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Betfair review

  • Our rating 9.2 / 10
  • Licence Northern Territory
  • Last checked 17 Sept 2026

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

There isn’t one

Betfair runs no new-customer bonus on the Australian exchange. There is nothing to turn over and nothing to expire.

Visit Betfair What that means

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Register extract Checked 17 Sept 2026

Betfair

AU / NT
Licence 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
Instrument
Betting exchange licence, Racing and Wagering Act 2024 (NT)
Licensed to accept bets in Australia How this was checked

Assessment

What works, and what doesn’t

Both sides of the book, from our editors’ own accounts.

In favour

  • Runs as an exchange, so 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 have 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

What replaces the bonus

There is no new-customer offer to read, so the thing worth understanding is the pricing model behind it.

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 methodsVisa, Mastercard, PayPal, POLi, BPAY, bank transfer, Apple Pay
Australian railsPOLi, BPAY, bank transfer
Minimum depositA$10
Minimum withdrawalA$10
Withdrawal time1–3 business days
SupportLive chat, email, phone
MobileNative iOS and Android apps, plus a mobile site
Trading since2000

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.

How we verify a licence betfair.com.au

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.

Visit Betfair

18+ · T&Cs apply · advertising · gamble responsibly

Safer gambling

If it stops being fun, stop.

Betting is entertainment with a price on it, not a way to make money back. Set a deposit limit while nothing is riding on it, and never bet to recover a loss. Australia is 18+ only.

Gambling Help Online

Free, confidential counselling by phone, web chat or email, around the clock, anywhere in Australia.

1800 858 858

BetStop

The National Self-Exclusion Register. One registration blocks you from every licensed Australian wagering operator for at least three months.

betstop.gov.au

Warning signs, account limits and every free help service

Questions

Betfair, answered

The things people ask before opening an exchange account.

Is Betfair safe to use from Australia?
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.
What makes an exchange different from a bookmaker?
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, which is to say 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.
Does Betfair take POLi and BPAY?
Yes. Alongside Visa, Mastercard, PayPal and Apple Pay, Betfair supports POLi, BPAY and direct bank transfer, all of which settle on Australian rails.
How long does a withdrawal take?
Expect one to three business days once your identity has been verified. The first withdrawal is usually the slow one, because that is when the identity check happens.
Is there a Betfair app?
Yes, native apps for both iOS and Android, plus a mobile site if you would rather not install anything.