Betfair are the oldest sports betting exchange still in existence and remain today the worlds biggest and most successful exchange site. You don’t get anywhere in the gambling industry however if you rest on your laurels and Betfair know there are other exchanges out there, such as Ladbrokes owned BETDAQ, that will often undercut them to take their customers.
Therefore, Betfair have launched ‘My Betfair Rewards’ for all customers, new and existing. This gives you the option of opting-into various packages that reward you differently depending on what you want out of your exchange.
If you opt-into the basic package you can get 2% commission on net winnings in all exchange markets, this is a lot lower than the 5% you would usually start at. This does come with some caveats that mean you cannot get discounted rates you would normally recieve through Betfair points while opted-into the package. You will also not be eligible to claim sportsbook or exchange promotions (such as best odds guaranteed, cash race and other promos).
This is therefore a balance between getting a very low commission rate on your net exchange winnings but accepting this will exclude you from other promotions. If you are someone who doesn’t use promotions a lot and prefers the lowest possible margins then this is a good idea, if however you prefer promotions there are two other packages you can opt-into with My Betfair Rewards:
Rewards – 5% commission on exchange bets and access to the range of promotions shown below:
Rewards Plus – 8% commission on net winnings and access to the incentives and offers shown below:
There is no problem if you start on one package and decide it is not for you, the package you opt-into will be remain the same each month but can be changed by contacting customer services.
If you are a new customer of Betfair you can also claim a welcome offer, either the specific rewards promotion shown earlier on this page or the main exchange offer, which we explain along with more about the brand in our full Betfair review.
Remember you must be over 18 to gamble and it is important that you check all significant terms and conditions that apply before opting in.