|
Helpdesk - Frequently Asked Questions
Below is a list of FAQ that the Helpdesk are commonly asked, but if you have any other questions, please don't hesitate
to contact our Helpdesk on 1300 BETFAIR (1300 238 324) or email ausinfo@betfair.com.
Registration and Payments Queries
How do I deposit funds into my account?
How do I deposit funds using BPAY?
How do I deposit funds via bank transfer?
How do I deposit funds using my credit card?
What are Betfair's bank account details?
Can I withdraw funds to my credit card?
Can I register my card to more than one account?
Can someone else make a deposit on my behalf to my Betfair account?
Are there any account fees?
How do I complete the Identity Verification Process (KYC - Know Your Customer)?
Why do I need to verify my identity before I can withdraw funds from my Australian wallet?
Third party access?
General Queries
What happens if I forget my Username and/or Password?
What is my TAN (Telephone Account Number)?
I am in Australia, why is my money in the Main wallet? I.e. Why are there two wallets?
What is "Refer and Earn" and how can I find my "Refer and Earn" code?
What are Betfair holidays?
Do you have a results service?
What are the unique advantages of betting with Betfair?
How do I become a customer?
Can I place a bet over the phone?
What do I do if I think I am gambling too much?
Betting Queries
What is a multiple?
What is the minimum bet?
What is laying?
How do I know when my bet is matched?
How does a non-runner affect my bet?
How can I view my previous/current bets?
What is In-Play betting?
What commission do I pay?
Do you have an "each way" market?
How can I see my position in the market, before I actually place the bets?
Registration and Payments Queries
How do I deposit funds into my account?
You have several options when it comes to depositing funds. Our Payments Pages provide details of each method, the most popular being:
- BPAY
- Bank Transfer
- Credit Card
top of page
How do I deposit funds using BPAY?
To deposit funds using BPAY you will need to quote your Betfair BPAY Customer Reference Number in the reference section provided by your bank. To obtain your unique Betfair BPAY Customer Reference Number log into your Betfair Account. Once logged in make the following selections My Account>>Deposit Funds into Betfair>>Direct Bank Transfer and BPAY. Your Betfair Biller Code and Unique Reference is displayed.
Please retain a copy of any receipts as they may be required to identify your funds.
top of page
How do I deposit funds via bank transfer?
You can also deposit funds via bank transfer; this allows you to fund your Betfair account by transferring funds directly from your own personal bank account to Betfair's bank account held at the National Australia Bank (NAB). This can be done via internet banking or over the counter at your bank. For transfers made during business hours, from major banks, your funds could be credited to your Betfair account
as early as the next business day. From other banking institutions it could take
in 1-3 business days.
Please quote your Betfair Reference Number
(starts with BTF)
in the reference/detail section provided by your bank. To locate your unique Betfair Reference Number you will need to log into your Betfair account and go to the My Account>>Deposit funds>>Direct Bank Transfer and BPAY.
Please ensure that when you instruct your bank to carry out a bank transfer, you enter correctly all the bank details as shown above. Failure to do so may result in lengthy delays.
Please retain a copy of any receipts as they may be required to identify your funds.
top of page
How do I deposit funds using my credit card?
To deposit funds you must be logged in to your account. Then, click on the "Deposit" button at the top of any page or use the "Deposit Funds" link on the Account Overview screen. You can access this screen by clicking the "My Account" link at the top of the page, any time.
If you wish to deposit via credit card, you will firstly need to register your card/s. To do this, follow these steps.
- Click "My Account" at the top of the page followed by the "My Card Details" link in the new pop-up screen.
- Click "Add Card Details" to enter the details of your card. You will be asked to provide a reference name for this card and you will refer to this name when depositing funds in the future.
Once you have registered a card you may make a deposit by clicking "Deposit Funds" within the "My Account" section. Then, simply select the card you wish to use from the drop-down list and enter the amount you wish to deposit. You will need to have your card with you to enter the security number from the back of the card - we do not store it and cannot process your transaction without it. Then, enter your password to complete the process. Please be aware that all card transactions incur a 1.5% transaction fee which will be deducted from your deposit amount. Your funds will be available as soon as the transaction is authorised.
top of page
What are Betfair's bank account details?
| Bank: |
National Australia Bank |
| Account Name: |
TSE (Clients) Limited |
| Holding Branch: |
86 Collins St, Hobart, Tas 7000 |
| BSB: |
087007 |
| Account Number: |
595704575 |
Please ensure that you enter your unique BTF reference number on any deposits made to your Betfair account.
top of page
Can I withdraw funds to my credit card?
No, you cannot withdraw back to an Australian issued credit card.
These are restrictions imposed by Visa & MasterCard. Any funds in your account can be withdrawn to a bank account in your name.
top of page
Can I register my card to more than one account?
No, you cannot register the same card to more than one account.
top of page
Can someone else make a deposit on my behalf to my Betfair account?
No, Betfair cannot accept deposits from third parties or persons other than the Betfair account holder. If you have any queries about payments, please call the Betfair Helpdesk on 1300 BETFAIR (1300 238 324).
top of page
Are there any account fees?
We do not charge any fees for opening or operating a Betfair account.
top of page
How do I complete the Identity Verification Process (KYC - Know Your Customer)?
- Print out the form and fill in your personal details as registered on your Betfair account. If you are unable to print the attached form then please contact ausinfo@betfair.com or contact the Betfair Helpdesk on 1300 BETFAIR (1300 238 324) and we will send you a copy by post.
- Take the form, along with your identification documents, to any Australia Post branch – to find your local branch go to www.auspost.com.au.
- Australia Post will verify your identity on the spot and send the completed form to Betfair. You will not be charged for this service and you will not be required to leave any documents with Australia Post.
- It should only take the Australia Post officer a couple of minutes to complete the identity verification process. However, we will not be able to deem your identity to have been verified until we receive written confirmation from Australia Post. This usually occurs the next business day.
top of page
Why do I need to verify my identity before I can withdraw funds from my Australian wallet?
Betfair was granted an Australian licence in February 2006. Under the terms of this licence, money equivalent to the amount wagered on Australian markets must be held by Betfair in Australia.
As part of being compliant with the Australian regulatory environment, we are required to validate the name and address details provided by you on your account. This will enable you to continue betting on Australian markets through your Australian wallet.
We recommend that you complete this identity validation process (KYC) as soon as possible to avoid restrictions on using your Australian wallet. These restrictions include:
- You will only be allowed to deposit a maximum of $AUD 500 per month (or the equivalent in the currency on your account) into your Australian wallet for the first 90 days.
- You will not be able to transfer any funds out of the Australian wallet. This includes the transfer of funds from your Australian wallet to another Betfair wallet.
- Your Betfair Account will be suspended after 90 days if the account has not been identity checked, and the funds will be frozen in the account.
- Your Australian wallet will be closed and all funds sent to the Tasmanian State Government in Australia if the account has not been identity checked within 12 months of opening your account. You will then have to contact that Government in order to get your money back.
top of page
Third party access?
Betfair strongly recommends against customers providing third parties (including tipping companies) with access to their betting accounts.
top of page
General Queries
What happens if I forget my Username and/or Password?
If you forget your password, simply click on the "Forgot your password?" link beneath the login section of the website. You will be prompted to enter your username, your registered email address and your country. You will then be guided through a series of memorable questions which you are required to answer. Once you have correctly answered the questions you will be able to set up a new password of your choice. The new password must be eight letters and include at least one number. We would recommend using something memorable to you, but that will not be easily guessed by someone else.
If you forget your Username please contact the Betfair Helpdesk on 1300 BETFAIR (1300 238 324) and they will be able to assist you.
top of page
What is my TAN (Telephone Account Number)?
Your TAN (Telephone Account Number) is a unique code that allows you to place bets via our Telephone Betting Service. To use your account over the phone you must quote your TAN when calling our Telephone Betting Desk on 132 BET (132 238). Your TAN can be found within the "My Profile" section of the web site. You can access this via the "My Account" link at the top of the main page on the web site.
top of page
I am in Australia, why is my money in the Main wallet? I.e. Why are there two wallets?
As of August 2006, Betfair has introduced "wallets", which are separate pools of money that you use to bet on either Australian or non-Australian markets. By creating wallets, Betfair is able to hold funds in Australia with which you can use to bet on Australian markets.
All deposits and withdrawals will be processed using your Main wallet and if you are wishing to place bets on Australian markets money will need to be transferred across to the Australian wallet.
This can be done by:
- Logging into your account and clicking on the "Transfer" button located Between your account balances at the top of the Betfair site page.
- My Account - transfer funds between wallets.
top of page
What is Refer and Earn and how can I find my Refer and Earn code?
To obtain more information about refer and earn go to www.referandearn.com or call the Betfair Helpdesk on 1300 BETFAIR (1300 238 324).
top of page
What are Betfair holidays?
Betfair holidays allow customers to take a week away from betting without losing (or gaining) any Betfair points.
All customers are given one holiday at the time of registering an account and will earn one every three months up to a maximum of four.
Holiday run from Monday to Sunday and must booked prior to Monday morning AEST.
top of page
Do you have a results service?
We do offer a results service. The Betfair Results Service delivers the results of non-Australian markets settled in the past 24 hours. Results are generated from the market settlement carried out 24/7 by our Market Operations team. Results are usually available within a matter of minutes of Betfair settling a market. This site can be viewed by going to rss.betfair.com.
Results of Australian horse racing can be accessed via our online Australian Horse Racing zone.
top of page
What are the unique advantages of betting with Betfair?
Betfair is a betting exchange. A betting exchange is a bookie which uses technology to make sure you get a better price. It does that by reducing its risk, which means it doesn't have to build in extra margin as a safety cushion. The effect is that punters bet on the price they want and not the price they're told they can have.
Imagine two friends having a bet while watching a football match with an impartial observer holding the money while the game is played. A betting exchange works in the same way: our members bet against each other, and Betfair hold the stakes until the bet is settled.
Unlike traditional bookmakers, who employ people to compile the odds that they offer, Betfair doesn't set odds, or bet in any event, (excluding multiples). We simply set up a market for our members to bet against each other. This means that if you want to back a selection, the odds are likely to be better than a traditional bookmaker, because individuals are betting on their opinion rather than building a margin into their price as a bookmaker does.
top of page
How do I become a customer?
There are two easy ways to open a Betfair account.
- On line by going to the "Open an Account" page and completing the requested details.
- Over the phone by calling 1300 BETFAIR (1300 238 324) where our helpdesk operators will open the account for you.
top of page
Can I place a bet over the phone?
Yes. Betfair have a Telephone Betting service that is renowned as one of the best in the betting industry. Brokers are on hand 24 hours a day, 7 days a week to place bets on your behalf. To use this service please phone 132 BET (132 238) and quote your Telephone Account Number (TAN).
top of page
What do I do if I think I am gambling too much?
We are absolutely committed to endorsing responsible gambling as well as improving prevention, intervention and treatment of problem gambling.
If you have any concerns about whether you are gambling too much or feel that you may be getting out of your depth, then please refer to our full Responsible Gambling information page. This page can be accessed from a link at the top of our Homepage, or from within the "My Profile" section of "My Account" which you can access this screen by clicking the "My Account" link at the top of the page, any time.
Self-exclusion
Should you need to take a break from gambling, we provide a self-exclusion facility. Self-exclusion means that your Betfair account will remain closed for a minimum period of six months, and will not be reactivated under any circumstances during the exclusion period (unlike a standard account closure request). To self-exclude, login and go to "My Account" and select the "My Profile" section. Find the area detailing your account currency and limits settings and click on the "edit" link. From here, you have the option the set a six month self-exclusion. Alternatively, our Helpdesk can set self-exclusion for you. Please contact the Betfair Helpdesk on 1300 BETFAIR (1300 238 324) if you require any further information or assistance on self-exclusion or individual product restrictions.
Further help
Information within the Responsible Gambling page includes details about our responsible gambling policy and links to organisations that can help. To receive guidance and support about problem gambling, please visit the
relationships Australia
website (
http://www.relationships.com.au ), or call the confidential Federal Government Helpline on 1800 858 858.
top of page
Betting Queries
What is a multiple?
Betfair offers multiples betting, also known as accumulator betting. You can combine a number of selections from different markets into one bet. Betfair allows multiples of between two and eight legs. A leg is an outcome of a single market. You can select one or more runners from a market to form a leg. The odds for each leg are determined by the available odds of the runners in the equivalent singles markets. The odds for the multiple are determined by multiplying the odds for each leg together.
top of page
What is the minimum bet?
The minimum bet on Betfair is $AUD5.00
top of page
What is laying?
Laying a bet means you are betting on something not to happen – a match not to end in a draw, a horse not to come in first, a rugby team not to win by over 7 pts etc. You can only lay an outcome if someone else is willing to take the opposing view (i.e. bet that the outcome will happen). So if the odds of Hawthorn winning the AFL grand final are $7.00 and you don’t think they’ll win, you are risking $6.00 to win someone else’s $1.00.
top of page
How do I know when my bet is matched?
Two ways – when viewing a market, watch the "My Bets" tab on the right hand side of the screen which will indicate which bets are matched and which are unmatched ensuring that you have a tick placed in the matched bets box located at the bottom of the "My Bets" tab. If the bet remains unmatched, you still have the ability to change the price or stake (the odds and stake box will still be editable).
Alternatively, check your Profit and Loss figure which can be displayed beneath each selection when the "Show Profit and Loss" box is checked. To enable this option, click the "Options" arrow button at the top of a market view and then tick the "Show Profit and Loss" box. The Profit and Loss will update as your bet(s) is matched. Green indicates potential profit, red shows potential loss.
top of page
How does a non-runner affect my bet?
Our horseracing markets are guarded against possible non-runners with a system of Reduction Factors. Each horse is allocated a Reduction Factor, based on its likely chance of winning the race, as assessed prior to the race by expert racing analysts.
Win and place markets are calculated differently.
Should a horse be declared a non-runner, the Reduction Factor will be applied to the prices of all matched bets, for both backers and layers. This is to ensure that layers are not unfairly treated and exposed to large liabilities when the chances of other horses winning have improved. The Reduction Factors are designed to be fair to both backers and layers.
To learn more go to Betfair: Rules & Regulations
top of page
How can I view my previous/current bets?
Details of your account information are held within the "My Account" section, accessible from the menu at the top of the screen when logged into your account. This information is only stored on-line for three months, but the Helpdesk can provide you with any historical information about your account that you require.
The My Account section includes details of:
- Current bets (Matched and Unmatched)
- Your "Profit and Loss" (how much you have won and lost by sport or time)
- Your Betting History
- Your Account Summary, including a full statement
top of page
What is In-Play betting?
In-play betting involves betting while an event is in progress. At the start of selected events, unmatched bets are cancelled and an in-play market is opened. This allows you to bet right up until the final whistle of a match, the final game of a tournament or the winning post of a race.
These events are clearly indicated by this in-play "tick"  icon being displayed at the top of the market view.
To place a sports bet In Play just call one of our Telephone Betting operators who are available 24 hours a day, seven days a week on 132 BET (132 238).
Horse racing in-play is available over both the internet and telephone for all customers.
top of page
What commission do I pay?
Betfair charges a Commission on
your net winnings on a market. If you have a net loss on a market you do not pay commission.
Commission is calculated by multiplying your net winnings by the Market Base Rate (MBR), as shown on the Rules tab of each market. For example, if you win $100 on a market with an MBR of 5%, you will pay $5 in commission. However you can earn discounts from this rate for betting more.
top of page
Do you have an "each way" market?
Betfair don’t offer each way betting in the traditional manner, but offer ‘Win’ and ‘Place’ markets as a direct alternative.
As a Betting Exchange, our markets are run differently from the traditional bookmakers in a number of ways, with separate "Win" and "Place" markets instead of the usual "Each Way" markets. If you wish to back a selection “each way”, you have the option to split your stake and place two bets, one to win and one to place. This also means that you can bet a selection to place only. Place markets are usually next to the Win market in the left hand menu and are available on most competitions with large numbers of entrants such as the Tour de France.
N.B. When betting in a Place market, it is important to check the place terms. Different events will have a different number of places available (particularly horseracing where convention determines the number of places available on a given race). You can find the place terms under the Rules tab.
top of page
How can I see my position in the market, before I actually place the bets?
You can configure your settings, to show your “What if” figure, by clicking on the “Options” button, located at the top of the market view screen. A “pop up” like the one below will be displayed where you can tick the relevant checkbox.
top of page
|
