Before we proceed any further with our analysis of Betfair’s suitability as a place to gamble on horse racing, it’s important for us to clarify that it is a betting exchange instead of a traditional bookmaker. This means that it is effectively a marketplace for users to act as both punter and bookie by setting event odds for other users to take up. Cutting out the middle man in this way, at least in theory, helps to deliver better odds at lower margins, enhancing value. Having said that, many people do treat Betfair as if it was a standard sportsbook – the approach that you take is up to you.
Betfair started life in the UK in 2000, and has subsequently become the world’s largest betting exchange. The company’s Australian arm was established in 2005, and nine years later, Betfair sold its 50% stake in Betfair Australia to venture partner Crown Resorts, which is one of Australia’s premier gaming and entertainment groups.
Both betting exchange and tote (Betfair SP) environments are available to horse racing fans at Betfair. When you browse the site, you can find the latest opportunities to have a flutter on events both near and afar, encompassing Australian venues like Pakenham, Menangle, Newcastle, Rockhampton and Warren, as well as British and Irish racecourses such as Nottingham, Chelmsford City and Ballinrobe. American, South African and Indian venues are among the others represented around the globe.
As if all of the above wasn’t enough, Betfair further distinguishes itself with such resources for horse racing fans as a ‘Form Hub’ section and a Racing Prediction Model, the latter analysing various quantitative variables and outlining the five best chances.
An easy-to-use mobile app, The Betfair Exchange, is also available for those wishing to back or lay bet ‘on the go’.
Given Betfair’s dominant position among betting exchanges, there’s no more obvious option when you wish to back or lay horses. As aforementioned, you can also use the site much like any other online horse racing betting portal, while certain extra features and resources help to further maximise its already-considerable longevity.
Register an account at Betfair, and you might just catch the betting exchange ‘bug’ as so many others have around the world since the company’s debut in the UK almost two decades ago.