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 an outcome to win, you can be on the other side of the bet and bet for an outcome not to win, otherwise known as a LAY bet which is exclusive to Betfair in Australia.
Unlike bookmakers or TOTEs, we are a BUY/SELL marketplace where supply meets demand. This means the markets are dynamic, fluid and efficient which results in better value for our customers through better odds at low margins.
We are also different to the 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.
Betfair Australia is owned by the ASX-listed Crown Resorts Ltd, who are the creators of Crown Casino in Melbourne, and Crown Casino Burswood in Perth.