The original betting exchange — plus a sportsbook and casino, under Flutter Entertainment
Visit Betfair →Online casino is not lawful in Australia
We show no casino offer here on purpose. Under the Interactive Gambling Act 2001, supplying online casino games to someone in Australia is prohibited - so a casino bonus aimed at you here comes from an operator working against that law, whatever licence it holds elsewhere.
Providing online casino games - pokies, roulette, blackjack, online poker - to someone in Australia is prohibited under the Interactive Gambling Act 2001. Licensed SPORTS BETTING is a different matter and remains lawful, which is why this market still shows bookmaker offers: almost every Australian online bookmaker is licensed by the Northern Territory Racing and Wagering Commission, and the same Act separately bans online IN-PLAY betting. The two casino offers we previously published here were, by our own recorded conditions, offshore operators with no Australian licence.
Pros
- The deepest betting exchange in the market — back and lay at peer-set prices
- As an exchange, it doesn't limit winning accounts the way fixed-odds books do
- Base 5% commission instead of a bookmaker margin — strong for value bettors and traders
- Full fixed-odds sportsbook and casino alongside the exchange
- Part of Flutter Entertainment with multiple UKGC licences + Malta
Cons
- Paddy Power Betfair paid GBP 2.2m to the UKGC in October 2018 over social responsibility and AML failures, including on the Betfair exchange
- Two customers were allowed to gamble stolen money, one having defrauded Birmingham Dogs Home of GBP 894,754 to fund a gambling addiction
- The exchange has a learning curve for beginners (back vs lay, liquidity)
- Welcome bonuses are market-specific and modest versus pure sportsbooks
- No cryptocurrency payments
- Only available where it holds a local licence
Our verdict
Betfair is a genuinely differentiated pick because of the betting exchange it pioneered in 2000: a peer-to-peer market where you can back and lay at prices set by other punters, with the deepest liquidity around and a base 5% commission instead of a bookmaker margin. For value bettors and traders it's the standout — and, being an exchange, it doesn't limit winning accounts the way fixed-odds books do. Alongside it sits a full sportsbook and casino, and the whole thing carries Flutter's heavyweight regulation (multiple UKGC licences plus Malta). Bonuses are market-specific and there's no crypto, but where it's licensed, Betfair is one of the strongest all-round choices we cover.
How we rated it
Sportsbook & exchange (25%)8.7
Two products in one: the deepest betting exchange in the market (peer-to-peer back and lay, best for value bettors and traders) plus a full fixed-odds sportsbook with bet builder and cash out. A standout betting offering.
Mobile & UX (10%)8.7
Well-rated iOS and Android apps for both the exchange and the sportsbook, with fast in-play and cash-out.
Payments & payouts (20%)8.4
Regulated local methods (cards, e-wallets including PayPal, bank transfer) with reliable payouts. No cryptocurrency.
Customer support (10%)8.3
24/7 live chat and email, localised per market; generally responsive.
Bonuses & value (15%)7.8
Sportsbook welcome offers vary by market; the exchange competes on price and liquidity rather than big bonuses, charging a base 5% commission on net winnings instead of a margin.
Trust & licensing (20%)6.5
Part of NYSE/LSE-listed Flutter Entertainment (sister to Paddy Power, Sky Bet and FanDuel), holding multiple UK Gambling Commission licences plus Malta — very strong oversight. Marked down on a documented group case: GBP 2.2m in October 2018 covering the exchange as well as Paddy Power, where two customers gambled stolen money - one of them GBP 894,754 defrauded from a dogs home charity - and three more were allowed to bet on despite clear problem-gambling signals.
Quick facts
| Founded | 2000 (first large-scale betting exchange) |
| Owner | Flutter Entertainment (NYSE/LSE: FLUT) |
| Licensing | Multiple UK Gambling Commission licences + Malta Gaming Authority |
| Exchange | Peer-to-peer back & lay; deepest liquidity; base 5% commission on net winnings |
| Sportsbook | Full fixed-odds book with bet builder and cash out |
| Casino | Casino & live casino alongside the exchange and sportsbook |
| Payments | Cards, e-wallets (incl. PayPal), bank transfer. No crypto |
| Markets | Strongest in UK, Ireland, Italy, Spain and more |
How we verified this
Betfair is part of NYSE/LSE-listed Flutter Entertainment and holds multiple UK Gambling Commission licences plus Malta. Its exchange base commission is 5% of net market winnings; welcome bonuses are market-specific and change, so they are shown qualitatively. Confirm the current offer and your local licence on your own Betfair site.
Where Betfair is licensed
Betfair appears on the official register in 16 countries. Highlighted countries have a full local review — pick yours for its welcome bonus and licence details.
South America (2)
Africa (1)
Oceania (1)
About Betfair
Betfair launched in 2000 as the first large-scale online betting exchange, letting punters bet against each other — backing and laying outcomes — rather than against a bookmaker. It merged with Paddy Power in 2016 and is now part of Flutter Entertainment, the NYSE/LSE-listed group behind Paddy Power, Sky Bet and FanDuel. Alongside the exchange it runs a fixed-odds sportsbook and a casino, operating under local licences — strongest in the UK, Ireland, Italy and Spain.
Betfair FAQ
Has Betfair been fined by the UK regulator?
Its group has. In October 2018 Paddy Power Betfair was ordered to pay GBP 2.2 million by the UK Gambling Commission for social-responsibility and anti-money-laundering failures, and the Commission's findings expressly covered the gambling exchange as well as the Paddy Power side. The case concerned five customers in 2016: two were allowed to gamble stolen money, including the chief executive of Birmingham Dogs Home who admitted defrauding the charity of GBP 894,754 over four years, and three more were allowed to bet extensively despite visible signs of problem gambling. The package was GBP 1.7 million to GambleAware, nearly GBP 500,000 to victims and affected parties and GBP 50,000 in costs, and the charity's money was returned. It is a group action rather than a Betfair-only one, but it would be misleading to leave it out of a Betfair review.
Is Betfair safe and legit?
Yes — Betfair is part of NYSE/LSE-listed Flutter Entertainment and holds multiple UK Gambling Commission licences plus Malta. It is one of the most established and heavily regulated brands in the sector. Only play where Betfair holds a local licence for your country.
What is the Betfair Exchange and how is it different?
The Betfair Exchange is a peer-to-peer market where you bet against other punters rather than a bookmaker. You can back an outcome to win or lay it to lose, at prices set by the market, and Betfair takes a base 5% commission on your net winnings instead of building in a margin. It has the deepest liquidity of any exchange and, unlike fixed-odds books, doesn't limit winning accounts.
Does Betfair limit winning accounts?
On its fixed-odds sportsbook it can restrict accounts like any bookmaker. But on the Exchange it doesn't — because you're betting against other users, not Betfair, so consistent winners aren't a cost to the house. That's a big reason value bettors prefer the exchange.
Does Betfair accept crypto?
No. Betfair uses regulated local payment methods — cards, e-wallets including PayPal, and bank transfer — rather than cryptocurrency.