening offer works read our Betfair £100 Free Bets Explained page. We also have the latest Betfair new customer offer across all of their products which are listed above alongside the correct qualifying links and relevant Betfair promo codes. Betfair new customers only, 18+, T&Cs apply.
Betfair new customer offers currently span sportsbook, casino, bingo and poker products. Their up to £100 free bets offer in the UK is a high value new sportsbook customer offer which puts you in the driving seat as to how many free bets you want to unlock. Press the ‘Reveal’ button at the top of the page to reveal the latest promo code you need to access.
- Betfair Sign Up Offer – Sportsbook, Up To £100 in free bets: New customer offer. Place 5 x £10 or more bets to receive £20 in free bets. Repeat up to 5 times to receive maximum £100 bonus. Min odds 1/2 (1.5). Exchange bets excluded. Payment restrictions apply. T&Cs apply.
- Betfair Sign Up Offer – Exchange, £20 free bet: New customers only, bet up to £20 on the Exchange and if your first bet loses, we’ll refund you £20 in Cash. Bet must be placed in first 7 days of account opening. T&Cs apply. Payment restrictions apply.
- Betfair Casino, 100% Bonus up to £100: New customers only. Minimum £10 deposit, x45 wagering, roulette and blackjack 50% weighting. Bonus valid for 7 days. Not available to customers using Skrill or Neteller as a payment method. Full T&Cs apply. For further details read our Betfair 100 Welcome Bonus page.
- Betfair Bingo, Bet £10 Get £50 & 30 Free Spins: Key terms: Registration code: BIN050. Bet £10 on Bingo tickets (slots wagering will not count) to receive a £40 Bingo Bonus (x4 wagering), £10 Slots Bonus (x10 wagering) + 30 Free Spins on Dragon’s Luck. Available 30 days from registration to Betfair. SMS verification required for free spins. No wagering on free spins winnings. T&Cs apply. For further details read our Betfair Bingo 50 Welcome Bonus page.
Betfair New Customer Offer Ireland
Betfair has a growing customer base in the Republic of Ireland, as canny Irish punters take advantage of some fantastic new customer offers. The Sportsbook up to €100 of free bets offer has taken off in Ireland as it’s one of the best deals currently on offer. Below you’ll find the full Betfair Ireland new customer offer range including any required promo code and promotion qualifying link with which to access.
|Betfair Product||Betfair New Customer Offer Ireland||Country||Min Deposit||Promo Code||Qualifying Link|
|Betfair Sportsbook||€100 In Free Bets Offer||Ireland||€10||ZBBC01||Claim Here|
|Betfair Exchange||€20 Risk-Free Bet Offer||Ireland||€10||VAL225||Claim Here|
|Betfair Casino||100% Bonus Up To €100||Ireland||€10||CASW01||Claim Here|
|Betfair Bingo||Bet €10 Get €50 & 30 Free Spins||Ireland||€10||BIN050||Claim Here|
Significant terms for Irish Betfair new customers:
- Betfair Sportsbook, Up To €100 in free bets: New customer offer. Place 5 x €10 or more bets to receive €20 in free bets. Repeat up to 5 times to receive maximum €100 bonus. Min odds 1/2 (1.5). Exchange bets excluded. Payment restrictions apply. T&Cs apply.
- Betfair Exchange, €20 free bet: New customers only, bet up to €20 on the Exchange and if your first bet loses, we’ll refund you €20 in Cash. Bet must be placed in first 7 days of account opening. T&Cs apply. Payment restrictions apply.
- Betfair Casino, 100% Bonus up to €100: New customers only. Minimum €10 deposit, x45 wagering, roulette and blackjack 50% weighting. Bonus valid for 7 days. Not available to customers using Skrill or Neteller as a payment method. Full T&Cs apply.
- Betfair Bingo, Bet €10 Get €50 & 30 Free Spins: Key terms: Registration code: BIN050. Bet €10 on Bingo tickets (slots wagering will not count) to receive a €40 Bingo Bonus (x4 wagering), €10 Slots Bonus (x10 wagering) + 30 Free Spins on Dragon’s Luck. Available 30 days from registration to Betfair. SMS verification required for free spins. No wagering on free spins winnings. T&Cs apply.
Betfair Sign Up Offer - Step by Step Introduction
Follow this step-by-step guide below to access your up to £/€100 of free bets with Betfair Sportsbook.
- Step 1 – Close any instances of the Betfair website on your browser.
- Step 2 – To access the Betfair new customer offer, click here – our Sportsbook links qualify you for and entitle you to the up to £100 of free bets welcome offer, which is also available in € for Republic of Ireland residents.
- Step 3 – Now you’ve landed on the Betfair website. Click the “Join Now” link in the middle of Betfair’s website.
Now start filling out your details under the ‘Sign Up’ header. You’ll be asked to enter a username and password which you should record and keep private – you need these details ongoing to login. Remember to ensure that the ‘Promo code/Referral code’ field is populated with the promo code ZBBC01 to activate your up to £/€100 of free bets. Click the ‘Join Now’ button to become a Betfair customer.
- Step 4 – Now you’ve registered, it’s time to make your first deposit. It’s imperative that you make your first deposit via either a debit card or via PayPal. The reason being that customers placing their first deposit via Skrill, Neteller or Moneybookers will not qualify for this ZBBC01 promo code free bet offer. To unlock your first £/€20 free bet, place 5 x £/€10 (or more) single bets on the Sportsbook each at minimum odds of 1/2 (1.5). Win only bets need to be a minimum of £/€10, with each-way bets at £/€5 each-way (£/€10 in-total). Multiple bets are excluded.
- Step 5 – After your 5 qualifying bets have been settled, you’ll receive a £/€20 free bet. Free bets will be awarded within 24 hours of you completing the qualifying requirement. This process can be used a maximum of 5 times and the maximum amount of free bets available is £/€100. You have 30 days from the point of registering with the correct promo code to place qualifying and settle bets.
Betfair Welcome Offer
The Betfair welcome offer for sportsbook is undoubtedly one of the strongest promotions available both in the United Kingdom and the Republic of Ireland. Their up to £100 (UK) or €100 (Ireland) sign-up offer allows new customers, 18+ to access free bets up to £/€100 in the first 30 days of placing qualifying bets as a Betfair Sportsbook punter. Full welcome promotion details are available below:
- Betfair Welcome Offer Amount – Up to £/€100.
- Qualifying Deposit – £/€10
- Qualifying Deposit Method – has to be via either a debit card or Paypal. Deposits made using Neteller or Skrill (Moneybookers as was) are excluded from this promotion and other Betfair new customer offers.
- Qualifying Bet – Sportsbook (Fixed Odds) – The promotion is triggered after you have placed 5 x £/€10 (or more) single fixed odds (not exchange) bets each with odds of at least 1/2 (1.5).
- Free Bet Activation Requirements – After your 5 qualifying bets have been placed and settled, you’ll receive a £/€20 free bet. Free bets will be awarded within 24 hours of you completing the qualifying requirement. This process can be used a maximum of 5 times and the maximum amount of free bets available is £/€100.
- Free Bet Terms and Conditions – Bets placed and settled within the first 30 days of account opening qualify. You can stake more than £/€10 but it will only count as one qualifying bet. Cashed Out and Voided bets do not qualify. Bets placed using free bets as the stake (in full or in part) will not qualify. Multiple bets are excluded. Free bets are valid for 30 days.
Betfair New Customer Offer England
Betfair Sportsbook continues its huge growth as a fixed odds online bookmaker by offering very attractive new customer offers on England football internationals. These promotions are for new customers only and feature increased, enhanced odds on England to beat their opposition. All Betfair England offers require a promo code which needs to be in place when new customers register as part of the new customer journey. These Betfair promotions are for both United Kingdom and Republic of Ireland 18+ residents and are for new customers only.
Betfair offer boosted odds on England to win across all matches both at Wembley and also away from home. These promotions are for a new customer’s first bet only. Their deals feature a maximum £1 or €1 maximum stake and beware that only first deposits with cards or Paypal qualify for these England offers. – no e-wallet deposits from other providers qualify.
The very latest Betfair New Customer Offer for England will be detailed here once confirmed.
Betfair New Customer Offer 2021 Updates
The Betfair new customer offers detailed on this page are due to run throughout 2021. If any of the deals change before that time then we’ll list the updated Betfair promotions on this page.
Betfair Existing Customers
If you’re an existing Betfair customer, a breakdown of ongoing sports promotions offers is summarised further down the page – click here to view these offers. Betfair were one of the first bookmakers to recognise that their existing customer base needs to be incentivised to remain happy, so free bet promotions are a core part of the Betfair marketing platform. However they DO NOT give away ad-hoc free bets via promo codes. So if you are looking for an immediate free bet via a bonus code you won’t find one anywhere online.
However below we’ve hand-picked 2 online bookmakers who currently offer the best value when it comes to free bets in the market today. Paddy Power and William Hill have a promotional offer where they give away either guaranteed free bets or bet boost tokens ongoing. Welcome free bets and bonuses are available immediately and both bookmakers are top-ranked for ongoing sports promotions across football and horse racing.
Why Become A Betfair New Customer?
Betfair Sportsbook shares heritage with their pioneering Exchange product which revolutionised the world of betting back in 2000. Many a sports punter still believe that Betfair is purely an exchange product, but that’s clearly not true as Betfair Sportsbook has been offering fixed odds bookmaking since 2012. Betfair Sportsbook is undoubtedly an excellent product and it offers fixed odds punters plenty of innovative features and promotions which make them stand out from the opposition. Take their current new customer promotion, which is different and offers-up to £100 or €100 of free bets. Place 5 single bets of £10 or €10 and Betfair Sportsbook give you a £/€20 free bet. You can repeat this 5-times over the first 30 days of you being a Betfair Sportsbook customer. To access this Betfair sign up offer, simply click on any of our qualifying links or the ‘Reveal’ button at the top of this page.
- Betfair Sportsbook Up To £100 in free bets: New customer offer. Place 5 x £10 or more bets to receive £20 in free bets. Repeat up to 5 times to receive maximum £100 bonus. Min odds 1/2 (1.5). Exchange bets excluded. Payment restrictions apply. T&Cs apply.
Once you’ve registered, Betfair are renowned for keeping their customers happy and loyal. Each Way Edge is innovative giving you control when it comes to the each-way places you want to take. Each Way Edge allows you to alter the place terms of your Each Way bet. You can choose to add extra places for a small decrease in price, or remove places to increase your potential return – all from within the betslip. Best Odds Guaranteed on all United Kingdom and Republic of Ireland Horse Racing is also available. Best Odds Guaranteed applies to any price taken on singles and multiples after 8am on the day of the race in the race winner market for both win and each-way bets. However it does not include bets placed using the Each Way Edge functionality.
Other key ‘buy-ins’ with Betfair Sportsbook are the sheer amount of additional each way places they give away across both Horse Racing and Golf. Now that Betfair has merged with Paddy Power, it’s clear that strategies have been aligned across those two sports when it comes to giving extra value in terms of places returned on each way betting. When it comes to horse racing, Betfair are now at the forefront of giving away additional places across the big races, festivals and each week on ITV Racing. From a golf betting perspective, Betfair Sportsbook now mirror Paddy Power at the Major Championships, with 10 places each way at 1/5 odds now commonplace. However Betfair Sportsbook also give away 8 places each way 1/5 odds across all full-field PGA Tour and European Tour tournaments, week-in, week-out. That’s something that most other online bookmakers get nowhere close to.
From a Gaming perspective, Betfair Casino offers a first-class online experience. Their £/€100 joining offer is powered via a first deposit 100% Welcome Bonus, turning a £/€100 first deposit into total funds of £/€200. They have always offered a specific promotion for slots players as well, so look out for that higher value promotion in our current promotions information further up the page or read our Betfair Casino promo code page for a more detailed explanation.
A summary of the latest Betfair new customer offers and ongoing customer promotions can be seen below:
|Betfair New Customer Offer|
|Upto £100 or €100 in Free Bets||Recently launched, Betfair Sportsbook give new customers the opportunity to access £100 (UK) €100 (ROI) of free bets across the first 30 days of being a Sportsbook customer.|
|£100 All Games Welcome Bonus with Betfair Casino||A generous £100 Welcome Bonus available across all games for new players with Betfair Casino.|
|£400 Slots Welcome Bonus With Betfair Casino||You can also access a 200% Welcome Bonus up to £400 for slots lovers with Betfair Casino.|
|ACCA Boost||Win up to 50% more on your first accumulator bet of the week. Place any 3-fold or above on football or any sport and if you win you will receive a bonus between 5% and 50% on your profit.|
|Best Odds on all English Football||Betfair offered the lowest overrounds on average on Premier League, The Championship, League One and League Two pre-match match odds markets between 1/1/17 - 30/9/17.|
|Maximum Payout Protection||Betfair Sportsbook are not scared of taking a bet or paying-out big sums. Their £1 million daily maximum payout limit across the top competitions is exceptional.|
|Horse Racing Betting|
|Each Way Edge||Betfair offers you control of your each way betting. You can add additional places, or remove places to increase the odds. Flexibility between 2 - 5 places each way puts you in control.|
|Best Odds Guaranteed - UK and Ireland||From 9am onwards if the starting price is bigger Paddy Power will pay you out at the bigger odds.|
|Back a 3/1+ Winner and Get a £/€25 Free Bet||Back a winner at 3/1 (SP) or greater on any live ITV or ITV4 Racing race and receive a free bet to the same value up to £/€25.|
|Additional Each-Way Places on the Big Races + Handicaps||Betfair offers punters additional each way places every day, but go to town on live ITV Racing meetings where 4, 5 and 6 places each way are made available.|
Betfair Sportsbook by Sport
We took a Premier League fixture and ran through the individual betting markets available pre-match with Betfair. In all, 186 markets were available to place a bet on. Naturally we will not list all of the individual markets, but a flavour can be seen in the list below:
Pre-Match Popular Markets available: Match Betting, Both Teams to Score, Both Teams to Score and Total, Match Result and Both Teams to Score, Double Chance, Draw No Bet, Half-Time/Full-Time; Scorecast Markets: First Goalscorer Scorecast, To Score Anytime, Last Goalscorer Scorecast, 1st Half Scorecast, Goalscorer Markets: First Goalscorer, Last Goalscorer, First & Last Goalscorer, Anytime Goalscorer; Scorer Win Cast, Total Goals, Exact Total Goals, Total Goals Odd/Even; Handicap Markets: Handicap 0:2, 0:1, 1:0, Asian Handicap 1st Half & 2nd Half; 5 Minute Markets: Goal Scored, Corner Awarded, Card Shown, Penalty Awarded, What Will Happen?; Goal Time: Time of 1st Goal by Team, Time of 1st Goal Under/Over by Team; Match Goal by 15 minutes.
In-play Premier League Betting – 106 different in-play markets available across Premier League matches. You’ll struggle to find another online bookmaker with this depth of coverage.
ACCA Boost – Betfair offer the potential for an ACCA Boost on your first accumulator bet of the week. Betfair offers a bonus pool on successful 3-folds up to 10+folds. So successful 3-fold accumulators receive a 5% bonus on top of the bet profit. 4-folds receive 10%, 5-folds 15%, up to 50% for successful 10+fold accumulators. The boost is only valid on the first accumulator of the week you place (00:00 Monday to 23:59 Sunday) and if your first accumulator does not generate a profit, any successful accumulators in that week will not receive a bonus.
Only qualifying bets placed using cash will be eligible for this promotion. Bets placed using free bets will not qualify. Bonuses will be paid in free bets. Please note free bets can take up to 48 hours from settlement to be credited. Cashed Out bets or Betfair Exchange placed bets are not valid.
Best Odds on English Football – Many a regular football punter rate Betfair Sportsbook for best odds on English football and now research backs-up the claim that Betfair offer the very best odds in the industry, when it comes to pre-match bets across the top 4 leagues in England. Betfair offered the lowest over rounds on average on Premier League, The Championship, League One and League Two pre-match match odds markets between 1/1/17 – 30/9/17.
Football Cash Out – Betfair Cash Out supports multiples and football accumulators. Cash Out lets you settle your bets when you think the time is right, so if you’ve placed a successful ACCA with a single leg still outstanding, you can take control of your bet and cash out your winnings.
Betfair Sportsbook cover every United Kingdom and Republic of Ireland Full Service horse race. They also price-up Full Service racing from Dubai, plus there’s excellent coverage of South African and United States racing with live streaming available at some meetings. Betfair Sportsbook though push the envelope by also covering Happy Valley in Hong Kong and even Chilean racing.
Betfair offer Best Odds Guaranteed on all bets placed in their pre-race win and each way markets. This promotion is nothing new, but Betfair have just added this and Best Odds Guaranteed includes all races across the United Kingdom and Republic of Ireland.
Each Way Edge – Gives the punter complete flexibility when it comes to what odds to take based upon the number of each way places. As per every bookmaker, Betfair offer standard each way terms on the winner market, but Each Way Edge – signified if available within the betting slip, gives you the opportunity to remove places for better odds, or add more places to help maximise a return.
Cash Out on Horse Racing Multiples – Horse Racing cash out is available on the outright race winner market on all races. You can now Cash Out your win and each-way horse racing accumulator bets in full, or partially, both pre race or in-running.
Bets available: Win, Each-Way, Match Bets, Without Favourite, Insurebet
Horse Racing Specials – Additional each way places has always been a speciality of Betfair and that heritage continues to this day. Take any live ITV Racing meeting and Betfair will always give additional places be that 4 places or 5 places each way across the big handicaps. Each way returns for the place are always at 1/5. Betfair always, where possible, give additional places away on the big feature races across the season as well and when it comes to the big festivals such as Cheltenham, the Guineas, the Derby, Ebor, Royal Ascot and Glorious Goodwood, they make a huge effort to maximise the number of places available for their punters.
There’s no doubt that Betfair provides fantastic golf coverage and a real depth of markets. Betfair covers all Major Championships, World Golf Championships, PGA Tour and European Tour tournaments. Unlike plenty of other online bookmakers, Befair also provides Outright Markets across the secondary level of professional golf covering the Asian, OneAsia, Australasia, Japan Golf, Korean, South American, Sunshine Tours and in the United States the LPGA, Champions Tour and web.com Tour events.
Markets available: Outright Betting, Top 5, Top 10, Top 20, Top 30, Top 40, 1st Round Leader, 2/3 Balls, Match Betting, Enhanced Double Chances, Treble Chance, Tournament Group Betting, Top American/European/Scottish/Australian/Asian/Korean, Forecasts and Dual Forecasts.
Betfair Sportsbook are now also the leaders when it comes to offering additional each way places. Each week Betfair offer additional places at 1/5 odds across both European and PGA Tours. That’s a promotion that offers huge value for regular golf punters. Naturally they also offer additional each way places across the Major Championships including the Masters, U.S. Open, Open Championship and the PGA Championship.
Betfair Key Betting Features
Betfair TV offers customers a diverse range of sports events to view with thousands of matches, tournaments and races broadcast weekly. To stream the games or races, you’ll be needing a positive account balance, or you should have placed a bet within the last 24 hours. Through Betfair TV you can watch a multitude of events. Football is covered in-depth with action across a whole of European competitions and action from further afield including the Chinese Premier League. Tennis sees action pretty much every day across both ATP and WTA Tours. Basketball is well covered across the United States and European competitions and international cricket coverage includes T20s, ODI and Test Match cricket. Betfair also make a concerted effort, showing live greyhound action from around the United Kingdom every night.
Betfair TV also brings Horse Racing live streaming. Every United Kingdom and Republic of Ireland race is available, with fantastic coverage across the United States, South Africa and the UAE.
Live Horse Racing Streaming – Betfair TV
You can always watch UK and Irish Horse Racing via Betfair TV. Coverage from At The Races and Racing UK is streamed via Betfair for punters who place qualifying bets online. Qualifying bet examples: £1 single, 50p each-way.
Racing UK cover the following tracks: Aintree, Ascot, Ayr, Bangor, Beverley, Carlisle, Cartmel, Catterick, Cheltenham, Chester, Epsom, Exeter, Goodwood, Hamilton, Haydock, Huntingdon, Kelso, Kempton, Ludlow, Market Rasen, Musselburgh, Newbury, Newmarket, Nottingham, Perth, Pontefract, Redcar, Salisbury, Sandown, Thirsk, Warwick, Wetherby, Wincanton and York.
At The Races cover the following tracks: Bath, Brighton, Chelmsford, Chepstow, Doncaster, Fakenham, FFos Las, Fontwell, Hexham, Leicester, Lingfield, Newcastle, Newton Abbot, Plumpton, Ripon, Sedgefield, Southwell, Stratford, Taunton, Towcester, Uttoxeter, Windsor, Wolverhampton, Worcester and Yarmouth.
At The Races have exclusivity when it comes to Republic of Ireland Racing. 26 courses are covered – Ballinrobe, Bellewstown, Clonmel, Cork, Curragh, Down Royal, Downpatrick, Dundalk, Fairyhouse, Galway, Gowran, Kilbeggan, Killarney, Laytown, Leopardstown, Limerick, Listowel, Naas, Navan, Punchestown, Roscommon, Sligo, Thurles, Tipperary, Tralee, Tramore and Wexford.
A key strength of Betfair Sportsbook is its wide range of in-play betting markets, especially for football, golf and tennis – although other sports, including cricket, rugby, baseball, basketball and even handball, volleyball, badminton and beach volleyball are covered. The sheer variety available is something that grabs your attention compared to other United Kingdom facing online bookmakers.
Betfair Cash Out was one of the first to market. Betfair’s Cash Out is perhaps the most popular form of this feature currently available. Lock-in profit, lay-off your stake, or minimise a loss – it’s all very possible with Betfair Cash Out. Some other bookmakers do not facilitate partial cash out and that’s well worth bearing in mind as Betfair allows that. With visual sliders, it’s easy to use and decide how much of your stake you want to cash out and how much you want to let ride until the end of the event.
One of the advantages of the tie-up with Paddy Power is that customers can now make cash deposits into their Betfair account from any Paddy Power shop across the United Kingdom and the Republic of Ireland. Photo ID is required on the first deposit made, but Paddy Power staff take your cash deposit and ensure that funds are transferred to your existing Betfair wallet.
A totally unique scenario with Betfair due to them having both Sportsbook Fixed Odds and Exchange products. Price Rush works with single bets. At bet placement Betfair automatically check the prices offered by the thousands of customers on the Betfair Exchange. If your price has been rushed you will see a confirmation message on your bet receipt and the new potential return shown will include this rush – so potentially higher odds on your selections, automatically added.
The rise of Betfair has been one of the biggest success stories of online sports betting. Clearly the Betfair brand established itself by the introduction of something totally new in the world of betting – the betting exchange – linking individuals to back and lay between themselves. However nowadays, Betfair is a medium-term established online bookmaker as well, offering both exchange and fixed odds bets to its customers – often allowing customers to benefit from better prices across both. That level of uniqueness is something that Betfair has founded its success upon over the years.
Betfair was the concept of Andrew Black, who had the idea of peer-to-peer betting back in 1998. Providing an exchange where individuals could effectively broker a bet between themselves, with Betfair taking a small percentage of the winners’ return. Andrew Black was a software developer by trade, who developed a betting system in his spare time on sports and horse racing. The system was successful, earning Black some significant income, but more importantly it spurred his interest in sports betting and made him focus on how the arena could be moved forward. He finally hit upon the idea of a peer-to-peer betting exchange, and worked through a prototype which he could take to potential investors or current bookmakers. William Hill ignored him, whilst Ladbrokes and the Racing Post met with Black, but could not get their heads around the concept of ‘back or lay’ or the requirement for no bookmaker – quite logical in the case of the big High Street bookmakers.
Black at this point met with Ed Wray, who worked in the banking industry and after various conversations Wray bought in to the whole concept. They went looking for venture capital investment and eventually after raising £1 million started development of the software. The problem was that Wray’s preaching of the exchange model had seen the idea spread and already new exchange entrants such as Betmart and Betswap had launched. Founded in June 2000, Betfair Exchange was unveiled to the world at a London launch party with the theme of a funeral for bookmakers. The media loved it and Racing Post proactively signed a sponsorship deal off the back of it.
The early days including Euro 2000 saw the established bookmakers run an active campaign to try to discredit exchanges. Early adopters though loved the product and by 2002 Betfair purchased flutter and in the process took control of 90% of the market. 2002 saw Black and Wray awarded the Ernst & Young Award for Emerging Entrepreneur of the year and in 2003 they received the Queens Award for Enterprise in innovation. Betfair Exchange was turning over $10+ million in profit from exchange commission from customers. Betfair’s growth also manifested itself in the establishment of a Hammersmith office.
2005 saw Betfair sponsor the Grand National – the biggest horse race globally. They also purchased PokerChamps, which allowed the Betfair Poker product which was launched the year before to feature its very own differentiating platform. 2006 saw Softbank purchase 23% of Betfair in early April 2006, valuing the company at hefty £1.5 billion. December 2006 saw Betfair purchase the content publishing brand Portway Press Ltd, which owned Timeform, famous for sports data publications since 1948. In March 2007, Betfair launched its own Betfair Radio service, which is now known as Timeform Radio, broadcasting horse racing commentary and results. 2006 also saw Betfair launch a couple of new digital products; Betfair Casino took the brand into online gaming for the first time. Exchange also became available on mobile for the first time.
January 2009 saw Betfair purchase the TVG Network in the United States from Macrovision for $50 million. TVG Network shows horse races across a huge number of tracks in the United States and also facilitates betting across some states. Betfair effectively owns the distribution of horse racing viewing across the U.S. now after Betfair acquired TVG’s sole competitor, HRTV in 2015. Channels TVG and TVG2 offers high quality coverage and insight to subscribers. From a Betfair perspective, late 2009 saw them sign a deal with the New York Racing Association allowing the exchange to show live racing from Aqueduct. Even today Betfair customers can watch live streaming racing from a number of United States tracks. In 2010 Betfair became a public Listed Company on the London Stock Exchange, valuing the company at £1.4 billion.
2011 saw Betfair move key operational aspects to Gibraltar, but 2012 was momentous when Betfair became a true layer, opening up its Sportsbook fixed odds product. At the time it was felt that the Exchange side of the business had reached saturation and if the brand was to reach traditional punters it had to offer a top-level fixed odds service.
Late 2015 saw Betfair and Dublin-based Paddy Power in negotiations to merge. In an online betting sector where size matters and increased regulation plus UK taxation, economies of scale from larger groups makes sense. So in February 2016 Paddy Power plc technically purchased Betfair plc, with Betfair plc CEO Breon Corcoran becoming Paddy Power Betfair plc CEO. Now employing over 6000 people across their Dublin, London and Malta operations, Paddy Power Betfair are one of the elite bookmakers globally. Revenue across financial year 2015/16 was £1.55 billion – up 18%. Active customer numbers were up 11% with 3.9 million people globally now being active group customers. Punters placed an incredible £52 billion of sports bets across the year.
Betfair itself is now the 4th most visited online sports betting and gaming company globally.
Short Facts - Betfair Sportsbook
- Company Name: Flutter Entertainment plc
- Registered Offices: Power Tower, Blocks 1-3 Belfield Office Park, Beech Hill Road, Clonskeagh, Dublin.
- CEO: Peter Jackson
- Founded: 1998
- Employees: 6,000
- Company Registration: Registered in Republic of Ireland company number 16956.
- Licenses: UK: British Gambling Commission under licence number 39439; Malta: Licence No: MGA/CL2/294/2006.
Betfair Sportsbook Customer Support
Betfair Sportsbook customer support may be reached through:
- Live Chat is available 24 hours a day, full-year round.
- Tweet: @BetfairCS
- Freephone: UK Freephone: 0344 871 0000
- Republic of Ireland Freephone: 1800 944 000
- International: 0044 203 059 8888