Betfair is the world’s largest, and Australia’s only, peer-to-peer wagering platform.
This means that we are simply an online place for people to bet against each other on events. Think companies like Airbnb, or UBER, who facilitate a transaction between two people – the difference with us is you won’t know who the other person is and the end result is financial! What this also means is you don’t have to just back something to win, you can be on the other side of the bet and bet for something not to win, otherwise known as a LAY bet which is exclusive to Betfair in Australia.
Unlike bookmakers or TOTEs, there is no margin built into the odds in our markets. This means the markets are more efficient and that results in better value for our customers through better odds.
We are also different to rest of the wagering industry as we gain revenue through charging a small commission on customer’s net winnings. So you won’t get shut down for winning too much, in fact, we are on your side, we want you to win!