Betfair Review
Best for Betting exchange alongside a sportsbook
What we like
- Founded in 2000 and part of Flutter Entertainment
- Licensed by the UK Gambling Commission
- Operates the Betfair Exchange, licensed separately
- Sportsbook launched in 2012 alongside the exchange
What could be better
- UK only
- Exchanges can be harder to understand than a standard bet slip
Betfair review: a UKGC-licensed sportsbook and casino from Flutter, known for the Betfair Exchange. History, licensing and safer gambling explained.
We haven't finished our hands-on test of Betfair yet, so there's no score. Everything below comes from regulator records, Betfair's own published information and the sources linked on this page.
Who runs Betfair and its history
Betfair was founded in June 2000 by Andrew Black and Edward Wray. It is best known for its betting exchange, where customers bet against each other rather than only against the bookmaker. The company also runs a sportsbook, which launched in May 2012, plus an online casino, poker and bingo.
Betfair listed on the London Stock Exchange in October 2010 at £13 a share. In September 2015 it agreed to merge with Paddy Power, and the deal completed on 2 February 2016, creating Paddy Power Betfair. That group later became Flutter Entertainment, which owns Betfair today and lists it among its brands.
Licensing and safety
In Great Britain, Betfair's sportsbook and casino operate under UK Gambling Commission licence 39439, held by PPB Counterparty Services Limited. The Betfair Exchange is licensed separately as a betting intermediary under TSE Malta LP, account 39561. Licence 39435 is also linked to the brand.
The minimum age is 18 and GAMSTOP applies to every licensed online operator.
Sportsbook and exchange
Betfair offers two ways to bet. The sportsbook is the familiar fixed-odds format. The exchange lets you back or lay a selection at prices set by other customers. The company launched its exchange in Italy in April 2014 and in New Jersey in May 2016, though neither is a market covered here.
Check the site for the sports covered and for features such as cash out, bet builder and streaming.
Welcome offer and payments
Betfair's UK welcome offer, payment methods, exchange commission and withdrawal times are set out on its promotions and help pages. Check them before you deposit.
UK promotions are subject to the Gambling Commission's rules. Wagering on bonuses is capped at 10 times the bonus from 19 January 2026, and offers that require play on two or more products are banned.
App and support
Betfair has an iPhone app listed on the Apple App Store as Betfair Sports Betting, and an Android app on Google Play. We haven't tested them yet.
Safer gambling and who it suits
GAMSTOP covers UK accounts, and licensed operators must offer limits and time-out tools. Check your account area for what Betfair provides.
Betfair may suit people who want an exchange as well as a traditional sportsbook, and who are comfortable with how backing and laying work. Exchanges can be harder to understand than a standard bet slip, and losses are as real as on any site.
Betfair licence details
Betfair is licensed in 1 of the regions we cover. The brand is run by Flutter Entertainment plc. You can check each licence yourself using the regulator links below.
| Region | Regulator | Licence / licensee | Where |
|---|---|---|---|
| UK | UK Gambling Commission | No. 39439 · PPB Counterparty Services Limited | Nationwide |
Sources: [1] [2] [3] [4] [5] · Checked 1 November 2026
Apps
Betfair has an iPhone app and an Android app. Apps are usually region-specific, so download the version for where you live.
Features
| Live streaming | Not yet checked |
|---|---|
| Cash out | Not yet checked |
| Bet builder | Not yet checked |
How we'll score Betfair
When our test is complete, Betfair gets a score out of 10 from these criteria. Read the full rating method.
| Criterion | Weight | Score |
|---|---|---|
| Licensing & safety | 20% | – |
| Odds & margins | 15% | – |
| Payments & payout speed | 15% | – |
| Markets & sports depth | 10% | – |
| Bonuses & fair terms | 10% | – |
| App & usability | 10% | – |
| Live betting & streaming | 10% | – |
| Customer support | 5% | – |
| Responsible gambling tools | 5% | – |
Betfair also offers an online casino: read our Betfair casino review.
Betfair FAQs
Who owns Betfair?
Flutter Entertainment, the group formed after Paddy Power and Betfair merged in February 2016.
Is Betfair licensed in the UK?
Yes. PPB Counterparty Services Limited holds Gambling Commission licence 39439. The exchange is licensed separately.
What is the Betfair Exchange?
A betting exchange where customers back and lay selections against each other. It sits alongside Betfair's sportsbook.
When was Betfair founded?
In June 2000, by Andrew Black and Edward Wray.
Review sources: [1] [2] [3] [4] [5] [6] [7] [8] [9] [10]
Play safe
Only bet with money you can afford to lose. Set deposit limits when you open your account, and use time-outs or self-exclusion if betting stops being fun. Free, confidential help: UK: National Gambling Helpline 0808 8020 133.