Betting Exchanges are becoming more and more popular amongst on-line gamblers for a number of reasons. You'll usually get better odds at a Betting Exchange and punters often talk of the added thrill of betting against other punters rather than a bookmaker. BetFair are a UK based Betting exchange company and are a market leader in the Betting Exchange industry.
For those who don't know, a Betting Exchange differs from a regular bookmakers because punters can offer their own stake and odds on books. For example a punter would go on and say they're willing to bet £20 on England to defeat Northern Ireland at odds of 1.30 (BetFair uses decimal odds). This money is then added to a pot of all the members offering pay outs of 1.30. When another member selects that Book they will see the best odds offered and the amount of money available on that. They can then bet as you usually would. A Betting Exchange tends to make their money from interest in storing the money and taking a small charge from winnings.
BetFair has a huge range of sports available to bet on. In fact there are few restrictions on sports as members can add their own books with their own odds on any sport. If any member decides to offer odds on a match or event then BetFair will allow it. So for example you could find odds on the Maltese Third Division Cup playoff! BetFair is so popular and has so many members you'll pretty much find the bet you want every time. Although the amount of money you can stake depends on how much those who offer the odds wish to lose - therefore the more obscure bets offer smaller potential stakes.
Customer Service at BetFair is excellent. BetFair offer 24/7 support via Email, Telephone, Fax and Mail. Telephone support in the UK and Australia is free at the time of writing. When you join BetFair you'll get a guide and information sent to you via email and at the time of writing BetFair were calling all new members to welcome them and address any questions. They're also sending out a glossy guide booklet in the post.
BetFair accepts the usual methods of payment. Credit/Debit cards etc.
Summary
BetFair is an excellent bookmakers, even more so if you enjoy betting in Soccer. It can be a little daunting at first and slightly complex - as most Betting Exchanges are to newcomers - but after you go through the excellent online demos and read the help given along the way you'll get to grips and will be laying or backing bets without any problems. If you have any problem then BetFair will literally bend over backwards to help, their support is second to none. BetFair say their odds are usually around 20% better than regular bookmakers and in my experience this is true. The sheer number of members will always make BetFair's odds amongst the best available, even amongst other Betting Exchanges.
Our mark for BetFair: 9/10