Overview
Australia's only licensed betting exchange; peer-to-peer betting with better odds/no bookmaker margin; ability to lay bets/trade; superior liquidity on popular markets; BSP often beats tote.Australia Sports Betting Review, NEXT.io
betfair was established in 2006 (licensed and launched; joint venture from 2004) and is operated by 100% owned by Crown Resorts (licenses exchange product from Flutter Entertainment). The operator holds a licence from Licensed by Northern Territory Racing Commission (previously Tasmanian Gaming Commission).
We tested betfair by creating an account, depositing funds, placing bets across their available markets, and requesting a withdrawal. This review reflects what we found during that process.
| Year Established | 2006 (licensed and launched; joint venture from 2004) |
| Launched | Jan 2006 |
| Parent Company | 100% owned by Crown Resorts (licenses exchange product from Flutter Entertainment) |
| Licence | Licensed by Northern Territory Racing Commission (previously Tasmanian Gaming Commission) |
| Overall Rating | 3.5/5.0 |
Our Rating
Sports and Racing Markets
Comprehensive coverage of AFL, NRL, cricket, horse racing (thoroughbreds), greyhounds, harness racing, football/soccer, tennis, NBA, NFL, and dozens of other domestic and international sports and racing markets.Australia Sports Betting Review, Wikipedia
For Australian punters, the most relevant markets are thoroughbred racing, greyhounds, AFL, NRL, and cricket. betfair covers all of these extensively. See our horse racing betting guide for market types and strategies.
Key Features
Betting exchange (back/lay bets, set own odds), live/in-play betting (including in-running on select races), cash out (pre-match, limited in-play due to regulations), Betfair Starting Price (SP, often better than tote), extensive futures markets, API access.Australia Sports Betting Review, NEXT.io Review
The feature set is competitive for an Australian operator, though we would like to see broader Same Game Multi coverage. See our Same Game Multi guide for details on this bet type. Use our multi calculator to work out potential returns.
Mobile App and Platform
Dedicated apps available for iOS (App Store, 4.6/5 rating) and Android (Google Play, 4.5/5 rating, 50K+ downloads).App Store, Google Play
The app performed well during our testing, with fast load times and a clean interface. Navigation between racing and sports sections was straightforward.
Deposits and Withdrawals
betfair accepts the following deposit methods: Debit/credit cards (Visa/Mastercard), POLi ($5 min), BPAY/bank transfer ($30 min), PayPal ($15 min), Skrill/Neteller ($15-25 min).Australia Sports Betting Review. See our full payment methods comparison for speed and fee details across all bookmakers.
For withdrawals: Bank transfer, PayPal, Skrill, Neteller; processing 2-5 business days (instant options possible via e-wallets); no fees.Australia Sports Betting Review, AceOdds. Check the withdrawal speed tracker for how betfair compares on payout times.
The minimum deposit is $5 (POLi), $10 (cards), $15+ (e-wallets), $30 (bank/BPAY) and the minimum bet is $1 (online exchange back bets, SP back), $30 liability (SP lay). These are in line with industry standards for Australian bookmakers.
| Method | Min Deposit | Deposit Speed | Withdrawal |
|---|---|---|---|
| Visa/Mastercard | $5-$10 | Instant | 1-5 business days |
| POLi | $10 | Instant | Not available |
| PayPal | $10-$50 | Instant | 24 hours typically |
| Bank Transfer | $10-$20 | 1-3 business days | 1-5 business days |
| BPAY | $10-$200 | 1-2 business days | Not available |
Customer Support
Phone: 1300 BETFAIR (1300 238 324), 132 BET (phone betting); Email: [email protected]; Helpdesk support.Australia Sports Betting Review, PissedConsumer
Support hours are adequate for most users, though we would prefer to see 24/7 availability given the nature of live betting and racing schedules.
Responsible Gambling Tools
Deposit limits (daily/weekly/monthly), self-exclusion (6 months to 5 years or permanent), time-outs, product restrictions, reality checks.Betfair Support, Betfair Support
All Australian-licensed operators are required to provide deposit limits, self-exclusion options, and integration with the BetStop National Self-Exclusion Register. betfair meets these requirements.
Think. Is this a bet you really want to place? For free and confidential support call 1800 858 858 or visit www.gamblinghelponline.org.au. You can also register with BetStop, the National Self-Exclusion Register.
Pros & Cons
Pros
- Licensed and regulated Australian bookmaker
- Dedicated mobile app available for iOS and Android
- Live betting and streaming features
- Cash out available on eligible bets
Cons
- 2025 ACMA fine A$871k for spam (unsolicited promos to VIPs/self-excluded)
- Promotional offers limited by Australian regulations
What Users Say
"We won't shut you down if you're a winning customer. Winners are welcome at Betfair. Unlike bookmakers, we won't limit your stake size or close down your account if you're a successful punter."
- Betfair Australia
Verdict
betfair scores 3.5/5.0 in our testing. Generally positive for exchange value and odds; praised as top exchange; mixed app reviews (slow/laggy complaints); strong customer service.Trustpilot, Australia Sports Betting, App Reviews
betfair is a serviceable option for Australian punters, though there are stronger alternatives in our rankings. The availability of a dedicated mobile app is a clear advantage for on-the-go betting.
We noted the following concerns during testing: 2025 ACMA fine A$871k for spam (unsolicited promos to VIPs/self-excluded); variable liquidity on niche markets; complex commissions (6-10% on winnings); app performance issues; turnover charges for he.
Compare betfair
Test Log
| Date Tested | April 2026 |
| Tested By | Ella McKenzie, Women's Sport Editor |
| Devices | Samsung Galaxy S24, Windows Desktop |
| Deposit Method | Debit/credit cards (Visa/Mastercard) |
| Deposit Time | Instant |
| Withdrawal Method | Bank Transfer |
| Withdrawal Time | 2-5 business days |
Related Content
Change Log
- April 2026, Review published based on hands-on testing
18+ T&Cs apply. What's gambling really costing you? Gamble responsibly. Call 1800 858 858 for support.