Review
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Betfair review.
Our rating
9.2/10
Licence
Northern Territory, Australia
Last checked
Betfair is the best-known betting exchange in the world, and its Australian arm holds a betting exchange licence from the Northern Territory Racing and Wagering Commission. Instead of taking a price from a bookmaker, you trade it with other punters — you can back a result or lay against it, and the margin is usually thinner. Local rails like POLi and BPAY are supported and the apps are properly built. The trade-off is a steeper first hour than a standard bookmaker.
Sign-up offer
None
Betfair runs no new-customer bonus on the Australian exchange. There is nothing to turn over and nothing to expire.
18+ · T&Cs apply · Gamble responsibly
Checked
Betfair
- Holder
- Betfair Pty Limited
- ABN
- 30 110 084 985
- Registered office
- Level 13, 565 Bourke Street, Melbourne VIC 3000
- Regulator
- Northern Territory Racing and Wagering Commission
- Jurisdiction
- Northern Territory
- Licence
- Betting exchange licence · Racing and Wagering Act 2024 (NT)
Assessment
What works, and what doesn't
Both sides of the book, from our editors' own accounts.
In favour
- Runs as an exchange — you can back an outcome or lay against it
- Holds a Northern Territory betting exchange licence, not an offshore one
- Exchange pricing often beats fixed bookmaker margins
- Native apps for iOS and Android, not just a mobile site
- Takes POLi, BPAY and bank transfer alongside cards and PayPal
- Deep racing and sport markets, including in-play
Against
- The exchange takes a few sessions to learn if you've only used bookmakers
- Withdrawals can sit for up to three business days
- No sign-up offer at all, where the fixed-odds bookmakers all run one
Sign-up offer
There isn't one
Betfair does not run a new-customer bonus on its Australian exchange, so there is no turnover requirement, qualifying bet or expiry window to read.
What replaces it is the pricing model. A fixed-odds bookmaker builds its margin into the odds and then hands some of it back as a sign-up bonus. An exchange takes a commission on net winnings instead, so the price you see is the price other punters are willing to trade at.
Whether that is better depends entirely on how much you bet after the bonus is gone. A one-off punter is usually better off with the bonus; a regular is usually better off with the thinner margin.
Promotions change without notice and can differ by state. Whatever is on Betfair's own site at the time you sign up is what binds you, not this page.
Detail
Everything else on the record
Money in, money out, and who picks up when something goes wrong.
- Payment methods
- Visa, Mastercard, PayPal, POLi, BPAY, Bank transfer, Apple Pay
- Australian rails
- POLi, BPAY, Bank transfer
- Minimum deposit
- A$10
- Minimum withdrawal
- A$10
- Withdrawal time
- 1–3 business days
- Support
- Live chat, Email, Phone
- Mobile
- Native iOS and Android apps, plus a mobile site
- Trading since
- 2000
Regulation
Who licenses this operator
Australia has no single national gambling regulator. Wagering licences are issued by states and territories, so the entry to check is a state register — not an offshore one.
Betfair's Australian business trades as Betfair Pty Limited and is licensed by the Northern Territory Racing and Wagering Commission. Online wagering across the country sits under the Interactive Gambling Act 2001, which is why an operator without a state or territory licence cannot legally advertise to you here.
Next
Ready to open an account?
Set your deposit limit in the first five minutes, before the first bet. It is far easier to do then than later.
18+ · T&Cs apply · Advertising · Gamble responsibly
Safer gambling
If it stops being fun, stop.
Gambling is entertainment with a price on it, not a way to make money back. Set a deposit limit while you are still calm about it, and never bet to recover a loss. Australia is 18+ only.
Warning signs, limits and every help serviceQuestions
Betfair, answered
The things people ask before opening an exchange account.
Betfair runs its Australian business under a licence from the Northern Territory Racing and Wagering Commission, held by Betfair Pty Limited. That means it is bound by Australian rules on identity checks, deposit limits and self-exclusion, and disputes can be escalated to the regulator.
A bookmaker sets a price and takes the other side of your bet. An exchange matches you against another punter: you can back an outcome or lay it — that is, take the bookmaker's side yourself. Betfair charges commission on winnings instead of building a margin into the price, which is why the odds are often longer.
Yes. Alongside Visa, Mastercard, PayPal and Apple Pay, Betfair supports POLi, BPAY and direct bank transfer, all of which settle on Australian rails.
Expect 1–3 business days once your identity has been verified. The first withdrawal is usually the slow one, because that is when the KYC check happens.
Yes — native apps for both iOS and Android, plus a mobile site if you would rather not install anything.