Why is the Betfair app different to regular betting apps?

Discussion in 'Mobile Sports Betting' started by Brian O'Mahoney, Apr 25, 2012.

  1. Brian O'Mahoney

    Brian O'Mahoney New Member


    I was looking for a sports betting apps for my iPhone to place bets on Premiership, Champions League, La Liga and Serie A games. I was thinking about downloading the Betfair app but a work colleague told me I should download a regular bookmaker app instead.

    I though Betfair were a bookmakers so I'm a little confused? Can anyone tell me the difference between the Betfair app and all the rest?

  2. Stapleton

    Stapleton New Member

    Hi Brian

    Betfair is actually a betting exchange rather than a bookmakers. There is quiet a big difference between the two. In a betting exchange you place a sporting bet or horse racing bet with another member of the exchange rather than with Betfair itself. Lets say for example that you believe Chelsea will win the Champions League final this year, you can be sure that someone else believes Real Madrid will win. What Betair does is act as a go between and holds onto the money until the horse race or match is over.

    The layout of the Betfair app is be pretty similar to any other sportsbook app. When you login you are asked to choose from a selection of events, such as football, horse racing, dog racing, cricket, tennis, motor sports etc. Once you've selected your sport of choice, a list of the markets that other betfair members are betting on will be displayed. You would just select "Champions League Final" and then you would be offered the chance to either "Lay" or "Bet".

    I hope this makes sense. If you are new to betting then you might be better of using one of the regular sports betting apps like Ladbrokes, William Hill or Paddy Power.
  3. Sebastian

    Sebastian Administrator Staff Member

    Hey Brian

    Just to add my tuppence worth, the main advantage I see with betting exchanges like Betair and BETDAQ is that the odds offered are generally better at betting exchanges than at bookmakers. It has been my experience that the odds offered are approximately 20% better at Betfair. For example, if a horse racing at this weekend Kentucky Derby was listed on an online sportsbook at 5/1 you would generally be able to find odds of 6/1 on a betting exchange.

    Since you are betting against another member of the betting exchange rather than against Betfair/Betdaq the betting exchange does not care if you win or lose. They make their money by taking ~5% commission of the winnings. Because of this there is no chance that you will be kicked off betting exchange for winning too much. I have many friends who have been exluded from the big european bookmakers for winning too much or have had their maximum bets reduced to £5.

  4. Barkley

    Barkley New Member

    If the Betfair app is so great and offers odds that are 20% better than bookmaker apps then why isn't everyone using it? I've know a couple of people over the years who've used it but not that many. What's the catch?
  5. Wolf Pack

    Wolf Pack New Member

    I think a lot of people are just confused by the whole Betting Exchange thing. Most of us have grown up around our local high-street betting shops and we are familiar with how they work. For this reason I think it feels much more natural and comfortable moving from a Ladbrokes bookmakers to a Ladbrokes betting app.

    Even though I see the Betfair commercials promising much better returns on wagers, I have never really been tempted to download their iphone app.

    Anyone else feel like this?
  6. Fan Boy

    Fan Boy Member

    Yes definitley. Even though I know I could probably get better odds from Betfair or any other betting exchange app, for some reason when I want to lay a sports bet, I inevitably find myself cranking up the Bet365 app.

    Traditional sports books definitely have the advantage of familiarity when it comes to iphone sports betting.
  7. Mister C

    Mister C New Member

    basically with betting exchanges you are betting against other people who have an opposing view to you rather than against a bookmakers. the betting exchange takes a small commission to facilitate the transaction.
  8. Cahill

    Cahill Member

    Ladbrokes recently purchased BetDaq recently which is Betfairs biggest competitor. It will be interesting to see what they do with it. Will it remain a separate entity or will they integrate some some betting exchange elements into their sportsbook.
  9. Barkley

    Barkley New Member

    I recently started using the Betfair app again because they are the only site that offers cash-out on horse races. The other major bookies like PaddyPower and William Hill allow you to close bets on football, tennis, rugby and other major sports but they don't yet extend the cash out service to horse racing.

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