Betfair Exchange £20 free bet
Betfair, founded in 2000, is behind some of the biggest changes to online sports betting in recent years. Unlike a traditional bookmaker, Betfair operates a betting exchange which provides a platform for customers to bet against each other, acting as either as the punter or the bookmaker. It’s a great business model, as unlike traditional bookmakers Betfair isn’t exposed to the outcome of any event. Instead there is always a winner from which they can take commission. A betting exchange lives or dies by its liquidity and Betfair is the world’s largest, some way ahead of its largest rival, Betdaq. In 2010 Betfair floated on the London Stock Exchange and in 2016 merged with Paddy Power, although for the time being the brands continue to operate separately.
The advent of large betting exchanges also facilitated Matched Betting which requires the ability to lay bets, but we like Betfair for more than just that. Although the frequency has diminished somewhat due to various arbitraging strategies, you can often still find better odds than at some of the more traditional bookmakers.
At the moment, when you first first create an account, Betfair will credit your account with a £20 free bet if your first bet loses £20 or more.
If matched betting at Betfair
It's not a question so much a question of "if" but "how often". We use Betfair a lot as a traditional bookmaker, but it's a virtual necessity for matched betting.