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FAQ – Betfair Hub
Betfair is a betting exchange. A betting exchange is a bookie which uses technology to make sure you get a better price. It does that by reducing its risk, which means it doesn’t have to build in extra margin as a safety cushion. The effect is that punters bet on the price they want and not the price they’re told they can have. Imagine two friends having a bet while watching a football match with an impartial observer holding the money while the game is played. A betting exchange works in the same way: our members bet against each other, and Betfair hold the stakes until the bet is settled. Unlike traditional bookmakers, who employ people to compile the odds that they offer, Betfair doesn’t set odds, or bet in any event, (excluding multiples). We simply set up a market for our members to bet against each other. This means that if you want to back a selection, the odds are likely to be better than a traditional bookmaker, because individuals are betting on their opinion rather than building a margin into their price as a bookmaker does.
We are absolutely committed to endorsing responsible gambling as well as improving prevention, intervention and treatment of problem gambling. If you have any concerns about whether you are gambling too much or feel that you may be getting out of your depth, then please refer to our full Responsible Gambling information page. This page can be accessed from a link at the top of our Homepage, or from within the “My Profile” section of “My Account” which you can access this screen by clicking the “My Account” link at the top of the page, any time. Financial Limits Functionality is available to set Daily, Weekly or Monthly Deposit Limits. These can be set either when you register for an account or from within your ‘Account Profile’ if you are already a customer. Limits can be amended at anytime from within your ‘Account Profile’ and more detailed information about this functionality can be found at the Responsible Gambling page here Self-exclusion Should you need to take a break from gambling, we provide a self-exclusion facility. Self-exclusion means that your Betfair account will remain closed for a minimum period of six months, and will not be reactivated under any circumstances during the exclusion period (unlike a standard account closure request). To self-exclude, login and go to “My Account” and select the “My Profile” section. Find the area detailing your account currency and limits settings and click on the “edit” link. From here, you have the option the set a six month self-exclusion. Alternatively, our Experience Team can set self-exclusion for you. Please contact the Betfair Experience Team on 1300 BETFAIR (1300 238 324) if you require any further information or assistance on self-exclusion or individual product restrictions. Further help Information within the Responsible Gambling page includes details about our responsible gambling policy and links to organisations that can help. To receive guidance and support about problem gambling, please visit the relationships Australia website https://www.relationships.com.au), or call the confidential Federal Government Helpline on 1800 858 858.
We do offer a results service. The Betfair Results Service delivers the results of non-Australian markets settled in the past 24 hours. Results are generated from the market settlement carried out 24/7 by our Market Operations team. Results are usually available within a matter of minutes of Betfair settling a market. This site can be viewed by going to https://www.betfair.com.au/hub/racing-results/
The minimum bet on the Betfair Exchange is $AUD 1.00 online and $AUD 50.00 through our Telephone Betting Service.
Your TAN (Telephone Account Number) is a unique code that allows you to place bets via our Telephone Betting Service. To use your account over the phone you must quote your TAN when calling our Telephone Betting Desk on 132 BET (132 238). Your TAN can be found within the “My Profile” section of the web site. You can access this via the “My Account” link at the top of the main page on the web site.
Yes. Betfair have a Telephone Betting Service that is renowned as one of the best in the betting industry. Brokers are on hand 24 hours a day, 7 days a week to place bets on your behalf. To use this service please phone 132 BET (132 238) and quote your Telephone Account Number (TAN).
There are two easy ways to open a Betfair account. On line by going to the Open an Account page and completing the requested details. Over the phone by calling 1300 BETFAIR (1300 238 324) where our Experience Team operators will open the account for you.
If you forget your password, simply click on the “Forgot your password?” link beneath the login section of the website. You will be prompted to enter your username, your registered email address and your country. You will then be guided through a series of memorable questions which you are required to answer. Once you have correctly answered the questions you will be able to set up a new password of your choice. The new password must be eight letters and include at least one number. We would recommend using something memorable to you, but that will not be easily guessed by someone else. If you forget your Username please contact the Betfair Experience Team on 1300 BETFAIR (1300 238 324) and they will be able to assist you.