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Betfair Bonus Code & Sign Up Offers 2017

#3 of 20 Sports betting bonuses

The Betfair sports offering is split into two distinct parts: the betting exchange, and the traditional fixed odds bookmaker. Betfair was the first betting exchange and dominates that market, whilst the traditional odds sportsbook offers markets for over 25 sports.

The Betfair exchange was established in 1999 but first took bets during the European Football Championships the following year. Betfair is now part of the Betfair Paddy Power limited company after merging with the traditional bookmakers in 2016. Betfair has pre-match and in-play markets for over 30 sports and financials, awards, politics and TV Specials. Betfair commission on the exchange is between 3% and 5% of net winnings. The minimum bet at the exchange is £2 and the maximum bet varies depending on the sport and league. The main Betfair bonus is a welcome offer for new customers using the Betfair sportsbook. It isn’t always online, so if you can’t see it then it’s worth hanging back on joining the site until it reappears. Even if you’re more interested in the Exchange, the sportsbook bonus is worth a look.

30£
New Customer Bonus when you bet £10

HIGHLIGHTS

  • £30 in Free Bets for the sportsbook
  • Deposit and place a bet of £10
  • 3 free bets
  • No wagering requirements
  • Biggest betting exchange
  • Great promotions for existing customers

How does Betfair Exchange work?

Betfair is a betting exchange which operates by bringing together customers who want to bet on something to happen and others who want to bet that it will not. Backers and layers transact based on a mutually acceptable price. In some cases a bet put into the system is not matched by a counter bet. That means that bets can be unmatched, partially matched or totally matched. A betting exchange requires liquidity for bets to be matched, meaning that there has to be a decent amount of customers spending money on the site. New betting exchanges are at a huge disadvantage because their markets lack liquidity, but you’ll be fine on Betfair because it’s by far the biggest player on the scene. Betfair’s main competitor on the betting exchange scene is Betdaq. You can read more information about this provider in our Betfair review.

User ratings

01Bonus Type10.0
02Bonus Height8.5
03Bonus Terms9.0
04Bonus Implementation8.5
05Payability9.5
06Other Bonuses and Loyalty Programme10.0

Rating the Betfair sign up offer

Almost every bookie out there offers you a bonus for joining. In the case of Betfair this is a bonus for the traditional odds sportsbook. The betfair sign up bonus offer isn’t always available, so pick your moment to join up. There have also been Betfair Exchange bonus offers in the past, so keep an eye out incase one comes up again. It’s hard to know where to start looking when you’re comparing the best sports betting bonuses available. That’s why we’ve taken the time to compare the bonuses at each site by evaluating them across the same set of criteria. Whether you’re more interested in the bonus amount or the payment conditions, we’ve got you covered in our Betfair Bonus review. We’ll let you know about any betfair bonus codes and review in detail the bonus type, bonus height, bonus terms, practical implementation, payability and other bonuses for new and existing customers. Comments in these sections can be used to compare the Betfair sign up bonus with those offered by other online bookmakers.

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Bonus Type

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01 Bonus Type

Free Bets for new customers

The Betfair signup bonus is for new customers only and existing customers are not eligible. This is a short term new customer bonus as the free bets are only valid for 30 days and are then lost. The bonus comes in the form of free bets. Funds appear in your account for £30 in free bets after you place a single bet for £10 in the Betfair sportsbook. There are no additional vouchers, betting funds or extras and the bonus duration is 30 days from the time the free bets are credited to your account. The £30 worth of free bets will be awarded regardless of the size of your deposit and the outcome of your first bet. Some other sites, such as 888Sport offer new customer bonuses that depend on the outcome of your first bet. The 888 offer is for trebled odds on your first bet, so if you lose your first bet you effectively don’t get a bonus.

Get £30 Bonus for Betfair

Bonus Height

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02 Bonus Height

A great bonus of £30 when you bet £10

The Betfair bonus height is 300% because after placing your first bet with a stake of £10 the free bets are for £30. The maximum bonus is £30 and there are no circumstances in which that amount can be increased. The £30 in free bets comes in the form of three separate bets worth £10 each. This bonus height compares favourably with the percentage benefit derived from most of the top sports betting bonuses and welcome offers. If you’re looking for a matched deposit bonus with a higher potential bonus amount, then we recommend that you check out bet365 who are offering up to £200 as a 100% matched deposit bonus.
The bonus free bets have to be used separately and they cannot be split. Remember to check the site for the Betfair sign up code.

£30 Free Bets
Bet £10 to get £30 Betfair Bonus
  1. Minimum Stake: £10
  2. Maximum Bonus: £30

Bonus Terms

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03 Bonus Terms

Terms for the Betfair sportsbook bonus

The Betfair sportsbook signup offer takes a fairly standard form, so you shouldn’t find any nasty surprises down the line. It is subject to the following terms and conditions:

  • Three £10 bets will be credited to your account after you register and place the first bet at odds of 1/5 or higher
  • The qualifying bet must be a single and placed within the first 30 days of opening your Betfair account
  • The free bets for the sportsbook will appear in your account within a day of placing the qualifying bet
  • Each free bet can be used once, and the bets cannot be split, so if you want to use one to wager less than £10, the remainder will be lost.
  • Free bets must be used within 30 days of them being credited
  • There is no Betfair bonus code required to take advantage of this offer
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    New Customer Free Bets

    Bonus Type
  • icon

    1/5

    Minimum Odds
  • icon

    N/A

    Turnover Requirement
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    Yes

    Bonus Payable
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    £10

    Minimum Deposit
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    £30

    Max Bonus
Claim Betfair Bonus Now!

Bonus Implementation

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04 Bonus Implementation

How do I use the Betfair bonus?

Betfair sign up offers have no major hindrances and the practical implementation is straightforward and easy to understand. The process begins with opening a new account and a deposit is then made. The free bets are issued immediately and they can be used in the Betfair sportsbook. Other traditional providers such as bet365 offer more lucrative promotions but the Betfair offer compares favourably with the equivalent promotion with Betdaq. The Betdaq free bets are at a value of £25 after £100 has been won or lost so the bonus height is 25%.
The one point which might attract you to the Betdaq bonus is the fact that it is a bonus for the exchange. If you have no interest in traditional sportsbooks then you might not want to take advantage of the Betfair bonus because it requires you to bet on the ‘normal’ odds offering.

Payability

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05 Payability

Getting your winnings from the Betfair bonus

Any winnings that you get from the free bets awarded with the Betfair bonus code will be paid out minus the stake amount. The free bets themselves cannot be taken from an account before they’ve been used, but you have access to the winnings as normal.
Payments can be processed at Betfair using credit or debit card, as well as the following online methods:Neteller, Skrill, PayPal, Web Money and PaySafeCard. There are no transaction fees with regards banking with Betfair and normal delays apply in keeping with standard banking procedures. Remember that if you have made your initial deposit through paysafecard you’ll have to select a different withdrawal method. Traditional bookmakers such as Ladbrokes offer a similar range of payment options.

Other Bonuses and Loyalty Programme

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06 Other Bonuses and Loyalty Programme

Plenty to keep you interested at Betfair

Betfair have an ongoing sports promotion related to football matches in the English Premier League which is valid for existing customers. When you place a bet on the first, last or any time scorer in the sportsbook and the backed player scores the first goal and the second goal Betfair will double the odds. Winnings are paid in cash at the regular price and extra returns are paid in the form of free bets. The maximum qualifying stake is £10 and Cashed Out bets, free bets and exchange bets do not count.

There are also usually several other offers available, related to events which are on at the time. For example, Betfair is known for providing great bonuses for horse racing around the time of the Grand National and other big meets. If there’s an event coming up that you’re interested in be sure to navigate to the promos tab to see what’s on offer. Keep a lookout for Betfair bonus codes to take advantage of these offers.

Betfair offers other gaming products and some bonuses apply there too. Casino players are given a 100% deposit bonus up to a maximum of £100. All new Betfair poker players receive a sign up offer bonus of £40 in the form of a 200% bonus. New customers also receive free entry to various games and tournaments. New arcade players are credited with a bonus of £10. You may need a Betfair bonus code to use these offers so make sure that you check before signing up.

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Have you already joined Betfair and taken advantage of the Betfair new customer bonus? Perhaps you had a different experience to the one described above. Yourate.com aims to improve the online sports betting experience of everyone in our community and your reviews can help us do just that. If you have experience of this bookie then leave your own ratings report today and contribute to a growing community of online gamblers. We look forward to hearing from you!

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Conclusion & Short Review

Customer Service

The Betfair Help Centre provides online guidance for verifying an account, login and registration, depositing and withdrawing, sports promotions and offers, account procedures, player protection and Cash Out. Customers can contact Betfair by live chat, email, postal address and telephone. The company has a social media presence on Facebook and Twitter. Betfair promotes responsible gambling with useful advice and links to organisations that provide advice and support to problem and addictive gamblers. There is also specific help for minors who legally are not allowed to bet until reaching the age of 18. Betfair account holders can make contact and discuss more specific issues using a Live Chat facility - when you click to access the help centre, it lets you know the average waiting time to speak to an agent.

Licensing and Security

Betfair is regulated by the Malta Gaming Authority, Alderney Gambling Control Commission, Isle of Man Gambling Supervision Commission, Gibraltar Gambling Commissioner and the UK Gambling Commission. These bodies ensure that the bookmaker sticks to strict standards and protocols when it comes to the protection of you and your personal information. All financial transactions are handled using industry standard encryptions so you know you have nothing to worry about when betting at betfair.

How does the Betfair Exchange work?

Exchange betting gives customers the option to act as a bookmaker and lay a bet (bet against an outcome). Having accepted a bet you can place a counter back bet which means you will win however the event pans out. Fixed odds bookmakers latched on to the attractions of this scenario and replicated the second bet through a Cash Out option. If events work out as you have predicted a bet can be closed before expiry to guarantee a win regardless of the outcome. Conversely a losing bet can be closed to minimise the loss. Betfair use their cash resources to promote their betting exchange in the racing press and on commercial television. Betdaq do something similar but their budget is much smaller and most of their advertising is in print. Betfair dominate the market so can afford to impose higher commission rates than Betdaq. Being more expensive than the main competitors has not had a negative impact on Betfair’s market share so far. The company is one of the massive dot.com success stories of the 21st century.

How has Betfair changed the industry?

Major well-established fixed odds bookmakers like bet365 and Ladbrokes are trying to attract exchange bettors with their Cash Out facility, however exchange bettors still have more scope with regards the odds at which they back and lay their selections. Betting margins are generally more competitive compared to those written into fixed odds. Exchange betting in general and Betfair in particular has changed the UK betting industry both in cash betting offices and on race courses. Bookmakers at race meetings now use Betfair to lay off bets when the past they used other bookmakers on the course to perform this function. On-course betting has lost some of its attraction because there are very few price differences available to cash bettors. The industry starting price at which bets placed in betting offices are settled is now closely linked to the Betfair SP. Despite these negatives Betfair has increased choice for consumers. Before exchange betting appeared a bettor only had the option of backing an event to happen. When events transpired in line with predictions and the odds moved accordingly there was no facility to close a bet to guarantee a profit. Betfair introduced the concept of laying a bet to customers of fixed odds bookmakers. This option also gave rise to the new occupation of sports trader. This new breed of gambler takes advantage of price movements to make a living. The opportunities to lay a bet have given rise to anecdotal evidence of corruption. There have been a small number of cases in the UK of unscrupulous connections laying their own horses to lose. However, only a very small proportion of horse races run in Britain and Ireland have been subject to suggestions of manipulation for financial gain. The Gambling Commission and racing authorities have integrity units to monitor and act upon illegal behaviour. On balance exchange bookmakers including Betfair have enhanced the betting experience in the UK. There is now more choice and traditional bookmakers have responded with free bets and promotions. Odds are generally better on Betfair than sites like bet365 so ultimately customers get better value in the form of improved odds and lower margins.

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